Latest Nigeria Business News
To facilitate access to operational information, the Nigerian Ports Authority has agreed to integrate the transaction portal of the Council for the Regulation of Freight Forwarding in Nigeria into its web portal. The Managing Director, NPA, Hadiza Bala-Usman, disclosed this while receiving members of the CRFFN governing board who paid her a courtesy call recently, […]
The Securities and Exchange Commission and the Nigerian Financial Intelligence Unit have signed a Memorandum of Understanding to collaborate in combating crime in the Nigerian capital market and to ensure that suspicious transactions are eradicated from the market. The acting Director-General, SEC, Ms Mary Uduk, who spoke in Abuja during the signing of the MoU, […]
The Chairman of Cooperative Mortgage Bank Limited, Walter Ogujiofor, has said that the management of the bank successfully prevented its death twice when regulatory recapitalisation was mandated in Nigeria, adding that the bank recovered from a loss of N112.5m in 2009 to N393m profit in 2018, representing 183 per cent growth. Ogujiofor spoke at a […]
The Federal Airports Authority of Nigeria has begun the process of creating awareness on food handling across airports in the country. The agency said this became necessary following an increase in food poisoning incidents not just at airports within the country but globally, adding that food handling within airports had become a source of concern. […]
Managing Director of the International Monetary Fund (IMF) Christine Lagarde announced in a statement on Tuesday that she has submitted her resignation from the IMF. However, it will go into effect in September. “I have met with the Executive Board and submitted my resignation from the Fund with effect from September 12, 2019. “The relinquishment […]
The interbank segment of the Nigerian foreign exchange market received a fresh boost of 210 million dollars from the Central Bank of Nigeria (CBN) on Tuesday. The CBN Director of Corporate Communications Department, Mr. Isaac Okorafor, said this in a statement in Abuja. He said the figures released by CBN indicated that authorized dealers in […]
Banks will be collaborating with credit bureau operators to achieve the Central Bank of Nigeria’s (CBN’s) 60 per cent Loan to Deposit Ratio (LDR) policy, The Nation has learnt. The CBN’s directive, expected to lead to more than N1.4 trillion in loans to customers, is in line with the apex bank’s commitment to boost economic growth through […]
Wema Bank, the creator of Africa’s first fully digital bank, ALAT, has launched a new online platform to provide seamless payment services to customers and merchants. The platform, named Outlet By ALAT, is primarily designed to connect shoppers with a range of digital services, including payments, event and movie ticket purchases, flight bookings, bet wallet […]
Flour Mills of Nigeria Plc witnessed contractions in sales and profitability in the immediate past business year, as net profit declined by 70.6 per cent from N13.6 billion in 2018 to N4 billion in 2018. Key extracts of the audited report and accounts of the company for the year ended March 31, 2019 showed that […]
Fidson Healthcare Plc has successfully raised about N2.345 billion from its shareholders to recapitalise its operations. The healthcare company had set out to raise N3 billion through a rights issue to existing shareholders, but the offer was undersubscribed by N655 million. Fidson Healthcare had offered 750 million ordinary shares of 50 kobo each through a […]