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2019: CBN To Raise N1.8tn From Treasury Bills Sale Q1

2019: CBN To Raise N1.8tn From Treasury Bills Sale Q1

The Central Bank of Nigeria plans to raise a total of N1.809tn from the debt market, in the first quarter of 2019, The Cable reported on Thursday last week. This is according to data contained in the Nigerian Treasury Bills ...

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$8.1bn Repatriation: CBN, MTN Settle Out Of Court

$8.1bn Repatriation: CBN, MTN Settle Out Of Court

Telecommunications firm, MTN Nigeria Communications Limited, said on Thursday last week that it had reached an agreement with the Central Bank of Nigeria over the $1.8bn being demanded from it by the apex bank. The $1.8bn demand by the CBN ...

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NEXIM Seals Pact With SMEDAN To Boost SMEs’ Exports

NEXIM Seals Pact With SMEDAN To Boost SMEs’ Exports

The Nigerian Export-Import Bank has signed an agreement with the Small and Medium Enterprises Development Agency of Nigeria to promote the export of locally manufactured products by Small and Medium Enterprises. The Managing Director, NEXIM, Abba Bello, signed the instrument ...

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FAAN’s N100m Debt Leaves Airport Workers Without Salaries

FAAN’s N100m Debt Leaves Airport Workers Without Salaries

Aviation workers, who clean the Nnamdi Azikiwe International Airport, Abuja, have complained again, of not being paid their salaries despite promises by the concessionaire they work for and the Federal Airports Authority of Nigeria. It was learnt that the workers, ...

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SON Bags Four Global Management Systems Certifications

SON Bags Four Global Management Systems Certifications

The Standards Organization of Nigeria (SON) has said that it received four international management systems certifications from the National Accreditation Board for Certification Bodies. The Director-General, SON, Osita Aboloma, in a statement said the four standards were; ISO Quality Management ...

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NNPC, DPR, stakeholders mull new measures to sanitise oil sector

NNPC, DPR, stakeholders mull new measures to sanitise oil sector

•Govt to clampdown on illegal operators in sector Stakeholders in the nation’s oil and gas sector yesterday in Abuja, called for collaborative measures to end sharp practices that could undermine safety of lives, investments and properties in the country. The ...

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Commercial airlines record more fatalities

Commercial airlines record more fatalities

Nigerian carriers still safer The fatality rate on passenger jets worldwide, jumped in 2018, after airlines recorded zero accident deaths on commercial planes in the prior year, according to an annual report. Dutch aviation consulting firm, To70, and the Aviation ...

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Cheque transactions fall 5% as BVN-linked accounts hit 36m

Cheque transactions fall 5% as BVN-linked accounts hit 36m

•PoS deals rise by 39.2% Transactions carried out through cheques fell by 5.02 per cent in 2018, against 2017 levels, indicating that more customers are embracing other payment alternatives, especially electronic. Statistics obtained from the Nigerian Interbank Settlement System (NIBSS), showed ...

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Auto policy review, ports access roads top expectations in 2019

Auto policy review, ports access roads top expectations in 2019

As the clock ticks into the year 2019, stakeholders in the shipping indusexpressed and hope for a better operating environment. They seek workable policies such as the review of the Auto policy, guaranteed security architecture and infrastructure facelift to aid ...

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Infrastructure critical to ending gas flaring, says Kachikwu

Infrastructure critical to ending gas flaring, says Kachikwu

Although Nigeria has set a target of ending gas flaring by 2020, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, said the country’s infrastructure gap remain a critical challenge to government’s gas commercialisation agenda. Kachikwu, who told The Guardian in ...

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BUA Group intensifies moves to reverse sugar importation

BUA Group intensifies moves to reverse sugar importation

…laments $3b yearly expenses on imported steel Citing the need to address dependence on importation of commodities that can be produced locally, the Chairman and Group CEO of BUA Group, Abdul samad Rabiu has restated the firm’s resolve to bridge ...

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Sell pressure propels bearish sentiment as investors lose N261b

Sell pressure propels bearish sentiment as investors lose N261b

Massive sell-off hit the nation’s stock market yesterday, as volatility worsened ahead of the 2019 polls causing investors’ wealth to depreciate further by  N261 billion. At close of trading Wednesday, the All Share Index (ASI), nose-dived by 699.35 absolute points ...

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Lagos Govt’s Wharf Landing Fee Is A Fraud – Dr. Musa

Lagos Govt's Wharf Landing Fee Is A Fraud – Dr. Musa

By Kenneth Jukpor A Lagos State gubernatorial candidate in the 2019 general elections, Dr. Segun Musa has described the collection of Wharf Landing Fees by the Lagos State Government as a fraud that should be stopped immediately. Dr. Musa made ...

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FIRS hits N5.2 trillion tax revenue, gets N8tr target in 2019

FIRS hits N5.2 trillion tax revenue, gets N8tr target in 2019

• Stamp duty collections accumulate billions under locks The Federal Inland Revenue Service has recorded an all-time high tax revenue collection of N5.23 trillion in 2018, with Value Added Tax (VAT) at N1.11 trillion for the first time. Prior to ...

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BUA Cement capacity in Sokoto to hit 4.5 million tonnes

BUA Cement capacity in Sokoto to hit 4.5 million tonnes

BUA Group has announced that it has signed another contract with cement manufacturing company, CBMI, for the construction of a new three million metric tonnes per annum Kalambaina Cement Line 2 in Sokoto State, North West Nigeria. This comes barely ...

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Jim Yong Kim resigns as World Bank President

Jim Yong Kim resigns as World Bank President

World Bank President Jim Yong Kim has resigned, more than three years before his term ends in 2022, the multilateral lender disclosed yesterday. Kim is expected to leave office on February 1. Kim, 59, said that he will immediately join ...

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Market capitalisation drops further by N89b in bearish trading

Market capitalisation drops further by N89b in bearish trading

The Nigerian Stock Exchange (NSE) yesterday commenced the second trading week of the year, on a downward note, occasioned by price losses in highly capitalised stocks, causing market capitalisation to depreciate further by N89 billion. Yesterday, the All share index ...

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Customs seizes contraband worth N61.5 billion

Customs seizes contraband worth N61.5 billion

Nigeria Customs Service (NCS), recorded 5,235 seizures with Duty Paid Value (DPV) of about N61.5 billion in 2018. The Comptroller-General of Customs, Hameed Ibrahim Ali, who disclosed this in a statement at the weekend, said although smuggling remained a challenge, ...

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Allianz to become worldwide IOC partner

Allianz to become worldwide IOC partner

The International Olympic Committee (IOC) and Allianz, a global insurance group, have announced that the insurer will join the “Worldwide Olympic Partner” (TOP) programme from 2021 to 2028. In July 2018, Nigerian insurer, Ensure Insurance, was acquired by the Allianz Group ...

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SERAP demands names of fraudulent power projects contractors

SERAP demands names of fraudulent power projects contractors

Minister of Power, Works and Housing, Babatunde Fashola, has been asked to provide the names and details of contractors that allegedly collected money for electricity projects but failed to execute them, from 1999 to 2018. The Socio-Economic Rights and Accountability ...

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