Category: Economy

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 briefing State House correspondents after the...
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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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Emefiele Assures Investors On Forex Repatriation
May 11, 2020 No Responses

Emefiele Assures Investors On Forex Repatriation

Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has assured investors of the security of their investments in the country in spite dwindling revenue from the sale of crude oil globally. The CBN’s Director, Corporate Communications Department, Mr ...
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Stallion Group Partners Morsun Mobile Clinics On Free Medical Treatment In Lagos
May 11, 2020 No Responses

Stallion Group Partners Morsun Mobile Clinics On Free Medical Treatment In Lagos

By citybusinessnews@yahoo.com Stallion Empowerment Initiative (SEI), the charity arm of Stallion group has sealed partnership with Morsun Mobile Clinic to offer free medical consultations and drugs to Lagos State residents.  A statement issued at the...
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Balogun Retires From Lafarge Africa As Chairman
May 8, 2020 No Responses

Balogun Retires From Lafarge Africa As Chairman

Lafarge Africa on Friday announced the retirement of Mr Mobolaji Balogun as the chairman of the company effective June 4. The company said this in a statement by Mrs Folashade Ambrose-Medebem, Director, Communications, Public Affairs and Sustainable Developmen...
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COVID-19: SIFAX Group Boss Lists Recovery Strategies For Businesses
May 8, 2020 No Responses

COVID-19: SIFAX Group Boss Lists Recovery Strategies For Businesses

In order for businesses to survive the current economic crunch as a result of the COVID-19 pandemic, a comprehensive review of business processes and operations as well as willingness to adapt to new realities will be key. According to Mr....
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NSE Ranks Second In Bloomberg’s Best Performing Indexes
May 8, 2020 No Responses

NSE Ranks Second In Bloomberg’s Best Performing Indexes

Despite  the global Coronavirus (COVID-19) pandemic,the Nigerian Stock Exchange (NSE) has continued to enjoy significantly rallies in recent weeks.  As the Exchange sustains remote trading, free flow of information and vibrant market activity, the index ha...
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NSE Boosts Fight Against Coronavirus With N100m
May 7, 2020 No Responses

NSE Boosts Fight Against Coronavirus With N100m

The Nigerian Stock Exchange (NSE) has committed the sum of N100 million to support the fight against coronavirus pandemic in the country. The exchange explained in a statement on Thursday that N60 million out of the N100 million would be...
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