archiveAugust 2016

Financial Markets Dealers Quotations (FMDQ) has admitted N16.79 billion commercial paper of UACN Property Development Company to its OTC securities Exchange. It was another notable stride in FMDQ’s drive to create a vibrant and successful commercial paper market, as the UPDC became the fifth company admitted for quotation following the...

GlaxoSmithKline Consumer Nigeria Plc approved the company’s plan to sell its drinks business to Suntory Beverage and Foods Limited for $79.2 million (N15.7 billion) to concentrate on its core business of healthcare. This is according to a report made available to journalists after its 2015 Annual General Meeting (AGM) in...

The Chairman, Berger Paints Nigeria Plc, Dr. Oladimeji Alo, lamented the harsh operating environment which has impacted negatively on the manufacturing sector as its contribution to the Gross Domestic Products, GDP, in third quarter of 2015 slowed down to 9.4 per cent. The Chairman who disclosed this at the company’s...

With the Risk Based Supervision (RBS) expected to commence in insurance industry, Royal Exchange Plc said it is planning to recapitalise in a bid to have the required capital structure for bigger ticket risks. Group Managing Director (GMD) of the company, Mr. Auwalu Muktari, who stated this in Lagos, over...

The decision of the Central Bank of Nigeria (CBN) to sell the dollar to Nigerian Hajj pilgrims at lower than the current exchange rate has been defended despite the sharp fall in the value of the Naira. Each pilgrim is entitled to purchase a minimum of $750.00 and maximum of...

Nigerian National Petroleum Corporation (NNPC) on Tuesday ruled out possibility of imminent increase in the pump price of Premium Motor Spirit (PMS). There are online reports suggesting that the Federal Government will soon increase the price which was increased in May from N86 to N145 per litre. But speaking, at...

The Minister of Finance, Mrs. Kemi Adeosun on Tuesday explained that the Federal Government opted for a conservative borrowing plan to fund the critical sectors of the economy and to ensure that future generation is not saddled with the burden of debt payment. The Minister, who described borrowing as inevitable...

The Central Bank of Nigeria, (CBN) has charged Authorized Dealers, who are agents to the approval of International Money Transfers Operators (IMTSO), to sell foreign currency cash to licensed Bureau De Change operators (BDCs), subject to a maximum of USD30,000.00 ( Thirty Thousand United States Dollars) weekly. The apex bank,...

The Minister of Trade, Industry and Investment, Mr Okechukwu Enelamah, on Tuesday said the Federal Government was following the guidelines of the policies around sectors with “comparative or relative advantage” to diversify the economy. Speaking on Channels Television programme Sunrise Daily he said, “These sectors range from agro-processing, where we...

Paul Pogba has completed his return to Manchester United from Juventus for £90 million, making him the world's most expensive footballer. Manchester United announced his signing from Juventus. According to Yahoo News, the France international has agreed a five-year deal to move back to Old Trafford, with the option to...