The latest business news in Nigeria, Africa and the world.

Nigerian Refineries Did Not Get Maintenance In 42 Years - NNPC

Nigerian Refineries Did Not Get Maintenance In 42 Years – NNPC

The Nigerian National Petroleum Corporation (NNPC), has revealed that the country's refineries have not undergone Turn Around Maintenance (TAM) for an aggregate of 42 years.

NSE Bars Diamond Bank, Others From Corporate Governance Index

The Nigerian Stock Exchange (NSE) has expelled Diamond Bank, Continental Reinsurance Plc and NEM Insurance Plc from its Corporate Governance Index.

Fashola’s Power Ministry Budgets N168m For Fuel, Generators

The Federal Ministry of Power, Works and Housing has budgeted  N167.96m this year for the purchase, maintenance and fuelling of generators/plants.
Diamond Bank

Diamond Bank Customers To Use Access Bank ATMs Without Charges

Diamond Bank customers can now use Access Bank Automated Teller Machines (ATMs) without paying the mandatory N65 for each transaction.
US Embassy In Abuja To Resume Consular Services August 24

We’ll Attend To Visa Applicants- US Embassy

The US embassy in Nigeria says its offices in Abuja and Lagos are open for all consular business, including visa interviews.

15 Best And Worst Performing Nigerian Banks Of 2018

A list of best and worst performing banks in the year 2018 has emerged with Unity Bank becoming the best performing bank at the exchange for 2018.

Dredging Of Ports Outside Lagos Not Captured In 2019 Budget – Man

The dredging of the country's ports outside Lagos was not captured in the 2019 budget, according to the Manufacturers Association of Nigeria (Man).
Nigeria Gets $500m Facility For Establishment Of Modular Refineries

Nigeria Loses N96bn From Refineries In Nine Months

The Federal Government-owned refineries lost N96.34bn from January to September 2018 as against N95.09bn in 2017, says the Nigerian National Petroleum Corporation (NNPC).
NMRC Refinances N18bn For Housing Loans

NMRC Refinances N18bn For Housing Loans

The Nigeria Mortgage Refinance Company (NMRC) has said it has it refinanced mortgage loans in the country with N18bn as at December 2018.

FIRS Pays Whooping N4.62tn To FG’s Coffers In 11 Months

The Federal Inland Revenue Service (FIRS) it paid N4.62tn into the federation account between January and November 2018. 

Aviation Workers To Begin Strike January 2

The National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria have vowed to go on strike by January 2. 
Fashola Says No Budgetary Allocation For Mambilla Power Plant

North-East Power Transmission Capacity Raises By 100% — TCN

The Transmission Company (TCN) has said the power transmission capacity in the North-East has risen by 100 percent. 
Nigeria Commodity Exchange

Nigerians Expect Inflation Rise In 2019- CBN Report

The  Central Bank of Nigeria (CBN) 2018 fourth quarter consumer expectations survey (CES) report, shows that some Nigerians have projected a rise in inflation and borrowing rates as well as naira appreciation in the next 12 months.

NCAA Sanctions Four Airlines For Violation Of Regulations

The Nigerian Civil Aviation Authority (NCAA) says it has sanctioned four operators for violating the Nigerian civil aviation regulations (NigCARs).

NSE Expels 35 Stockbroking Firms (Full List)

The Nigerian Stock Exchange (NSE) says 35 stockbroking firms have been expelled from the bourse.
Afrexim Bank To Introduce Trade Facilitation Programme

Afreximbank, AGF To Back African SMEs With $30m

The African Export-Import Bank (Afreximbank) and the African Guarantee Fund (AGF) have signed a 30 million dollar re-guarantee facility to help African Small and Medium Enterprises (SMEs).
CBN To Sanction Banks Over Failed e-Transactions

CBN Injects $210m Into FX Market

CBN has said it injected 210m dollars into the various segments of the market to sustain its intervention in the Inter-Bank Foreign Exchange Market.
Diamond Bank

Diamond Bank Appoints Dele Babade As Acting Chairman

Diamond Bank, a Nigerian multinational financial service provider, has appointed Dele Babade to serve as its acting chairman.

Trump Honours Nigerian Entrepreneur With Lifetime Achievement Award

The US President, Donald Trump, has honored Nigerian entrepreneur, Felix Eiremiokhae, with a Presidential Lifetime Achievement Award.

NIBSS Confirms Failure of 276,852 PoS Transactions On Christmas Eve

Nigeria Inter-Bank Settlement System (NIBSS) says about 25 per cent of Point of Sale transactions conducted by customers on Christmas Eve was not successful.
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