Business

The Board of the International Organization of Securities Commissions (IOSCO) is seeking feedback on its proposed recommendations to assist trading venues and regulatory authorities in the implementation of mechanisms to manage extreme volatility. Extreme volatility in securities markets can undermine IOSCO’s objective of ensuring that markets are fair, efficient and transparent, weaken market integrity and reduce investor confidence.  Following recent …

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— It Advocated For Tax Reform Measures The International Monetary Fund (IMF) has confirmed that Nigeria is out of recession and applauded the country’s strong recovery in foreign exchange reserves. Leadership reports that this was contained in a report released on Wednesday, March 7, in Washington DC by its executive board after the conclusion of Article IV Consultation with Nigeria. …

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Photo Caption: From Left; Alex Tarka, Financial Secretary, Nigerian Association of Petroleum Explorationists (NAPE); Bola Adeeko, Head, Shared Services Division, The Nigerian Stock Exchange (NSE); Andrew Ejayeriese, President, NAPE; Nonny Nwogbo, Treasurer, NAPE and Anthony Ofoma, General Secretary, NAPE  during the Closing Gong Ceremony at the Exchange on Wednesday.

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The National Pension Commission ( PenCom ) has recovered pension contributions and interest totaling N1.34billion from defaulting employers during the third quarter of 2017. The Commission in its 2017 third quarter report posted on its website said it used 55 consultants as recovery agents to get back the outstanding pension contributions and penalties from the defaulting employers. PenCom said the …

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The head of the International Monetary Fund warned Wednesday that a trade war US President Donald Trump apparently intends to provoke with tariffs on steel and aluminium would snuff out global growth. “If international trade is called into question by these types of measures, it will be a transmission channel for a drop in growth, a drop in trade and …

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The Nigerian National Petroleum Corporation (NNPC) on Monday said it has brought down the cost of producing crude oil to $20 per barrel. This is $4 less than the previous cost but still above the average of $10 in Saudi Arabia. Speaking at the Technology and Innovation Expo 2018 in Abuja, Maikanti Baru, group managing director, NNPC reaffirmed the federal …

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As part of its Retail Banking strategy, Unity Bank recently rolled out its Agent banking services in the North Western states of Kano and Jigawa as a vehicle to reach out to the unbanked and deepen financial inclusion. In line with Central Bank of Nigeria’s financial inclusion mandate, Unity Bank targeted its Agent Banking services at Gumel in Jigawa state …

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Nestle Nigeria Plc has recommended a final dividend per share of N27.50, in addition to the interim dividend of N15 paid during the 2017 financial year, bringing total dividend to N42.50, retaining a mere N0.05 of the earnings per share of N42.55. At the end of 2016, the board had paid N10 final dividend per share. It must be noted …

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The Peoples Democratic Party (PDP) has dismissed the claim of the Nigerian National Petroleum Corporation (NNPC) that petrol subsidy gulps N774 million every day. On Sunday, the NNPC said though it incurs the subsidy cost daily, the benefit is being enjoyed by only a few due to “continued smuggling” of petrol in the country. But the opposition accused the current administration of fabricating …

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Ibe Kachikwu, minister of state for petroleum resources, says Nigeria has forever lost the United States as a significant crude export market. Up until the early 2000s, the US was Nigeria’s top crude importer, buying around 700,000 b/d of the commodity from Africa’s biggest producer, and climbed as high as 1.31 million b/d in February 2006, according to the US …

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