Latest Nigeria Business News
A total of CNY1.18bn had been auctioned in the market as of the end of June 2019 since the Central Bank of Nigeria signed a Bilateral Currency Swap Agreement with the People’s Bank of China in April 2018. A total of CNY669.66m was auctioned in 2018, while CNY512.43m had been auctioned in the first half […]
The banking sector in a bid to comply with the Loan to Deposit Ratio directive of the Central Bank of Nigeria gave out the sum of N860bn to various sectors of the economy. The loans were given to the private sector within a three months period covering July to September. The figure was disclosed by […]
President Muhammadu Buhari on Wednesday arrived at Waterloof Air Force Base, Pretoria, to begin a three-day official visit to South Africa. The President left the Presidential Villa, Abuja at about 1:30 p.m. for Pretoria via the Presidential wing of the Nnamdi Azikiwe International Airport, Abuja. Buhari had earlier presided over the weekly meeting of the […]
The Economic and Financial Crimes Commission (EFCC), Sokoto Zonal Office, has arrested four officials of the Independent National Electoral Commission (INEC) for alleged diversion of over N84.6 million for ad Hoc staff allowances. This was contained in a statement by EFCC spokesman, Mr Wilson Uwujaren, made available to newsmen by the commission’s Sokoto Zonal Office, […]
Brig.-Gen. Shuaibu Ibrahim, the Director-General (DG) of National Youth Service Corps (NYSC), says the monthly allowance of corps members is tied to the national minimum wage and any hike will depend on the new wage. He made this known at the News Agency of Nigeria (NAN) Forum in Abuja on Thursday. Ibrahim, who gave assurance […]
The Government of Delta has approved N381 million for the 2018/2019 bursary scheme for its students in higher institutions. The Commissioner for Information, Mr Charles Aniagwu, made this known while briefing newsmen on the outcome of State Executive Council meeting on Wednesday in Asaba. Aniagwu, who was in company with the Chief Press Secretary to […]
The Senate on Thursday passed the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) submitted to it by President Muhammadu Buhari last week. This followed the presentation and consideration of the report of the Senator Solomon Adeola-led Senate Committee on Finance by the Red Chamber in Abuja. The upper chamber in the approved […]
The West Africa Securities Regulators Association has stated its key mandate of providing the necessary regulatory platform for capital market operators to play a major role in mobilising funds. The acting Director-General, Securities and Exchange Commission, Nigeria, Ms Mary Uduk, said the funds, when mobilised, would be used to finance infrastructure, which would contribute to […]
The nation’s stock market has begun the last quarter of the year with N153bn loss as banking, oil and gas and consumer goods stocks pushed the market performance lower. Trading resumed on the floor of the Nigerian Stock Exchange on Wednesday after a one-day break to observe the Independence Day celebration. At the end of […]
The price of Brent, against which Nigeria’s crude oil is priced, continued its fall for the third day this week and dropped to $57.71 per barrel on Wednesday. It lost $1.18 when compared to the price recorded the preceding day. Also, crude oil in the OPEC basket dropped in price on Wednesday, shedding $1.42 to […]