Latest Nigeria Business News
The interbank segment of the Foreign Exchange Market has received a boost of $210 million from the Central Bank of Nigeria (CBN) following sales concluded on Tuesday, June 11, 2019. Figures obtained from the CBN indicated that authorized dealers in the wholesale segment of the market were offered the sum of $100million, while the […]
The Chartered Insurance Institute of Nigeria (CIIN is set to commemorate its 60th anniversary with a list of activities to acknowledge its contribution to the development of manpower in the country. The anniversary celebration is billed to run between August 2 and 8. In a statement, it said the anniversary which has Diamond Legacies, Driving Growth, […]
The Board of Directors of Wapic Insurance Plc has secured the approval of its shareholders to increase the authorised share capital of the company from N8.5 billion to N15 billion, by the creation of 13 billion additional ordinary shares of 50 kobo each. The National Insurance Commission (NAICOM) had on May 20 given insurance companies […]
The Central Bank of Nigeria signaled it will allow the naira to weaken past its official rate as it gradually unwinds its regime of multiple exchange rates, data on its website shows. The apex bank stopped publishing the fixed naira exchange rate on its website and it now says that the rate will be “market-determined.’’ […]
Stanbic IBTC Holdings Plc has been recognized for its human resource practices, reaffirming its status as a leading employer brand at the HR People Magazine Awards 2019 Awards held recently in Lagos. Stanbic IBTC won the Best Training, Learning & Development Strategy 2018 and the Outstanding Employee Engagement Strategy 2018 Awards. This makes it the […]
The Nigerian Export Promotion Council on Tuesday unveiled its service charter that would raise the expectations and define the standard of service to be provided to customers and members of staff. The move is part of the strategies to stimulate improvements and reforms in the way businesses would be conducted in the export promotion agency […]
The Italian government on Tuesday announced its readiness to invest in Nigeria’s transportation sector. It also said it would concretise the move to bring Italian companies to Nigeria through the public private partnership platform. The Italian Ambassador to Nigeria, Stefano Pontesilli, disclosed this when he led a delegation to the headquarters of the Federal Ministry […]
The Ogun State Area Command of the Nigeria Customs Service, says it intercepted 7,030 bags of smuggled foreign rice, and 38 used vehicles popularly known as Tokunbo, among other seizures within the month of May 2019. The Controller of the command, Michael Agbara, disclosed this on Tuesday at the Idiroko border office of the command […]
The Nigeria Civil Aviation Authority has issued an Approved Maintenance Organisation Certificate on Non-Destructive Testing to an indigenous firm, DAV-AAKY Nigeria Limited. The firm is expected to carry out Non- Destructive Testing inspection to ensure airworthiness and serviceability of aircraft and aircraft components with specifications covering Eddy Current Testing, Magnetic Testing, Dye Penetrant and Ultrasonic […]
The Nigerian Incentive-Based Risk Sharing System for Agricultural Lending has secured a total of N4.5bn from four Deposit Money Banks for the cultivation of maize and soybeans in three states. The banks are Stanbic IBTC with the sum of N2bn; Sterling Bank Plc, N1.5bn; and Union Bank Plc, N1bn. The funding is a fallout of […]