nigeria buisness news

Considering the recent spread of Coronavirus across the world, the Federal Government has now shut down Panda Supermarket in Abuja. According to the Federal Competition and Consumer Protection Commission (FCCPC), the store was closed after seafood and animals imported illegally from China was...

Out of the 69.54 million Nigerians reported by the National Bureau of Statistics (NBS) to have been gainfully employed as at third quarter of 2018, only 5 million of the total number earn a salary of N3 million and above per year, as compiled from data by Graeme Blaque Group, a Lagos-based...

Losses in ACCESS (-2.7%), FBNH (-2.2%) and GUARANTY (-9.1%) have seen market capitalisation fell N12.0bn to N12.9trn at the close of trading on the floor of the Nigerian Stock Exchange (NSE) yesterday. Consequently, the development dragged the All-Share Index (ASI) down 9bps to 26,913.70...

Nigeria’s foreign reserves fell by $1.26bn from $41.76bn in October 2 to $40.5bn as of the end of October 30, according to figures from the Central Bank of Nigeria on Thursday. The reserves which had continued to shed in recent months dropped by $482.18m from N45.14bn as of July … Read more...

Export of Nigeria’s Bonny Light crude has been under force majeure since Friday, following the closure of the Nembe Creek Trunk Line (NCTL), the terminal operator, Shell, said yesterday. The force majeure has been in place since Friday morning, following “the … Read more via The Guardian...

Access Bank Plc on Monday listed the N15 billion a fully certified Green Bond on the FMDQ OTC Securities Exchange and the Nigerian Stock Exchange (NSE). The dual listing followed the formal approval of the bond by the Securities and Exchange Commission.... Read more via Vanguard News...

Dangote Cement Plc. has reported a profit after tax of N390.32 billion for the financial year ended December 31, 2018, in contrast to N204.25 billion posted in 2017, representing an increase of 91.10 per cent. This is just as the cement firm … Read more via Newtelegraph –...

Over $400 million has been invested into Nigeria’s oil & gas sector by Global shipbuilding firm, Samsung Heavy Industries (SHI). The commitment by Samsung Heavy Industries is said to be tax revenue and investment. This investment has been ongoing since the company was awarded the contract to...

Sterling Bank has promised to light up Lagos this festive season, as it brings together the best of African and international cuisine and mixology at the critically acclaimed #EatDrinkFestival. The new two-day event format, according to a statement from the bank, has been scheduled for...

The bears resurfaced last week after three consecutive weeks of bullish run with market operators and investment analysts saying that the bears will sustain their hold this week, even as investors already lost N286 billion.... Read more via Vanguard News Nigeria – https://ift.tt/2SKZbvF Get...

The Federal Government says the sale of 21 per cent of its equity in the Nigerian Security Printing & Minting (NSPM) Plc to the Central Bank of Nigeria (CBN) will yield about N17 billion. The Director General of the Bureau of Public Enterprises (BPE), Alex … Read more via Premium Times...

Telecom In the last 15 years, the number of mobile telephone connections in sub-Saharan Africa (SSA) has increased by nearly 10 folds, consequently, over 444 million people in the region are now covered by mobile phone networks. Last year, reports claimed that … Read more via The Guardian...

Banking hall Latest report from the Lagos Business School (LBS), has revealed that 49 per cent of Nigerians have viable bank accounts thus making the country’s financial inclusion efforts move at a slow pace. Besides, the report also identified broad community … Read more via The Guardian...

As part of efforts to aggressively accelerate financial inclusion in the country, the Central Bank of Nigeria (CBN), the Nigeria Interbank Settlement System (NIBSS), commercial banks and mobile operators are currently working on modalities to take the Bank Verification Number (BVN) enrolment to...

In a renewed effort to make homeownership more accessible and affordable for Nigerian workers, Federal Mortgage Bank of Nigeria (FMBN) has kick-started the implementation of … Read more via The Guardian Nigeria Newspaper – Nigeria and World News – https://ift.tt/2nz8Xmk Get more: Nigeria...