ABCON restates commitment to compliance, capacity devt
THE Association of Bureaux De Change Operators of Nigeria, ABCON, has its restated its commitment to capacity development and compliance…
Year: 2020
Virus fears wipe $393bn off China’s stock market despite government support moves
Investors erased $393 billion from China’s benchmark stock index on Monday, sold the yuan and dumped commodities as fears about…
Coca-Cola Stock Hits All-Time High After Strong Quarter
Dow component The Coca-Cola Company (KO) posted an all-time high above $59 on Friday, one day after the beverage giant…
Tesla Stock Soars by More Than $100
Tesla’s stock surged on Monday on news that lifted already-rosy investor sentiment for the electric-car manufacturer. The company’s share price…
Finance Act will boost securities lending, REITs investment on capital market — Onyema
The Nigerian Stock Exchange (NSE) says securities lending will witness exponential growth with the elimination of tax on manufactured dividend…
New finance Act to revive nascent $2.77bn asset management industry — NSE
The Chief Executive Officer, NSE Oscar Onyema stated this at a symposium on the Finance Act 2019, in Lagos, saying that since 2014, the Exchange alongside the Securities and Exchange Commission (SEC) as well as other capital market stakeholders have been at the forefront of advocacy with policy makers and tax authorities for favourable tax structures for primary and secondary market activities in the Nigerian Capital Market.
Business interruptions, growing cause of risk in Nigeria — Survey
The report further stated: “After seven years at the top, BI leaped from seventh to third this year and is number one in Africa and Tanzania; number two in Cameroon and South Africa and number four in Ghana. The trend for larger and more complex BI losses continues unabated. Causes are becoming ever more diverse, ranging from fire, explosion or natural catastrophes to digital supply chains and political violence.
Confidence in economy drops in January — CBN
The report stated: “At 28.3 index points, the overall confidence index (CI) indicated respondents’ optimism on the overall macro-economy in the month of January 2020. The business outlook for February 2020 showed greater confidence in the economy, with 61.4 index points.
IMF laments bad roads, absence of scanners at seaports
The International Monetary Fund has lamented the poor roads, lack of single-window platform and absence of scanning machines for Customs operations at the seaports in Lagos.
Minimum wage: TUC silent as ultimatum expires
It was gathered at the time of the ultimatum that about 15 states had started negotiations for the minimum wage while about six states had signed the agreement.
FAAN takes over MMIA toll gate from concessionaire
The Federal Airports Authority of Nigeria on Monday took over the Murtala Muhammed International Airport Access Toll Gate from the…
Honeywell records N58bn revenue in 9 months
HONEYWELL Flour Mills Plc has announced N58.2 billion revenue for the nine-month period ended December 31, 2019, representing six percent…
New VAT rate triggers rise in stock market transaction cost
STOCK market investors and operators will from today pay more as transaction cost for shares traded on the Nigerian Stock…
Domestic debt service of N607b and quests for more
The Federal Government incurred a debt service bill of N606.87 billion on domestic obligations alone in just one quarter. This…
Manufacturing PMI drops to 59.2 index points in January — CBN
The Central Bank of Nigeria, CBN, said that the Manufacturing Purchasing Managers Index, PMI, dropped marginally to 59.2 index points…
Banks’ borrowing from CBN rises 215% to N19.5trn
BANKS’ borrowing from the Central Bank of Nigeria’s, CBN, rose by 215 percent year-on-year (y/y) to N19 trillion in 2019…
UK productivity slowdown worst since Industrial Revolution – study
The slowdown in Britain’s productivity growth over the last decade is the worst since the start of the Industrial Revolution…
Chinese shares drop nearly 9% amid fears of coronavirus impact
Stock markets in China have seen the biggest daily fall for five years as traders rushed to sell amid continued…
Cadbury’s revenue, profit beat estimates in 2019
Cadbury has published its UNAUDITED FY 2019 results announcing a 9.3% y/y increase in Revenue to N39.3bn in FY 2019…
Sterling Bank: Impressive growth in profit despite elevated OPEX
Sterling Bank (Sterling) released its FY 2019 UNAUDITED report, with Gross Earnings coming in flat at N149.5bn, in line with…
Interswitch Limited lists N23 billion bond on NSE
The Nigerian Stock Exchange (NSE or The Exchange) has announced the listing of Interswitch Limited’s N23billion Bond on Friday, 31…
Konga restores investor confidence in Nigeria’s e-commerce
Co-Chief Executive Officer of Konga, Nnamdi Ekeh, said despite investors’ lack of interest in the e-commerce business in 2019, Konga…
Former Citibank executive offers financial literacy tips
A former Group Head, Corporate and Investment, Citibank, Hetty Ugboh, has tasked students to diversify their income resources efficiently across…
How to start a business without capital
The number one thing most people point at as a stumbling block to starting a business is always money. In…
Guinness Nigeria: Revenue recovers but operating performance remains weak
On Thursday, Guinness Nigeria Plc released its H1 2020 financial report announcing 0.8% y/y increase in Revenue to N68.3bn in…
Courteville, Jaiz Bank, Transcorp lead gainers’ chart on Friday
Courteville Business Solutions, Jaiz Bank, Champion Breweries, Transcorp and Oando made the list of top gainers in the Nigerian Stock…
UK-AIS 27 Commercial Deals Worth Over 6.5bn Pounds
We are announcing 27 deals worth over 6.5bn pounds from across the African markets invited to this Summit and we…
MTN Group to sell 14% of its Nigerian business
MTN Group says it is looking to reduce its majority shareholding in its Nigerian subsidiary by 14%. Bloomberg reports that…
LAPO Microfinance Bank unveils ‘My Piking and I’
LAPO Microfinance Bank Limited has unveiled ‘My Pikin and I’, savings account designed to provide support for women and children…
JMG celebrates staff at 20 years anniversary
JMG has recognized its workers that have stayed over 20 years and 10 years in the company. The company gave…