The Federal Government appears to be under fresh pressure to re-open Nigerian land borders shut August last year, after it emerged that the closure was one of the reasons Ghana is moving against Nigerian traders in the country. The Federal Government, said it took the decision due to ECOWAS countries disregard of trade protocols,...
The Board of Polaris Bank Limited has announced the appointment of Innocent C. Ike as its new Acting Managing Director/CEO, as a replacement for Tokunbo Abiru, who will be proceeding on his retirement, having successfully completed his two terms of two years each; first as Group Managing Director/CEO, Skye...
The Minister of Aviation, Mr Hadi Sirika says the Akanu Ibiam International Airport, Enugu is ready for resumption of flights. Sirika said this on Saturday in Enugu after the final round of inspection of rehabilitation works in the airport prior to the official reopening of the complex. The Federal Government had...
The Board of Polaris Bank Limited and Asset Management Corporation of Nigeria (AMCON), the Bank’s shareholder, have announced the appointment of Mr Innocent Ike, as the Acting Managing Director/CEO of Polaris Bank Limited, effective Sept. 1. Mr Babatunde Osibodu, the Company Secretary, said in a statement on Saturday in Lagos,...
Digiconverge, a one-stop digital convergence platform that provides fit-for-purpose services in e-broadcasting and global content syndication has launched operations in Africa, starting with Nigeria. The platform which already enjoys the blessings of the Federal Government of Nigeria, has signed an exclusive content distribution partnership for Africa with the Viva Entertainment...
Thirty-five youths who participated in the third phase of Anambra Government’s “One Youth, One Skill” programme, on Saturday received start-up kits in their various areas of specialisation. Prof. Theresa Obiekezie, the Commissioner for Youth Empowerment And Creative Economy while handing over the equipment to the beneficiaries, charged them to use them...
The Association of Bereau De Change Operators of Nigeria (ABCON) said on Saturday in Lagos that the resumption of foreign exchange to BDCs would usher in stability in the market. Alhaji Aminu Gwadabe, ABCON President, told the News Agency of Nigeria (NAN) that the BDCs was and would remain the...
Mr Kevin Amugo, Director, Financial Policy and Regulation Department, CBN, on Friday said that talks were ongoing with other financial institutions, to bring them on board the Credit Risk Management System (CRMS). Amugo made the announcement at a webinar in Lagos, organised by CRC Credit Bureau Limited, in association with...
The volume of shares traded on the Nigerian Stock Exchange (NSE) on Friday dropped by 45.46 per cent. Speficially, investors sold and bought 137.05 million shares worth N920.53 million in 2,869 deals. This was in contrast with 251.29 million shares valued at N1.58 billion exchanged in 2,954 deals on Thursday. Access Bank...
Tiffany & Co, which has delayed the close of its $16.2 billion sale to France’s LVMH, reported a 29 per cent drop in quarterly sales on Thursday as the COVID-19 pandemic hammered demand for luxury goods. The U.S. jeweler, however, said sales trends were improving in August, mainly driven by...
Abercrombie & Fitch Co reported better-than-expected quarterly sales on Thursday as the apparel retailer benefited from a surge in online orders during the COVID-19 pandemic. Net income attributable to the company was $5.5 million, or 9 cents per share, compared with a loss of $31.1 million, or 48 cents per...
The Senate Joint Committee on Finance and National Planning has directed the Accountant General of the Federation Ahmed Idris to investigate the $18.32bn, which the Nigerian Liquefied Natural Gas Limited claimed to have paid as dividend to the Nigerian National Petroleum Corporation (NNPC) between 2004 and 2020. The directive was...
The manufacturing purchasing manager's index (PMI) of the Central Bank of Nigeria (CBN), in August 2020 witnessed a contraction for the fourth consecutive month, as it stood at 48.5 index points. In the apex bank's Index released on Wednesday, of the 14 subsectors surveyed, only six subsectors reported expansion while...
The Federal Airports Authority of Nigeria (FAAN) has said it lost N17.5 billion of aeronautic charges over the course of 23 weeks and incurred N1.4 billion loss of non-aeronautic charges between April and June. Hamisu Yadudu, the Managing Director of FAAN, made the disclosure during a virtual stakeholders’ session on Tuesday...
Luxury watchmakers Bulgari and Breitling and a handful of Swiss brands are gathering in Geneva this week for a scaled-down industry exhibition, braving the coronavirus pandemic to try to revitalise demand. The big Swiss watch fairs in Basel and Geneva, which usually attract thousands of visitors, were cancelled earlier this...
The tech-heavy Nasdaq was set to open slightly higher on Wednesday after upbeat business updates from Salesforce and HP Enterprise, while the S&P 500 headed for a subdued start. Salesforce.com Inc, which is set to enter the blue-chip Dow index next week, jumped 14.3 per cent in premarket trading after...
The Central Bank of Nigeria (CBN) has directed Deposit Money Banks (DMB) to provide bank gurantees to Nigeria Bulk Electricity Trading (NBET) and Transmission Company of Nigeria (TCN) on behalf of Distribution Companies (DISCos). The CBN gave the directive in a letter written to DMBs obtained by the News Agency...