Business

Nigerian Financial Intelligence Unit, NFIU

Nigeria plans clampdown on shell companies

The anti-graft agency says fresh guidelines on administration of shell businesses would be issued before September.

Unity Bank

Unity Bank fined N7 million in 2018

The 2018 sanction was lower when compared to the sanction the bank faced from regulators in the 2017 financial year.

FOREX: CBN intervenes with $210 million

The rate of exchange between the Naira and the U.S. dollars in the BDC segment of the market on Tuesday was N360/$1.

Average price of kerosene increases in June — NBS

The average price per litre paid by consumers increased from N315.91 in May to N316.43 in June.

Christine Lagarde resigns as IMF Chief

Ms Lagarde was recently nominated as President of the European Central Bank.

Oscar Onyema

NSE Inducts 46 dealing clerks

The NSE said it would support the inductees in developing their capacity.

NCC

NCC remits N51.3 billion to Nigerian govt in Q1 2019

The latest data by the NBS showed that the telecoms industry contributed 10.11 per cent to Nigeria’s GDP in the first quarter of 2019.

Nigeria Stock Exchange

Profit taking: Investors net worth drop further by N110 billion on NSE

The All-Share Index which opened at 28,566.79 dipped 225.76 points or 0.79 per cent to close at 28,341.03.

Naira notes used to illustrate market trading

Nigeria inflation falls to 11.22% — lowest in one year

Nigeria’s inflation hit the highest marks in the last 12 months in December 2018 and May 2019.

Officials of Nigeria Immigration Service (Photo Credit: Immigration.gov.ng)

Nigeria Immigration revenue increased 9% in 2018 – NBS

The bureau said this in its “Immigration Statistics of 2018”, obtained from the NBS website on Sunday in Abuja.

Some N-Power beneficiaries

SPECIAL REPORT: How N-Power beneficiaries abscond from duty, abuse opportunity in three states

The scheme, which was initiated to bring relief to thousands of youth, is being abused by some beneficiaries in Adamawa, Kano and Katsina.

Oil rig used to illustrate the story.

How poor disclosure, delayed passage of PIB mar Nigeria’s oil licencing exercise

The integrity and transparency of the exercise continue to generate ripples among stakeholders.

Nigeria Stock Exchange

NSE market indices drop further by 0.51 per cent on sell pressure

The All-Share Index shed 145.51 points to close at 28,566.79 compared with 28,712.30 achieved on Thursday.

Central Bank of Nigeria (CBN)

Forex Intervention: CBN injects $298.71 million into retail market

The bank also injected 39.69 million CNY in the spot and short-tenured forwards segment of the inter-bank foreign market.

JP Morgan (Photo Credit: BankInfoSecurity)

Malabu: JP Morgan to appeal judgement allowing its prosecution by Nigerian govt

A High Court in London dismissed a motion filed by the U.S. firm to halt its prosecution by the Nigerian government over the Malabu oil scandal.

Nigeria Governors Forum logo

NGF visits new NNPC GMD, seeks improved oil revenue

Wants options to determine long-term ‘revenue trends’ for oil exports to stabilize government budgets.

SGF Boss Mustapha

FG saves N10 trillion from TSA – AGF

The AGF says government has also saved N288 billion from the implementation of IPPIS.

Tankers at a NNPC depot

No plan to increase pump price of petrol — NNPC

The stàte-owned national oil company says it is not in a position to regulate the price of petroleum products.

Melee Kolo Kyari, NNPC GMD

Buhari has never interfered in NNPC’s affairs – Mele Kyari

Mr Kyari disclosed this during a meeting organised by the anti-graft agency EFCC in Abuja.

The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

NSE: Market capitalisation loses N265bn as bearish trend persists

The All-Share Index, which opened at 29,256.60, shed 544.30 points or 1.86 per cent to close at 28,712.30.

Ecobank denies sack of full-time workers

The bank said, in a statement on Thursday, that it only decided against renewing the contract of its third party recruitment agencies.

Governor Fayemi of Ekiti State and chairman of Nigerian Governors Forum.

Budget: Governors seek ways to achieve fiscal stability from oil revenues

Mr Fayemi said the growth and stability of the oil industry, has a significant bearing on the plans of the various governments at all levels.

President Muhammadu Buhari signing the agreement establishing the African Continental Free Trade Area (AfCFTA), on behalf of Nigeria

EXPLAINER: 10 potential benefits of AfCFTA

With a GDP of about $405 billion, Nigeria is considered the largest economy in Africa.

President Muhammadu Buhari in a meeting with APC Governors

No state’s revenue was enough to fund its 2018 budget – NEITI

The report also said, apart from Lagos and Ogun, all others continued to depend on FAAC disbursements.

MTN

MTN announces slash in data prices

MTN introduces a better offer for new customers.