Business

Power generation companies on Monday petitioned the Nigerian Electricity Regulatory Commission, the Presidency and other relevant agencies of government over a recent administrative charge imposed on Gencos. In a letter dated September 30, 2019, addressed to the chairman of the NERC, the Gencos resisted the 0.75 per cent administrative charge imposed on them by the […]

Investors in the nation’s stock market have lost a total of N1.52tn in eight months, as the total market capitalisation of equities listed on the Nigerian Stock Exchange dropped from N11.721tn at the beginning of the year to N10.200tn at the end of August. The market capitalisation of equities (not including the market value of […]

The Minister of Works and Housing, Babatunde Fashola, on Thursday said the Federal Government would complete all ongoing and abandoned projects across the country. He disclosed this when the management team of Federal Mortgage Bank of Nigeria paid him a courtesy visit in his office. Fashola said the policy direction of government was to complete […]

A former Deputy Governor of the Central Bank of Nigeria, Dr Obadiah Mailafia, has criticised the directive by President Muhammadu Buhari, to the CBN to stop allocation of foreign exchange for food importation. He faulted the claims that the nation was self-sufficient in food. Mailafia noted that the policy was not well thought out, stressing […]

Many indigenous underwriting firms have been taken over by foreign investors since the last recapitalisation that took place in the insurance sector, investigation has shown. The National Insurance Commission confirmed that a number of local players in the insurance sector preferred being acquired by foreign entities to becoming stronger through merging with other local operators. […]


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