Business news
Fidelia Okafor. A Bill which seeks to encourage cassava farming on Wednesday scaled second reading at the floor of the Nigerian Senate. The proposed legal framework sponsored by Senator Rose Oko (Cross River North) is titled “A Bill for an Act to provide for a legal framework for the cassava inclusion policy of the federal […]
Amaka Obiefuna. Fitch Ratings Ltd revised the outlook on Nigeria to negative from stable over concerns that a lack of foreign exchange will hamper the economy, and affirmed the West African nation’s rating at B+, four steps below investment grade. While Nigeria’s economy will probably expand at 1.5 percent this year, after contracting by an […]
Amaka Obiefuna. Mounir Gwarzo who is the Director –General of the Securities and Exchange Commission (SEC), is assuring the commitments of the commission to promote the development of Commodity Exchanges in the country. H was speaking while receiving the New Exco of the Association of Stock broking Houses of Nigeria(ASHON) in Abuja, Mr. Gwarzo said […]
Amaka Obiefuna. AMCON, the Nigerian agency responsible for Asset Management says there are great potential and huge returns for investors willing to invest in the country. The Asset Management Company also argues that the momentary challenge equally makes it the right time for strategic investors to take their position in the country, as it would […]
Fidelia Okafor Dana Air, in partnership with the Imo State Government has launched Imo Air operated by Dana Air. Speaking during the launching of Imo Air at Sam Mbakwe Airport, Imo State, the State Governor Owelle Rochas Okorocha said, ‘’ this is a 10-year partnership between Dana Air and the Imo State Government and it […]
Winifred Bosa. The National Agency for Food, Drug Administration and Control, NAFDAC, has destroyed eleven containers of fake drugs worth over nine billion naira. The destruction of the counterfeit drugs was supervised by the Minister of Health, Professor Isaac Adewale at NAFDAC dump site in Igwuruta, Rivers state. Adewale said the fake drugs were mainly […]
Amaka Obiefuna. Wema Bank Plc. has appointed Ademola Adebise as the Deputy Managing Director of the bank and the decision has been approved by the Board of Directors of the bank. The board announced this at a retreat held recently in Lagos. The appointment has also been approve by the Central Bank of Nigeria (CBN). […]
Amaka Obiefuna. A circular being sent out by the National Insurance Commission, NAICOM has revealed that the agency is planning a verification of capital resources of insurance companies in the country by the first quarter of the year. The circular titled: “statement of NAICOM’s regulatory priorities for 2017” and dated 23rd January, 2017, was send […]
Nigeria’s president, Mohammadu Buhari has written to the Senate to re-nominate Ibrahim Magu as Chairman, Economic and Financial Crimes Commission (EFCC). In a correspondence read at plenary by the Senate President, Senator Bukola Saraki, the President said he had taken due note of the content of the Senate resolution of 15th December, 2016 and their […]
Amaka Obiefuna. In view of president Donald Trump and he’s administration’s treat to review United States trade agreement with countries around the world, Nigeria’s Central Bank has decided to retain all monetary policy rates, this, it believes will forestall any negatively impact of global economy. The decision was reached at the Monetary Policy Committee meeting, […]