BUSINESS NEWS

Mr Olamilekan Adegbite, Minister of Mines and Steel Development (MMSD), says Nigeria will soon become gold jewelry making destination. Adegbite made this know on Friday in Abuja while conducting graduation ceremony for 21 selected youths trained on jewelry making. According to him, Federal Government is making effort to make sure value is added to raw […]

  A new report from the World Bank’s Global Gas Flaring Reduction Partnership (GGFR) has said Nigeria and nine other countries account for  three-quarters of gas flaring. The report released in Washington on Thursday lists the top seven countries in gas flaring as Russia, Iraq, Iran, the United States, Venezuela, Algeria, and Nigeria. These seven […]

  The Nigerian Electricity Regulatory Commission (NERC) has given Port Harcourt Electricity Distribution Company (PHEDC); Jos Electricity Distribution Company (JEDC); Kano Electricity Distribution Company (KEDC); Kaduna Electricity Distribution Company (KEDC); Jos Electricity Distribution Company (JEDC); Ikeja Electricity Distribution Company (IKEDC) and Ibadan Electricity Distribution Company (IBEDC) approval to increase their tariff rates. The new approval […]

The Nigeria Deposit Insurance Corporation (NDIC) said it had embarked on collaboration and cooperation with other deposit insurance agencies globally to address the challenges facing the insurance industry. The NDIC Managing Director/Chief Executive, Bello Hassan, said this at a retreat organised by the Corporation for members of the House of Representatives Committee on Insurance and Actuarial […]

  The National Agricultural Land Development Authority (NALDA) has said it will be sending 200 young farmers training on crop production and animal husbandry in Israel and Morocco. It said the aim was to make agriculture more attractive to youths as the training would expose and equip them on modern agriculture and agribusiness, which will […]

  Bank accounts not linked to Bank Verification Number (BVN) have reached 73.8 million, data from the Nigeria Interbank Settlement System (NIBSS) has shown. Of the 128.4 million bank accounts in the country, 54.52 million accounts are linked to BVN as at May 1, this year, according to data from NIBSS. This was an improvement […]

The naira yesterday dropped to N589 against the dollar at the parallel market. The figure represents N1 or 0.2 per cent depreciation compared to the N588 it traded last two weeks. Currency traders known as Bureaux De Change operators (BDCs) said the forex liquidity crisis still persists in the market despite low demands. The traders […]

The Chartered Institute of Taxation of Nigeria (CITN), has implored tax professionals across the country to join hands with the federal government towards achieving a tax-driven economy. President of CITN, Adesina Adedayo stated this at the 46th induction ceremony of the institute, where 372 tax professionals got instated into the institute. While addressing the inductees, he stressed that professionals […]

As the stock market of the Nigerian Exchange Limited (NGX) appreciated by N1.45trillion in April, a total of 17 fundamental companies contributed about 98 per cent to market capitalisation in the month under review. Analysis of trading data showed that the overall market capitalisation closed at N26.761 trillion in April 2022 from N25.312 trillion in […]

The Central Bank of Nigeria, CBN, has approved the sum of N2 billion to the Imo State government for the empowerment of artisans in the state. The Commissioner for Labour and Productivity, Ford Ozumba, disclosed this to newsmen on Tuesday in Owerri, while announcing the Imo 2022 Entrepreneurial Product Expo in partnership with CBN. He […]