Economy Archives — Page 184 of 185

November 18, 2015 No Responses

Buhari faults N1tr food import

President Muhammadu Buhari has described unsustainable the huge amount of resources spent annually on food imports. According to Buhari, who spoke at Birnin Kebbi, Kebbi State during the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme and the take-off of...

November 18, 2015 No Responses

NSE attributes corporate failures to weak governance

THE Nigerian Stock Exchange (NSE) has identified weak corporate governance as the major factor responsible for many corporate failures in Africa. Speaking at the 19th yearly ASEA conference in Johannesburg Chief Executive Officer of NSE, Oscar Onyema Onyema ...

November 18, 2015 No Responses

World Exchanges unveils financial education, literacy initiative

THE World Federation of Exchanges (WFE) which represents public markets around the world, will start a new global industry initiative to promote financial education and entrepreneurial skills among school children and university students, following an overwhel...

November 17, 2015 No Responses

Dangote Cement reward customers with N300m

AS part of measures to compensate and enrich its teeming customers across the country, Dangote Cement has commenced its biggest promo that will benefit 3, 783 customers. The promo, which, began recently will be activated across the country and will...

November 17, 2015 No Responses

MTN gets Friday deadline to pay $5.2b fine

The Nigerian Communications Commission (NCC) has extended to Friday the deadline given to MTN to pay a $5.2billion fine. According to the commission, it sanctioned the telecommunications giant based on security reasons following its failure to deactivate 5.2m...

November 13, 2015 No Responses

Panel accuses NNPC of frustrating crude deals probe

The House of Representatives ad hoc committee set up by the parliament to investigate the alleged shady deals in the Refined Products Exchange Agreements (crude oil swap) has alleged that the Nigeria National Petroleum Corporation (NNPC) conspired to delib...

November 13, 2015 No Responses

Stanbic IBTC money market fund hits N50b

STANBIC IBTC money market Fund has crossed N50 billion marks in net asset Value. Managed by Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, a statement explained that the milestone was attained in October 2015, which further posit...

November 9, 2015 No Responses

World Exchanges approves sustainability policies

November 5, 2015 No Responses

MTN seeks review of $5.2b fine by 80%

MTN Group Limited in South Africa has appealed to the Nigerian Communications Communications (NCC) to review downward the $5.2 billion fine by 80 per cent. Bloomberg reported that the head of research of Renaissance Capital (RenCap) in Nigeria, Mr. Adesoji...

November 2, 2015 No Responses

NCC task consumers on poor service delivery

THE Nigerian Communications Commission (NCC) has challenged consumers to report poor quality of service to the commission. NCC Director in charge of Consumers Affairs Bureau, Abuja, Alhaji Abdullah Maikano made the appeal in Offa, the headquarters of Offa lo...

November 2, 2015 No Responses

Fidelity Bank declares N11.4b profit in Q3

For the third quarter ended September 30, 2015, Fidelity Bank Plc recorded Profit After Tax (PAT) of N11.4billion and gross earning of N106 billion, indicating an increase of 1.8 per cent and 11.0 percent respectively. According to the bank, Gross...

October 30, 2015 No Responses

FG rejects Naira devaluation

The Vice President, Prof Yemi Osinbajo has ruled out the possibility of devaluing the naira, explaining that it was not an appropriate option in the current economic realities. Osinbajo reiterated the government’s position while receiving the Italian Ambas...

October 29, 2015 No Responses

NLC faults Sanusi over calls for naira’s devaluation

The National Headquarters of Nigeria Labour Congress (NLC) has criticized Emir of Kano, Mallam Sanusi Lamido Sanusi for his calls for naira devaluation and fuel subsidy.In a statement yesterday, the central labour body described the calls as “anti-pe...

October 28, 2015 No Responses

Dangote Cement declares N365.5b turnover in Q3

FOR the nine month ended September 30, 2015, Dangote Cement Plc has declared 17.81 per cent growth in turnover to 365.54 billion. Also, sales from Nigeria contributed 39 per cent in the third quarter turnover, which, according to Chief Executive...