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Business news

Month: June 2017

Speaker Dogara urges Nigerians to invest in agriculture

Speaker of the House of Representatives, Hon Yakubu Dogara, has urged entrepreneurs in Nigeria to invest resources in mechanised farming in Nigeria. Dogara explained that mechanised farming will generate revenue for the country and bring the needed foreign exchange to move the economy forward. Speaking when he visited Integrated Dairies Limited in Vom, Plateau State, […]

Naira continues to gain against dollar

The Naira appreciated to 374 to US dollar on Thursday. The local currency had a good week, maintaining its grip against the greenback. Naira’s strength is bolstered by the ​sale of dollars to bureaux de change (BDCs) by the Central Bank of Nigeria (CBN)​ on Tuesday. CBN​ had intervened in the inter-bank market to the […]

NSE market hits 11-month high, up by 2.77%

Indices at the Nigerian Stock Exchange (NSE) recorded an 11-month high, appreciating by 2.77 per cent, amid huge gains by banking and cement stocks. The All-Share Index crossed the 30,000 mark, growing by 815.83 points or 2.77 per cent, to close at 30,314.14, as against 29,498.31 recorded on Wednesday. Also, the market capitalisation inched N282 […]

TCN confirms improvement in national electricity grid

The Transmission Company of Nigeria (TCN), says the deployment of Free Governor Control mechanisms by Power Generation Companies (GenCos) in their power plants has resulted in an improved national grid stability and reliability. The Interim Managing Director of the TCN, Mr Usman Mohammed, said this in Abuja. Mohammed explained free governor mechanism as a device […]

Killer rice all over Nigerian market – Governors’ Forum

The Nigeria Governors’ Forum (NGF) has expressed concerns over the quality of rice being imported and consumed by Nigerians. The governors, while describing it as substandard, harmful, called on the Nigeria Customs Service to take urgent measures to curb the situation. A statement by NGF’s Head, Media and Public Affairs, Abulrazaque Bello-Barkindo, said this concern […]

Why Buhari chose UK hospitals for treatment – Lai Mohammed

The Minister of Information and Culture, Lai Mohammed has explained why President Muhammadu Buhari discarded Nigerian hospitals and decided to travel to the United Kingdom to seek medical attention. Mohammed said the reason was because the president needed the best medication, hence his reason to travel overseas. He gave this explanation during a live radio […]

FG uncovers massive fraud in N’Delta ministry projects

The Minister of Niger Delta Affairs, Mr. Usani Uguru, on Wednesday said the Federal Government has uncovered some shady deals by some of the contractors that handled projects in the Niger Delta region between 2009 and 2015. He said while some of the contractors made away with the money paid them without appearing on the […]

Fresh: CBN lifts Naira with $482.6M intervention

Amaka. Obiefuna Nigeria’s Central Bank, the CBN has boosted the inter-bank market with $482.6 million, underlining its determination to guard the international value of the naira. A breakdown interventions indicates that the Retail SMIS was allocated the sum of $285,779,350, while the $100 million was offered in the Wholesale SMIS auction window. The Small and […]

NDIC says committed to developing skills in Financial sector

Amaka Obiefuna NDIC, The Nigeria Deposit Insurance Corporation says it is commitment to building capacity and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS) in particular in Africa. Alhaji Umaru Ibrahim, the MD/CEO of the NDIC gave the assurance in a forum in Lagos, said with the NDIC […]

UNDP Partners with LSETF on the ‘Lagos State Employability Support Project’

The Lagos State Employment Trust Fund (LSETF) is proud to announce that it has entered into partnership with the United Nations Development Programme (UNDP) to provide support to its Employability Programme. Under this partnership, the UNDP and LSETF have committed significant financial and technical resources for the Lagos State Employability Support Project between May 2017 […]

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