Tag Archives: SEC

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Dangote targets 2m metric tons of sugar annually The Dangote Sugar Refinery Plc, a member of Dangote Group, on Monday said it plans to produce between 1.5 and 2 million metric tons of refined sugar annually from locally produced sugarcane. The Acting Group Managing Director, Mr. Abdullahi Sule, made the disclosure at the 2016 World Food Day celebrations organised by …

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LCCI Holds Dialogue on Port Efficiency and Maritime Sector Roadmap The Lagos Chamber of Commerce and Industry (LCCI), the premier Chamber of Commerce in collaboration with the Financial Derivatives Company, a renowned economic consultancy firm, is set to hold a Public-Private Dialogue on Port Efficiency & Maritime Sector Roadmap in Nigeria. The objective is to design a roadmap for the …

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Senate Lauds NDIC For Regular Remittance To Consolidated Revenue Fund The Senate Committee on Banking, Insurance and Other Financial Institutions has commended the Nigeria Deposit Insurance Corporation (NDIC) for its prompt and regular remittance of its operating surplus into the Consolidated Revenue Fund (CRF) in line with the provision of the Fiscal Responsibility Act (FRA), 2007. The Committee Chairman, Sen. …

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CBN Approves Special Forex Intervention For Airlines The Central Bank of Nigeria has approved a Special Secondary Market Intervention Retail Sales for airlines operating in the country to enable them to access foreign exchange. NAN report’s that the Deputy Director, Press and Public Affairs, Ministry of Transportation, Mr. James Odaudu, announced the plan in a statement in Abuja on Friday. …

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‘FirstBank now sole Foreign Exchange Dealer to BDCs’ Following the complicity of some banks in handling foreign exchange transaction with Bureau de Change (BDC) in the domestic economy, the Central Bank of Nigeria (CBN) has announced FirstBank the sole authorized dealer for foreign exchange proceeds to licenced Bureau de Change operators. According to First Bank, the announcement is coming on the heels …

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Adeosun Speaks at Workshop on Cost Management, Says Eliminating Waste is a National Duty   The Minister of Finance, Mrs. Kemi Adeosun on Thursday disclosed that the Federal Government would soon issue a new template on approved expenses for state-owned enterprises as efforts are being intensified to control the nation’s recurrent expenditure. The Minister gave the hint at a workshop …

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CBN assures that Nigerian Banks are Liquid … to Sanction Customers Withdrawing Above $50,000 Annually From FRIDAY EKEOBA Piqued by some international financial reports, that seven banks in the domestic economy are undercapitalised, the Central Bank of Nigeria (CBN) has assured both local and international investors that all banks in the country are solvent to carry out banking operations. The …

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   The Nigerian Stock Exchange (“The Exchange or NSE”) in collaboration with Independent Software Vendors (ISVs) and Market Data Vendors (MDVs) is set to host its inaugural Market Data Workshop, on Tuesday, October 18, 2016 at The Civic Center, Victoria Island, Lagos. The workshop aims to increase awareness on the critical role of Market Data in making sound investment decisions …

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Sukuk Issuance Gets Major Boost …guidelines for granting liquid assets approved The Sukuk Inssuance, the non-interest equivalent of bonds has recieved the Central Bank of Nigeria (CBN) approval “Guidelines for Granting Liquid Asset Status to Sukuk Instruments Issued by State Governments”. The Securities and Exchange Commission (SEC) who brought this information to the capital market community yesterday, said this will …

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