Latest Nigeria Business News
A Federal High Court in Lagos has declined to stop the Federal Government from demanding that an oil and energy firm, Star Deep Water Petroleum Ltd, explain its role in an alleged missing crude oil revenue scandal. Justice Rilwan Aikawa dismissed the firm’s preliminary objection against the government’s suit on the ground that it lacked […]
After over five months of intense lobbying, Kano Governor, Dr. Abdullahi Umar Ganduje has put finishing touches to the list of his much-awaited cabinet. It was gathered that some members of his kitchen cabinet made the list, which will be made public any moment from now. It was learnt that seven former Commissioners made the […]
The Central Bank of Nigeria (CBN) has issued new operating guidelines for Indirect Participants in Payments System. In a circular to Deposit Money Banks and Other Financial Institutions, the apex bank said the plan was in exercise of the powers conferred on the CBN under the CBN Act 2007 to promote sound financial system in […]
Struggling with losses of about N1.83 trillion, authorities at the Nigerian Stock Exchange (NSE) at the weekend cancelled its three-tier share pricing methodology that allowed smaller trades to change prices of large and mid-cap stocks for a universal pricing rule for all categories of stocks. The main indicators at the Exchange declined consecutively for the […]
No fewer than 510 communities in 454 local governments have so far benefited from MTN Foundation intervention programmes, in partnership with public spirited-persons, the Director of the Foundation, Mr Dennis Okoro has said. Addressing guests at a dinner organised by the Foundation in honour of nominators of What We Can Do Together at the Sheraton Hotel, Abuja, […]
SUNU Assurances Nigeria Plc, a member of SUNU Group, says it will exceed the N10bn regulatory requirements on recapitalisation to underwrite all classes of general business. In a statement, the Managing Director of the company, Mr Samuel Ogbodu, told insurance brokers during the brokers’ monthly event titled, ‘Engagement with Brokers in Abuja and its environs.’ […]
The Federal Government is planning to refund the core investors in Yola Electricity Distribution Company the sum of N26.9bn. The refund is expected to be made in the 2020 fiscal year. The N26.9bn is part of the amount captured under the N10.9tn 2020 budget estimates submitted by President Muhammadu Buhari to the joint session of […]
The Association of Bureaux De Change Operators of Nigeria has called for a downward review of the cash processing fees introduced by the Central Bank of Nigeria under the cashless policy. In ABCON’s quarterly economic review for third quarter of the year, the association said though the objective of the policy was laudable, the cash […]
Chevron Nigeria Limited has signed a gas sale and aggregation agreement with Olorunsogo Generation Company Limited, Niger Delta Power Holding Company Limited and Gas Aggregation Company Nigeria Limited. The firm said the agreement would enable it to supply on an interruptible basis, a daily contract quantity of 0-63,000MMbtu/d of natural gas to Olorunsogo Generation Company […]
The price of Brent, which is the crude Nigeria’s oil is priced, appreciated on Sunday to $60.51 per barrel. This came as Nigeria’s team met with leaders of crude oil producing nations in Africa to ensure they derived maximum benefits from hydrocarbon deposits in their respective countries. Last week, Brent recorded daily consecutive fall in […]