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Business

CBN waives requirement for COVID-19 loan

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The Central Bank of Nigeria (CBN) has waived the requirement for the provision of guarantors by Households and Small and Medium Scale Enterprises (SMEs) applying for its N50 billion COVID-19 Targeted Credit Facility.The apex bank made this  k...Read more

BUA Cement revenue up 25.1%

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BUA Cement Plc yesterday announced a 25.1 percent increase, amounting to N54 billion in revenue for the first quarter ended March 31, 2020.An analysis of the firm’s results showed BUA Cement’s profit before tax (PBT) increased by 15.7 ...Read more

Operator lauds govt on A’Ibom Deep seaport

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Chairman/Chief Executive Officer (CEO), CLEDD Nigeria Limited, a maritime sector logistics operator, Chief Charles Ukoette, has commended the Federal and Akwa Ibom State governments for driving the Ibom Deep Water Port (IDWP).This followed the Fed...Read more

Olam to produce 240,000MT of rice

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To save Nigeria from the effects of a post-COVID-19 food crisis, Olam Nigeria has expressed its commitment  to make the country the agricultural hub on the  continent.It added that it would produce a total of 240,000 metric tons (Mt) of ...Read more

UPDC lists N16b rights issue on NSE

 2371     2024

UACN Property Development Company (UPDC) Plc has listed its N16 billion rights issue at the Nigerian Stock Exchange (NSE).UPDC had recorded full subscription to its N16 billion rights issue. The company had offered 15.96 billion ordinary shares of...Read more

May & Baker pays N431.31m to shareholders as net profit doubles

 2265     1954

Shareholders of May & Baker Nigeria Plc at the weekend received a total of N431.31 million as cash dividends for the 2019 business year. The distribution followed approval of a 25 per cent increase in dividend payout by shareholders at the ann...Read more

Investors scramble for big banks in N23.55b equities deals

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Investors increased their stakes on Nigerian equities by 74.45 per cent with nearly one-thirds of the transactions on three of Nigeria’s largest banks.Investors staked N23.55 billion on quoted equities at the Nigerian Stock Exchange (NSE) la...Read more

Global securities exchange chiefs review market

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Leaders of major securities exchanges and capital market groups will this Wednesday brainstorm on the impact of COVID-19 on the global capital market.The Nigerian Stock Exchange (NSE) is hosting the special webinar on the impact of COVID-19 on the...Read more

‘How COVID-19 is affecting financial inclusion’

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President, Consumer Awareness and Financial Enlightenment Initiative (CAFEi), Mrs ‘Debola Osibogun, has said coronavirus (COVID-19) affect the financial literacy and financial inclusion.In a statement, she said the pandemic is generating an ...Read more

Doubble.Ng offers option for ‘100% investment income’

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Sterling Bank Plc has offered a safe option for investments in its Doubble.Ng product to those seeking double-digit investment income and safety in this period of heightened market volatility and unpredictable macro-economic environment.Doubble.Ng...Read more

World Bank: Virus pandemic impact reducing

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The World Bank has advised developing countries and the international community to take steps to speed up recovery as the worst of the Coronavirus (COVID-19) crisis and blunt long-term adverse effects passed.It admitted that the coronavirus (COVID...Read more

‘Conceive an economy without oil revenue’

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Oil price is one of the most difficult variables to predict. No analyst foresaw the current plunge. There are too many inponderables around oil price. This is the reason it is not good for an economy to be too dependent on primary commodities.&nbs...Read more

LCCI, MAN praise CBN on bailout funds

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Manufacturers have praised efforts of the Central Bank of Nigeria (CBN) on the planned disbursement of N93.2 billion out of N1 trillion intervention fund targeted at manufacturing and agribusiness sectors for economic recovery, post COVID-19.Direc...Read more

Employment in Nigeria decreased marginally – PMI Report

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About 98 percent companies in Nigeria kept their workforce despite the negative impacts of coronavirus on business,the Nigeria Purchasing Managers’ Index (PMI) report has revealed.As a result, employment in Nigeria decreased marginally despi...Read more

External reserves now $36.57 billion

 2325     1944

Nigeria’s external reserves now stand at $36.57 billion, having increased sharply from $33.42 billion as of April 29, 2020.This development has given the Central Bank of Nigeria the fire power to defend the Naira exchange rate as promised by...Read more

Constitute Amotekun corps now, Oyo Assembly tells governor

 2303     1858

The Oyo State House of Assembly yesterday urged Governor Seyi Makinde to urgently constitute the Amotekun Corps, the state security agency network, to stem insecurity in the state. The House emphasised that the call became imperative to c...Read more

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