Economy Archives — Page 221 of 222

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 deliberately frustrate...

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...

September 4, 2015 No Responses

Dangote Cement to Generate Jobs in Cameroon

The Managing Director of Dangote Group, Onne Vander Weijde, has declared the preparedness of the company to create about 150 to 300 jobs in Cameroon. In an interview with CNBC, he said: “Thousands of jobs are being created [indirectly] through...

September 4, 2015 No Responses

FG reveals Buhari, Osinbajo assets

The Federal Government has disclosed details of the assets of President Muhammadu Buhari and Vice President Yemi Osinbajo, as declared to the Code of Conduct Bureau. A statement issued by Senior Special Assistant to the President (Media and Publicity), Garba...

August 31, 2015 No Responses

Dangote cement targets 100 tonnes by 2020

THE President of Dangote Group, Aliko Dangote has announced plans to increase his cement plants’ capacity to 100 million tonnes by 2020. Dangote explained that Africa needs to deliberately improve its per capita consumption of cement in order to aid...

August 31, 2015 No Responses

FG puts food imports under scrutiny

IMPORT policy of staple food such as rice, wheat and fish is to be reviewed by the Federal Government as part of measure to ensure self-sufficiency in food production. The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Mr....

August 29, 2015 No Responses

‘$18.5 b Centenary City Project to create 250,000 jobs’

CITING skill acquisition, job creation and economic development, President Muhammadu Buhari has backed the $18.5 billion Centenary City Project. Recently, Buhari summoned the Governing Board of the Project, chaired by the former Head of State, Gen. Abdulsalami...