Economy Archives — Page 252 of 256

July 12, 2016 No Responses

Nigeria’s economy may shrink this year, says IMF

The International Monetary Fund (IMF) has predicted that Nigeria’s economy will most likely contract this year as energy shortages and the delayed budget weigh on output. The IMF Country Representative in Nigeria, Gene Leon, said:“I think there is a...

July 12, 2016 No Responses

NSE unveils sustainability report, adopts GRI reporting guidelines

By Moses Ebosele The Nigerian Stock Exchange (NSE) has released its 2015 Sustainability Report titled “Ushering in a new era of sustainability in the Nigerian market place”. The report, which is in its second edition, according to NSE demonstrates.....

July 12, 2016 No Responses

Shell, Keppel Offshore form LNG Bunkering JV

KS Investments Pte Ltd, a wholly-owned subsidiary of Keppel Offshore & Marine Ltd, has entered into a shareholders agreement with Shell Eastern Petroleum, a part of Royal Dutch Shell, to form a joint venture company which will establish an LNG...

July 11, 2016 No Responses

NSE’s 123 equities remain unchanged as two trading sessions record 377.798 million shares

By Moses Ebosele One hundrend and twenty three equities remain unchanged last week as the Nigeria Stock Exchange (NSE) opened for two trading sessions. The stock market opened for two trading sessions as the Federal Government declaredTuesday 5th, Wednesda...

July 11, 2016 No Responses

Nigeria seeks partnership with IMO

By Moses Ebosele TO sustain development in the maritime sector, the Minister of Transportation, Chibuike Rotimi Amaechi has expressed Nigeria’s commitment to further partner the International Maritime Organisation (IMO). Speaking in London recently when he ...

July 11, 2016 No Responses

Customs Zone ‘C’ command impounds 90 vehicles, 2,758 bags of rice, others

By Moses Ebosele Between January and June, this year, the Federal Operations Unit (FOU) of Nigeria Customs Service (NCS), Zone ‘C’, Owerri, impounded 169 contrabands worth N1.3billion. Among the items include 90 vehicles; 2,758 bags of rice; 4,160 pie...

July 9, 2016 No Responses

Again, First Bank is Winner of Best Retail Bank in Nigeria

FOR the fifth time, First Bank of Nigeria Limited, has won “The Best Retail Bank in Nigeria Award”. At the 2016 Asian Banker Retail Services West African Awards held recently in Lagos, the foremst financial institution also won the “Mobile...

July 9, 2016 No Responses

LCCI proposes dialogue session on economic integration in West Africa

The Lagos Chamber of Commerce and Industry (LCCI) has concluded plans to hold a dialogue session on challenges of economic integration in West Africa. According to LCCI, the proposed event is aimed at examining the current status of the sub-region’s...

July 7, 2016 No Responses

No bank is in distress, says CBN

The Central Bank of Nigeria (CBN) has dismissed allegations in some quarters that certain banks in the country are in distress. In a statement, the apex bank described the allegation as unfounded, “malicious rumors and unfounded speculations,” addin...

July 7, 2016 No Responses

Skye Bank new MD pledges to harness employees’ expertise

The new Group Managing Director/Chief Executive Officer of Skye Bank Plc, Mr. Tokunbo Abiru, has pledged the commitment of the new management to harness expertise of employees and the reconstituted board as part of measures to take Skye Bank to...

July 6, 2016 No Responses

Offshore West Africa gets new date

PennWell Corporation, owners and producers of the annual Offshore West Africa Conference & Exhibition have announced a change in date for its 21st edition. According to a statement, the new 2017 date has been set for 6‐8 Jun...

July 6, 2016 No Responses

Shareholders divided over compulsory resignation of Skye Bank Board, Management

Controversy has continued to trail the compulsory retirement of the Board and Management of Skye Bank Plc by the Central Bank of Nigeria (CBN). A cross section of the Bank shreholders who spoke with City BusinessNews expressed divergent views on...

July 5, 2016 No Responses

Oando’s Q1 turnover drops by 34 %

For the 2016 first quarter, Oando Plc recorded N64.413billion, indicating a drop of 34 per cent when compared with N97.070 recorded within same period in the previous year. Presenting the company’s “Facts behind the figures” at the Nigerian Stock...

July 5, 2016 No Responses

CBN removes Skye Bank Board, Management

THE Central Bank of Nigeria (CBN) has replaced the Board and management of Skye Bank Plc. Addressing Journalists in Lagos, CBN Governor, Mr Godwin Emefiele said the Bank failed failed to meet the regulator’s minimum key liquidity and capital adequacy...