Business News

How Nigerian Insurance Reform Act 2025 will reshape the industry – Tunji Andrews

Tinubu’s reforms have tripled transaction volumes and values in Nigeria’s capital market in 2 years – Chairman NGX Group

China donates $1 million to support Nigeria’s flood victims

Home Category Business News

Business News

Business and economic news from Nigeria and around the world.

Politics

States lose N35.51 billion to bail-out

by Abiola Odutola

State governments have lost N35.51 billion of their allocation to the federal government over their external debt servicing

Nigeria Customs Service shuts 272 car marts over smuggled car sales , Automobile dealers, Customs at loggerheads over vehicle smuggling, import duty , January 2020 is no terminal date; Borders will remain shut after then - Customs , FG bans fuel supply to border petrol stations, order threatens businesses, jobs, Ban on fuel distribution to border filling station begins to affect network providers , Nigeria Customs Service wants FG to impose this tax on petrol importers , Experts lament rising inflation over border closure, Closure of border petrol stations lowers fuel consumption by 30% - Customs Boss , Customs redeploys officers in charge of anti-smuggling at border , Nigerian customs records N1.3tr revenue in 2019, exceeds target by N404bn , Customs denies spending N1.6 billion on recruitment exercise alone, Customs officers must declare their assets annually – Customs boss, Nigerian Customs move to go digital in 2022

Closure of border petrol stations : Nigeria’s fuel consumption reduces by 30%

by Joseph Olaoluwa

The closure of the border petrol stations by FG has cut down the consumption of Premium Motor Spirit (PMS), known...

NSE holds interactive session with operators in consumer goods sector

by Abiola Odutola

The NSE held an interactive session with operators in the consumer goods sector on how the capital market can unlock...

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

Blurb

Why you should be worried about the latest drop in external reserves

by Bamidele Samuel Adesoji

The CBN confirmed the external reserves stood at $39.8 billion, the first time it has dropped below $40 billion in...

Access Bank tells customers to pay N50Stamp Duty

Market Views

Government reviews stamp duty charge

by CSL Stockbrokers

Federal Government has reviewed the N50 stamp duty charge on electronic payments in the country following public outcry.

Border Closure: Nigeria short of N338 billion worth of rice

by Chidinma Nwagbara

Nigeria has recorded N338.6 billion shortage of rice at the Malaysian price of $421 per tonne as a result of...

Audited Reports: CBN, FIRS, others flout Senate’s 7-day ultimatum

by Titobioluwa Okunade

The CBN, FIRS and other government MDAs have flouted the 7-day ultimatum for the submission of audited reports issued by the...

Continental Reinsurance Plc, Continental Reinsurance, Here’s why Continental Reinsurance is no longer public limited liability company

Continental Reinsurance Plc suspended from trading shares on NSE

by Joseph Olaoluwa

Trading in the shares of Continental Reinsurance Plc has been suspended effective Thursday, 28 November 2019.

Canada invites fresh 3,600 Express Entry Candidates in latest draw , Canada invites 3,600 fresh Express entry for Canadian Permanent Residency , Canada invites 71,700 Express Entry Candidates, as cut-off score rise in October , Canada invites 7,200 Express Entry Candidates to apply for PR in its November draws , Canada invites 85,300 candidates for permanent residency in 2019, Canada invites fresh 3,500 candidates to apply for permanent residence

Diaspora

Canada invites 7,200 Candidates to apply for Permanent Residency in its November draws

by Bamidele Samuel Adesoji

Canada invites 7,200 Candidates to apply for Permanent Residency in its November draws

Politics

Buhari seeks speedy approval of the 2016/2018 external borrowing plan

by Joseph Olaoluwa