AFCFTA: FG Pushes ECOWAS Brown Card Scheme
INSURANCE As Nigeria settles down to the implementation of the African Continental Free Trade Area, AFCFTA, the Federal Government, FG, is pushing for the full implementation of the Economic Community…
‘Nigeria’s Manufacturing Sector Still Struggling To Survive’
Despite the ability to take millions of people out of poverty by way of providing employment opportunities while also creating wealth, the President, Manufacturers Association of Nigeria (MAN), Mansur Ahmed,…
FG Restructures Commodities Exchange, Halts Privatisation Plans
The Federal Government is repositioning the Nigerian Commodities Exchange into a commercially viable platform for delivering efficient pricing of Nigeria’s agric produce, among others. The government has also stopped the…
IMF Foresees Improved Capital Spending In Nigeria
The International Monetary Fund (IMF) has projected that Nigeria’s capital spending will improve this year while anticipating that financing the country’s deficit will remain a challenge with its huge debt…
Emzor Completes Debut N13.73bn 5-Year Corporate Bond
Emzor Pharmaceutical Industries Limited has successfully launched its maiden N13.73 billion 5-year fixed-rate senior unsecured bond Issue due January 2026 under the company’s N50 billion bond Programme. The offering was…
NSE, IFC Promote Gender Equality Among Listed Firms
The Nigerian Stock Exchange (NSE) in partnership with the International Finance Corporation (IFC) will host a workshop to promote gender equality among listed companies on Tuesday, 2 February 2021. According…
Successful Rights Issue Sign of Confidence, Says Transcorp Hotels MD
The Managing Director/Chief Executive Officer of Transcorp Hotels Plc, Mrs. Dupe Olusola, yesterday commended shareholders, regulators, stockbrokers and other stakeholders in the capital market for the successful completion of the…
Market Capitalisation Hits N22tr Mark On Sustained Bargain-Hunt
Following sustained bargain-hunting in most blue-chip stocks, transactions at the Nigerian Stock Exchange (NSE) continued upbeat, as market capitalisation of listed equities hit N22 trillion mark. Yesterday, the All-Share Index…
No Amount Of Funds For Education Is Sufficient, Says Ex-ASUU Chair
Immediate past Chairman, Academic Staff Union of Universities (ASUU), Nnamdi Azikiwe University, Awka, Anambra State, Prof. Dennis Aribodor has canvassed improved budget for the education sector. He described education as…
UEFA Insists European Championship To Hold In 12 Cities As Planned
UEFA President, Aleksander Ceferin, yesterday reiterated the ruling body’s commitment to holding the rescheduled European Championship this year in 12 cities across the continent as originally planned. The 24-nation event,…
Payment Company Warns Against Cyberattacks
Visa, a digital payment company has stated that online transactions, despite its benefits, comes with its attendant risks, which it said must be guarded against. Risk Manager, Visa West Africa,…
Microsoft Profit Soars As Pandemic Speeds Shift To Cloud
Microsoft said Tuesday profit rose sharply in the recently ended quarter as the coronavirus pandemic reinforced the shift to relying on services hosted in the cloud for work, play and…
Indigenous Oil Operators Keen On Expansion Amid Downturn
Despite the current downturn in the global oil and gas sector, some indigenous operators in Nigeria are stepping up efforts to snap up more assets as part of their expansion…
Improved Crude Oil Prices Shoot Nigeria’s External Reserve To 36.23Bn
The CBN says Nigeria’s Foreign Exchange Reserves rose from 34.94billion dollars in November 2020 to 36.23billion dollars as at Jan 21, 2021. CBN Governor, Godwin Emefiele, said at the January…
VAT Collections Hit N454.69b In Q4
The Federal Inland Revenue Service (FIRS) collected Value Added Tax (VAT) worth N454.69 billion in the fourth quarter (Q4) of 2020. It is 7.06 per cent increase over the N424.71…
Company Income Tax Drops By N120.29bn
Total revenue from Company Income Tax dropped by N120.29bn in the fourth quarter of 2020. The National Bureau of Statistics disclosed this in its report on ‘Company Income Tax by…
FEC Approves Policy To Stop Rejection Of Nigerian Goods
The Federal Executive Council (FEC) yesterday approved the National Quality Policy to stop rejection of Nigerian goods exported out of the country. The approval which was given during the 31st…
CIS Inaugurates Committee To Review Code Of Ethic
The Chattered Institute of Stockbrokers has commenced moves to review its Code of Ethics and Standard of Professional Conduct to strengthen the members’ professional practice, enhance their relationship with investors…
Investors’ Wealth Soar By N440 Billion In Three Trading Days
Analyst predicts increased bargain-hunting Transactions on the floor of the Nigerian Stock Exchange (NSE) sustained a current rally for the third consecutive day, as more blue-chip stocks joined the league…
South Africa President Blasts Vaccine Hoarding At Davos Forum
South African President Cyril Ramaphosa on Tuesday lashed “vaccine nationalism,” accusing rich countries of bulk-buying coronavirus vaccines and hoarding them to the detriment of others. Addressing the all-virtual 2021 World…
Nigeria’s Electoral Act: INEC Chair, Senators In Final Push To Amend Law
Senators and some national commissioners of the Independent National Electoral Commission (INEC), including its chairman, Prof. Mahmood Yakubu, yesterday, met to put finishing touches to ongoing amendment of the Electoral…
U.S. Economy Likely Logged Its Weakest Performance In 74 Years In 2020
The U.S. economy likely contracted at its sharpest pace since World War Two in 2020 as COVID-19 ravaged services businesses like restaurants and airlines, throwing millions of Americans out of…
Nigerians React As Buhari Appoints New Service Chiefs
Nigerians yesterday expressed conflicting views as President Muhammadu Buhari finally replaced the nation’s defence chiefs. While some applauded the action, others faulted the President and his action. The retired military…
Google Workers To Form Global Union
Google employees from across the globe are forming a union alliance, weeks after workers at the search engine giant and other units of its parent company, Alphabet Inc. formed a…
NASDAQ Temporarily Shuts Down Stock Trading After Internet Trolls Destroy Hedge Fund With GameStop Stock
The NASDAQ has paused trading after internet “degenerates” spotted Wall Street gearing up to make a killing, beat the traders at their own game, and got filthy rich while destroying…
WhatsApp Clears Misinformation, Reassures Of Account Security
Messaging platform, WhatsApp, has assured that no one would have their account suspended or deleted on February 8, 2021. The messaging platform, with billions of users, said there has been…
Banks’ Credit To Economy Hit N25tn In 2020
Banks’ total credit to the economy rose to N25.02tn as of the end of 2020, the Central Bank of Nigeria has said. This was disclosed during the Monetary Policy Committee…
Fiscal, Monetary Reforms Needed To Fasten Economic Recovery – LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has called on the federal government to show stronger commitment to key reforms aimed at accelerating Nigeria’s economic recovery in 2021. President,…
CBN Retains Lending Rate At 11.5%
The Monetary Policy Committee of the Central Bank of Nigeria has retained the Monetary Policy Rate at 11.5 per cent. The CBN Governor, Godwin Emefiele, disclosed this after the committee’s…
IMF Revises Nigeria’s 2021 GDP Forecasts To 1.5%
The International Monetary Fund (IMF) in its World Economic Outlook (WEO) update released yesterday has projected that the Nigerian economy will grow by 1.5 per cent this year, slightly lower…