Economy Archives — Page 52 of 184

August 15, 2023 No Responses

NGX, CIS, ASHON Partner MOFI On Market Development, Listings

Nigerian Exchange Limited (NGX), Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria (ASHON), have demonstrated their willingness to collaborate with the Federal Government through the Ministry of Finance Incorporated (MOFI) in facilitating market development and listings....

August 15, 2023 No Responses

CBN: New FX Policy Will Lead To Losses For Speculators

The acting Governor of the Central Bank of Nigeria (CBN) Fola Shonubi, on Monday warned speculators of potential losses as they implement a new policy to stabilize the exchange rate regime. Shonubi explained that the CBN has come up with...

August 15, 2023 No Responses

Shell Resumes Exports At Forcados Terminal

Nigeria’s crude oil export is set to rise as Shell Petroleum Development Company (SPDC) has announced that exports of Nigeria’s Forcados grade of crude oil have resumed. Shell spokesperson told Reuters on Monday that the loading had resumed roughly a...

August 14, 2023 No Responses

Oil Prices Drop Amid Concerns Over China’s Economy

Oil prices eased on Monday as concerns about China’s faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. Reuters report that Brent crude futures fell 73 cents, or 0.84%,...

August 14, 2023 No Responses

NCAA Threatens Sanction Over Inappropriate Insurance Cover

The Nigeria Civil Aviation Authority (NCAA) has threatened to sanction airlines and allied aviation services that violate the Nigerian Civil Aviation Regulations (Nig. CARs) 2022 on insurance cover for their equipment. A statement issued on Sunday by the...

August 13, 2023 No Responses

HMM Orders Four Multi-Purpose Heavy-Lift Ships

South Korea’s flagship carrier HMM has signed a new shipbuilding order with China State Shipbuilding Corporation’s subsidiary Huangpu Wenchong for four 38,000-ton multi-purpose heavy-lift ships. Designed by the Shanghai Merchant Ship Design and Research In...

August 13, 2023 No Responses

Obaseki Reiterates Support For Edo Youth

The Edo State Governor, Mr Godwin Obaseki, has pledged to continue to work closely with the youths in the State for its development, growth and progress. Obaseki gave the assurance when he and his wife, Betsy, were conferred as grand...

August 12, 2023 No Responses

Gas Retailers Task FG On More LPG Local Production

THE Liquefied Petroleum Gas Retailers (LPGAR) has suggested to the Federal Government to establish more local LPG production plants, and encourage storage and transportation of the product to avert price hike. Mr Ayobami Olarinoye, the Branch National Chairman...

August 12, 2023 No Responses

Edo Begins Recertification Exercise For Gas, Petrol Stations

The Edo State Government through the State’s Ministry of Physical Planning, Housing, Urban and Regional Development, has kicked off a recertification exercise for gas and petrol stations in the State. In a statement, the Permanent Secretary, Edo State Minist...

August 11, 2023 No Responses

NGX Partners CSCS, Euroclear On Dollar Settlement Platform For Fintechs

Nigerian Exchange Limited (NGX) has disclosed that it is working with the Central Securities Clearing System (CSCS) Plc and Euroclear to create a dollar settlement platform that will enable tech startups to raise in dollars. The Exchange stated that this...

August 11, 2023 No Responses

Plastic Pollution: NSML Unveils Clean Waterways Initiative

NLNG Shipping and Marine Services Limited (NSML) has launched its Clean Waterways Initiative, a programme to raise awareness of the dangers of plastic pollution and to advocate for action to address the issue. Speaking on the initiative, the Chief Execut...

August 10, 2023 No Responses

Committee Projects FIRS As Sole Revenue Collection Agency For FG

Barring last-minute adjustment, a proposal by the Presidential Committee on Tax Policy and Fiscal Reforms may stop about 63 Ministries, Department and Agencies (MDA) from collecting revenue on behalf of the Federal Government. Some of the agencies are the Nige...

August 10, 2023 No Responses

Coscharis Group Appoints Fred Amobi DGMD

Following the exit of Dr. Okey Nwuke, the board of Coscharis Group has approved the appointment of Mr. Fred Amobi as the Deputy Group Managing Director (DGMD) of the organization effective from 1st August 2023. In a statement sent to...

August 10, 2023 No Responses

SEC, PENCOM, NGX Reiterate Commitment To Deepening Securities Lending

With the aim of enhancing investor participation and securities lending transactions in the Nigerian capital market, the Securities and Exchange Commission (SEC), National Pension Commission (PENCOM) and Nigerian Exchange Limited (NGX) have reaffirmed their co...