archiveJune 2016

Group Managing Director/CEO of Access Bank, Mr. Herbert Wigwe has said the Bank plans to support more developmental projects as part of its strategic objectives towards Nigeria’s economic development and wealth creation. Wigwe said this during the signing ceremony of the N94.9bn 5-year Medium Term Loan (MTL) for Oando Plc...

  The World Bank cut Nigeria’s economic growth forecast for this year, citing weakness from oil-output disruptions and low prices. The global body in its semi-annual Global Economic Prospects report said Africa’s biggest economy is expected to grow 0.8 percent, down from an estimate of 4.6 percent in January. Growth...

The family of the former captain and coach of the Nigerian Super Eagle, Stephen Keshi, has announced the death of the former tactician. He was reportedly dead at the wee hour of today, Wednesday, June 8th, 2016, aged 54. The statement was signed by his relative and manager, Emmanuel Ado...

The World Bank has announced the downgrading of its 2016 global growth forecast to 2.4 percent from the 2.9 percent pace projected in January. The move is due to sluggish growth in advanced economies, stubbornly low commodity prices, weak global trade, and diminishing capital flows. According to the latest update...

Naira eased 1.1 per cent on the parallel market on Tuesday, as customers trying to hedge against likely currency depreciation when the Central Bank of Nigeria (CBN) clarifies its new forex policy, snapped up every available dollar from retail outlets. The naira was quoted at 361 to the dollar on...

The British American Tobacco Nigeria Foundation, (BATNF), has received further commendations for its efforts in enhancing farming practices among smallholder farmers in rural communities across Nigeria. The Foundation's interventions have reportedly created unique opportunities for smallholder farmers, enabling them to better contend with farming challenges such as lack of capital...

The Federal Civil Service Commission (FCSC) has approved the appointment of Florence Anyanwu as the acting Auditor-General of the Federation. She will take over from Mr Samuel Ukura, who attained the mandatory retirement age of 60 on June 5.2016. This was contained in a statement issued by Olawunmi Ogunmosunle, the...

Equity transaction on the Nigerian Stock Exchange (NSE) continued on a negative trend on Tuesday as the All Share Index declined by 0.45 percent to close at 27,475.48 from the opening value of 27,598.54 even as Market Capitalization dropped N43 billion to close at N9.436 trillion from the opening value...

The Nigeria Customs Service (NSC) has dragged a Chinese, Zhu Jinxin, to  the Federal High Court in Lagos for allegedly attempting to export several logs of wood that was under prohibited list. It was learnt that he brought the wood in a container to Tin-Can Port for export to China....

Oando Plc has announced conclusion of a N94.6 billion facility provided by ten leading financial institutions in Nigeria. The institutions involved in the financing are; Access Bank Plc, Diamond Bank Plc, Ecobank Plc, First City Monument Plc, Fidelity Bank Plc, Keystone Bank Plc, Stanbic IBTC, United Bank for Africa ,...