Nigeria earned N412.983 billion from the export of Liquefied Natural Gas, LNG, Liquefied Petroleum Gas, LPG, also known as cooking gas and other gaseous materials in three months, between July and September 2015, according to data obtained from the National Bureau of Statistics, NBS.

IN response to the several complaints from Investors Forum over the Electronic Dividend Mandate Management System (e-DMMS) portal, the Securities and Exchange Commission (SEC) has set up a monitoring team to monitor compliance with the implementation of the initiative.

THERE is a need to raise funds from private initiatives such as ‘I Will Give’ (IWG) for government to finance costs associated with social needs of the people, a panel of experts said at a forum in Lagos.

NIGERIANS may have inadequate power supply for a long time as Sam Amadi, the out-going Chairman, Nigerian Electricity Regulatory Commission, NERC, said that 6,000 megawatts of regular supply of electricity is needed before power outages can be significantly reduced in the country.

Investors and members of the Manufacturers Association of Nigeria (MAN) in the agricultural sector have called on the new honourable Minister of Agriculture, Chief Audu Ogbe, to help in the reversal of the Central Bank of Nigeria (CBN) forex policy that included one of their most important raw materials; Crude Palm Oil (CPO) on the ‘not valid for forex’ list.

The regulators in the Nigerian capital market in the year 2015 focused on reforming the sector to rekindle investor confidence, which was eroded during the financial global meltdown in 2008/2009. The Securities and Exchange Commission, SEC and Nigerian Stock Exchange, NSE have been the major driver of this reform through regulations and enforcement , strengthening market institutions, promoting corporate governance, supporting innovative technology and prioritising cooperation both domestically and internationally

At the backdrop of expected significant drop in revenue accruable to the three tires of government from the monthly Federation Account Allocation Committee, FAAC, state governments may need fresh bailout arrangements as none of them have indicated plans to rejig budgets in line with the merging fiscal realities.

Union Bank faces the challenges of inability to grow revenue and that could lead to a drop in gross earnings for the bank at full year. Rising interest cost is hurting profit capacity and the bank isn’t likely to achieve up to one-half of its preceding year’s profit based on the third quarter growth rate. Revenue is constrained by non-interest income, which declined by 13% year-on-year at the end of the third quarter while interest income has slowed down due to a continuing drop in the investment portfolio.

The second notable restriction was the Exclusion of 41items from the official foreign exchange market. Then in August the CBN banned acceptance of foreign currency deposit into domiciliary accounts. In addition to the above was the reduction in the limit on usage of naira debit cards abroad. From $150,000 per annum the limit was reduced to $50,000 per annum per naira debit card. The daily cash withdrawal limit was pegged at $300.

HONGXING Steel Company Limited, said weekend, it has created employment for over 200 Nigerians since the company began operation in the country eight years ago. The company’s Deputy Managing Director, Mr. Feng Zhengke, disclosed this during their end of the year party 2015 which was attended by both their Chinese and Nigerian staff across the company’s plants in Lagos.