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Business News Brief – July 28, 2015



Banks to publish loan defaulters next week-Banks and discount houses will from next week August 1st commence the publication of the list of loan defaulters in newspapers, as directed by the Central Bank of Nigeria.[Read More…]


Nigeria’s external trade drops to $26.74 billion-Nigeria recorded an estimated total external trade of $26.74 billion in the first quarter of 2015, representing a decline of 17.1 per cent and 27.2 per cent, respectively, from their levels recorded in the preceding and corresponding quarters in 2014.[Read More…]


Oil falls below $54, threatens Nigeria’s savings-The global benchmark Brent crude hit a four-month low of $53.33 per barrel on Monday, thereby threatening the expected accretion to Nigeria’s Excess Crude Account this year.[Read More…]

FBN Money Market Fund retains ‘Aa (f)’ rating- The FBN Money Market Fund managed by FBN Capital Asset Management has retained its Agusto & Co fund risk rating of ‘Aa(f)’.[Read More…]

FG’s gross revenue hits N485bn in June-The gross revenue of the Federal Government rose for the second month in June, hitting N485.95bn ($2.44bn), Reuters reported on Monday quoting the Ministry of Finance.[Read More…]

BVN: NIBSS partners foreign firm for Nigerians abroad-The Nigeria Inter-Bank Settlement System Plc says it has collaborated with a foreign company, Online Integrated Solutions, to enable it carry out a biometric registration of Nigerians in the Diaspora.[Read More…]

States to repay bailout loans from allocations-The bailout package being prepared by the Central Bank of Nigeria for the 36 states of the federation is to be deducted from their statutory allocations, findings have revealed.[Read More…]


BOI Bags ISO Certification on Quality Management Systems-The Bank of Industry (BOI) has received the ISO ‎9001:2008 Quality Management Systems Certification for raising its standards of operations, policies and excellent customer relationship in the country.[Read More…]

Widening Gap in Interbank, Parallel Forex Markets Spurs Round-tripping-As the Central Bank of Nigeria’s (CBN) earnings-constraining regulations as well as its tight monetary policies continue to eat deeply into commercial banks’ profitability, the yawning gap between the interbank and the parallel market forex rates has created an arbitrage window for Nigerian banks to speculate and round-trip in order to boost their earnings, THISDAY learnt monday.[Read More…]

Nigeria’s Gas Reserves Life Index Stands at 79 Years, Says DPR-The Department of Petroleum Resources (DPR) has stated that Nigeria’s gas reserves of 188 trillion cubic feet (TCF) would be exhausted within 79 years from January 1, 2015.[Read More…]


Nexim supports Benue agro sector with N4b-The Nigerian Export Import Bank (NEXIM Bank), has  disbursed about N4.14billion in aid of agro-allied industries in Benue State, the Managing Director, Robert Orya, has said.[Read More…]

Nigeria loses over N100b yearly to Open Skies policy-NIGERIA is losing over N100 billion yearly to the Open Skies agreement with  other countries, a former director of the Nigerian Civil Aviation Authority  (NCAA), Captain Adeyemi Dare, has said.[Read More…]


Asian stocks edge up despite fresh China market volatility-Asian stocks rose from the day’s lows on Tuesday as Chinese shares see-sawed after Beijing scrambled to prop them up while some investors took shelter from market volatility in safe-haven assets such as government bonds and the Japanese yen.[Read More…]

European shares close sharply lower on China concerns-European equities dropped to a two-week low on Monday, recording their fifth straight daily decline, as fears for China’s growth prospects overshadowed some forecast-beating results.[Read More…]


Greece’s New Talks With Creditors Start With Dispute Over Past-Greece’s latest cycle of talks with its creditors started with a quarrel, as officials argued over what prior commitments the government has yet to implement in order to tap emergency loans next month.[Read More…]

fake richard mille
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