Business News

Business and economic news from Nigeria and around the world.

Blurb

Nigeria spends N1.08 trillion to import used cars and motorbikes in one year

by Bamidele Samuel Adesoji

January 7, 2020

Data obtained from the NBS show that Nigeria spent a whooping sum of N1.08 trillion to import used vehicles and...

Business News

Nigerian Customs: Apapa Command recorded N40.6 billion FoB in 2019

by Titobioluwa Okunade

January 7, 2020

The Apapa Command of the Nigerian Customs Service disclosed that it recorded N40.6 billion as Total FoB Value for the...

Business News

LCCI projects continuous weak investments in 2020

by Chidinma Nwagbara

January 7, 2020

The LCCI has projected that consumer demand and private sector investment would continue to remain weak in 2020.

The average sub-Saharan African barely has 404 kilowatt hours of power – SEForAll

Business News

Reasons REA, NBET bosses were sacked, Minister’s aide reveals

by Fakoyejo Olalekan

January 7, 2020

The last has not been heard about the sack of the MDs of REA and NBET, as new revelation has...

NAICOM, Recapitalisation: 44 firms get NAICOM’s nod , NAICOM boss makes case for recapitalisation, insists the exercise will solidify insurance sector , NAICOM extends recapitalisation deadline for insurance companies to meet new capital base, Due to lack of ‘process’, NAICOM says no insurance firm has met recapitalisation requirement, Insurance: Recapitalisation exercise sets consolidation in motion, Insurance firms are reportedly selling off assets to meet NAICOM’s recapitalisation deadline, Insurance: NAICOM mulls extension of recapitalization exercise

Business News

Due to lack of ‘process’, NAICOM says no insurance firm has met recapitalisation requirement

by Emmanuel Abara Benson

January 7, 2020

NAICOM disclosed yesterday that no single insurance company in the country has technically met the financial requirement it set forth.

Mutual Benefits Assurance Chairman takes another jab at NAICOM’s recapitalisation plan

Business News

Again, Mutual Benefits Assurance boss picks holes in NAICOM’s recapitalisation process

by Fakoyejo Olalekan

January 7, 2020

The Chairman of Mutual Benefits Assurance Plc, Akin Ogunbiyi, has taken another swipe at the recapitalisation plan of NAICOM.

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

Business News

CBN provides guidelines to address credit, liquidity risks, others

by Titobioluwa Okunade

January 7, 2020

The Central Bank of Nigeria (CBN) has released the Nigerian Payment System Risk and Information Security Management Framework.

Appointments

UBA announces appointments to Group Board, Africa Operations – underlining importance of African and global business lines

by NM Partners

January 7, 2020

UBA has announced that Oliver Alawuba has been appointed as CEO of UBA Africa, overseeing the bank’s 20 African country...

United Capital, a Treasure in the Mire, United Capital Plc announces close period ahead of Q3 2019 results, United Capital Plc announces dividend payment for the financial year ended December 2019 , United Capital: The good and the bad

Business News

United Capital Plc releases Nigeria’s 2020 Outlook Report

by NM Partners

January 7, 2020

United Capital Plc, a leading pan-African investment banking group has announced the release of the 2020 edition of its Nigeria...

Chevron, workers, crisis, PENGASSAN requests removal of Chevron MD as NUPENG vows to shutdown facilities

Business News

Chevron crisis deepens, as workers call for MD’s removal, facilities shut down

by Chidinma Nwagbara

January 7, 2020

The Chevron branch of PENGASSAN has demanded the removal of the Chairman and Managing Director of Chevron, Mr Jeff Ewing.

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Nigerian box office records highest Q1 admission rates in 6 years

Nigerian Air Force sets April 18 training date for successful DSSC 34/2025 candidates

Tinubu commissions N73 billion Customs complex in Ogun State

See 10 countries that grant easy citizenship by birth

Business News

Business and economic news from Nigeria and around the world.

Nigeria spends N1.08 trillion to import used cars and motorbikes in one year

Nigerian Customs: Apapa Command recorded N40.6 billion FoB in 2019

LCCI projects continuous weak investments in 2020

Reasons REA, NBET bosses were sacked, Minister’s aide reveals

Due to lack of ‘process’, NAICOM says no insurance firm has met recapitalisation requirement

Again, Mutual Benefits Assurance boss picks holes in NAICOM’s recapitalisation process

CBN provides guidelines to address credit, liquidity risks, others

UBA announces appointments to Group Board, Africa Operations – underlining importance of African and global business lines

United Capital Plc releases Nigeria’s 2020 Outlook Report

Chevron crisis deepens, as workers call for MD’s removal, facilities shut down

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