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The Naira on Friday suffered marginal loss against the US Dollar at the parallel market in spite of CBN’s intervention at the foreign exchange market, vanguardngr.com has reported. The Nigerian local currency lost one point to exchange at N366, weaker than N365 traded on Thursday, while the pound sterling and the Euro closed at N468 and N412, respectively. At the …

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Efforts by the regulators to revive the primary market segment of the Nigerian Stock Exchange (NSE) received a boost as the Bureau for Public Enterprise (BPE) has said the agency is currently working with core investors in certain privatised enterprises sold by deferred public offering to ensure that they sell at least 20 per cent of such entities to the …

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The Federal Government on Thursday commenced an aggressive campaign to drive the rate of voluntary tax compliance in the country and boost tax revenue. The campaign, which commenced at the headquarters of the Ministry of Finance in Abuja, saw top officials of the ministry as well as the Federal Inland Revenue Service visiting markets and other popular places within the …

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The Nigerian Stock Exchange, NSE, has placed the shares of 17 companies on suspension for failing to file their various financial statements as at when due. Most of the companies are in the insurance sector, and are also penny stocks. The companies include African Alliance Plc, Equity Assurance Plc, Guinea Insurance Plc, Sovereign Trust Insurance, Goldlink Insurance, Great Nigeria Insurance, …

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The African Development Bank (AfDB) said that financial markets in Africa need to increase their lending to Micro, Small and Medium enterprises (MSMEs) in the continent by at least $135 billion in order to meet their demand. In a statement to mark the United Nations’ (UN) MSMEs Day, AfDB noted that MSMEs in Africa need increased affordable loans and more …

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The board of the Nigerian Communications Commission (NCC) has held an emergency meeting to review the Etisalat debt issue in its entirety and also the intervention made by the commission. This is even as a House of Representatives panel on Thursday intervened in the current financial crisis that is rocking the telecom company in order to forestall further crisis. The …

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The Managing Director and Chief Executive Officer, Airtel Nigeria, Mr. Segun Ogunsanya, has stressed that telecom firms in Nigeria can successfully list on the Nigerian Stock Exchange and contribute significantly to the socio-economic development of the country, barring challenges confronting operators in the sector. According to him, an enabling business environment, policies that promote ease of doing business and market …

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The World Bank says the educational system in Nigeria faces a huge challenge and has pledged to invest more in the nation’s education with a view to improving its quality. The Senior Director of Education at World Bank, Dr Jaime Saavedra, said this on Thursday while questions from journalists shortly after the inspection and assessment tour of state-owned Iganmode Grammar …

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Following shareholder approval, Guinness Nigeria Plc has received clearance of the issue documents from the Securities and Exchange Commission (SEC) and approvals from the Nigerian Stock Exchange (NSE) to raise additional N39, 700,688,598 by way of rights to existing shareholders. The allotment will be on the basis of five new shares for every 11 shares held by shareholders, whose names …

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Etisalat Nigeria has confirmed the appoint of new Board of Directors and top management a result of the on-going restructuring efforts. The new board constituted comprise of Dr. Joseph Nnanna – Chairman, Mr. Oluseyi Bickersteth, Mr. Ken Igbokwe, Mr. Boye Olusanya and Mrs. Funke Ighodaro. Mr. Boye Olusanya replace Mr. Matthew Willsher as Chief Executive Officer, while Mrs. Funke Ighodaro …

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