Latest Nigeria Business News
The Police Service Commission has suspended the ongoing process of recruitment of 10,000 Constables into the Nigeria Police Force. The Commission explained that the suspension would enable it finalise the remaining stage of the exercise. The Commission also urged candidates to await further directives from it. This is contained in a statement in Abuja on […]
Against the backdrop of the growing threat to crude oil demand growth and rising production from the United States, the Organisation of Petroleum Exporting Countries needs to take action sooner than later to support oil prices at least around $60 a barrel Brent, IHS Markit said on Thursday. IHS Markit, a global information provider, said […]
Guinness Nigeria Plc has declared a dividend of N1.52 per ordinary share of 50 kobo each for the 2018 financial year, which translates to N3.32bn. The company, in its financial statement for the year ended June 30, 2019, which was made available to the Nigerian Stock Exchange on Thursday, said the dividend payment was subject […]
The equities market declined by N88.3bn on Thursday on the back of major sell-offs witnessed in Dangote Cement Plc, MTN Nigeria Communications Plc and Unilever Nigeria Plc. The market capitalisation of equities listed on the Nigerian Stock Exchange dropped from N13.431tn on Wednesday to N13.341tn on Thursday as the All Share Index declined by 0.66 […]
THE African Development Bank (AfDB) has committed $2 billion to the education and training of six million science students in Africa from 2005 to date. A statement by the bank’s Communication and External Relations Departmenton Thursday, in Abuja, said AfDB’s President, Dr. Akinwumi Adesina, broke the news at the Tokyo International Conference of African Development […]
THE Nigeria Deposit Insurance Corporation (NDIC) has called on financial institutions, especially microfinance banks (MfBs), to increase funding to Micro Small and Medium Scale Enterprises (MSMEs). Its Director, Special Insured Institutions Department, Mr Joshua Etopidiok, said such assistance to MSMEs could be done on the shoulders of moveable collaterals. According to him, moveable collaterals are […]
AUTHORITIES at the Nigerian Stock Exchange (NSE) on Thursday lifted suspension placed on trading on the shares of Royal Exchange Plc after the insurance-based holding group submitted its audited report and accounts. The NSE had in July 2019 suspended trading on Royal Exchange and 10 other companies for failing to adhere to best corporate governance […]
THE Board Chairman, Bank of Industry (BoI), Aliyu Dikko on Thursday said the lender has provided financial support worth N678 billion ($2.4 billion) to over two million Small and Medium Enterprises (SMEs). Dikko spoke at the North East Rehabilitation Fund Focus Group Session in Abuja. He said the bank is partnering with Emergency Coordination Centre […]
Telecoms giant, MTN, on Thursday said it is going to deepen financial inclusion with the launch of MoMo Agent in Abuja and other parts of the northern states. This follows the successful award of a Super-Agent License, Y’ello Digital Financial Services (YDFS) to the telco. Its General Manager, Mobile Financial Services, Mr Usoro Usoro, said […]
CHAIRMAN, Heirs Holdings, Tony Elumelu, has asked Japan to invest $2.5 billion representing five per cent of its $50 billion commitment to Africa. Elumelu, African investor and philanthropist, spoke at the seventh Tokyo International Conference on African Development (TICAD) in Yokohama, Japan. “At TICAD 2016 in Kenya, Japan pledged $30 billion for Africa. This year […]