Economy – Page 257 – City Business News

January 31, 2020 No Responses

Market Capitalisation Declines By N96b In January

The All-Share Index of the Nigerian Stock Exchange (NSE) on Friday closed trading for the month of January below 29,000 mark following the dominance of the bears.Specifically, the index on Friday dipped 187.40 points or 0.65 per cent to close...

January 30, 2020 No Responses

SON Pledges To Enforce Mandatory Certification Of Products In 2020

The Standards Organisations of Nigeria (SON) has reiterated its commitment to flush out uncertified products from Kwara Markets in 2020.The state Coordinator of SON, Mrs Esther Okon, made the declaration on Thursday in Ilorin while speaking with the News...

January 28, 2020 No Responses

Union Bank To Divest From UK Subsidiary

Union Bank of Nigeria Plc has entered a share sale and purchase agreement to divest its 100% equity stake in Union Bank UK Plc. (UBUK).The Bank explained on Tuesday that the development is aligned with Union Bank’s strategy to geographically...

January 28, 2020 No Responses

FG Advises States On Realistic Industrial Plan

To revive the sector for economic development and job creation, the Minister of State, Trade, Industries and Investment, Maryam Katagum has advised States to develop a realistic industrial plan. Katagum stated this while answering questions from Journalists in...

January 26, 2020 No Responses

SEC Nigeria Goes Tough on Illegal Fund Managers

The Securities and Exchange Commission (SEC) has restated it’s determination to go after illegal fund managers and ensure they are made to face the full wrath of the law.Acting Director-General of the SEC, Mary Uduk, who stated this in an...

January 25, 2020 No Responses

Fidelity Bank Harps On Youth Empowerment, Rewards Customers

To curb crime and unemployment in the country, the Managing Director, Fidelity Bank Plc, Mr Nnamdi Okonkwo has emphasized need for youth empowerment.Speaking in Lagos on Saturday during Fidelity Bank appreciation party themed; ‘Give them Wings’, Okonkwo sa...

January 18, 2020 No Responses

DMO Explains Nigeria’s N26trillion Debt

The Director-General, Debt Management Office (DMO), Patience Oniha on Friday disclosed that Nigeria’s total public debt rose above N26.22 trillion as at September 2019. In a chat with Journalists in Abuja, Oniha also denied denied recent reports that t...

January 17, 2020 No Responses

“Nigeria Not Ready For Implementation Of Eco Single Currency”

Nigeria is not yet ready for the implementation of the ECOWAS Single Currency (Eco) in 2020,Minister of Foreign Affairs, Geoffrey Onyeama has saidOnyeama, who made this known on Thursday in Abuja while speaking with Journalists, explained that Nigeria’s posi...

January 17, 2020 No Responses

FG, States, LGs Share N716.2b

The Federation Accounts Allocation Committee (FAAC) has shared N716.298 billion to the three tiers of government for the month of December 2019.The Permanent Secretary, Ministry of Finance, Budget and National Planning, Alhaji Isa Dutse disclosed this while ad...

January 17, 2020 No Responses

Dangote: Maritime Key To Economic Development, Growth

The President of Dangote Group of Companies, Alhaji Aliko Dangote, has identified the maritime industry as key in the efforts to restimulate the Nigerian economy.Dangote made the assertion in a statement in Lagos while commenting on the country’s economic po...

January 17, 2020 No Responses

Market Capitalisation Recovers N150b

After two days of loss, trading activities rebounded on the Nigerian Stock Exchange (NSE) on Thursday following investors’ interest in some highly capitalised equities.Specifically, the market capitalisation of listed equities grew by N150 billion or one per...

January 15, 2020 No Responses

ICPC To Track Fraudulent Activities In Capital Market

“I understand the need to protect investors because the capital market has been so badly affected by the activities of fraudulent individuals and organizations, Chairman, Independent Corrupt Practices and other Related Offences Commission (ICPC), Prof Bolaji...

January 10, 2020 No Responses

Onne Customs Surpasses 2019 Revenue Target by 112%

The Nigeria Customs Service (NCS), Area II Command, Onne Port, Rivers State generated ₦107.3billion from duty paid on imported goods in 2019.A statement issued by the Public Relations Officer, Ifeoma Onuigbo Ojekwu, explained that the figure surpasses the an...

January 10, 2020 No Responses

FG Reconstitutes CAC Board

The Federal Government on Thursday reconstituted the new board of Corporate Affairs Commission (CAC) and appointed Mr Ademola Seriki as the board Chairman with effect from Jan. 7.A statement issued in Abuja by Mr Ibrahim Haruna, Deputy Director, Press of...