Economy – Page 221 – City Business News

June 7, 2022 No Responses

TAJBank Explains N100b Maiden Sukuk Offering For Private Sector

TAJBank Limited, Nigeria’s leading non-interest bank, is set to launch Nigeria’s first private sector Sukuk offering valued at N100 billion. According to a statement by the bank’s Managing Director, Mr Hamid Joda, the Sukuk offering is currently undergoing regulatory approvals. ...

June 7, 2022 No Responses

Presco Tasks Oil Palm Stakeholders On Research, Smallholder Farmers

By Moses Ebosele, ebosele@hotmail.com — The Managing Director, Presco Plc, Felix Nwabuko, on Monday, appealed to Oil Palm Stakehoders and Government Agencies to support sustained research as part of measures to boost expansion and e...

June 6, 2022 No Responses

SEC Proposes Unique Identifiers For Capital Market Participants

To curtail fraud in the capital market and reduce the quantum of unclaimed dividends, the Securities and Exchange Commission (SEC) has concluded plans to give capital market participants unique identifiers. According to SEC, this formed part of ongoing...

June 4, 2022 No Responses

Access Bank Reiterates Support For Entrepreneurs, Small Businesses

Access Bank Plc has pledged to fund entrepreneurs, and create market access for small businesses across the country. A statement by the Deputy Managing Director of the bank, Mr Victor Etuokwu, on Friday, said the bank remained resolute in its...

June 3, 2022 No Responses

CBN Reviews Operations Of NIBBS Instant Payments System, Others

The Central Bank of Nigeria (CBN) has reviewed upwards, the operations of the Nigeria Inter-Bank Settlement System (NIBSS) and other electronic payment operations. This is contained in a circular issued by Musa Jimoh, Director, Payments S...

June 1, 2022 No Responses

Nigeria’s Crude Oil Production Increases By 70,000bpd

Nigeria’s crude oil production increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos, showed that the country’s crude oil...

May 31, 2022 No Responses

Nigeria Targets $176b Via e-Customs Project

The Nigeria Customs Service (NCS) is to generate $176 billion over the next 20 years through the implementation of e-customs project. The NCS Comptroller-General, retired Col. Hameed Ali, disclosed this on Monday in Abuja during the signing of e-Customs ...

May 28, 2022 No Responses

World Bank Implores Africa On Green, Sustainable Bonds

The World Bank has said that Green, Social and Sustainable (GSS) bonds could contribute to Africa’s sustainable economy. Mr Jorge Calderon, the Vice President and Treasurer, World Bank Treasury said this at a virtual workshop on GSS Bond Market Develop...

May 28, 2022 No Responses

Unity Bank To Empower More Underbanked Women Entrepreneurs With Yanga Product

Divisional Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr. Olufunwa Akinmade has explained that launching the Bank’s latest retail product called Yanga is to create a unique product proposition aimed at empowering the underbanked women entrepre...

May 27, 2022 No Responses

Customs Issues 14-Day Ultimatum To Companies To Pay Excise Duty

The Nigeria Customs Service (NCS) Lagos Industrial Command on Thursday gave companies not yet registered for payment of excise duty under its command 14-days to comply or face sanctions. Speaking at the Lagos Industrial Command stakeholders’ meeting in Lagos...

May 25, 2022 No Responses

CBN Disburses N1tri To Farmers

The Central Bank of Nigeria (CBN) has increased its funding and interventions in various sectors to boost economic growth. Governor of the CBN, Mr Godwin Emefiele, said this on Tuesday in Abuja while presenting a communique issued at the end of...

May 25, 2022 No Responses

NGX Loses N519billion

The negative sentiment continued on the Nigerian Exchange Ltd., (NGX) on Tuesday with the market capitalisation declining further by N519 billion to close at N28.006 trillion against N28.525 trillion on Monday. In the same vein, the All-Share Index lost ...

May 24, 2022 No Responses

Six Ships Waiting To Berth, 16 Others To Arrive Lagos Ports Before June 5

The Nigerian Ports Authority (NPA) on Monday said six ships that have arrived at Laos ports are waiting to berth with petrol, bulk sugar and soya bean meal. NPA, in its Daily Shipping Position, said that another 25 ships at...

May 23, 2022 No Responses

NDDC Revokes 20-Year-Old Unexecuted Contracts

The Niger Delta Development Commission (NDDC) has revoked contracts awarded between 2000 and 2019 where the contractors did not move to site. “Consequently, all affected contractors are advised to note that all monies earlier received by way of mobilis...