Latest Nigeria Business News
The Nigerian Stock Exchange market capitalisation soared by N79bn on Thursday as 26 counters appreciated. The NSE All-Share Index advanced by 0.62 per cent at the end of trading, pushing the year-to-date return to 38.18 per cent. A total of 412.122 million shares valued at N4.721bn exchanged hands in 4,207 deals. The total volume of […]
The Nigerian Electricity Regulatory Commission on Friday threatened to withdraw the licences of non-performing power generation companies in the country. The Commissioner in charge of Legal Licence and Compliance, Dafe Akpeneye, handed down the warning during a stakeholders’ meeting on the Lagos State Embedded Power Programme held at the commission’s headquarters in Abuja. Lagos State […]
The country’s interbank lending rate jumped to 23 per cent on Friday from just five per cent a week ago after the Central Bank of Nigeria tightened liquidity. The more than quadrupling of the rate came after the bank sold a total of N167.6bn ($459.56m) in Treasury bills on Friday and withdrew an undisclosed amount […]
A Commission to review military’s compliance with human rights obligations has been appointed. Acting President Yemi Osinbajo said the seven-man judicial commission will ensure compliance of the Nigerian Armed Forces with human rights obligation and rules of engagement, especially in local conflict and insurgency situations. The commission would be headed by Justice Biobele Georgewill of […]
Kaduna State Government on Friday said it would achieve the over N24 billion internal revenue target it set for the 2017 fiscal year. The State Commissioner for Budget and Planning, Muhammad Sani, gave the assurance in an interview with newsmen in Kaduna shortly after the opening of the third quarter retreat on the implementation of […]
The Nigerian government has vowed to recover money from contractors who refuse to execute contracts awarded to them. The Chairman, Presidential investigative panel on asset recovery, Mr Okoi Obono Obla who disclosed this in an interview with Voice of Nigeria, added that contractors who fail to execute projects within the time frame are guilty of […]
Investors have transacted 515.48 million shares valued at N6.30 billion in 4,132 deals on the floor of the Nigerian Stock Exchange (NSE). The volume improved by 25.08 per cent compared to 412.12 million shares worth N4.72 billion traded in 4,207 deals on Thursday. An analysis of the activity chart indicated Wapic Insurance emerged the most […]
The Auditor-General for the Federation (AGF), Mr Anthony Ayine has commended “the practical efforts’’ of the present NNPC management in ensuring probity, accountability and transparency in its operations. The AGF gave the commendation in a statement issued by Mr Ndu Ughamadu, NNPC’s Group General Manager, Group Public Affairs Division in Abuja. Ughamadu said the AGF […]
The Nigerian Maritime Administration and Safety Agency (NIMASA) said it has introduced new Cabotage Compliance Strategy (NCCS) for a successful coastal and inland trade regime. The Director-General of NIMASA, Dr Dakuku Peterside, made this known in a statement issued by Mr Isichei Osamgbi, the agency’s Head, Corporate Communications, in Lagos. Peterside said that NIMASA came […]
Acting President Yemi Osinbanjo has asked the military to adapt to the realities of changing times, saying that the “nature of the battle today has changed dramatically.” Professor Osinbajo stated this on Friday at the graduation ceremony of the Course 25 of the National Defence College, Abuja. He said: “Today, we are faced with challenges of […]