Oil and Gas Free Zones Authority Nigeria


Oil Price Slumps: Hit New Three-month Low

World oil prices descended this week to their lowest levels for more than three months, rocked by renewed worries about a global supply glut and increased production. The market extended its losses on Friday to a seventh straight day, as traders’ screens were awash with red. In morning deals in London, Europe’s main contract Brent North Sea crude slid to ...

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Skye Bank Gets Life-line: Affirms CBN’s N101b Recapitalisation

The much-anticipated lifeline for troubled Skye Bank Plc has finally arrived, with a recapitalization to the tune of over N100 billion. A top and reliable source in the bank confirmed to The Guardian yesterday, that the funding was about $315 million and worth more than N101 billion from the apex bank, to smoothen their operations again. The newly appointed Managing ...

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Zenith Bank Is Nigeria’s Most Customer Focused Bank-KPMG

zenith bank

CLINCHES WORLD FINANCE ‘BEST CORPORATE GOVERNANCE AWARD’ 2016 Zenith Bank Plc has emerged as the bank with the most satisfied customers in Nigeria. According to the Africa Banking Industry Customer Satisfaction Survey released by KPMG for 2016, Zenith Bank led with 74.6 points to clinch the prime position in the retail banking category, followed by Guaranty Trust Bank (74.1), Diamond ...

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Nigeria Labor Congress Orders Buhari To Reverse Pump Price In 3 Days Or Face Indefinite Strike

nlc tuc

The Nigeria Labor Congress (NLC) has ordered the federal government to revert to the original price of petrol by Tuesday next week or face indefinite strike from workers. Addressing the press after it’s National Working Committee meeting in Abuja today, NLC leaders also urged asks Nigerians to stockpile food ahead of the protest against fuel subsidy removal. JOINT COMMUNIQUE ISSUED ...

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Buhari Bows To IMF Pressure, To Devalue Naira 290 To Dollar

After months of insisting that he had no plans to devalue the naira, President Muhammadu Buhari has caved to pressure to change course, SaharaReporters has learned from an exclusive briefing by a few top aides of the president. A day after the Buhari administration increased the price of the pump price of fuel by 67%, from N86.5 to N145 a ...

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Shell cuts 2016 spending to $30b as profit tumbles

Royal Dutch Shell has drastically reduced its capital spending for 2016 to $30 billion, even as it recorded $4billion profit, but an 83 per cent drop in its earnings for the first quarter of 2016. Shell, and other oil multinationals are currently facing tough times due to low crude prices, but its Chief Executive Officer, Ben van Beurden, said its ...

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Investors stake N6.4b in equities in four days


The Nigerian Stock Exchange recorded a turnover of 910.659 million shares worth N6.409 billion in 15,023 deals last week. This volume of shares traded was; however, lower than a total of 1.210 billion shares valued at N7.115 billion that changed hands in 15,973 deals during the preceding week. The drop in turnover, may, however, be attributed to the one-day public ...

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