Economy Archives — Page 142 of 259

March 27, 2023 No Responses

Court Blocks Oyo State Govt’s Accounts In Four Banks Over N3.4b Debt

A High Court of the Federal Capital Territory (FCT), Abuja has issued an order attaching funds standing to the credit of Oyo State Government and its agencies in four banks. Justice A. O. Ebong issued the order while ruling on...

March 26, 2023 No Responses

17 Vessels Discharge Cargo At Lagos Ports

Seventeen vessels are currently discharging petrol, bulk wheat, bulk sugar, bulk salt, frozen fish, petrol, butane gas, soya bean meal, automobile gasoline and bulk urea at the Lagos Ports. The Nigerian Ports Authority (NPA) also disclosed on Saturday that fiv...

March 24, 2023 No Responses

NPA Remittance To Federation Account Hits N91b

The Nigerian Ports Authority (NPA) remittances to the Consolidated Revenue Account (CRA) of the Federal Government have increased from N80 billion to N91 billion in the last one year. The increase in remittance is coming amidst low Importation into the...

March 22, 2023 No Responses

CBN Disburses N12.65b Agric Intervention Fund

The Central Bank of Nigeria (CBN) has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date. The CBN Governor, Mr Godwin Emefiele said this on Tuesday in Abuja, when he read t...

March 22, 2023 No Responses

Experts’ Caution Against Interest Rate Benchmark At 18%

A financial expert, Dr Tunde Adeoye, says increasing Monetary Policy Rate (MPR) from 17.5 per cent to 18 per cent by Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) can lead to a prolonged downturn in economic activities....

March 21, 2023 No Responses

CATA Tasks Tax Administrators On Global Technological Advancements

Tax administrators must keep up with the dynamics occasioned by disruptive new technologies of the 21st century, and arm themselves with the necessary skills, capacity and character for effective and efficient tax administration in the fourth industrial revolu...

March 21, 2023 No Responses

Stock Market Investors Lose N16b

Investors at the stock market of the Nigerian Exchange Ltd. (NGX) on Monday lost N16 billion due to sell-offs in medium and largely capitalised stocks. The NGX All Share Index (ASI) decreased by 29.35 basis points or 0.05 per cent...

March 17, 2023 No Responses

Market Capitalisation Down By N313b

The equity market, on Thursday, extended its losing streak for the fifth successive session as the market capitalisation decreased by N313 billion due to investors’ continued profit-taking. The All Share Index (ASI) fell by 574.59 absolute po...

March 16, 2023 No Responses

Presco Bags Company Of The Year Award

Presco Plc has emerged winner of the year 2022 company of the year award in recognition of its c contribtions to the agricultural sector in Nigeria.. Speaking at the 2023 Investors’s summit held on thursday in Ibadan, Oyo State, the org...

March 16, 2023 No Responses

CRFFN Inaugurates ANLCA Board

The Council for the Regulation of Freight Forwarding in Nigeria (CRFFN) on Wednesday inaugurated an eight-man Board of Trustees (BoT) for the Association of Nigerian Licensed Customs Agent (ANLCA). The inauguration of the BoT took place at the 1st Annual...

March 16, 2023 No Responses

NPA Receives 12 Ships With Petroleum Products, Others At Lagos Ports

The Nigerian Ports Authority (NPA) on Wednesday said 12 ships conveying petroleum products and other goods were expected at Lagos ports from March 15 to March 23, 2023. NPA listed items on board as bulk sugar, frozen fish, general cargo,...

March 15, 2023 No Responses

Stock Market Investors Lose N36b

Investors on the stock market of the Nigerian Exchange (NGX) lost N36 billion at the close of trading activities on Tuesday. Specifically, the equity capitalisation which opened at N30.391 trillion, lost N36 billion to close at N30.355 trillion, representing a...

March 14, 2023 No Responses

Poultry Association Laments Rising Cost Of Eggs

The Poultry Association of Nigeria (PAN) has blamed the hike in the price of eggs on cash scarcity and the rising cost of raw materials. The News Agency of Nigeria (NAN) reports that the cost of a crate of eggs...

March 14, 2023 No Responses

DMO Re-Opens Auction For N360b FGN Bonds

The Debt Management Office (DMO) on Tuesday offered four Federal Government of Nigeria (FGN) Bonds valued at N360 billion for subscription through auction. According to the DMO, the first offer is a February 2028 FGN Bond valued at N90 billion...