archiveJune 1, 2018

  The Minister of Power, Works & Housing, Mr Babatunde Fashola, on Friday urged investors not to panic over the negative trend being experienced in the Nigerian Stock Exchange (NSE). Speaking at the NSE-London Stock Exchange (LSE) Dual Listing conference in Lagos, Fashola said investors should be calm because the...

The capital market bowed to sell pressure by investors on the first trading day in June, with crucial indicators of its performance declining. For instance, the market capitalisation shed N467 billion or 3.38 per cent on Friday to close at N13.335 trillion against the N13.802 trillion recorded on Thursday. Similarly,...

Nigeria’s central bank said on Friday it had injected $331.41 million into the interbank foreign exchange market, continuing its efforts to boost liquidity and alleviate dollar shortages. The bank said the funds were allocated to companies in the agricultural, airline, petroleum and machinery sectors. The central bank is “buoyant enough...

  FMDQ Clear Limited and Frontclear have signed an agreement to jointly enhance Nigeria’s first central clearing house structure, with the support of a settlement guarantee fund. According to a press statement from FMDQ, the collaboration is the culmination of a long-standing working relationship focused on improving how the Nigerian...

  ***Back devolution of powers, fiscal federalism, restructuring   Six governors under the auspices of the  South South Governors Forum have resolved to unanimously work with like minds to ensure that the country is restructured, returned to true federalism with powers devolved from the Centre to the federating units. The...

Jumia has concluded plans to launch a series of exciting activities around the 2018 FIFA World Cup in a bid to drive support for the Super Eagles and reward millions of Nigerian football fans for participating during the period of the tournament. The World Cup fixture is slated for June...

The Minister of Budget and National Planning, Senator Udoma Udo Udoma has reiterated the fact that Nigeria’s economic outlook for 2018, and over the medium term, is very positive. He indicated that government is continuing to roll out initiatives, such as the ERGP focus labs, aimed at attracting sufficient private...

The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMBs) to pledge collateral of N1 billion worth of government/CBN securities for OTC trade settlement. The Director, financial markets Department, Dr. Alvan Ikoku in a circular, with reference FMD/DIR/CIR/GEN/09/003  to all DMBs said the apex bank aimed to enhance...

  The Central Bank of Nigeria (CBN) said the nation’s manufacturing sector grew at a slower rate in May. The May edition of the CBN’s Purchasing Managers’ Index revealed that the manufacturing sector has been increasing for 14 consecutive months. According to the Index, "The Manufacturing PMI in May stood...

  Conoil Plc has proposed N1.4billion as dividend payout to its shareholders for its last financial year in the face of daunting economic challenges in the country. This translates to N2.00 on every 50 kobo ordinary share. It is in line with the Company’s consistent dividend policy, over the years,...