Economy Archives — Page 209 of 222

October 31, 2016 No Responses

CBN to sanction fraudulent bank customers

Worried by reported cases of fraud, the Central Bank of Nigeria (CBN) is to put modalities in place to sanction fraudulent bank customers nationwide. Speaking at the October meeting of Nigeria Electronic Fraud Forum (NeFF) in Lagos, CBN Director,...

October 30, 2016 No Responses

Guinness Nigeria explains six per cent increase in revenue

Guinness Nigeria has announced 6 per cent increase in revenue for the first quarter of its financial year ended 30 September 2016. The company attributed the increase partly to contributions from its new mainstream and international premium spirits busi...

October 29, 2016 No Responses

World Savings Day: FirstBank promotes financial literacy

FBNHoldings has announced plan to join the rest of the world in celebrating the 2016 World Savings Day on October 31 by engaging children and youths on the rudiments of savings in line with the Central Bank of Nigeria (CBN)...

October 28, 2016 No Responses

2016 Budget: FG releases N2.5trillion

Still shopping for a sustainable healing barm for the nation’s troubled economy, the Federal Government has so far released N2.5 trillion from the N6.06 trillion 2016 budget, Minister of Budget and National Planing Udoma Udo Udoma has said. Also answering...

October 28, 2016 No Responses

‘Port Harcourt Seaports critical to Nigeria’s economic development’

The President of Port Harcourt Chamber of Commerce (PHCCIMA)Dr. Emi Membere-Otaji has appealed to the Federal Government and all relevant stakeholders to give adequate attention to re- inventing Port Harcourt seaports as part of measures to sustain economic gr...

October 27, 2016 No Responses

World Federation of Exchanges to host 300 delegates at 2016 annual meeting

The World Federation of Exchanges (WFE) has concluded plans to host 300 delegates at its 56th General Assembly & Annual Meeting scheduled for November 2-4, 2016, in Cartagena, Colombia. The event, hosted by Bolsa de Valores de Colombia (BVC), will...

October 26, 2016 No Responses

Minister laments ‘high-level’ corruption in Customs

Efforts by the Federal Government to realize money from revenue generating agencies such as Nigeria Customs Service (NCS) is being hampered by alleged high-level corruption, the Minister of Finance, Kemi Adeosun has said. Addressing members of the Senate Com...

October 26, 2016 No Responses

FG Seeks NASS approval to borrow $29.9b

The Federal Government has forwarded a letter to the National Assembly seeking approval to borrow externally $29.9 billion as part of measures to ensure the prompt implementation of projects. In a letter addressed to the Speaker of the House of...

October 26, 2016 No Responses

Don’t contemplate another fuel price hike, TUC tells FG

The Trade Union Congress (TUC) of Nigeria has advised the Federal Government not to contemplate any increase in the price of petroleum products. The union in a statement on Tuesday described the statement credited to the Group General Manager,...

October 25, 2016 No Responses

FCMB explains late filling of Q3 accounts

The First City Monument Bank (FCMB) Group Plc is to release its nine months ended 30 September 2016 (3Q16) accounts before the end of November, this year. In a notice to the Nigerian Stock Exchange (NSE), the Bank said:...

October 25, 2016 No Responses

NSE gets most innovative Stock Exchange in Africa

The Nigerian Stock Exchange (NSE) has emerged the Most Innovative Stock Exchange in Africa 2016. This award was presented to NSE by The Business Year Magazine. The Business Year Magazine Awards according to a statement issued by NSE...

October 24, 2016 No Responses

Wema Bank declares N37.89b gross earnings in Q3

For the third quarter ended September 30, 2016, Wema Bank Plc has declared N37.8Billion gross earnings, indicating 16.36 per cent growth over N32.57Billion recorded same period in 2015. According to the Bank, the nine-month figure was driven by a...

October 22, 2016 No Responses

Collaboration with London Stock Exchange deliberate, strategic, says Onyema as Adeosun opens trading

The Chief Executive Officer of Nigerian Stock Exchange (NSE), Oscar Onyema has described collaboration with London Stock Exchange (LSE) as deliberate and strategic. Speaking at the third anniversary of London & Lagos Capital Markets partnership confer...

October 21, 2016 No Responses

Dangote canvasses tax relief for SMEs

Foremost Businessman and President/ Chief Executive of Dangote Group, Aliko Dangote, on Thursday urged government at all levels to reduce the multiple taxes placed on small and medium businesses (SMEs). Dangote said in a statement in Lagos explained that...