Economy – Page 217 – City Business News

July 31, 2022 No Responses

ABCON Urges CBN To Float Naira

The Association of Bureaux Des Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to float the Naira to halt its further depreciation. The President of ABCON, Alhaji Aminu Gwadabe, made the appeal on Saturday in...

July 30, 2022 No Responses

Unity Bank Posts N27.6b Gross Earnings In Six Months

Unity Bank Plc has announced a gross earnings of N27.6 billion for the first half of 2022 ended June 30. According to the result, the figure represented a growth of 17.09 per cent compared with N23.6 billion posted in the...

July 30, 2022 No Responses

Buhari Approves Lekki Deep Seaport For Commercial Operations

President Muhammadu Buhari has approved the designation of Lekki Deep Seaport as a Customs Port and Approved Wharf. This is contained in the official Twitter handle of the Nigerian Ports Authority (NPA) on Friday. It stated that the Managing Direct...

July 28, 2022 No Responses

Firstmonie Agents Hit One Billion Transaction Volume

Firstmonie has collectively processed transaction volume in excess of one billion, amounting to over N22 trillion, First Bank of Nigeria Ltd, has disclosed Group Head, Marketing and Corporate Communications, Mrs Folake Ani-Mumuney in a statement ex...

July 28, 2022 No Responses

NEPZA, FIRS Agree To Adjust FTZs New Tax Administration Pact

The Nigeria Export Processing Zones Authority (NEPZA) and the Federal Inland Revenue Service (FIRS) have agreed to adjust some sections of the recently signed Memorandum of Understanding (MoU) on effective tax administration, to accommodate some salient concer...

July 27, 2022 No Responses

Economist Implores Investors On Taking Position

A Professor of Capital Market, Prof. Uche Uwaleke, has advised investors interested in the equities market to buy stocks in September and sell in January 2023 to reduce the impact of electioneering activities on investment. Professor Uwaleke gave the ad...

July 26, 2022 No Responses

Buhari Nominates Four Non-Executive Directors Of CBN

President Muhammadu Buhari has nominated four persons for appointment as Non-Executive Directors of the Board of the Central Bank of Nigeria (CBN).This is contained in a letter dated July 21 and read at Tuesday’s plenary by Senate President, Ahmad Lawan.Buha...

July 22, 2022 No Responses

CBN Partners UNILORIN On N600m Commercial Poultry Farm

The University of Ilorin (UNILORIN) in partnership with the Central Bank of Nigeria (CBN) has inaugurated an integrated commercial poultry farm with a N600 million loan. Prof. Sulyman Abdulkareem, the Vice Chancellor of the university, who spoke at the o...

July 20, 2022 No Responses

CBN Increases Benchmark Interest Rate To 14%

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday increased the Monetary Policy Rate (MPR) to 14 per cent from its initial 13 per cent. Reading a communiqué after the committee’s meeting in Lagos, Mr...

July 19, 2022 No Responses

DMO Raises N123b In July FG Bond Auction

The Debt Management Office (DMO) has raised N123.85billion in its July Federal Government of Nigeria (FGN) bond auction. A statement issued by DMO on Monday explained that the three instruments auctioned were valued at N75 billion each, totalling N225 bi...

July 18, 2022 No Responses

Group Tasks FG On Incentives For Manufacturers

The National Union of Chemical, Footwear, Rubber, Leather and Non-Metallic Employees (NUCFRLANMPE) has tasked the Federal Government with incentives to cushion the effects of the harsh economy on manufacturers. Mr Babatunde Olatunji, the President of NUCFRLA...

July 16, 2022 No Responses

Nigeria, EU Present Report On Maize Value Chain

The Nigerian Government and the European Union (EU) Delegation to Nigeria and ECOWAS, on Friday, presented a report on the value chain analysis study on maize. A statement issued on Friday explained that the collaboration was done between Nigeria’s Ministr...

July 13, 2022 No Responses

Nigeria’s Crude Oil Production Averaged 1.238m bpd In June

Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in June 2022, the Organisation of the Petroleum Exporting Countries (OPEC) has said OPEC made this known in its Oil Market Report for July 2022...

July 11, 2022 No Responses

Traditional Ruler Cautions Against Use Of Chemicals For Fishing

A traditional ruler in Nasarawa State, Alhaji Usman Abdullahi, has advised the residents of his area and other Nigerians against the use of chemicals for fishing. Abdullahi, the ‘Ehimega Opand, said it was to avoid water pollution and in the interest...