Economy Archives — Page 226 of 235

September 1, 2016 No Responses

Airtel, Nestle CEOs list modalities for improved GDP

The critical role of private sector in the development of Nigeria’s economy took the centre stage on Wednesday at the second edition of Nigerian Stock Exchange (NSE) Chief Executive Officers (CEOs) roundtable discussions in Lagos. Some Chief Executive Officers...

September 1, 2016 No Responses

Nigeria’s GDP Contracts 2.06% as NBS confirms recession

The National Bureau of Statistics (NBS) confirmed on Wednesday that Nigeria has entered the recession bracket. The situation is further compounded as the country continues to records job losses occasioned by sustained drop in the price of crude oil...

August 31, 2016 No Responses

CBN approves 11 international money transfer operators

The Central bank of Nigeria (CBN) has licensed 11 new international money transfer operators (IMTOs) to do business in the country’s foreign exchange market. A statement issued by CBN spokesperson Isaac Okorafor, explained that the licensing was in further...

August 30, 2016 No Responses

NSE tasks dealing clerks on professionalism, integrity

The Nigerian Stock Exchange (NSE) has challenged recently qualified dealing clerks to maintain internal values of Professionalism, Integrity, Transparency and Reliability. Speaking at the induction ceremony on Monday, the Chief Executive Officer of NSE, Mr ...

August 29, 2016 No Responses

Moody’s, Augusto rate Heritage Bank high on strong capitalisation, asset quality

Two foremost rating agencies, Moody’s and Augusto & Co. recently affirmed that Heritage Bank’s capitalization remains sound in relation to its low asset risk model and has capacity to generate income from its core business and settle its obligation...

August 26, 2016 No Responses

Skye Bank, Fidelity, FBN, others sustain sliding profile

For the second day, investors on the floor of the Nigerian Stock Exchange (NSE) have continued to dump the shares of Banks suspended from participating in Foreign Exchange (Forex) transactions by the Central Bank of Nigeria (CBN). The restriction...

August 26, 2016 No Responses

UBA proposes 20 kobo interim dividend for half year

United Bank for Africa Plc (UBA) has announced its audited 2016 Half Year Financial Results for the period ended 30 June 2016, showing the bank recorded gross earnings of N166 billion, net operating income of N109 billion and profit before...

August 26, 2016 No Responses

‘Heritage Bank did not conceal NPA’s N11.2Billion’

An investor of Heritage Bank has absolved the Bank of any involvement in the alleged concealment of N11.2 Billion belonging to the Nigerian Ports Authority (NPA). The source who preferred to remain anonymous on Thursday described the allegation as false,...

August 26, 2016 No Responses

Elumelu at NIPSS, tasks policy makers on poverty reduction

Tony O. Elumelu, Chairman of Heirs Holdings and United Bank for Africa (UBA) Plc has identified entrepreneurship as a veritable solution to achieving poverty reduction in the country. Delivering a paper at the National Institute of Policy and Strategic Studi...

August 25, 2016 No Responses

FG approves 2017-2019 Fiscal Strategy Framework

The Federal Executive Council (FEC) on Wednesday approved a three-year Fiscal Strategy Framework from 2017 to 2019. Identified as the Medium Term Expenditure Framework (MTEF), the process starts the process for the preparation of the 2017 budget. The Ministe...

August 24, 2016 No Responses

All set for NSE, Bloomberg 2nd CEO Roundtable

The Nigerian Stock Exchange (NSE) in collaboration with Bloomberg is set to host the 2nd NSE Bloomberg Chief Executive Officer (CEO) Roundtable Event on Wednesday, 31st August 2016 at the Stock Exchange House, Marina, Lagos. According to a statement, the...

August 23, 2016 No Responses

Manufacturers to get 60% forex

Still in search of a healing balm for the economy, the Central Bank of Nigeria (CBN) has directed Authorised Dealers (banks) to allocate 60 per cent of their Foreign Exchange, (forex) purchases from all sources (interbank inclusive) to manufacturers an...

August 22, 2016 No Responses

Wema Bank to raise N50b

To expand on its expansion drive and ensure profitability, the Board and Management of Wema Bank has concluded plans to raise N50 Billion tier two capital through bonds. According to the Bank, plans are underway to raise N20 billion...

August 22, 2016 No Responses

New survey confirms uncertainty in labour market

Business leaders have been urged to invest in skills now to future-proof their businesses “as evidence from employers shows some migrant workers may already be considering leaving the United Kingdom (UK) The UK’s decision to leave the European Union ha...