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Business

FBN records N212bn gross earnings in 6 months

01 August 2014, 19:19

First Bank of Nigeria has announced a gross earnings of N212 billion for the first six months in 2014 compared with N196.4 billion achieved in the corresponding period of 2013.

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4 250 bureau de change operators miss deadline

01 August 2014, 18:20

4 250 bureau de change operators have lost their licenses following their inability to recapitalise and pay the compulsory cautionary fees of N35 million demanded by the Central Bank of Nigeria.

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Oil workers petition government over firms’ anti-labour practices

01 August 2014, 16:20

The two major unions in the oil industry in Nigeria have have petitioned the federal government over alleged anti-labour activities of Nigerian Agip Oil Company and Plantgeria.

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Banks to cut dividend payout

01 August 2014, 14:16

Shareholders of the country's five largest banks are in for harder times as the banks plan to reduce dividend payout ratios in order retain more capital for their operations, a new report has revealed.

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NSE market capitalisation dips by N90bn

01 August 2014, 14:15

The market capitalisation of the Nigerian Stock Exchange depreciated by N90 billion or 0.64 percent as major stocks recorded price losses.

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Government urged to stop killing cement manufacturing

01 August 2014, 14:06

The Nigeria Labour Congress has urged the federal government to prevent the manipulation in cement production by individuals to the detriment of the society.

NNPC, NAOC bicker over award of JV contract

01 August 2014, 14:05

The National Petroleum Investment Management Services appears to be heading for a showdown with the Nigerian Agip Oil Company.

Delta communities give NNPC 14- day ultimatum

01 August 2014, 13:05

Host communities of the Oil Mining Lease, OML, 30 have given the Nigerian Petroleum Development Company a 14-day ultimatum.

Nigeria, UK mull regular business forum to boost investments

01 August 2014, 12:01

Nigeria and United Kingdom have agreed to step up arrangement for a regular business forum between both countries.

Airtel customers hits 300m customers

31 July 2014, 19:59

Bharti Airtel has announced that it has crossed the 300 million customer mark across its operations.

Ex-militants threaten to disrupt Shell operations

31 July 2014, 18:36

An aggrieved Niger Delta ex-militant group has threatened to halt the operations of Shell Petroleum Development Company in the 10 communities hosting the Southern Swamp Associated Gas Solution Plus Project.

FG demolishes structures on NNPC’s Right of Way

31 July 2014, 17:35

The federal government has commenced the demolition of buildings and structures obstructing oil pipelines Right of Way across the country.

NSE investors trade 713.6m shares

31 July 2014, 17:35

Investors at the Nigerian Stock Exchange bought and sold a total of 713.642 million shares valued at N6.727 billion in 5 829 transactions.

Iranian investors bid for NITEL

31 July 2014, 16:35

Iranian investors are ready to invest in the Nigerian Telecommunications Limited and its mobile subsidiary, MTEL

Oando acquires ConocoPhilips for $1.5bn

31 July 2014, 16:35

Oando Plc has completed the acquisition of the Nigerian Upstream Oil and Gas Business of ConocoPhillips for $1.5 billion (about N2.3 trillion).

Union Bank suffers further losses

31 July 2014, 15:28

The fortunes of Union Bank Plc have continued to decline with the bank's half year profits slid by 34.08 percent.

Shell told to resolve Bonga oil spill crisis

31 July 2014, 13:18

Shell Petroleum Development Corporation has been mandated by the federal government to find a lasting solution to the Bonga oil spill crisis in the Niger Delta

CBN sets to revoke BDC licences

31 July 2014, 12:01

The Central Bank of Nigeria is set to revoke the operating licences of Bureau De Change operators who fail to comply with the new capital requirements by the close of work on July 31.

PENGASSAN pickets Addax Petroleum over anti-labour activities

31 July 2014, 13:01

Official activities was halted temporarily at the headquarters of Addax Petroleum by members of the Petroleum and Natural Gas Senior Staff Association of Nigeria for alleged anti-labour issues.

Oil market mixed before raft of US data

31 July 2014, 07:59

Oil prices have diverged as dealers awaited key US data, including the latest stockpiles report, for clues about demand in the world's top crude consumer.

40 insurance firms yet to submit financial reports

30 July 2014, 20:30

40 insurance companies are yet to secure approvals for their financial reports for the year ended December 31, 2013.

30 more companies to trade on NASD

30 July 2014, 19:31

The Securities and Exchange Commission has cleared 30 new securities to trade on the National Association of Securities Dealers over-the-counter (OTC) market.

Eni shuts oil pipeline

30 July 2014, 18:27

Eni SpA has shut off some crude production following sabotage on a pipeline it operates in the central part of Nigeria’s Niger Delta.

New ECOWAS brown card to be operational on January 1

30 July 2014, 17:14

The implementation of the new Brown Card for Economic Community of West African States (ECOWAS) would take off on January 1, 2015.

Nigeria’s oil output to hit 3.13m barrels per day

30 July 2014, 16:18

Nigeria’s oil production is expected to rise to a new high of 3.13mbpd by 2030.

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