ASSETS & FINANCIALS

 The Chairman of Heirs Holdings, Mr. Tony Elumelu has highlighted the opportunities Africa offers and urged stronger business relationships between France and Africa.He also called for deepening of commercial relationships based on mutual respect and interest between African economies and …

 The Manufacturers Association of Nigeria, the Lagos Chamber of Commerce and Industry, the Abuja Chamber of Commerce and Industry and other organised private sectors on Thursday called on the Federal Government to drastically slash interest rate in order to stimulate …

 The President of the Nigeria Labour Congress, Ayuba Wabba, has said that the Pension Fund is under threat from the government and employers of labour in the country. He said that monies deducted from the salaries of workers were not …

 The National Bureau of Statistics on Wednesday said the country’s unemployment rate has risen from 12.1 per cent in the first quarter of this year to 13.3 per cent as at the end of the second quarter. The bureau stated …

 The Central Bank of Nigeria on Wednesday said it had readmitted to the foreign exchange market banks that were suspended last week for non-remittance of $2.12bn belonging to the Nigerian National Petroleum Corporation. They are FirstBank of Nigeria ($469m); Diamond …

 Dreams of lower construction costs by prospective homeowners might have become a nightmare, going by fresh increase in the price of cement products by manufacturers. The development has already triggered a ripple effect in the open market, with prices going …

 The National Pension Commission on Tuesday said it was engaging the Economic and Financial Crimes Commission to prosecute individuals and companies that had yet to remit the pensions of their employees that were deducted at source. It said the leaderships …

 The Central Bank of Nigeria on Tuesday said it had approved the licences of eleven international money transfer operators to do business in Nigeria. The apex bank in a statement signed by the acting Director, Corporate Communications Department, Mr. Isaac …

 The naira plunged to 418 against the dollar at the parallel market on Tuesday as scarcity of foreign exchange continued to weigh on the official interbank and black market. The local currency, which closed at 414 against the greenback on …

 The African Insurance Organisation [AIO], at its just-concluded 43rd yearly conference held in Marrakech, Kingdom of Morocco, has affirmed that Nigeria and nine others accounted for over 92 per cent of written insurance premium in Africa. Other observations in the …

 The founder of the Centre for Value in Leadership, Prof. Pat Utomi, has said the current financial crisis in Nigeria should offer a ‘golden’ opportunity for the country to fix its economy permanently . He also said that a continuous …

 The nation’s foreign exchange reserves have increased by $595m to hit a one-month high of $26.196bn, the latest data from the Central Bank of Nigeria have shown. This came on Monday just as the naira traded around 412- 413 against …

 The Lagos Chamber of Commerce and Industry has faulted the allocation of 60 per cent foreign exchange to the manufacturing sector, describing it as one of the policy inconsistencies of the government making it difficult to regain the confidence of …

 Investors in the country’s capital market are optimistic that the next Treasury bill auction slated for this week will boost activities in the fixed income market. Expectedly, there were no significant movements in liquidity level last week, given the absence …

 A steady decline in the traditional cheque transaction may push the growth of mobile money in the country, a new report has shown as captured by media. There have been general declines in monthly cheque transactions in the country since …

 The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressure in the forex market this week. The development …

 The Body of Banks’ Chief Executive Officers on Thursday met in Lagos to review the current developments in the industry, especially issues around the ban imposed on nine commercial banks by the Central Bank of Nigeria (CBN), barring them from participating …

 Industry players have projected that Nigeria would lose another 25 per cent of licensed operators if the Communication Service Tax bill is passed into law. Already, the country has lost 57 per cent of licensed operators to multiple taxations. The …

 The second over-the-counter foreign exchange futures contract (NGUS AUG 24 2016) with notional amount of $152.48m at $/N310, matured and was settled on the FMDQ platform. This development, FMDQ explained in a statement on Thursday, was in line with the …

 The Federal Executive Council on Wednesday approved the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2017 to 2019, thus kick-starting the preparation of the 2017 budget. The approval was given at a meeting of the council presided over …