Category: Economy

FIDELITY BANK APPOINTS PAMELA SHODIPO EXECUTIVE DIRECTOR 
February 11, 2023 No Responses

FIDELITY BANK APPOINTS PAMELA SHODIPO EXECUTIVE DIRECTOR 

Fidelity Bank Plc has announced the appointment of Mrs. Pamela Shodipo as Executive Director, South Directorate following regulatory approval by the Central Bank of Nigeria.    Pamela joins the Board of Fidelity Bank Plc with over 25 years multifunctional and cross-border...
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FEC Approves N117b For Oil Museum  
February 9, 2023 No Responses

FEC Approves N117b For Oil Museum  

The Federal Executive Council (FEC) has approved N117 billion for the construction of Oloibiri oil museum in Bayelsa.  The Minister of State for Petroleum resources, Mr Timipre Sylva, made this known when he briefed State House correspondents on the outco...
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Maersk Explains $29.3b 2022 Profit, Assigns $11b For Integration, Decarbonization 
February 9, 2023 No Responses

Maersk Explains $29.3b 2022 Profit, Assigns $11b For Integration, Decarbonization 

Foremost Container shipping heavyweight, A.P. Moller – Maersk has reported exceptional financial results for the year 2022.  Despite the abnormal market conditions caused by the COVID-19 pandemic, the company reported solid performance across all its bu...
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Naira Re-design Won’t Affect 2023 General Election, Says CBN  
February 8, 2023 No Responses

Naira Re-design Won’t Affect 2023 General Election, Says CBN  

The Central Bank of Nigeria (CBN) says naira re-design won’t affect the 2023 general election, as it will provide required cash and other support needed for smooth conduct of the poll.  Godwin Emefiele, the CBN Governor, said this when he...
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World’s Largest Containership Squeezes Through Suez Canal 
February 7, 2023 No Responses

World’s Largest Containership Squeezes Through Suez Canal 

Evergreen’s giant 24,000 TEU containership, Ever Acme has transited the Suez Canal while on its maiden voyage from Malaysia to the Netherlands.  The ship is the newest addition to Evergreen’s A-type vessel series and can carry over 24,000 co...
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LIRS, FIRS Seal Tax Audit Pact 
February 7, 2023 No Responses

LIRS, FIRS Seal Tax Audit Pact 

The Lagos State Internal Revenue Service (LIRS) and Federal Inland Revenue Service (FIRS) on Monday, February 6, 2023, signed a Memorandum of Understanding on the exchange of information and implementation of joint tax audit and investigation exercise.   ...
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DMO Presents N130b Sukuk Cheque To FMWH, FCTA  
February 7, 2023 No Responses

DMO Presents N130b Sukuk Cheque To FMWH, FCTA  

The Debt Management Office, on Monday, presented cheques of N130 billion being Proceeds of the 2022 Sovereign Sukuk offer to the implementing ministries.   The implementing ministries were the Federal Ministry of Works and Housing (FMWH) and the Federal Capit...
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Group Tasks CBN On PWDs Access To New Naira Notes  
February 3, 2023 No Responses

Group Tasks CBN On PWDs Access To New Naira Notes  

Heal Disability Initiative, a non-governmental organisation, has urged the Central Bank of Nigeria (CBN) to ensure that People with Disabilities (PWDs) have easy access to the redesigned Naira notes.   The organisation also called for inclusion of persons...
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Geregu Power Declares 50.5% Drop In Profit  
February 3, 2023 No Responses

Geregu Power Declares 50.5% Drop In Profit  

Geregu Power Plc has reported 50.5 per cent decline in profit as revenue dropped and earnings impaired negatively.     The company, listed on the NGX last year reported N10.17billion profit in 2022 as against N20.55billion in 2021, while profit ...
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INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 
January 31, 2023 No Responses

INEOS GRENADIER PARTNERS COSCHARIS MOTORS IN NIGERIA 

INEOS Automotive has named Coscharis Motors as its official retail partner in Nigeria.   A statement sent to City Business News explained that Nigeria  is now the sixth market in Sub-Sahara Africa to join the INEOS Automotive brand, followi...
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Reps Minority Caucus Lauds CBN For Extending Deadline On Old Notes 
January 30, 2023 No Responses

Reps Minority Caucus Lauds CBN For Extending Deadline On Old Notes 

The House of Representatives Minority Caucus has commended the Central Bank of Nigeria (CBN) for extending the deadline for swapping of the old naira notes.A statement issued by Rep. Ndudi Elumelu (PDP-Delta), the House Minority Leader on Sunday described the....
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Maersk, MSC Terminate Alliance  
January 25, 2023 No Responses

Maersk, MSC Terminate Alliance  

Container shipping giants, MSC Mediterranean Shipping Company (MSC) and Maersk A/S, an entity under A.P. Moller – Maersk, have agreed to terminate the 2M alliance, effective in January 2025.   2M is a container shipping line vessel sharing agr...
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NIMASA Photo News
January 25, 2023 No Responses

NIMASA Photo News

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Union Bank Save & Win Palli Promo Grand finale Holds Jan 27  
January 25, 2023 No Responses

Union Bank Save & Win Palli Promo Grand finale Holds Jan 27  

Following a six-month successful run, the second edition of Union Bank’s Save & Win Palli Promo is finally coming to an exciting conclusion.A statement sent to City Business News explained that the grand finale event, which is set to hold...
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