Economy – Page 236 – City Business News

July 16, 2020 No Responses

Nigeria To Boost External Reserve With Gold Sales

The Minister of Mines and Steel Development, Olamilekan Adegbite, on Thursday said Nigeria has commenced gold purchase programme through the Central Bank of Nigeria (CBN). The minister stated this while addressing State House correspondents after the official virtual presentation of...

July 16, 2020 No Responses

NDDC Boss:N40b Not Missing, Not Misappropriated

The Acting Managing Director of the Niger Delta Development Commission (NDDC), Prof. Kemebradikumo Pondei, on Thursday insisted that N40 billion was not missing from the commission’s account neither has it been misappropriated. Pondei, while addressing jo...

July 16, 2020 No Responses

Jaiz Bank Sets Aside N884m For Maiden Dividend

Shareholders of Jaiz Bank Plc are to receive a total of N884million dividend payment subjected to appropriate withholding tax. The Chairman of the Bank Alhaji Umaru Mutallab disclosed this at the 8th Annual General Meeting (AGM) of the bank held...

July 15, 2020 No Responses

Okonjo-Iweala To WTO: Elect DG On Basis Of Merit

Dr Ngozi Okonjo-Iweala on Wednesday in Geneva stressed the need for the World Trade Organisation (WTO) to elect a credible candidate, based on merit, for the position of Director General. Okonjo-Iweala, who is among the eight candidates vying for the...

July 15, 2020 No Responses

Market Capitalisation Recovers N8b

The Nigerian Stock Exchange (NSE) on Wednesday recorded the first gain of the week, appreciating marginally by 0.06 per cent due to bargain hunting in Airtel Africa. Accordingly, the All-Share Index rose by 15.67 points or 0.06 per cent to...

July 15, 2020 No Responses

NIMASA Directs Registered Stevedoring Firms To Commence Operation

The Management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has directed all duly registered stevedoring companies with operational areas allotted by the Nigerian Ports Authority (NPA), which are yet to start operation, to mobilise to the...

July 13, 2020 No Responses

Daukoru Emerges NLNG Board Chairman

President Muhammadu Buhari has approved the reconstitution of the representatives of Nigeria on the Board of Nigerian Liquefied Natural Gas Limited (NLNG) under the chairmanship of Former Minister of State for Petroleum, Edmund Daukoru. A memo signed&...

July 13, 2020 No Responses

Nigeria’s Stock Market Opens Week With N55b Loss

The nation’s bourse resumed transactions for the week on Monday with a loss of N55 billion following sell pressure in some blue chips. Specifically, the market capitalisation which opened at N12.679 trillion lost N55 billion to close at N12.624 trillion....

July 13, 2020 No Responses

Nigeria’s Unclaimed Dividends Hit N158.44b

The total unclaimed dividend figure in the Nigerian capital market stood at N158.44 billion as of December 2019, the News Agency of Nigeria (NAN) reports. Data obtained exclusively by NAN from the Securities and Exchange Commission (SEC) show that the...

July 10, 2020 No Responses

Nigeria Clarifies Tax On House Rents, C of O, Others

The Director-General of the Budget Office of the Federation, Mr Ben Akabueze, on Friday said tax on rents, Certificate of Occupancy (C of O) and others is not a new law to the system. Akabueze made the clarification while fielding...

July 10, 2020 No Responses

MTN Nigeria, Vitafoam, Others Lift Market Capitalisation By N15b

July 10, 2020 No Responses

Buhari Directs Release Of 50% Of Capital Expenditure, Signs N10.8tr Revised 2020 Budget

President Muhammadu Buhari has signed into law the revised N10.8 trillion 2020 budget, and directed the release of at least 50 per cent of the approved 2020 revised capital expenditure to Ministries, Departments and Agencies (MDAs). The News Agency of...

July 10, 2020 No Responses

Olugbade: Barge, Off Docks Will Aid Port Decongestion

Captain Ibraheem Olugbade, Executive Director, SIFAX Off Dock, has urged all the stakeholders in the maritime sector to adopt the option of barge transportation for the movement of consignments from the Lagos ports. Olugbade said the challenges of congestion a...

July 9, 2020 No Responses

Ogun Partners CBN On Oil Palm Production

The Ogun Government is collaborating with the Central Bank of Nigeria (CBN) to boost oil palm production in the state. The State Commissioner for Agriculture, Dr Adeola Odedina, made this known during an inspection tour of Apoje Farm Settlement, where...