Economy Archives — Page 202 of 222

March 1, 2017 No Responses

Dangote Cement export 0.4million tons, generates ₦615.1 billion in 2016

For the year 2016, Dangote Cement Plc exported 0.4 million tons of Cement to other countries and generated N615.1Billion revenue. Presenting its 2016 full year audited results on the floor of the Nigerian Stock Exchange (NSE) in Lagos on Tuesday,...

March 1, 2017 No Responses

Osinbajo tasks SON, NAFDAC, others on regulatory approvals within time limits

It is the role of government’s regulatory agencies to act as catalysts of beneficial change and to take responsibility for facilitating businesses in the country, the Acting President, Yemi Osinbajo has said. “We must see ourselves as agents of some...

February 28, 2017 No Responses

FG flags off presidential initiative on fertilizer, targets 100,000 jobs

The Presidential Fertilizer Initiative of the Federal Government produced more than 4,000 metric tonnes of locally-blended fertilizer in the first week of operation. The Initiative was approved by President Muhammadu Buhari in December 2016, to achieve t...

February 28, 2017 No Responses

2016: Zenith Bank declares N129.65b profit, reward shareholders with N1.77 dividend

For the year ended December 31, 2016, Zenith International Bank Plc has declared a profit after tax of N129.65 billion and a final dividend of N1.77 per share This is contained in the company’s audited report released by the Nigerian...

February 27, 2017 No Responses

SEC Seals Yuan Dong over ‘illegal activities’

Citing need to protect investors and ensure that illegal operators are not allowed to operate in Nigeria’s capital market, the Securities and Exchange Commission, Nigeria (SEC) has sealed up the premises of Yuan Dong (YDEC). According to a statement by.....

February 26, 2017 No Responses

Dogara lauds Oslo Summit on Food Crisis in North East

Speaker of the House of Representatives Yakubu Dogara, has commended the convening of World leaders in Oslo, Norway, “which saw donors pledging $672 to tackle food crisis in the north east for the next three years”. In a statement issued...

February 25, 2017 No Responses

2017: Customs targets N1.1 tri revenue

For the year 2017, the Nigeria Customs Service (NSC) has set a revenue target of N1.1 trillion. At the end of a strategic management meeting, the Comptroller-General of Customs, Hameed Ali,in a statement issued by national Public Relations Officer (PRO),...

February 24, 2017 No Responses

CBN re-introduces charges on cash deposits, withdrawals

About three years after the policy was suspended, the Central Bank of Nigeria (CBN) on Thursday announced the re-introduction of bank charges on certain categories of cash deposits and withdrawals. In a circular to all Deposit Money Banks posted on...

February 22, 2017 No Responses

FG adopts 60-day plan on ease of doing business at seaports, airports, others

The Presidential Enabling Business Environment Council (PEBEC) chaired by Acting President, Yemi Osinbajo, has approved a 60-day national action plan to push through short term reforms at seaports, airports and other locations . The Acting President, who addre...

February 21, 2017 No Responses

WFE explains FSB’s access to financial market infrastructure

The World Federation of Exchanges (WFE) has responded to a consultation from the Financial Stability Board (FSB) related to the Continuity of Access to Financial Market Infrastructures (FMIs) for a Firm in Resolution. Whilst focused on situations where a firm....

February 21, 2017 No Responses

Unauthorised Employment: Labour faults alleged agenda to sack 3,500 workers

Organised Labour under the aegis of Association of Senior Civil Servants of Nigeria (ASCSN) has flayed alleged plan by the Federal Government to sack 3,500 public servants “under the guise that their appointments were irregular and unauthorized”. In a pr...

February 21, 2017 No Responses

CBN announces new foreign exchange policy

The Central Bank of Nigeria (CBN) has unveiled a new foreign exchange policy with immediate effect. According to the CBN, in order to ease the difficulties encountered by Nigerians in obtaining funds for foreign exchange transactions, it would henceforth be...

February 20, 2017 No Responses

PwC survey predicts distruption of Nigeria’s financial service sector

Nigerian Retail banking and Payments sectors will be the most disrupted by a group of new companies building financial technology (FinTech) solutions, PwC’s Nigeria FinTech Survey 2017 report has predicted. According to PwC, the report is the result of insig...

February 16, 2017 No Responses

Nigeria seeks improved trade relations with U.S.

The U.S. Chamber of Commerce’s U.S.-Africa Business Center Tuesday hosted the Nigerian Minister of Industry, Trade and Investment Dr. Okechukwu Enelamah for a roundtable discussion with U.S. business executives at their office in Washington, D.C. The convers...