City BusinessNews – Page 287 – City Business News

September 16, 2022 No Responses

Selloffs Persist As Equity Market Drops N19b

Profit-taking continued on Thursday as the market capitalisation of the Nigerian Exchange Ltd. (NGX) lost N19 billion to close at N26.721 trillion as against N26.740 trillion the previous day. The All Share Index (ASI) also decreased by 35.45 points or...

September 13, 2022 No Responses

FCCPC Targets N14.3b Revenue In 2023

The Executive Vice Chairman, Federal Competition and Consumer Protection Commission (FCCPC), Mr Babatunde Irukera, on Monday, disclosed that the commission had a target revenue of N14.3 billion for 2023. Irukera made this known at a hearing on the 2023-2025 ...

September 13, 2022 No Responses

Ecobank Group Appoints Jeremy Awori CEO

Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, on Monday, announced that the current Group Chief Executive Officer, Ade Ayeyemi, will retire after he attains the age of 60, in accordance with ETI policy. Ac...

September 13, 2022 No Responses

Minister To NIMASA: Deploy Modular Floating Dockyard

The Minister of Transportation, Mr. Mu’azuJaji Sambo has charged the Management of the Nigerian Maritime Administration and Safety Agency, NIMASA, to ensure prompt deployment of the Modular Floating Dockyard the Agency acquired sometimes ago.&n...

September 12, 2022 No Responses

SEC Harps On Crowdfunding Benefits

The Securities and Exchange Commission (SEC) has said that the operationalization of Crowdfunding will accelerate the Financial Inclusion agenda in Nigeria while increasing the quantum of investible funds by unlocking the untapped capital in the economy. ...

September 10, 2022 No Responses

SON To Return To Nigeria’s Borders Soon, Says DG

The Standard Organisation of Nigeria (SON) is working on plans to return to the nation’s land borders to check the influx of fake and substandard products into the country.Malam Farouk Salim, Director General, SON, said this at the one-day Stakeholders’...

September 9, 2022 No Responses

Q2: Nigeria’s Total Trade Stands At N12.841b

Nigeria’s total merchandise trade stands at N12,841.54 billion, in the second quarter of 2022, the National Bureau of Statistics(NBS), has said. This is according to the NBS Foreign Trade in Goods Statistics Report for Q2 2022 released in Abuja on...

September 9, 2022 No Responses

Equity Market Recovers N29b

Bullish sentiment returned to the Nigerian stock market on Thursday following investors’ interest in Union Bank and United Bank for Africa (UBA) as the first gain of the week. Specifically, the market capitalisation rose by N29 billion or 0.11 per...

September 7, 2022 No Responses

FMDQ Approves N30b Commercial Paper programme To Boost Agriculture

The FMDQ Securities Exchange Ltd. has approved the registration of the Johnvents Industries Ltd N30 billion Commercial Paper (CP) to boost agriculture productivity. A statement issued on Tuesday explained that the approval was in furtherance of the compa...

September 6, 2022 No Responses

APM Terminals Apapa Sets New Safety Record

APM Terminals Apapa has set a new safety record at the port with 400 days of no Lost Time Injury (LTI). No Lost Time Injury (LTI), a key indicator of the effectiveness of an organisation’s safety programme, means no injury...

September 6, 2022 No Responses

GTCO Post N103.2b Pre-Tax Profit In H1

Guaranty Trust Holding Company Plc (GTCO) has posted a profit before tax of N103.2 billion for the period ending June 30. The bank stated this in its audited consolidated and separate financial statements to the Nigerian Exchange Group (NGX) and...

September 3, 2022 No Responses

NAFDAC Warns Importers, Exporters Against Sharp Practices At Ports

The National Agency for Food and Drugs Administration and Control (NAFDAC) has advised importers and exporters in the Eastern Ports and Bonded Terminals to adhere to the rules and regulations guiding ports’ operations. Head, Ports Inspection Directorat...

September 2, 2022 No Responses

Tanker Refloated After Blocking Suez Canal

The Suez Canal was blocked for several hours after an oil tanker got stranded in the single-lane stretch of the canal — nearly the same spot where the Ever Given containership remained stuck for days in March 2021. On late...

September 2, 2022 No Responses

Etihad Cargo Reiterates Commitment To US With 27 Weekly Flights

Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, has reinforced its commitment to the US market with the introduction of an additional 50 tonnes of belly capacity via four new weekly direct passenger flights to John F. Kennedy...