Economy – Page 251 – City Business News

May 2, 2020 No Responses

Nigeria Orders Release Of 17,500mt Of Grains From Food Reserve

The Federal Government has directed the release of about 17,500 metric tonnes of assorted grains from Yola National Food Reserve site for distribution as palliatives to Nigerians.Mr Haruna Sulaiman, Director, National Food and Strategic Reserve said this while speaking with...

May 2, 2020 No Responses

Apapa Freight Shuttles Top Priority As NRC Resumes Monday

The Mass Transit Train Services (MTTS) in Lagos State will not resume yet in spite of the gradual easing of COVID-19 lockdown in the state, the Nigerian Railway Corporation (NRC) disclosed on Saturday. The Lagos Railway District Manager, Mr Jerry...

May 2, 2020 No Responses

COVID- 19: Withdraw Old Naira Notes, Group Tells CBN

The Association of Progressive Nigerians has appealed to the Central Bank of Nigeria (CBN) to withdraw old and tattered naira notes from circulation as the country is battling COVID- 19 pandemic. The group made the appeal in a statement it...

May 1, 2020 No Responses

Global e-Commerce Hits $25.6trillion

E-commerce sales hit $25.6 trillion globally in 2018, up 8% from 2017, according to the latest available estimates released on Friday by the UN’s trade and development body, UNCTAD, at the start of its UNCTAD eWeek event. The online event will...

April 30, 2020 No Responses

3,256 Benefits From CBN N50b COVID-19 Credit Facility

No fewer than 3,256 individuals and small businesses have so far benefited from the Central Bank of Nigeria’s (CBN) N50 billion Targeted Credit Facility (TCF) to cushion effects of COVID-19. The Managing Director of Nigeria Incentive-Based Risk Sharing Syste...

April 30, 2020 No Responses

NSE Reiterates Commitment To Business Opportunities, Market Sustainability

The Nigerian Stock Exchange (NSE) has pledged to sustain market activities, leverage all available opportunities and maintain open lines of communication to all stakeholders. Chief Executive Officer of NSE, Oscar N. Onyema in an interview published...

April 30, 2020 No Responses

Zenith Bank Declares N166.8b Gross Earnings In Q1

Zenith Bank Plc has announced its unaudited results for the first quarter ended March 31 2020, with gross earnings rising by 6% from N158.1 billion in March 2019 to N166.8 billion. From the unaudited statement of account which was presented...

April 30, 2020 No Responses

Collection Of Processed Passports, Fresh Enrollments Resume May 4

The Comptroller General, Nigeria Immigration Service (NIS), Mr Muhammad Babandede, has scheduled collection of processed passports and fresh enrollments for applicants invited through SMS. The Service Public Relations Officer (SPEO), Mr Sunday James, said this...

April 30, 2020 No Responses

Terminal Development Suspended As COVID-19 Persist

The Port of Seattle has delayed the development of the proposed Terminal 46 cruise terminal as it needs to investigate the impact of the coronavirus pandemic on the market before proceeding. The cruise industry has been severely impacted by the...

April 30, 2020 No Responses

Ecobank Records Increase In Customers Adoption Of Digital Channels,Posts $90m PBT In Q1

For the first quarter ended March 31, 2020, Ecobank recorded significant increases in customer adoption rates on its digital/online channels. According to the Bank, adoption rates are expected to accelerate as COVID-19 induced lockdowns change...

April 29, 2020 No Responses

ILO: Nearly Half Of Global Workforce At Risk Of Losing Livelihoods

The continued sharp decline in working hours globally due to the COVID-19 outbreak means that 1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed, t...

April 29, 2020 No Responses

Nigeria Disburses N43.416b To 24 States

The Federal Government has disbursed N43.416 billion as performance-based grants to 24 eligible states on the basis of the results achieved in 2018. Mr. Hassan Dodo, the Director of Press and Public Relations in the Ministry of Finance, Budget and...

April 29, 2020 No Responses

CBN Resumes Dollar Sales For SMEs, School Fees

The Central Bank of Nigeria (CBN) has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay school fees and Small and Medium Enterprises (SMEs). The CBN Director, Corporate Communications, Mr Isaac Okora...

April 29, 2020 No Responses

Union Bank Declares N42.6b Gross Earnings In Q1

Union Bank of Nigeria Plc on Wednesday announced gross earnings of N42.6 billion in its unaudited financial statements for the first quarter ended March 31, 2020. The gross earnings represented an increase of 18 per cent when compared with N36.1...