Latest Nigeria Business News
Nigeria’s Minister of Budget and National Planning, Senator Udoma Udo Udoma, has said that the country is expecting mega growth in the economy sector by 2018. The minister said the nation is on track to achieving full recovery and growth, adding that it needs to look inwards to boost non oil revenues and observe fiscal […]
The Nigeria Deposit Insurance Corporation (NDIC) has secured a landmark judgement to the tune of N556,493,034.16 (Five Hundred and Fifty-Six Million, Four Hundred and Ninety-Three Thousand, Thirty-Four Naira and Sixteen Kobo Only) in favour of depositors of Lead Merchant Bank Limited (in-liquidation). The judgement was recently delivered by Honourable Justice Ibrahim N. Buba of Federal […]
The NSE Main-Board Index which opened at 1,609.35 basis points and closed at 1,615.94 basis points, led the indices board of the equities market at the close of Friday trading activities. The NSE Main-Board Index grew by 66.59 basis points or 4.14 per cent. NSE Premium Index was next with a previous opening of 2,639.22 […]
The Nigeria Customs Service (NCS) said it generated N49 million on e-auction platform and recorded 254 winners in four weeks across the country. The Service Public Relations Officer, Mr Joseph Attah, announced this in a statement on Friday in Abuja. Attah said that 6,560 persons were able to recharge their e-wallet of N1000 administrative fee […]
The Nigeria Insurers Association (NIA) has approved the appointment of Mrs Yetunde Ilori, the former Managing Director of Axa-Mansard Insurance Plc, as its Director-General. The Chairman of the NIA, Mr Eddie Efokoha, announced the approval at a news conference in Lagos after the council’s meeting. Ilori succeeded former Director- General, Mr Sunday Thomas, who became […]
Oil prices have risen higher reaching new two-month highs and on track to post the strongest weekly percentage gains this year as investors digested signs of an easing oversupply. Brent crude futures reached a new two-month high of 52.02 dollars a barrel. US West Texas Intermediate (WTI) crude futures were up 30 cents at 49.34 […]
Acting President, Prof. Yemi Osinbajo, has ordered the rescue of oil workers recently abducted in Borno state. In a statement released on Sunday, he condemned the ambush, attack and abduction of soldiers, and civilians who were carrying out their duties to the nation in the Lake Chad Basin Frontier Exploration. “The objective of this patriotic […]
The acting Chairman of the Economic and Financial Crimes Commission, Mr. Ibrahim Magu, has accused banks of creating a friendly atmosphere for looters to operate. He added that some banks were currently behind the moves to separate the Nigeria Financial Intelligence Unit and the EFCC. Magu further alleged that when the NFIU is established as […]
7-UP Bottling Company Plc has reported a loss of N2.45bn for the first quarter of 2017. This represents a decline in the company’s business compared to the corresponding period of 2016 when it posted a profit of N1.265bn. Also, 7-UP reported an operating loss for the year of N2.45bn as against operating profit of N775.558m […]
Union Bank of Nigeria has posted a 23 per cent growth in gross earnings for the half year ended June 30, 2017. The bank’s gross earnings for the period under review rose to ₦73.7bn against ₦60.1bn achieved in the preceding period. This is contained in the bank’s half year result published by the Nigerian Stock Exchange. Its […]