Economy Archives — Page 240 of 247

August 1, 2016 No Responses

Skye Bank gets N100b lifeline

The Central Bank of Nigeria (CBN) has approved over N100 Billion to shore up Skye Bank Plc operations and liquidity. Managing Director of the Bank, Mr Tokunmbo Abiru who comfirmed the development explained that the CBN guarantee will not...

July 29, 2016 No Responses

Diamond Bank posts 25.5 % drop in profit

By Moses Ebosele – For the first six months of 2016, Diamond Bank Plc recorded Profit After Tax (PAT) of N9.05 Billion, a decline of 25.5 per cent when compared to N12.3 Billion attained within same period in 2015....

July 29, 2016 No Responses

Dangote Cement records 15 per cent drop in profit

By Moses Ebosele – Come August 3, 2016, the management of Dangote Cement Plc will brief the Nigeria Stock Exchange (NSE) and other stakeholders on the financial state of the company especially the 15 per cent drop in its profit...

July 29, 2016 No Responses

FBN Holdings announces new board appointments

By Moses Ebosele – FBN Holdings Plc has announced new Board appointments in the FBN Holdings Group, effective July 19 2016. According to the financial institution, the appointments have been approved by the Board of Directors, “but remain...

July 29, 2016 No Responses

NSE launches recruitment portal

By Moses Ebosele – The Nigerian Stock Exchange (NSE) has launched an online portal to attract top talent and optimize its recruitment process. NSE explained that the recruitment portal which is expected to enhance the Exchange’s recruitment capabil...

July 28, 2016 No Responses

Workers task FG on N5.3 trillion pension funds

By Moses Ebosele – Rising from its National Delegate Conference (NDC) in Abeokuta, Ogun State, Association of Senior Civil Servants of Nigeria (ASCSN) has appealed to the Federal Government to offer ‘adequate protection’ to the N5.3 Trillion work...

July 28, 2016 No Responses

UK Envoy canvasses support for Nigerian capital market

By Moses Ebosele Despite various economic challenges in Africa, the Nigerian capital market has great opportunities, United Kingdom Trade & Investment (UKTI) Envoy, John Howell has said. According to Howell, Nigeria’s capital market is viabrant, not...

July 27, 2016 No Responses

NAHCO shareholders get N324.8m dividend

By Moses Ebosele – Shareholders of Nigerian Aviation Handling Company (NAHCO) Plc on Tuesday, in Abuja, approved quest by the board of the company to pay dividend of 20 kobo per share, amounting to N324.8million for the year ended Decenber...

July 27, 2016 No Responses

CBN raises interest rate to 14 per cent

The Central Bank of Nigeria (CBN) has raised monetary policy rate (MPR) from 12 per cent to 14 per cent as part of measures to curtail inflation. CBN Governor, Godwin Emefiele explained at the end of the Monetary Policy Committee...

July 27, 2016 No Responses

FBN declares 10.5 % drop in profit

By Moses Ebosele – For the six months ended June 30, 2016, FBN Holdings Plc attained Profit After Tax of N35.9 Billion, down by 10.5 per cent when compared with N40.1 Billion recorded within same period in 2015. According to...

July 26, 2016 No Responses

Global market capitalisation drops to $67.2 trillion in six months

By Moses Ebosele – A report put together by the World Federation of Exchanges (WFE) has revealed that between January and June this year, global market capitalisation declined by 9.4 per cent to reach $67.2 trillion, compared with $74.2...

July 26, 2016 No Responses

FG explains $42.5 per barrel benchmark for 2017

The Federal Government has proposed $42.5 per barrel benchmark for the year 2017. Presenting the 2017-2019 Meduim Term Expenditure Framework (MTEF) to civil society group in Abuja on Monday, Minister of Budget and National Planning, Udoma Udoma, explai...

July 25, 2016 No Responses

Lagos targets N30b monthly revenue

(NAN) The Lagos State Government on Sunday said it will reduce dependence on federal allocation by increasing its Internally Generated Revenue (IGR) to a monthly target of N30 billion in 2017. It also said that it would increase the IGR...

July 24, 2016 No Responses

CBN direct banks to sell forex to BDCs

By Moses Ebosele – AS part of measures to ensure stability of the Exchange rate, the Central Bank of Nigeria (CBN) has directed agent banks approved for international money transfer operators to sell foreign currency accruing from inward money remittan...