Considering the persistent bear run at the stock market, the Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, last week advised investors to take a portfolio approach to investing in the market. The Nigerian stock market …
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The National Pension Commission (PENCOM) said yesterday that pension contributions under the Contributory Pension Scheme has risen to about N5 trillion. Director General of the Commission, Chinelo Anohu-Amazu who stated this at the 10th anniversary lecture of Trust Fund Pension …
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The naira extended its decline against the United States dollar on Wednesday, falling to 302 at the parallel market, down from 300 on Tuesday. The currency had sunk to a record low of 300 per dollar at the parallel market …
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The Executive Secretary, Nigeria Investment Promotion Commission, Mrs. Uju Baba, on Wednesday said the agency would from next year take over the activities of the United States Agency for International Development’s Nigeria Expanded Trade and Transport Programme. The USAID NEXTT …
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The Federal Executive Council on Wednesday approved an additional $200m loan from the International Development Association, an arm of the World Bank, in support of Lagos State Development Policy Operation. The Minister of Information and Culture, Alhaji Lai Mohammed; and the Minister …
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Monday’s stoppage of foreign exchange sales to Bureau De Change operators by the Central Bank of Nigeria failed to lift the naira on Tuesday as the currency exchanged for 300 against the United States dollar in Kano, 290 in Lagos …
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A Federal High Court sitting in Lagos on Tuesday declined making an order to stop MTN Nigeria Communications Limited from moving its funds in 21 Nigerian banks out of the country. The mareva application had been filed to prevent MTN from boycotting …
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The Central Bank of Nigeria (CBN) has given assurance to Dangote Group that it will support it access Foreign Exchange, Forex to build its proposed $14 billion refinery in the country. Mr. Godwin Emefiele, the Governor of the CBN, said …
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The Minister of Foreign Affairs, Geoffrey Onyeama, has assured Nigerians that negotiations are ongoing with a number of countries on the modalities for the repatriation of some looted funds stashed abroad. The minister stated that the Federal Government had been …
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The Central Bank of Nigeria, CBN, has stopped, with immediate effect, the sale of foreign exchange, forex, to Bureaux de Change, BDCs, as part of measures to reduce the pressure on the nation’s foreign reserves. The reserves, which closed last …
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With concerns over 2016 deficit funding, the Federal Government is looking at raising over N1 trillion from plugging revenue loopholes as pressures mount against the revenue estimates in the 2016 budget. This will be coming in addition to plans to …
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The Central Bank of Nigeria has expressed its readiness to support the refinery, fertiliser and petrochemical complex being built by Dangote Industries Limited in Lagos by providing foreign exchange for the importation of equipment. The central bank said the project, …
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While the Central Bank of Nigeria has opposed the idea of another devaluation of the ailing naira, industry experts insist that is the way to go as the currency has continued to weaken. The persistent weakness of the naira, …
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The organised labour unions in the country are demanding a new minimum wage as well as regular payment of pensions for workers in the New Year among other issues. According to the leadership of the Nigeria Labour Congress, the state …
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The naira extended its losses against the United States’ dollar on Monday at the parallel market, falling to 265 from 263 on Sunday. The Central Bank of Nigeria’s intervention on Wednesday is expected to lift the currency at the unofficial …
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The Federal Government earned a total of N2.92tn from taxes in the first nine months of 2015, statistics obtained from the Federal Inland Revenue Service have revealed. The statistics were exclusively obtained by our correspondent in Abuja on Sunday. The …
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The naira dropped further against the dollar to 263 at the parallel market on Sunday, four days after the local currency fell from 260 to 262. The naira had closed at 262 against the greenback before the New Year holiday …
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Eleven former Presidents, Heads of State and former Vice Presidents/Chiefs of General Staff are to share N2.3 billion as entitlements in 2016. This was contained in the summary of the proposed budget 2016 presented by President Muhammadu Buhari to the …
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The Manufacturers Association of Nigeria (MAN), has charged the Central Bank of Nigeria (CBN), to stop funding the Bureau de change market. In a statement , the President of MAN, Chief Frank Jacobs, said: Ït is difficult to understand why, …
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Statutory allocation to the three tiers of government witnessed a decline of N103.95bn in the month of November from the sum of N473.83bn distributed in October to N369.88bn The decline was confirmed by the Minister of Finance, Mrs. Kemi Adeosun, …
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