Oil prices drop amid demand worries, but U.S.-Iran tensions help

June 25, 2019

Oil fell on Tuesday amid concerns over the outlook for crude demand, but prices were supported after Washington announced new sanctions on Iran amid mounting tensions in the Middle East. Benchmark Brent crude futures were down 34 cents or 0.5 per cent at 64.52 dollars a barrel by 0639 GMT. They dropped 0.5 per cent […]

These are our goals in the next five years-CBN

June 25, 2019

Central Bank of Nigeria (CBN) governor, Godwin Emefiele, yesterday unfolded the bank’s policy direction for the next five-year under his watch, targeting double-digit growth, single-digit inflation, $12 billion non-oil exports by 2023 and raising financial inclusion to 95 percent level by 2024. He also pledged to retain managed-float exchange rate and announce a bank recapitalisation […]

More dollar receipt for Nigeria as oil prices  go north

June 24, 2019

Oil prices extended gains Monday as rising US-Iran tensions fuelled supply concerns, while Asian equities also edged up ahead of a crunch meeting between Donald Trump and Xi Jinping this week. Both main crude contracts are up almost 10 percent since Tehran last week shot down a US “spy drone” for breaching its airspace, ratcheting […]

Emefiele, Nigeria Central Bank governor, unfolds 5-year monetary policy focus

June 24, 2019

By Tola Akinmutimi   Unveils growth-stimulating measures Restate concern over econony   The governor of the Central Bank of Nigeria, Godwin Emefiele, on Monday restated the monetary authority’s concern on the fragility of the nation’s economy and promised the apex bank’s commitment to its sustainable growth through strategic policy measures. This is even as he […]

Panadol to celebrate kind-hearted people in Nigeria with Toughies campaign

June 24, 2019

Pharmaceutical giant, GlaxoSmithKline, makers of pain relieving drug, Panadol, has concluded plans to celebrate kind-hearted people in Nigeria through its global campaign called Toughies. The company, in a statement made available to businessamlive.com said Toughies, to be launched in Nigeria for the first time in Monday 24th June, 2019, will celebrate its consumers in Nigeria who are […]

Baru calls crucial meeting over NNPC Nbn pension black hole

Phillip IsakpaJune 24, 2019

It is now not too clear if a meeting called by Maikanti  Baru, group managing director (GMD) of state-owned oil company, Nigerian National Petroleum Corporation (NNPC), to hold today over what sources close to the situation tell business a.m. is a potential pension black hole running into tens of billions of naira will go ahead, […]

NIMC takes Diaspora enrolment exercise to India

June 22, 2019

By Tola Akinmutimi   The National Identity Management Commission on Friday hinted that it had extended the ongoing National Identity Database (NIDB) project to the Republic of India as part of efforts to capture Nigerians in the country in the database. The Director General of the commission,  Aliyu Aziz, was quoted as saying that the extension of the […]

Brent oil up 5% this week on fears of U.S.-Iran conflict

June 21, 2019

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output. Brent crude was up $0.69, or 1.07%, at […]

Stock Market Loses N565bn as Investors Await President’s Cabinet

June 21, 2019

The Nigerian equities market has continued to plunge as investors stayed away despite attractive valuation of most stocks,  investigation has revealed. It was gathered that while many foreign investors remained on the sidelines, waiting for the policy direction of President Muhammadu Buhari in his second term, local investors remained incapacitated by weak purchasing power to […]