ASSETS & FINANCIALS

The Central Bank of Nigeria on Wednesday said it would increase the financial capability of young Nigerians to enable them build and accumulate assets to secure their future. The CBN Governor, Mr. Godwin Emefiele, disclosed this in a keynote address …

The Senate in plenary yesterday approved the harmonised version of the 2015-2017 Medium Term Expenditure Framework and Fiscal Strategy Paper. The level is well below the finance ministry’s proposal of $65 per barrel at the end of last year, due …

Nigeria’s total external merchandise trade further decreased to N5.74 trillion in the fourth quarter of  2014 compared to N6.29 trillion in the previous quarter, according to the National Bureau of Statistics (NBS). Nevertheless, the country’s overall external trade stood at …

Deposit banks in the country during the past one week have opened Letters of Credits  (LCs) worth $500 million for oil marketers to enable them import refined petroleum products to the country, with a directive from the Central Bank of …

Federal Government, Monday, disclosed that it had concluded plan to establish a bank for Small and Medium Enterprises (SME), just as it assured civil servants of prompt payment of February salary. The bank tagged; ‘Development Bank of Nigeria’ will assist the …

Nestle Nigeria’s chief executive (NESTLE.LG) expects the firm’s capital expenditure to slow to its lowest level in five years after a currency devaluation dampened customer spending in Africa’s biggest economy. Dharnesh Gordhon told the media that consumers in Africa’s most populous …

The nation’s foreign exchange reserves tumbled by $2.68bn in less than two months to $31.79bn as of February 23, declining at a faster pace than what financial analysts had predicted, data obtained from the Central Bank of Nigeria last week …

The Minister of State for Finance, Bashir Yuguda, said on Tuesday that the challenges the country’s economy is currently grappling with is not an indication that Nigeria was broke. Mr. Yuguda, who spoke to reporters at the end of the …

The Senate on Tuesday approved $52 per barrel as oil benchmark price for the N4.3 trillion 2015 budget. The federal government had made a final proposal of $65 per barrel of crude oil to the lawmakers after two reviews. The …

The Central Bank of Nigeria (CBN), last week, announced the closure of its foreign exchange (forex) windows- the Retail Dutch Auction (RDAS) and the Wholesale Dutch Auction Sale (WDAS), thereby shutting out the Bureau de Change operators from forex auction trading. …

The nation’s foreign exchange reserves has dropped to $32.43bn, as the Central Bank of Nigeria continued its efforts to prop up the naira, according to data obtained from the bank’s website on Thursday. The current stock of external reserves indicate …

Efforts to attract Foreign Direct Investment (FDI) into the non-oil export sector got a boost yesterday as the Nigerian Export Promotion Council (NEPC) and the Nigerian Investment Promotion Council (NIPC) agreed to deepen their collaboration to promote trade and investments …

This week has been very rewarding for investors at the stock market as they see a significant recovery in their investments. The market has been closing positively since Monday after dipping by about eight per cent this week. Having opened …

Concerned about delay in rollout plan for the 2.3GHz spectrum licence that was won by Bitflux in February 2014, the federal government, through the Broadband Council, has urged Bitflux to roll out services on the 2.3GHz spectrum band without further …

Executive Director of Nigerian Export Promotion Council (NEPC), Olusegun Awolowo, has said Nigeria is targeting the export of cashew nuts worth $2billion in the two years as part of the measures to diversify the economy and move it away from …

The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, has called on Nigerians and investors not to panic as a result of the economic challenges the country is currently facing and uncertainty surrounding the forthcoming elections. Rather, he …

The nation’s non-oil contribution to the country’s current account would double this year, against the level achieved last year, under the government’s current economic diversification agenda. This projection was given on Thursday by the Governor of Central Bank of Nigeria, …

With the total cost of a litre of Premium Motor Spirit, otherwise known as petrol, put at N101.79 as of February 9, the subsidy on the product has increased to N14.79 per litre, according to data obtained from the Petroleum …

The market capitalisation of the Nigerian Stock Exchange (NSE) climbed to N10.198 trillion this week on bargain hunting by investors, which has been on for three consecutive days. Having dipped by 14 per cent in the first month of the …

The acting Director General of the Securities and Exchange Commission (SEC), Mounir Gwarzo  has said empowering trade groups in the Nigerian capital market would enable  the commission focus  on its primary responsibilities of regulating and developing the market. Gwaro, who …