DMO enlists support of sub-national entities in managing Nigeria `s rising public debt
Jacob Ajakaiye in Kano
December 6, 2018
By Jacob Ajakaiye, in Kano The Debt Management Office (DMO), has charged state governments to put in place debt management windows, as well as legislative instruments as a way of effective management of the nation’s raising public debt. The debt office said the call has become imperative, as Nigeria’s total public debt has continue to […]
Polaris bridge bank option saved N949.60bn depositors` funds in defunct Skye Bank, says Nigeria’s deposits insurer, NDIC
Jacob Ajakaiye in KanoDecember 6, 2018
By Jacob Ajakaiye, in Kano Nigeria Deposit Insurance Corporation (NDIC), an agency of the federal government established for the protection of depositors fund in the nation`s financial system, says the recent adoption of a bridge bank option was an intervention measure taken to prevent the loss of N949.60 billion of depositors’ money in the defunct […]
Nigeria’s Standard Organisation vows to expose adulterated lubricant dealers
Nse Anthony-UkoDecember 4, 2018
The Standards Organisation of Nigeria (SON) has stated that it would blacklist and publish the names of erring importers and manufacturers of fake and sub-standard lubricants in the country. Osita Aboloma, director general, SON disclosed that the action would also send a strong warning to unscrupulous individuals to desist from the nefarious trade in fake […]
Budget minister tasks accountants on fight against corruption
Nse Anthony-UkoDecember 4, 2018
Udoma Udo Udoma, Nigeria’s minister of Budget and National Planning has called on chartered accountants to support the anti-corruption fight of the federal government by creating systems that promote transparency and make it difficult for diversion of resources. Udoma who made the call in Abuja on Tuesday when the executive of the Institute of Chartered […]
Nigeria equities market records first gain in December on banking index growth
Adesola AfolabiDecember 4, 2018
Nigeria’s equities market Tuesday recorded a 0.68 percent gain, the first gain of the month, to reverse Monday’s loss. The market had recorded a loss of 0.24 percent on Monday. The upturn was however driven by a 2.62 percent growth in the banking sector performance index on bargain hunting in banking stocks such as Guaranty […]
Global markets surge on China-U.S. trade truce, dollar dips, yuan up
Businessam StaffDecember 4, 2018
A temporary ceasefire in the U.S.-China trade war boosted global stocks to their highest in about three weeks on Monday, while sending the dollar lower and the Chinese yuan and several trade-dependent currencies higher. The rally in equities follows an agreement reached between Washington and Beijing at the G20 summit in Argentina on Saturday that […]
Nigeria SEC takes e-Dividend campaign to South East
Businessam StaffDecember 4, 2018
The Securities and Exchange Commission (SEC) south east zonal office is to commence a sensitisation programme on the process and benefits of e-Dividend, multiple subscription, e-processes and other contemporary issues in the Nigerian capital market. The programme will take the form of town hall meetings with stakeholders and the general public The SEC said the […]
Access Bank collaborates with firm to end violence against women
Businessam StaffNovember 28, 2018
Access Bank Plc, a female friendly bank, has, through its ‘Women Network’, partnered with Genesis House to organise the 4th edition of the annual ‘Orange Lecture’ on Friday, November 30, 2018 in Lagos. The essence of the collaboration is to support vulnerable women who have been sexually exploited through mentoring, as well as equip them […]
Wall Street recovers on anticipated hopes of trade truce, Powell’s speech in focus
Businessam StaffNovember 28, 2018
U.S. stocks gained on Wednesday on hopes of a trade truce between the United States and China at the upcoming G20 Summit, while investors looked forward to Fed Chairman Jerome Powell’s speech for clues on the path of interest rate hikes. Though President Donald Trump talked tough ahead of a high-stakes upcoming meeting with China’s […]
CRe Investment to acquire all outstanding shares of CRe Nigeria
Afolabi OluwaseunNovember 27, 2018
Afolabi Oluwaseun The board of directors of Continental Reinsurance Plc (CRe Nigeria) has announced that it has received an offer from CRe African Investment (CRe Investments), to acquire all the outstanding and issued shares of CRe Nigeria. In a bid to consolidate CRe Nigeria’s operations and repositioning it for enhanced competitiveness in the global insurance […]