Nigeria has moved to rejoin the Egmont Group with the approval of the Federal Executive of the Action Plan on Money Laundering and Combating Financial Crimes. The approval was given at Wednesday’s meeting of the Federal Executive Council presided over by President Muhammadu Buhari. Attorney-General and Minister of Justice, Abubakar Malami, stated this while […]
Asian factories slow as China-U.S trade conflict intensifies
Manufacturing activities across Asia slowed in July, deepening concerns about the region’s economic outlook as an intensifying trade conflict between the United States and China sent shudders through their trading partners. A survey of purchasing managers released on Wednesday showed China’s manufacturing sector grew at its slowest pace in eight months in July, […]
Shell to make final investment call on Nigeria’s oilfield
Royal Dutch Shell and its partners will decide on whether to go ahead with the development of Nigeria’s Bonga Southwest offshore oilfield in 2019. The Managing Director of Shell Nigeria Exploration and Production Company, Mr Bayo Ojuli said that the project, one of the country’s largest with an expected production of 180,000 barrels per […]
CBN auctions Chinese currency
The Central Bank of Nigeria sold yuan at a range of 49-51 naira at its first auction of the Chinese currency- Yuan. The auction, which is part of an attempt to encourage the use of an alternative trading currency, particularly given the high level of imports from China, sold the yuan for […]
South African rand falls after China manufacturing growth declines
South Africa’s currency, Rand weakened on Tuesday, along with most emerging- market currencies, as slowing growth in Chinese manufacturing sector re-ignited fears about the impact of a trade dispute between China and the United States. The rand was 0.23 percent weaker at 13.1850 per dollar compared with a close of 13.1550 in […]
Eurozone economic growth slows as inflation accelerates
The European Union statistics office, Eurostat has shown that Eurozone economic growth slowed further while inflation rose in the second quarter. The Gross Domestic Product, GDP in the single currency area grew by 2.1 per cent for the three months to the end of June, down from 2.5 per cent and lower than […]
EU sanctions six Russian companies over Crimea bridge
The European Union has imposed asset freezes on six Russian firms for their involvement in the construction of a new road and rail bridge linking Russia to the annexed Crimean peninsula which the bloc says is illegal. The $3.6 billion bridge across the Kerch strait, part of which was unveiled by Russian President […]
Plateau state generates N6.27bn revenue in 6 months
The Plateau Government on Tuesday said that it generated N6.269 billion Internally Generated Revenue (IGR) between January and June this year. The Chairman, Plateau State Internal Revenue Service (PSIRS), Mr Dashe Arlat, who disclosed this in Jos Arlat said that revenue (N6.269billion) collected within the first half of the year was an increase […]
Stock market capitalisation gains 0.84%
The All Share Index and the market capitalisation of the Nigerian Stock Exchange gained 0.84 per cent on Monday, starting the week on a positive note. The All Share Index and the market capitalisation stood at 36,946.05 basis points and N13,384 trillion, gaining 309.08 basis points and N112 billion respectively. At the […]
36 finalists emerge in maiden MSMEs award
VP Osinbajo at an MSME Clinic recently 36 finalists have emerged in the maiden Micro, Small and Medium Enterprises, MSMEs, Award scheduled to hold on August 2 in Abuja. A statement signed by Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Laolu Akande, said the […]
Ministry of Finance to address issues with YouWin Connect
The Nigerian Ministry of Finance has promised to address grievances raised by participants in the YouWin! Connect Programme. This was the outcome of the meeting between officials of the Ministry and representatives of participants of the YouWin! Connect Capacity Building Programme, who came to seek further clarifications in respect of the […]
NSE lifts suspension on Universal Insurance
The Nigerian Stock Exchange has lifted the suspension placed on Universal Insurance Plc. The NSE in its market bulletin said the company had submitted its Audited Financial Statement for the year ended 31 December 2017. According to the exchange: “In view of the submission of its accounts and pursuant to Rule 3.3 […]
NBS releases Nigerian Gross Domestic Product Report 2017
The Nigerian Bureau of Statistics (NBS) has released Gross Domestic Product (GDP) Report for 2017. According to the NBS, in 2017, real GDP turned to positive growth in the second quarter and sustained its acceleration on a year-on-year basis, while annual real GDP growth rate in 2017 was recorded at 0.82%, signifying economic […]
Positive corporate earnings to lift equity trading
The release of more half year, H1’18, positive corporate results will spike trading on the Nigerian Stock Exchange, NSE, this week as equity trading drew to a positive close, finishing 58 bases points, bps, higher last weekend, majorly supported by oil and gas stocks. Meanwhile, analysts have listed FCMB Plc which […]
Pension fund assets hit N8.14trillion – PenCom
The National Pension Commission (PenCom) has said that the total pension fund assets stood at N8.14 trillion as at May, 2018. PenCom in a statement signed by its spokesman, Mr Peter Aghahowa, said the assets rose from N7.52 trillion in December 2017, to N8.14 trillion in May 2018. The commission said, ”the pension […]
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