Latest Nigeria Business News
Airport infrastructure in most African countries is outdated and not built to serve the growing volume of passengers or cargoes, the International Air Transport Association (IATA) said at the weekend. The body also lamented that carriers and airports are often managed by government entities or regulatory bodies, a development that has impeded the inflow of […]
The value of Nigeria’s export fell by 3.9 per cent in the first quarter of this year, compared to the same period in 2018. The country’s total exports was valued at N4.535tn in Q1 2019, representing a 1.78 per cent rise compared to the fourth quarter of 2018. The value of total imports increased to […]
The President, Insurance Industry Consultative Council, Mr Eddie Efekoha, has assured that operators in the insurance industry will support the National Insurance Commission to grow the industry. Efekoha said this at the 2019 IICC retreat in Ijebu Ode, while applauding NAICOM for setting the pace of recapitalisation in the financial sector. Efekoha said, “The wind […]
The non-performing loans of the banks fell by six per cent from 15 per cent in June 2017 to nine per cent in May 2019, the Central Bank of Nigeria said. It stated that Capital Adequacy Ratio for the banking industry improved from 11 per cent in June 2017 to over 16 per cent in […]
The Securities and Exchange Commission has issued a circular, reiterating its earlier directives to shareholders of defunct Skye Bank Plc to claim their dividends. The acting Director-General, Ms Mary Uduk, said the directive was part of its investor protection programme to ensure that shareholders got the benefits of investing in the capital market. She said, […]
The National Pension Commission on Monday assured retirees of prompt payment of their pension. The Acting Director-General, PenCom, Mrs Aisha Dahir-Umar, gave the assurance during the opening session of a pre-retirement workshop for Federal Government workers that are due to retire in 2020 under the Contributory Pension Scheme. She said the commission considers contributors who […]
The Nigerian Ports Authority has set up a committee to look at the contending issues surrounding the Apapa gridlock, its effect on stakeholders and mitigating steps. The General Manager, Corporate and Strategic Communications, NPA, Jatto Adams, disclosed this to our correspondent over the weekend. Also during the weekend, reports had surfaced that the agency might […]
The nation’s stock market slumped by 3.55 per cent in June as investors recorded losses totalling N479bn. The market, which opened the month of June with a market capitalisation of N13.685tn, a value recorded on May 31, 2019, closed 1102.5 basis points lower at a market capitalisation of N13.206tn on Friday, June 28, which was […]
The Lagos State Government has barred trucks carrying export containers and empty ones from accessing the Tin Can Island Port between June 28 and July 1. The directive was contained in a traffic advisory, which was released for Apapa by the Permanent Secretary, Ministry of Transportation, Lagos State, Dr Salami Olufemi. The government noted that […]
The Chartered Institute of Bankers of Nigeria, Lagos State branch, has reiterated its willingness to make the education and examination of its current and prospective members more convenient and cost effective. The Chairman of the state branch, Peter Ashade stated this at the unveiling of the institute e-learning platform in Lagos. Ashade noted that the […]