Finance – Page 10 – City Business News

July 13, 2018 No Responses

Buhari Implores Lending Banks On Stronger Partnership

President Muhammadu Buhari Thursday in Abuja called for stronger partnership with lending banks to reduce the nation’s infrastructure deficit, assuring of his administration’s full commitment to implement all agreements. Receiving the Board of African Export and Import Bank, AFREXIM, led...

July 10, 2018 No Responses

NIMASA Engages CBN On Special Interest Rate

The Director General of Nigerian Maritime Administration and Safety Agency (NIMASA) Dr Dakuku Peterside has disclosed that the Agency is engaging the Central Bank of Nigeria to create a special interest rate for maritime assets acquisition in Nigeria stating t...

July 9, 2018 No Responses

Shareholders fault Oando’s 2017 Result, Seeks Forensic Audit

Shareholders under the aegis of Proactive Shareholders Association of Nigeria (PROSAN), at the weekend, faulted the 2017 full year result of Oando Plc. The group also lamented the inability of the company to pay dividend to its shareholders for...

July 6, 2018 No Responses

“NNPC Pays $1b Out Of $5b Cash Call”

The Nigerian National Petroleum Corporation (NNPC) has paid $1billion out of its $5billion cash call. The Group Managing Director, Dr. Maikanti Baru stated this in Abuja while addressing the corporation’s workers via a mail broadcast to commemorate his two-y...

June 23, 2018 No Responses

Investors Stake N4.85B On UBA, Zenith, FBN Holdings In Four Days

For the week ended June 22, 2018, trading in the shares of United Bank for Africa Plc (UBA), Zenith International Bank Plc and FBN Holdings Plc accounted for 325.580 million shares worth N4.854billion in 3,381 deals, contributing 29.68% and 31.37%...

June 22, 2018 No Responses

‘Nigerian Banks Lose N12.30B To Fraud In Four Years’

The Nigerian Inter-Bank Settlement System (NIBSS), on Thursday said the banking industry lost the sum of N12.30 billion to various frauds between 2014 and 2017. Mr Adebisi Shonubi, Managing Director, NIBBS, disclosed this at the third Annual Banking Security S...

June 20, 2018 No Responses

FG Explains N1.580Trillion Capital Cost To MDAs

The Federal Government has announced that a total of N1,580,270,755,084.44(One trillion, five hundred and eighty billion, two hundred and seventy million, seven hundred and fifty-five thousand, eighty-four naira, forty-four kobo) capital cost was released to M...

June 20, 2018 No Responses

Naira Converges At N360 To Dollar

The Naira on Tuesday converged at N360 to the dollar across the major foreign exchange market, the News Agency of Nigeria(NAN) reports. At the parallel market, the naira traded at N360 to a dollar, stronger than the N360.6 exchanged before...

June 13, 2018 No Responses

CBN Injects $210m Into Foreign Exchange Market

The Central Bank of Nigeria (CBN) on Tuesday injected 210 million dollars to meet customers’ requests in various segments of the foreign exchange market. The acting Director, Corporate Communications, CBN, Mr Isaac Okorafor in a statement in Abuja said the...

June 11, 2018 No Responses

“New Excise Duty Rates Not Targeted At Local Manufacturers”

The new excise duty rates approved by President Muhammadu Buhari on alcoholic beverages and tobacco are not targeted at local manufacturers, the Ministry of Finance has declared. In a statement on Sunday the Ministry explained that the new excise duty...

June 9, 2018 No Responses

WFE Explains Renewed Focus On Growth In Capital Markets

The World Federation of Exchanges (WFE) on Friday co-hosted a symposium with the Shanghai Stock Exchange (SSE) on the future of global capital markets. Held in Shanghai, the event brought together WFE members and industry stakeholders to focus on three...

May 31, 2018 No Responses

CBN Sustains FOREX Market Intervention With $210M

The Central Bank of Nigeria (CBN), on Wednesday, May 30, 2018, again sustained its supply in the inter-bank Foreign Exchange market with the sum of $210 million The Bank offered the sum of $100 million to authorized dealers in the...

May 29, 2018 No Responses

Emefiele Inspects Dollar Sales In Abuja

Mr Godwin Emefiele, Governor, Central Bank of Nigeria (CBN), on Monday paid an unannounced visit to First Bank, UBA and Zenith banks offices in Abuja to inspect sales of foreign currencies to customers. He said that the visit was...

May 28, 2018 No Responses

Photo News

The Honourable Minister of Finance, Mrs. Kemi Adeosun, with her predecessor and former Managing Director of World Bank Group, Dr. Ngozi Okonjo-Iweala, at the 53rd Annual Meetings of the African Development Bank’s (AfDB) Board of Governors in Busan, South...