Economy Archives — Page 246 of 259

October 27, 2016 No Responses

World Federation of Exchanges to host 300 delegates at 2016 annual meeting

The World Federation of Exchanges (WFE) has concluded plans to host 300 delegates at its 56th General Assembly & Annual Meeting scheduled for November 2-4, 2016, in Cartagena, Colombia. The event, hosted by Bolsa de Valores de Colombia (BVC), will...

October 26, 2016 No Responses

Minister laments ‘high-level’ corruption in Customs

Efforts by the Federal Government to realize money from revenue generating agencies such as Nigeria Customs Service (NCS) is being hampered by alleged high-level corruption, the Minister of Finance, Kemi Adeosun has said. Addressing members of the Senate Com...

October 26, 2016 No Responses

FG Seeks NASS approval to borrow $29.9b

The Federal Government has forwarded a letter to the National Assembly seeking approval to borrow externally $29.9 billion as part of measures to ensure the prompt implementation of projects. In a letter addressed to the Speaker of the House of...

October 26, 2016 No Responses

Don’t contemplate another fuel price hike, TUC tells FG

The Trade Union Congress (TUC) of Nigeria has advised the Federal Government not to contemplate any increase in the price of petroleum products. The union in a statement on Tuesday described the statement credited to the Group General Manager,...

October 25, 2016 No Responses

FCMB explains late filling of Q3 accounts

The First City Monument Bank (FCMB) Group Plc is to release its nine months ended 30 September 2016 (3Q16) accounts before the end of November, this year. In a notice to the Nigerian Stock Exchange (NSE), the Bank said:...

October 25, 2016 No Responses

NSE gets most innovative Stock Exchange in Africa

The Nigerian Stock Exchange (NSE) has emerged the Most Innovative Stock Exchange in Africa 2016. This award was presented to NSE by The Business Year Magazine. The Business Year Magazine Awards according to a statement issued by NSE...

October 24, 2016 No Responses

Wema Bank declares N37.89b gross earnings in Q3

For the third quarter ended September 30, 2016, Wema Bank Plc has declared N37.8Billion gross earnings, indicating 16.36 per cent growth over N32.57Billion recorded same period in 2015. According to the Bank, the nine-month figure was driven by a...

October 22, 2016 No Responses

Collaboration with London Stock Exchange deliberate, strategic, says Onyema as Adeosun opens trading

The Chief Executive Officer of Nigerian Stock Exchange (NSE), Oscar Onyema has described collaboration with London Stock Exchange (LSE) as deliberate and strategic. Speaking at the third anniversary of London & Lagos Capital Markets partnership confer...

October 21, 2016 No Responses

Dangote canvasses tax relief for SMEs

Foremost Businessman and President/ Chief Executive of Dangote Group, Aliko Dangote, on Thursday urged government at all levels to reduce the multiple taxes placed on small and medium businesses (SMEs). Dangote said in a statement in Lagos explained that...

October 20, 2016 No Responses

IMF declares Nigeria Africa’s biggest economy

Despite ongoing economic challenges, the International Monetary Fund (IMF) has affirmed Nigeria as the biggest economy in Africa ahead of South Africa and Egypt. However, the IMF’s World Economic Outlook for October 2016, puts South Africa’s GDP at 28...

October 19, 2016 No Responses

Critical role of capital market data delivery in economic development, by NSE boss

Capital Market data delivery play critical role in economic development, the Chief Executive of Nigerian Stock Exchange (NSE), Mr Oscar Onyema has said. In his key note address at NSE market data workshop on Tuesday in Lagos, Onyema said...

October 17, 2016 No Responses

Group tasks FG on proposed N25b car loans

Reported plan by the Federal Government to float a car purchase loan scheme to help Nigerians acquire new made-in-Nigeria cars has been described as a ‘refreshing one’. Though details of the operations remain skectchy as at press time, a...

October 16, 2016 No Responses

FG proposes 10 earth dams for each state

To increase food production across the country, the Federal Government has concluded plans to install at least 10 earth dams in each state of the federation. Under the arrangement, dikes is also to be put in place in the...

October 14, 2016 No Responses

WFE explains growing liquidity in emerging market exchanges

The World Federation of Exchanges (“WFE”), on Thursday published a report into growing liquidity in emerging market exchanges, in collaboration with global management consulting firm Oliver Wyman. The report, entitled Enhancing Liquidity in Emerging Mark...