After losing 0.91 percent, on Monday, the Nigerian Stock Exchange (NSE) key market indicators on Tuesday August 22, 2017 bounced back on the positive track with 1.03 percent appreciation, bringing the year to date return to 37.54 percent. At the closing of business the All Share Index closed at 36,962.48 against the previous close of 36,584.44 while Market Capitalization closed …

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The Director General of the Securities and Exchange Commission (SEC) Mounir Gwarzo has urged legal practitioners in the country to refrain from instituting unnecessary litigations at the instance of their clients who are involved in an enforcement action of the commission. Gwarzo disclosed this during a panel session at the ongoing 2017, Annual General Conference of the Nigerian Bar Association …

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The Nigerian National Petroleum Corporation (NNPC) has alerted the public of the activities of con men who specialize in circulating phantom letters of crude oil allocation with the intent of defrauding unsuspecting would-be buyers. Group Managing Director of the Corporation, Dr. Maikanti Baru raised the alarm during the presentation of commendation letters to 12 staff of the Crude Oil Marketing …

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The much famed N701.9 billion Payment Assurance Fund (PAF) meant to provide more liquidity for Generation Companies (GenCos) to pay for gas and increase electricity supply, has not been released five months after it was announced, Daily Trust reports. The Minister of Power, Works and Housing, Mr Babatunde Fashola, while berating the 11 Distribution Companies (DisCos) for their poor payment …

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Chiedu Osakwe, director-general of the Nigeria office for trade negotiations, says the agency will embark on a review of all trade and investment agreements entered into with countries and entities since 1960. In an interview with Businessday, Osakwe said the aim of the review is to update and modernise such agreements. “The review focuses on all our trade and investment …

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Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States. Brent crude oil was up 40 cents at 52.06 dollars a barrel by 0715 GMT. United States light crude was 35 cents higher at 47.72 dollars. “U.S. crude oil stocks have been falling consistently in recent weeks,” said Fawad Razaqzada, market analyst …

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The Registrar of the Joint Admissions Matriculation Board, Prof. Ishaq Oloyede, has said that the Computer Based Test Centre being built in Abeokuta, will ease the pressure on candidates sitting for the Unified Tertiary Matriculation Examinations in Ogun, Lagos and other Southwest States. He said this shortly after the Governor of Ogun State, Senator Ibikunle Amosun, laid the foundation of …

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The Small and Medium Enterprise (SME) Group of the Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce and a leading voice in the organized private sector (OPS) in Nigeria, is set to hold its annual seminar. The theme of this year’s seminar is “Ease Of Doing Business: Economic Realities For SMEs.” The annual SME seminar, according …

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The recent moves by the Nigerian Maritime Administration and Safety Agency (NIMASA) to ensure full implementation of the Cabotage Act, 2003 through the New Cabotage Compliance Strategy (NCCS) has continued to receive commendation from Stakeholders. This is coming on the heels of the visit to the Agency by the Nigerian Ship owners Association (NISA) led by the Lagos State Coordinator, …

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More than 700 Bureaux De Change (BDC) operators are inactive in the Central Bank of Nigeria’s (CBN’s) Forex Window as forex end users embrace commercial banks, The Nation has learnt. The preference for commercial banks followed the uncompetitive rate regime that shifted the business patronage in favour of the lenders. The practice has cut BDCs’ turnover, putting their businesses under threat. Confirming …

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