Business Hilights

Tracking Nigeria's Headline Business News Online

Banking/Investments

Rice price crashes as Customs delists from import prohibition list

Respite is coming the way of Nigerians who had been decrying the galloping price of rice in the market as the Comptroller-General of Customs, Col. Hameed Ali (rtd), has ordered the immediate removal of rice from import restriction list. Accordingly,…

FirstBank, NESG seal deal on 22nd economic summit

First Bank of Nigeria Limited and FBN Merchant Bank Limited have partnered the Nigerian Economic Summit Group to host the 22nd Nigerian Economic Summit (NES#22) with the theme: ‘Made in Nigeria.’  The summit which is scheduled to hold at the…

Ecobank, Global Fund renew partnership deal to fight HIV

In keeping with its corporate social responsibility, Ecobank Transnational  Incorporated  has renewed its partnership with the Global Fund to Fight AIDS, Tuberculosis and Malaria for another three years running. Ecobank in a statement on Friday explained that the relationship between…

Speculations, IMTAs may push up Naira next week

Stabilization of the naira on the parallel market next week may be a reality considering the beginning of international money transfer agencies (IMTAs) to sell dollars to Bureau De Change operators. The new deal is in line with the Central…

5 largest banks record drop in market share—CBN Report

Details from the Central Bank of Nigeria’s (CBN) Financial Stability Report (FSR) has revealed that in terms of size of assets and deposit of banks, the market share of the five largest banks in the country, declined to 43.30 per…

CBN releases guidelines for Liquid Asset Status to Sukuk

The Central Bank of Nigeria (CBN) yesterday unveiled the guidelines for granting liquid asset status to Sukuk Instruments issued by state governments. The development according to the apex bank is in view of the need to foster financial system and…

NASS moves to tame banks over N65 ATM charge

Worried by complains, the House of Representatives yesterday resolved to investigate the N65 being charged customers by commercial banks for Automated Transaction Machine (ATMs). Accordingly, it has directed its Committee on Banking and Currency to investigate the charge and other…

Reps resolve to probe intractable confusion on CBN forex policies

In view of growing anxiety over the state of the economy, the House of Representatives has resolved to investigate the Central Bank of Nigeria (CBN) over its foreign exchange policies. In a resolution passed yesterday, the House said it would…

Wema Bank, Ogun state, others partner set to build modular refinery

The Ogun State Government is going into partnership with a consortium of four private firms to build a refinery, proposed to be the second largest in Sub-Saharan Africa The agreement was signed in Abeokuta between the government and four firms:…

Tincan Island Port Customs generates N25.6bn in September

The various strategic plans aimed at enhancing the revenue collecting capacity of the Tincan Island Port Customs Command have started yielding results following the posting of N25.6 Billion as revenue in the month of September 2016. The feat was achieved…