AfDB to support agro-processing zones with $300m
The African Development Bank is to support the implementation of the Special Agro-Industrial Processing Zones project in Nigeria with $300m.…
Month: February 2020
Operators project another negative market as investors lose N162bn
CAPITAL market operators have said that the equities market will record another week of negative returns following sell-off in big capitalised…
Keystone Bank partners NCF on tree planting campaign
KEYSTONE Bank Limited has partnered with the Nigerian Conservation Foundation (NCF) on a tree-planting campaign in Lagos State. The trees…
Coca-Cola Beat Earnings, but Shares Have Gone Parabolic
The Coca-Cola Company (KO) reported better-then-expected earnings before the opening bell on Jan. 30. The stock has been trading higher…
Our tariffs up by 50% April 1 –Ikeja Disco
Ikeja Electric Plc says its tariffs will go up by 50 per cent beginning from April. The Disco disclosed this…
Why telcos retain old SIM users’ records, by ALTON
Telecommunication operators retain the records of former users of old SIM cards in their archives for legal reasons, the Chairman,…
‘FG supports creative industry with N7bn loan’
The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, says the Federal Government has approved a facility of…
Budget 2020 projections realistic – FBN Quest
ANALYSTS at FBN Quest, Lagos-based investment banking firm, have described the 2020 budget and the revenue assumptions in the budget…
NASD urges investors to seek for unquoted stocks
Amid the bearish equities market, the Nigerian Association of Securities Dealers Over-the-Counter (NASD-OTC) has advised investors to seek for unquoted…
Power sector loses N19.15bn in 10 days
The nation’s power sector lost an estimated N19.15bn in 10 days due to constraints from insufficient gas supply, distribution and…
U.S.-Kenya Trade Talks Seen a Risk for Africa Regional Pact
A possible U.S.-Kenya free-trade agreement could undermine an existing continent-wide commerce pact and limit Africa’s power to negotiate with the…
Nigeria Seen Unable to Avert Naira Devaluation Past 2021
Dwindling reserves and lower oil prices will probably force the Nigerian central bank to devalue one of the world’s most…
IMF’s Georgieva Says Lack of Reforms Is Hurting Global Economy
The head of the International Monetary Fund said the lack of deeper improvements in the global economic system is hindering…
Subscribers must explain need for new mobile lines – Minister
Existing subscribers to telecommunications services who want new telephone lines must be made to explain why they need the lines,…
Salaries and wages commission develops five-year strategic plan
The National Salaries Incomes and Wages Commission has developed a five -year strategic plan to enable it to achieve its…
FG appoints committee for new economic development plan
As the Economic Recovery and Growth Plan ends in December, the Federal Government has set up a steering committee to…
Oyetola presents N1.2bn bonds to retirees
Osun State Governor, Adegboyega Oyetola, on Friday presented a total sum of N1.2bn bonds to some retired workers, who are…
Senate summons AGF, CBN over N596bn ecological fund
The Senate, on Thursday, following an audit query from the office of the Auditor General of the Federation, summoned the…
Stock market down N95bn on sale pressure
Activities on the Nigerian bourse on Thursday reversed Wednesday’s positive sentiment with a loss of N95bn in market capitalisation following…
Nigeria’s oil exports fall as explosion shuts pipeline
The nation’s oil exports have suffered a setback as an oil pipeline explosion forced the Nigeria Agip Oil Company, a…
Olam, Massachusetts Institute collaborate on food workshop
Global agribusiness firm, Olam International, has announced a collaboration with the Massachusetts Institute of Technology Solve (MIT Solve) to design…
AfDB’s faults World Bank on Nigeria, Africa’s debt profiles
The African Development Bank has said that the upward debt trend of some African countries did not portend systemic risk…
Indiscriminate tax waivers affected FIRS revenue target — FIRS boss
The Executive Chairman Federal Inland Revenue Service (FIRS), Mr Muhammad Nami, has blamed non-discretionary tax waivers, illicit financial outflows and…
Forex: CBN introduces longest Naira-settled Forwards contract
In a bid to reduce demand pressure in the foreign exchange market, and enhance dollar inflow into the economy, the…
Agriculture: CBN’s revised policy on the dairy industry
In a recent circular signed by the Director, Trade and Exchange, Dr Ozoemena Nnnaji, the CBN restricted the number of companies…
SEC may announce new recapitalisation programme for capital market operators
Capital market operators should be bracing up for recapitalisation programme as indications emerged on Thursday that the Securities and Exchange…
Diaspora remittance: Reps, NIDCOM reject CBN’s currency conversion policy
The House of Representatives and the Nigerians in the Diaspora Commission have criticised the Central Bank of Nigeria policy that…
Tin Can Command targets N540 billion revenue for FG in 2020
The Tin Can Island Command (TCIC) of the Nigerian Customs Service has disclosed plans to achieve its N540 billion revenue target this…
CBN’s N154.38 billion T-bills auction over subscribed by 46% as rates fall marginally
The Central Bank of Nigeria’s (CBN) second Treasury Bills Auction of the year worth N154.38 was oversubscribed by 46% yesterday, with marginal fall…
NLNG signs supply agreement with Galp Trading SA
Nigeria Liquefied Natural Gas (NLNG) has signed an agreement with Galp Trading SA to supply one million tonnes of LNG per year.…