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Business

Diamond Bank shareholders rebuke board over N7.99m fine by CBN

24 April 2014, 19:15

Shareholders of Diamond Bank have expressed dissatisfaction over the N7.99 million paid by the bank as penalties to the Central Bank of Nigeria in 2013.

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GSM operators lose revenue over ban on sim cards

24 April 2014, 18:16

Mobile telecom operators are losing huge sum of money due to the ban on sales of new SIM cards by the Nigerian Communications Commission.

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MTN sheds local market share

24 April 2014, 17:22

MTN has overcome sanctions imposed by the Nigerian Communications Commission to grow its local subscriber base in the first quarter of 2014.

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NPDC to begin production of 250 000 bpd in 2015

24 April 2014, 16:15

The Nigerian Petroleum Development Company would begin production of 250 000 barrels of oil daily in 2015.

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Nigeria: Forcados oil terminal still closed

24 April 2014, 17:10

Forcados oil export terminal still closed; oil theft at 300 000 barrels per day

Discos urge government to tackle vandalism, gas shortage

24 April 2014, 16:08

Electricity distribution companies have called on the government to tackle the menace of vandalism and shortage of gas supply to rekindle the hope of improved power supply.

Labour threatens showdown over epileptic power supply

24 April 2014, 14:50

The organised labour plans to shut six electricity distribution companies and four power plants on Friday over increased electricity tariff without power supply.

NSE market capitalisation increases by N59bn

24 April 2014, 13:43

The market capitalisation of the Nigerian Stock Exchange grew by N59 billion or 0.46 percent to close at N12.889 trillion from N12.830 trillion

Telecoms chiefs face jail over contempt of court charge

24 April 2014, 13:43

Contempt of court proceedings have been initiated against the Chief Executive Officer of the Nigerian Communication Commission and top officials of three mobile telecommunication firms.

Massive response to CBN T-bills

24 April 2014, 12:40

Activity has peaked in the local money markets with the oversubscription of the Central Bank’s Treasury Bills.

Government approves N35.9 bn AfDB loan for agric development

24 April 2014, 11:36

The Federal Executive Council has approved the procurement of about N35.9 billion and $385 000 grant for agricultural development.

Oil prices rebound in Asian trade

24 April 2014, 08:12

Oil prices have rallied in Asian trade as heightened tensions in Ukraine overshadowed data showing US commercial crude oil inventories reaching an all-time high.

Government favours local firms in oil contract deals

23 April 2014, 19:21

The federal government has awarded most of its long-term oil contracts worth an estimated $40 billion to Nigerian oil companies.

Government, states, private sector meet on job creation

23 April 2014, 18:20

The federal and the 36 state governments as well as the organised private sector will meet to fashion out effective strategies for fostering job creation in the country.

15 telecoms firms on the brink of collapse

23 April 2014, 17:12

15 licenced telecoms companies are in the process of closing down due to heavy losses and their inability to access sufficient funds.

New agro exhibition set for Lagos

23 April 2014, 16:09

A new exhibition that will bring Nigerian policymakers, farming and food businesses together with the best of the international agribusiness technology and investment community has been announced.

Uganda, Nigeria to trade in dairy products, fish

23 April 2014, 15:00

Plans are under way between Nigeria and Uganda to trade in dairy products and fish.

All-Share Index rises by 0.24 per cent at NSE

23 April 2014, 15:00

Transactions on the Nigerian Stock Exchange ended on a positive trend as the All-Share Index rose by 0.24 percent.

Okonjo-Iweala summoned to Confab

23 April 2014, 13:56

Minister of Finance and the Acting Governor of Central Bank of Nigeria have been invited to appear before the Public Finance and Revenue Committee of the National Conference.

Stock: Major shareholders to be barred from voting at EGM

23 April 2014, 12:54

The Securities and Exchange Commission and the Nigerian Stock Exchange plan to introduce new rules forbidding major shareholders of companies from voting in meetings where they stand to gain.

Senate chides Discos for poor power supply

23 April 2014, 11:50

The Senate has expressed dismay over the epileptic power supply in the country despite the completion of the privatisation of the power sector in 2013.

Oil, gas committee inaugurated

23 April 2014, 10:44

Government has inaugurated the organising committee for this year's Oil and Gas Trade and Investment Forum taking place in Port Harcourt, Rivers State in October.

Oil up ahead of US stockpiles report

23 April 2014, 07:57

Oil prices have inched higher in Asian trade on hopes that a key US stockpiles report would beat bearish forecasts, easing concerns about tepid demand.

Lagos traders appeal to CBN over scarcity of lower denomination naira notes

22 April 2014, 20:07

Traders in Lagos have appealed to the Central Bank to ease their transactions with customers by injecting adequate lower denomination naira notes into the system.

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