Business

The management of Nestle Plc on Tuesday May 22, 2018 received encomium from shareholders for the N27.50 kobo that was proposed as final dividend for the full year ended December 31, 2017. The approved dividend is aside N15 interim dividend that was paid last, which now makes it a total dividend of N42.50 kobo for 2017 financial year. The shareholders …

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The Nigeria Bar Association (NBA) is seeking collaboration with the Securities and Exchange Commission (SEC) in the Commission’s efforts to deepen the capital market. Chair NBA Section on Business Law (SBL) Mr. Olumide Akpata, made the call when members of the NBA-SBL visited the SEC office in Abuja While assuring the Ag. DG of the support of his members, Akpata …

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Lagos State Governor, Akinwunmi Ambode, while inspecting the ongoing projects in the Lekki Free Trade Zone, at the weekend, said the massive investments being jointly made in the axis by government and the private sector was targeted at making Lagos emerge as the next destination for business in Africa. Ambode, who inspected the progress of work alongside cabinet members, billionaire …

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Chukwuma Soludo, a former governor of the Central Bank of Nigeria (CBN), has proposed a single tenure of six years for presidents in the country. He also suggested five vice-presidents serving at a time — one from each geo-political zone. Soludo made the proposal at the south-east summit on restructuring Nigeria ongoing in Awka, Anambra state capital. He said having …

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The Securities and Exchange Commission (SEC) on Monday said it was investigating the $1 billion alleged investment in Unity Bank Plc by Milost Global Incorporated. Efe Ebelo, SEC’s Acting Head, Corporate Communications, who confirmed this  in Lagos said the investigation into the Unity Bank/Milost case was still on, and that anyone found wanting would be sanctioned appropriately in line with …

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The Nigerian Stock Exchange (NSE) on Monday lifted an 18-month suspension placed on shares of Ikeja Hotel Plc since November, 2016. The NSE had suspended trading in the shares of Ikeja Hotel Plc following a dispute among the majority shareholders of the company. The dispute led to the removal of Goodie Ibru, its chairman, in 2015 at an extraordinary general …

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The International Monetary Fund on Monday expressed concern over Nigeria’s capacity to repay its debts and stressed the need for the Federal Government to mobilise more revenues domestically. The Washington-based fund, at the public presentation of the Spring 2018 Issue of the Regional Economic Outlook for Sub-Saharan Africa, said the public debt in the region was on the rise. IMF …

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Nigeria’s economic growth slowed in the first quarter of 2018 for the first time since the country pulled out of recession last year as the non-oil sector struggled, the National Bureau of Statistics said on Monday. The economy grew by 1.95 percent in the first quarter lifted by the oil sector. That was a slight dip from 2.11 percent year-on-year …

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Nigeria’s Gross Domestic Product grew by 1.95 per cent year-on-year in real terms in the first three months of this year. The National Bureau of Statistics stated this on Monday in its GDP report for the first quarter of 2018. “This shows a stronger growth when compared with the first quarter of 2017 which recorded a growth of -0.91 per cent, indicating …

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A verdict is expected at the end of this month in the trial of 16 members of a mostly female network of Nigerian human traffickers operating forced prostitution rings in France. The traffickers went on trial last week at the high court of Paris, facing their accusers as the trafficked women testified to being lied to, beaten and raped. Plaintiffs …

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