Business news
Amaka Obiefuna Stanbic IBTC Bank PLC, has received approval from the FMDQ OTC PLC for the renewal of its shelf registration of N100 Billion Multicurrency Commercial Paper (CP) Programme. The renewal of the Programme, initially established in 2012 in compliance with the Central Bank of Nigeria (CBN) guidelines for CP issuance, demonstrates Stanbic IBTC Bank’s […]
Amaka Obiefuna. Sources at the CBN have revealed that the apex bank is committed to ensure a convergence between the interbank and Bureau de Change (BDC) rates soon, hence the move to continue its intervention in the interbank market. On Tuesday, May 30, 2017, the CBN intervened in the inter-bank market to the tune of […]
Amaka Obiefuna. Nigeria’s Securities and Exchange Commission (SEC) may revoke the registration of about 400 Capital Market Experts or Professionals who do not comply with the directive to provide updated information of their companies/firms by July 31, 2017. A circular from SEC reveals that “any firm whose response is not received within this time frame […]
Nigeria is deeply mourning the passing of Professor Babatunde Osotimehin, the late Executive Director of the UN Population Fund UNFPA. Nigeria’s Minister of Health, Prof. Isaac Adewole, described the sudden demise of former Minister of Health, Prof. Babatunde Osotimehin as shocking, describing him as a role model whose legacies shall endure. Professor Adewole said “the […]
The nation’s total indebtedness to foreign and local creditors now stands at N19.16tn, the Debt Management Office has said. This is N1.8tn increase from the N17.36tn recorded at the end of December 2016. As of March 31, 2015, the country’s total debt stood at N12.06tn. This means the debt level increased by N7.1tn in two […]
Amaka Obiefuna. Branches of Ecobank Nigeria Limited in Anambra State were on Thursday June 1, 2017 sealed on the authority of the Anambra State Board of Internal Revenue. The Bank in a statement explained that the closure was based on a “purported Exparte Court Order on account of Legacy Oceanic Bank alleged PAYE back […]
Amaka Obiefuna Seplat Petroluem Development Company Plc’s gas business exceeded $100 million revenue milestone projection for the year 2016 despite various challenges in the sector. At the firm’s 4th Annual General Meeting (AGM) on Thursday in Lagos, Chief Executive Officer, Austin Avuru explained that while force majeure at the forcados terminal has “materially affected our […]
No fewer than 500 pupils participated in the Heritage Bank Plc-GTA Communications Limited Children Day Celebrations organised for 20 primary and secondary schools in different parts of Lagos State over the weekend. Apart from the exited pupils and students who trooped out to participate in the celebrations, the event, held at Ronnie Event Centre at […]
The African Export-Import Bank (Afreximbank) has successfully closed a record 632.9 million dollars and 499.6 million Euro dual-tenor dual-currency syndicated term loan facility. Afreximbank announced this in a statement released in Lagos. It said that the general syndication stage of the 632.9 million dollar and 499. 6 million Euro facility, which the bank raised in […]
Dr Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), on Sunday, pledged to support any legislative process to end gas flaring. Baru made the pledge in Abuja in a statement by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs Division NNPC. The Department of Petroleum Resources (DPR) had said […]