The country’s external reserves rose to $26.2bn on January 4, 2017, up from $25.8bn on December 30, 2016, the latest data from the Central Bank of Nigeria showed on Thursday. The data also showed that the foreign exchange reserves ended…
Category: Finance
Shell battles Nigerian communities in high-stakes London lawsuit
A court in London will decide in coming weeks whether Royal Dutch Shell can face trial in the UK over oil spill allegations in Nigeria, a decision some legal experts predict could attract more cases against multinationals in Britain. The…
Unremitted N450bn: FG issues new guideline for calculating surplus
The Federal Government, in a bid to check the high level of under-remittance of funds by revenue-collection agencies, has issued fresh guidelines for the computation of operating surpluses. The new guideline that will guide the preparation of the agencies’ financial…
Inflation rate may hit 20% in first quarter —Experts
Economic and financial experts have said that the country’s inflation rate may rise further to 20 per cent during the first quarter of this year from the current 18.4 per cent. They, however, said the inflation rate was expected to…
Non-performing loan ratio crashes to 13.4%
As economic recession continues to weigh on the banking sector, non-performing loans ratio in the banking industry has crashed further above the Central Bank of Nigeria’s five per cent threshold. The NPLs ratio fell to 13.4 per cent in September…
Stock Market: Investors lose N214bn as market closes on marginal gains
Investors in the nation’s stock market lost over N214 billion last week following massive selloff of shares of highly capitalized companies across the sub sectors on the Nigerian Stock Exchange, NSE. Consequently, the market capitalization of the NSE which represents…
LET’S BE YOUR PARTNER IN PROGRESS THIS YEAR
Generally, life works clockwise, taking you round in circles as you begin the year in January and end it in December only to start the process again. The difference however, is that change is constant and your decisions at the…
MMM Nigeria freezes all confirmed accounts as panic, confusion grip Nigerians
Members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM Nigeria have been thrown into panic and great confusion, last Tuesday, following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for…
ECOWAS urges Nigeria, others to reform economies
A West African bloc called on Nigeria and other countries to undergo “necessary structural reforms” to improve their economies, as a collapse in oil and commodity prices continues to cripple economic growth. Nigeria and other member countries should “take appropriate…
Stock market rebounds as investors net N468bn in 3 weeks
Investors on the Nigerian Stock Exchange, NSE, have gained N468 billion in three weeks, as the positive run in the stock market continued last week. This sharply contracts the N660 billion loss suffered by investors last month on the NSE.…
