Category: Economy

Okomu Oil Tops Gainers’ Table As Market Capitalisation Opens Week With N37b Growth
May 18, 2020 No Responses

Okomu Oil Tops Gainers’ Table As Market Capitalisation Opens Week With N37b Growth

The Nigerian Stock Exchange (NSE) resumed trading for the week on Monday on a positive trend, with the market capitalisation rising by N37 billion. Speficially, the market capitalisation which opened at N12.440 trillion rose by N37 billion to close at...
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UBA Upgrades Mobile App, Diaspora Banking, Others
May 18, 2020 No Responses

UBA Upgrades Mobile App, Diaspora Banking, Others

 The United Bank for Africa Plc (UBA), on Monday, upgraded its mobile banking applications with unique and exciting features that would make banking easy for Nigerians. Mr Sampson Aneke, the Group Head, Digital Banking, at an online media parley in...
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PwC Nigeria Rolls Out COVID-19 Intervention Packages
May 14, 2020 No Responses

PwC Nigeria Rolls Out COVID-19 Intervention Packages

PwC Nigeria has deployed  one hundred million-naira (N100m) intervention to support individuals, businesses and government in responding to the impact of the COVID-19 pandemic in Nigeria. A statement sent to City BusinessNews (www.citybusinessnews.co...
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Nigeria Receives 24 Ships With Petroleum Products, Food Items
May 14, 2020 No Responses

Nigeria Receives 24 Ships With Petroleum Products, Food Items

Twenty-Four ships laden with petroleum products, food items and other goods are scheduled to arrive the TinCan Island Port in Nigeria from May 14 to May 30, 2020.  The Nigerian Ports Authority (NPA) in its publication, `Shipping Position’, explained th...
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NSE Market Capitalisation Sustains Growth With N87b
May 14, 2020 No Responses

NSE Market Capitalisation Sustains Growth With N87b

Sentiments in the nation’s bourse remained positive on Thursday following price appreciation in Dangote Cement and 17 other stocks. Consequently, the All-Share Index rose by 183.48 points or 0.77 per cent to close at 23,892.92 compared to 23,709.44 achieved ...
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NLNG Seals EPC Contracts With Saipem, Chiyodu, Daewoo
May 13, 2020 No Responses

NLNG Seals EPC Contracts With Saipem, Chiyodu, Daewoo

  By citybusinessnews@yahoo.com Nigeria LNG Limited (NLNG) has signed the Engineering, Procurement and Construction (EPC) Contracts for its Train 7 Project with SCD JV Consortium, comprising affiliates of Saipem, Chiyoda and Daewoo. A statement ...
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Nigeria Seeks $1.2b Loan For Agric Mechanisation
May 13, 2020 No Responses

Nigeria Seeks $1.2b Loan For Agric Mechanisation

The Federal Executive Council (FEC) has approved a loan facility of €1.2 billion to finance  the mechanisation of agriculture in Nigeria. The Minister of Agriculture and Rural Development, Mr Sabo Nanono,  disclosed this on Wednesday while briefi...
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CMA CGM Secures $1.1b Loan
May 13, 2020 No Responses

CMA CGM Secures $1.1b Loan

French container shipping major, CMA CGM has secured a €1.05 billion ($1.1. billion) syndicated loan. According to the company, the loan will be arranged by a consortium of banks BNP Paribas, HSBC France and Société Générale and it would be 70%...
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Dangote Cement Donates 35 Vehicles To Lagos state
May 13, 2020 No Responses

Dangote Cement Donates 35 Vehicles To Lagos state

Dangote Cement Plc has donated 35 operational vehicles to the Lagos State Government to improve security within the Lagos metropolis in order to ensure an investor-friendly environment. Mr Emmauel Ikhazobor, Non-Executive Director, Dangote Cement, presented th...
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Market Capitalisation Loses N133b
May 12, 2020 No Responses

Market Capitalisation Loses N133b

The key performance indices of the Nigerian Stock Exchange (NSE) dropped further on Tuesday by 1.06 per cent amid profit-taking in some blue chips. Consequently, the market capitalisation lost N133 billion to close at N12.349 trillion against N12.482 trillion ...
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Poultry Association Seeks Establishment Of Modular Hatcheries Across Nigeria
May 12, 2020 No Responses

Poultry Association Seeks Establishment Of Modular Hatcheries Across Nigeria

The Poultry Association of Nigeria (PAN) has called on both Federal and State Governments to encourage big hatcheries to set up modular ones across the country. President of the association, Mr Ezekiel Ibrahim, made the call in an interview with...
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Ecobank Holds Virtual Graduation Ceremony For Batch 7 Trainees
May 12, 2020 No Responses

Ecobank Holds Virtual Graduation Ceremony For Batch 7 Trainees

Fifty-Seven trainees, who represent batch seven set of graduates being absorbed into Ecobank Nigeria as full time employees  were recently hosted to a virtual graduation ceremony by the Ecobank Academy as it positions itself as a high quality employer rea...
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Sterling Bank Explains N2.1b Profit In Q1
May 11, 2020 No Responses

Sterling Bank Explains N2.1b Profit In Q1

For the first quarter ended March 31, 2020, Sterling Bank Plc has reported gross earnings and profit after tax of N32.9 billion and N2.065 billion respectively.   The Bank also reported net operating income of N18.779 billion compared with N18.565 bi...
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SEC Nigeria Implores Stakeholders On Full Disclosures, Reopens Head Office
May 11, 2020 No Responses

SEC Nigeria Implores Stakeholders On Full Disclosures, Reopens Head Office

The Securities and Exchange Commission, SEC has reminded regulated entities in the capital market to continue to make adequate disclosures on the impact of COVID-19 on their businesses This was contained in a circular by the Commission to provide update...
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