Business news
Amaka Obiefuna. IEI-Anchor Pension Managers Limited on the 25th of August, 2017 received an award-Africa’s Best Innovative Pension Fund Administrator of the year. Femi Onoru, the Company Secretary/Legal Adviser received the award from Developments in Africa Merit Awards, on behalf of the Company. Onoru, while receiving the award, appreciated the conveners of the award and […]
Amaka Obiefuna. Nigeria’s apex bank, (CBN), continues its interbank foreign exchange market intervention this week by boosting it with $250million in three segments of the market. It sold $100 million in the wholesale segment of the interbank forex market, and also uplifted the small and medium enterprises (SMEs) and invisible segments, with the sum of […]
Amaka Obiefuna. A major insurance firm in Nigeria, Law Union and Rock Plc, has said it is significantly improving on its financial activities leading to healthy cash position now in excess of N6billion which will enable it to pay for any claims conveniently and get repaid by the reinsurers. Jide Orimolade who is the firms […]
Trading activities on the Nigerian Stock Exchange (NSE) has closed on a negative trend with the market indices dropping by 0.42 per cent. The market capitalization shed N52 billion or 0.42 per cent to close at N12.465 trillion against N12.517 trillion posted on Monday. Also, the All-Share Index, which opened at 36,317.31 lost 151.38 points […]
The Central Bank of Nigeria (CBN) has again intervened in the Inter-Bank Foreign exchange Market to the tune of 250 million dollars. The Acting Director, Corporate Communications Department, CBN, Mr Isaac Okorafor, said the Apex Bank also sold 100 million dollars and uplifted the Small and Medium Enterprises (SMEs) and invisible segments, with 85 million […]
The Minister of Science and Technology, Dr Ogbonnaya Onu, says the present administration will ensure that Nigeria saves up to N3 trillion through the adoption and usage of local contents within the next five years. Onu said this at the commissioning of N500 million data centre for the Nigerian Stock Exchange in Lagos. He said […]
Activities on the floor of the Nigerian Stock Exchange have again closed on a negative on the second trading day for this week. The Al Share Index fell by 0.42 per cent or 151.38 basis points to close at 36,165.93 basis points compared to Monday’s closing of 36,317.31 basis points. The market capitalisation also fell […]
The Nigerian National Petroleum Corporation, NNPC, has announced a major re-organization of its top management staff. In what it termed an “ongoing restructuring of the Nigerian National Petroleum Corporation, NNPC ” 55 top executives across the value chain of its operations were redeployed. The Group Managing Director of the Corporation, Dr. Maikanti Baru said […]
Over 1,000 women entrepreneurs in Plateau State has been given loan facility ranging from N10,000 to N50,000 by the Bank of Industry (BOI) under the Government Enterprise and Empowerment Programme (GEEP). The Managing Director of BoI, Mr. Olukayode Pitan, said the programme tagged: ‘MarketMoni Alert,’ is one of the federal government’s initiatives aimed at helping […]
Activities resumed on the Nigerian Stock Exchange (NSE) on a negative trend, with the market indices dropping by 0.90 per cent as predicted by market watchers. The market capitalisation shed N114 billion or 0.90 per cent to close at N12.517 trillion against N12.631 trillion posted on Friday. Also, the All-Share Index, which opened at 36,646.46, […]