Business

In line with on going demutualisation agenda, the Nigerian Stock Exchange (NSE) has commenced legal process to change its status, structure and governance. According to the Chief Executive Officer of NSE, Oscar Onyema, the successful conclusion of this process “will ultimately position our market as a more significant driver of socio-economic development.” In an interview published in the December 2018 …

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The Nigerian Ports Authority, on Thursday, said it would take the necessary steps to curb the untold hardship being faced by Ports users due to the burden of congestion. Hadiza Bala-Usman, NPA Managing Director, who gave the promise while speaking with newsmen in Lagos, said the authority was determined to especially curb traffic among other things. Bala-Usman, while reeling out …

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The Federal Government has so far released the sum of N820.5bn for the implementation of capital projects contained in the 2018 budget. The Minister of Budget and National Planning, Senator Udo Udoma gave the figure on Thursday in Abuja while making a presentation on the 2019 Budget. He said the total amount released for the capital project as of December …

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Nigerians have continued to express concern over Wednesday’s revelation by the Federation Accounts Allocation Committee (FAAC) that the excess crude revenue account savings has been depleted to only $631 million within three weeks. Barely three weeks ago, Minister of Finance, Zainab Ahmed, disclosed at the end of the committee’s meeting in Kaduna on November 25, 2018, that the balance in …

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The Federal Government has declared Tuesday, 25th, Wednesday 26th December 2018 and Tuesday 1st January 2019 as Public Holidays to mark the Christmas, Boxing Day and New Year Celebrations respectively. The Minister of Interior, Abdulrahman Bello Dambazau, made the declaration on behalf of the Federal Government in a statement signed by the ministry’s Director of Press, Mohammed  Manga on Wednesday …

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… Reporting becomes effective January 1, 2019 … Joins 39 SSEI members with ESG reporting Guidance In fulfilment of its desire to champion sustainable capital market practices in Africa, The Nigerian Stock Exchange has announced that its Sustainability Disclosure Guidelines has been approved by The Securities Exchange Commission (SEC). The Nigerian Stock Exchange recognizes that the promotion of Environmental, Social and Governance (ESG) principles …

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The Boards of Access Bank Plc (“Access Bank”) and Diamond Bank Plc (“Diamond Bank”) today announce that they have received “No Objection” from the Central Bank of Nigeria (“CBN”) regarding a potential merger between the two banks, which is expected to complete in the first half of 2019. Transaction completion is subject to Access Bank and Diamond Bank obtaining shareholder …

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In validation of their market leadership, expertise and the high standard of service quality to both local and international clients, Stanbic IBTC Stockbrokers Limited and Stanbic IBTC Capital Limited, members of Stanbic IBTC Holdings PLC, emerged the biggest winners at the recently held 2018 NSE CEO Awards, picking five out of ten award categories. Stanbic IBTC Stockbrokers Limited won two …

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Notwithstanding claims by President Muhammudu Buhari that the government has added 12 millions job in the economy, the National Bureau of Statistics on Wednesday finally released the Labour Statistics Report for the third quarter of this year with the unemployment rate rising from 18.8 per cent in the third quarter of last year to 23.1 per cent. The report which …

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  Dayo Emmanuel A repeat of pipeline inferno that claimed scores of lives in Abule Egba area of Lagos December 26 2006 was recorded this morning when suspected vandals destroyed a petroleum pipeline causing large inferno in same Abule Egba area. The fire that destroyed properties worth millions of Naira today according to eye witnesses started at about 3:30am. It …

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