International trade has started picking up following the Central Bank of Nigeria’s steady dollar supply into the foreign exchange market. The Chief Consultant of Biodun Adedipe Associates Limited, Mr. ‘Biodun Adedipe, said that due to the economic recession, the current import figure was a decline from the $14.171bn (or monthly average of $4.724bn) recorded in […]
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Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, sitting below the $50 per barrel level that was briefly breached for the first time in 6 weeks in the previous session. International benchmark Brent crude futures were down just 1 cent at $49.29 per barrel […]
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A Federal High Court in Lagos yesterday, ordered seven local banks to transfer a combined $793 million to the government Treasury Single Account (TSA) without delay following a petition by the Attorney General of the Federation (AGF) that they withheld monies collected on behalf of the Federal Government. The banks affected are United Bank for […]
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The Nigerian National Petroleum Corporation (NNPC) has recorded a revenue drop of ₦14.32 billion in its group operating revenue for the month of May 2017, representing a 4.4 per cent decrease against its April revenue. This is even as the corporation said it recorded only 55 incidents of pipeline vandalism in May 2017 as against […]
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The Nigerian stock market entered its 11th successive gain buoyed by strong 2.19 rebound by the industrial and the banking sector as the All Share Index rose by 0.54 per cent to close at 33,695.83 points. Investors positive sentiment attributed to Skye Bank’s announcement on Tuesday of a fresh recapitalisation programme, submission of 2016 earnings […]
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The Nigerian Stock Exchange’s market capitalisation for the third consecutive day on Wednesday rose by ₦27 billion or 0.23 per cent to close at ₦11.550 trillion after closing at ₦11.523 trillion on Tuesday. This was the All-Share Index, which opened at 33,436.61, appreciated 78.32 points or 0.23 points to close at 33,514.93 due to price […]
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Nasdaq and The Nigerian Stock Exchange (NSE) have officially announced that NSE, the stock exchange of the largest economy in Africa, has launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution. The technology will, amongst other things, enable NSE to proactively monitor market manipulation (including spoofing and layering), detect and deter […]
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Although, the Nigerian Insurance Industry Database (NIID) has not started yielding the expected profits, the Nigerian Insurers Association (NIA) has said it got ₦160.47 million as proceeds from the data uploads in 2016. According to the association’s 2016 financial report, the balance in the account of the NIID as at the beginning of last year […]
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The Speaker of House of Representatives, Mr Yakubu Dogara, said it was unacceptable that Nigerians spent five billion dollars on generators annually. He said the house would support the Executive to find a permanent solution to the power problem in the country. Dogara stated this on Tuesday in Abuja at the public hearing organized by […]
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The Federal Inland Revenue Service on Monday sealed off four companies in Lagos and Port Harcourt over their alleged failure to meet their tax obligations totalling ₦630m. The affected firms include Charcoal and Spices Restaurant Limited, GRA, Port Harcourt, and Cioscon Nigerian Limited, Aba Road, Port Harcourt. The leader of the FIRS enforcement team, Mrs. […]
Read More The Nigerian Stock Exchange market capitalisation appreciated by ₦14bn at the close of trading on Monday to close at ₦11.477tn from ₦11.463tn recorded on Friday last week. A total of 322.814 million shares valued at ₦2.734bn were traded in 3,830 deals. The equities market advanced by 0.12 per cent to bring the year-to-date return to […]
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The Nigerian National Petroleum Corporation on Sunday said that its refineries in Port Harcourt, Warri and Kaduna were now supplying 60 per cent of the Dual Purpose Kerosene being consumed in the country. This, it said on Sunday, was in line with the 2019 target date by the Federal Government to stop the importation of […]
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