archiveAugust 16, 2016

For second day running, equity transactions on the Nigerian Stock Exchange (NSE) closed positive as investors on the Exchange gained N24.9 billion as the All-Share Index (ASI) and Market Capitalisation closed at 27,389.02 basis points and N9.406 trillion respectively on Tuesday compared to 27,316.52 basis points and N9.381 trillion  recorded...

In its efforts to tackle liquidity challenges, the managing director, Jaiz Bank Plc, Mallam Hassan Usman, said the bank is in process of developing sharia compliant investment instruments in Nigeria. He disclosed that the corporation wishes Debt Management Office (DMO) and the Federal Ministry of Finance to expedite the commencement...

The Standard Organisation of Nigeria (SON) and Nigerian Customs Service (NCS) have concluded arrangements to fight importation of substandard products into the country. SON and NCS entered into the collaboration yesterday, during the visit of the acting Director General of the organisation, Dr.  Paul Angya to the Zonal Coordinator of...

The Central Bank of Nigeria (CBN) has increased the limit foreign exchange that banks can sell to Bureaus De Change (BDCs) from $30,000 to $50,000. Managing Director United Bank for Africa (UBA), Mr. Kennedy Uzoka told journalists on Tuesday in Abuja after the Bankers’ Committee meeting that the decision was...

Former Director-General, Manufacturers Association of Nigeria (MAN), Mr. Jide Mike, has disclosed that Nigeria’s manufacturers devote 30 to 40 per cent of their expenditure to alternative energy sources. Mike stated this at a presidential dialogue session organised by the Lagos Chamber of Commerce and Industry (LCCI) recently. According to him,...

The Nigeria Immigration Service has resolved to re-screen the 2000 recruits that were dismissed following their “irregular” letters of appointment in February, 2015. In a statement by its Spokesman, Muhammad Babandede, the Comptroller-General of NIS, said that the Federal Government had approved the review of the lingering case and the...

Dangote Flour Mills Plc has returned to profitability as it posted a profit before Tax (PBT) of N2.64 billion in the half-year ended June 30, 2016, compared to a loss of N9.55 billion posted at the corresponding period in 2015. According to the half- year report of the company released...

  Targets mining contribution to GDP of 7% from 0.3% in a decade Nigeria is looking for investments of $7 billion in mining and steel in the next ten years as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy. According to Bloomberg report...

Following a merger with global marketing conglomerate Publicise Groupe’s MLS Group, top public relations firm Quadrant MLS has sacked 13 key staff, it was learnt. The agency’s Managing Director, Bolaji Okusaga, said that the management was compelled by the need for better efficiency. According to sources, top management staff members...