The month of July will go as one of the best in 2017 based on the level of appreciation the key market indicators have witnessed on the floor of Nigerian Stock Exchange (NSE) so far. Specifically, at the close of business on Wednesday, the gaining points continued with 3.40 percent increase, while the year to date returns stood at 36.71 …

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The Senate at about 12.35p.m, on Wednesday, voted against devolution of powers to states. Forty eight members voted against it, while 46 voted in favour. It, however, voted ‎in favour of financial autonomy for states’ Houses of Assembly. It also gave its nod to financial autonomy for local governments. Advertisement

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Sperm counts of men in North America, Europe, Australia and New Zealand are plunging, according to a news analysis published Tuesday. Among these men there has been a 52% decline in sperm concentration and a 59% decline in total sperm count over a nearly 40-year period ending in 2011, the analysis, published in the journal Human Reproduction Update, said. Scientists determine sperm count …

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The Federal Government on Tuesday said that it had resolved to reduce taxes payable by telecommunications operators in order to enable them to expand their services to the hinterland. It stated this through the Minister of Communications, Mr. Adebayo Shittu, at the 2017 Information Communications Technology and Telecommunication Expo in Lagos, which was organised by the Lagos Chamber of Commerce …

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Coca-Cola saw profits drop sharply due to sales of bottling facilities as it moved to expand offerings of low-sugar and non-carbonated beverages amid flagging demand for sweet sodas, the company said Wednesday. Net income for the US soft drinks giant plunged 60 percent in the second quarter to $1.4 billion, while revenues fell 16 percent to $9.7 billion. Both were …

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The Nigerian Stock Exchange (NSE) for the very first time since the Goodluck Jonathan administration, crossed the N12 trillion market capitalisation mark. This occured on Tuesday after the Central Bank of Nigeria monetary policy committee voted to hold key interest rates at 14 percent for 12 months consecutively. The MPC also decided to hold cash reserve ratio (CRR) and liquidity …

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The Central Bank of Nigeria (CBN) has warned that Nigeria’s fragile growth risks falling back into recession. Addressing reporters at the end of the bi-monthly Monetary Policy Committee Meeting in Abuja yesterday, CBN Governor Godwin Emefiele said “forecasts of key macroeconomic indicators point to a fragile economic recovery in the second quarter of the year”. ”The Committee  cautioned that this recovery could relapse in a more protracted recession if strong and bold monetary …

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Guinness Nigeria Plc on Tuesday presented a breakdown of its plans to raise N39, 700,688,598 by way of rights issue to its existing shareholders, the event was attended by a cross section of stakeholders including shareholders, fund/portfolio managers, regulators, auditors, issuing houses and registrars. At the company’s Extra-ordinary General Meeting (EGM) in January 2017, shareholders authorized the Board of Directors …

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The Securities and Exchange Commission (SEC) in a circular culled from its website wishes to inform all Capital Market Operators (CMOs) and Public Limited Company (PLCs) on a new executive order by the Federal Government of Nigeria to comply with the new rule of Taxpayers on Voluntary Assets and Income Declaration Scheme (VAIDS) or face penalty. The SEC is encouraging …

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Africa Prudential Registrars Plc has been named the Best Registrar Firm in West Africa by Africa-Canada Trade Alliance at the 7th Edition of the West Africa Innovation and Excellence Awards ceremony which held at Abuja recently. According to a letter issued by the organisers, the innovation award celebrates outstanding innovations, brands and personalities in the public and private sectors across …

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