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Business News Brief – August 19, 2015



CBN bars foreign firms from printing cheques for Nigerian banks
The Central Bank of Nigeria, CBN, has denied accreditation to foreign printers who hitherto printed cheque books for some Nigerian banks.[Read More…]

Oil spill: Total shuts production from Obagi field
Another oil spill has occurred in oil rich Niger Delta, as Total E&P Nigeria Ltd, TEPNG, said it has stopped expedition of crude on its Obagi-Rumuekpe 12 Oil Export Pipeline in Rivers State.[Read More…]


FG Sets up Investment C’ttee to Track Foreign Investors
In a move to revamp its investment drive and ensure that prospective investors are given the requisite information and support investment in the country,  the federal government on Tuesday set up a committee to track investment across the globe.[Read More…]

Access Bank Completes Rights Issues, Raises N41.8 Billion
Access Bank Plc Tuesday announced successful completion of the Rights Issue of N41.8 billion following the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).[Read More…]

Shoprite to Open 14 New Stores in Nigeria
South Africa’s Shoprite Holdings, Africa’s biggest retailer by sales, will open nearly twice as many stores on the rest of the continent this year as in 2014, its chief executive, Whitey Basson, said on Tuesday.Nigeria will get 14 new stores in the next 20 months and Shoprite is building a distribution centre in the country, aiming to move goods faster as imports into Nigeria can be delayed in ports for up to three months or so, Basson said.[Read More…]


Investors seek compensation for N1.69bn loss
A total of 379 investors, who lost N1.69bn on the Nigerian Stock Exchange, have sought claims from the Investor Protection Fund, data provided by the IPF Board of Trustees, show.[Read More…]

Nigeria loses N197bn to tomato import
The President and Chief Executive Officer, Erisco Foods Limited, Ikeja, Lagos, Mr. Eric Umeofia, has said that the Nigerian government is losing N197bn to the importation of tomato products yearly.[Read More…]

‘NNPC’ll publish transactions from September’
The financial transactions of the Nigerian National Petroleum Corporation will be published periodically to ensure transparency beginning from next month, the Group Managing Director, NNPC, Dr. Ibe Kachikwu, has said.[Read More…]

Buhari to revisit NITEL/MTEL liquidation…raises concerns over telecoms’ poor services
President Muhammadu Buhari on Tuesday expressed his desire to revisit the recent liquidation of the Nigerian Telecommunications Limited and its subsidiary, Mobile Telecommunications Limited.[Read More…]

FG fires AMCON MD, Chike-Obi, others
The Federal Government on Tuesday sacked the Managing Director, Assets Management Corporation of Nigeria, Mr. Mustafa Chike-Obi, in a major shakeup of the executive management team of the firm.[Read More…]


NRC Begins Lifting Of Containers By Rail
The Nigerian Railway Corporation (NRC) has begun lifting containers for Nigeria’s largest container terminal, the APM Terminals Apapa Limited, carrying 35 containers from the Apapa Port in Lagos by railway in its twin maiden service to the APMT’s new inland container terminal in Kano.[Read More…]

Our Polices Don’t Inhibit Innovation – CBN
The Central Bank of Nigeria (CBN) has said its policies are not to inhibit the growth of innovative banking and payments systems but to stimulate it towards achieving the Payment System Vision 20:2020.[Read More…]

Fidelity Bank’s N30bn Bond Listed On NSE
Fidelity Bank Plc’s N30 billion bond has been admitted into the daily official list of the Nigerian Stock Exchange (NSE).The bond, which was listed at the weekend, has been credited into the Central Securities Clearing System (CSCS ) account of the bondholders and trading has now commenced in the secondary market.[Read More…]

GTBank Obtains Multiple ISO Certifications
Guaranty Trust Bank Plc has been awarded a triple International Organisation for Standardisation Certification: ISO/IEC 27001 for Information Security, ISO 20000 for IT Service Management and ISO 22301 for Business Continuity Management along with PAS 99:2012 Integrated Management System certification by the British Standard Institute (BSI).[Read More…]


Lagos Airport Customs Command generates N22.5b
The Murtala Muhammed Airport Command of the Nigeria Customs Service (NCS) says it made N22.5 billion between January and July.Its Comptroller, Mr  Folorunso Adegoke, told the News Agency of Nigeria (NAN) yesterday in Lagos that the highest revenue figure of N5.2 billion was recorded in July.[Read More…]

NCAA orders airlines’ audit
The Director-General, Nigerian Civil Aviation Authority (NCAA) Capt. Muhtar Usman has ordered an immediate commencement of a comprehensive audit of all airlines operating in the country.According to him, this exercise is in line with the Authority’s regulatory and oversight responsibilities.[Read More…]

Cote D’Ivoire firm acquires 28.2% stake in Equity Assurance
A leading Cote D’Ivoire’s insurance company, Sunu Assurances Vie Cote D’Ivorie has received the approval of the Nigerian Stock Exchange (NSE) to acquire 28.2 per cent equity stake in Equity Assurance Plc, in a deal valued at N1.25 billion.[Read More…]


Frontier Oil supplies gas to Alaoji, Calabar power plants
FRONTIER Oil Limited (FOL), an indigenous oil and gas exploration and production company, and the operator of the Uquo Marginal Field and the 200mmscfpd central processing facility, has commenced the supply of gas to Alaoji, Calabar and Ibom independent power plants.[Read More…]


Asia shares shaken as China stocks extend plunge
Asian shares retreated to two-year lows on Wednesday after Chinese stocks extended their plunge, continuing to stoke fears about the stability of China’s economy.[Read More…]

European stocks fall, Carlsberg slumps
European stock markets fell on Wednesday, extending a recent losing streak on the back of persistent worries over China, while drinks group Carlsberg slumped after cutting its outlook.[Read More…]


Index Futures Drop Amid Emerging-Market Slide; Oil, Copper Fall
U.S. and European equity-index futures dropped amid concern that the selloff in emerging markets will spread. Copper and oil fell, while the dollar slipped against the euro before the release of Federal Reserve minutes.[Read More…]


fake richard mille
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