Category Archives: Business & Finance Updates

CBN to auction N179bn treasury bills

The Central Bank of Nigeria (CBN) will this week seek refinance N179 billion worth of maturing treasury bills (TBs) via primary auction  of  91-day bills, 182-day and 364-day notes, according to financial analysts. This may be the next level of the apex bank’s

Unity Bank, Airtel Africa, others lead stock market’s N100b loss

Trading on the Nigerian Stock Exchange (NSE) reopened on a downturn yesterday, following losses suffered by most bluechip stocks, especially Unity Bank and Airtel Africa, as market capitalisation slumped by N100 billion. The All-Share Index (ASI) fell by 204.68 points

Minister solicits UNESCO’s support for Nigerian women

The Minister of State for Industry, Trade and Investment, Ambassador Mariam Yalwaji Katagum, has urged the United Nations Education, Scientific and Culture Organisation (UNESCO) to support women empowerment in vocational skills such as that of Information, Communication and Technology (ICT).

NERC generates 8.951m MWh in Q1 2019

The Nigerian Electricity Regulatory Commission (NERC) has generated 8.951 million Megawatts-hour (MWh) into the electricity market in the first quarter of 2019. NERC made this known in its first quarter report obtained on Monday by News Agency of Nigeria (NAN)

Future of oil industry bright, OPEC insists

The Organisation of Petroleum Exporting Countries (OPEC) has said it does not believe in repeated predictions that the end was near for oil as a major energy source of the world, stating that contrarily oil has a bright future. OPEC’s

How to make Banker’s Acceptance on trade finance successful

A Banker’s Acceptance (BA) is a draft drawn on and accepted by a bank, unconditionally ordering payment of a certain sum of money at a specified time in the future to the order of a designated party.  Since the instrument is

Logistics sector wobbles under harsh operating condition

The logistics industry, like its peers, is faced with various challenges ranging from high-interest rates, operations cost and stringent government regulations. Indeed, poor transportation infrastructure is considered to be the most significant challenge facing logistics providers, which must be addressed

As NLNG prepares for train-7

After about 12 years of delay in deciding on its planned capacity expansion, the NLNG recently in Abuja, disclosed it would finally start the push to expand its production level from 22mtpa to 30mtpa, with the construction of an additional

FG gives NCC 9-Day to deactivate 2.24m SIM cards

The federal government yesterday ordered the Nigerian Communications Commission (NCC) to deactivate 2.24million improperly registered Sim cards on or before 25th September. The minister of Communications, Dr. Ibrahim Pantami issued the directive during the inauguration of the newly constituted board

FG inaugurates Family Homes Fund board, targets 500,000 houses

Minister of Finance,  Budget and Economic Planning, Mrs. Zainab Ahmed, on Monday inaugurated the board of Family Homes Funds (FHF), with a charge on the members to ensure they deliver on their mandate by providing affordable homes for 500,000 low income

NPA wants ‘on-the-spot’ auction of overtime cargoes littering ports

Irked by the huge volume of overtime cargoes occupying valuable spaces in the port’s environs, the Nigerian Ports Authority (NPA) has called for the immediate action of the cargoes. The Managing Director of NPA, Hadiza Bala Usman, who made the

Trophy, hero receive international recognition

In recognition of International Breweries Plc’s reputation for quality and excellence, two of its leading beer brands and national treasures, Trophy lager and Hero lager, have been awarded Gold Quality Awards in the Beers, Waters and Soft Drinks category by