Latest Nigeria Business News
The Nigeria Immigration Service has announced that with effect from 1st January 2018, citizens must have a national identity number before applying for the country’s passport. Comptroller General of the Service, Mohammed Babadede stated this while speaking to Journalists at the Presidential Villa, Abuja. The Comptroller General, who was at the State House for a meeting […]
Dangote Industries Limited sold 2.3 per cent stake in Dangote Cement Plc to foreign investors on Tuesday in a stock market deal valued at N86.1bn ($236m). Africa’s biggest cement maker has been selling small stakes to increase its free float, which is well below the Nigerian Stock Exchange’s required level. Reuters, on Tuesday, quoted a […]
The Central Bank of Nigeria (CBN) has injected another 195 million dollars into the Foreign Exchange (Forex) market. Mr Isaac Okorafor, Acting Director in charge of Corporate Communications, CBN, said this in a statement in Abuja. Okorafor reiterated that the intervention was in line with the CBN’s commitment to sustain liquidity in the market to […]
The Borno Command of the The Nigeria Customs Service has said it generated over N72 million as revenue, in spite of the security challenges posed by the Boko Haram insurgency in the state. The Controller of the service in the state, Mr Joshua Angbalaga, who disclosed this in Maiduguri, said the amount was generated between […]
Activities on the floor of the Nigerian Stock Exchange opened for the month of August on a positive note. The market ended the month of July on a negative note when it closed trading on Monday with a 2.77 percent loss. However, the market reversed the loss by 2.43 percent when it traded 48.9 million […]
Acting President Yemi Osinbajo on Tuesday received the visiting Ghanaian President, Nana Akufo-Addo, at the Presidential villa, Abuja. Akufo-Addo arrived at the Villa at about 11.12 a.m. and was welcomed by Osinbajo who ushered him into the Acting President’s office through a red carpet. The visit lasted for barely four minutes as the Ghanaian leader […]
The Akwa Ibom State Governor and Interim Chairman, South-East/South-South Governors’ Forum, Mr. Udom Emmanuel, has said that refineries and petrochemical industries should be located in areas where oil is being explored. Emmanuel said this after a recent inaugural meeting of governors in the two zones. A statement on Monday quoted the governor to have said, […]
Oando Plc has reported a growth in profit-after-tax by 117 per cent to N4.6bn for the first half of 2017, compared to a loss of N26.9bn posted in the corresponding period of 2016. Thus, for the third time in a row, the oil major has posted positive financials defying speculations and bolstering confidence in the […]
The Central Bank of Nigeria on Monday offered $100m in wholesale auction at the inter-bank foreign exchange market and intervened in the Small and Medium Enterprises and invisible segments with the sums of $50m and $45m, respectively. The CBN had on Friday sold $462m as part of its intervention in the interbank forex market. The […]
The naira closed at 365 against the United States dollar at the parallel market segment of the foreign exchange market on Monday, down from 364/dollar it closed on Friday. This was despite the sales of $462m and $195m in the interbank forex market by the Central Bank of Nigeria on Friday and Monday, respectively. In […]