Category: Business

Nov 03
Leverage N75bn youth investment fund, minister urges youths

Minister of State, Federal Capital Territory (FCT), Ramatu Aliyu, has charged the youth to leverage the N75 billion Nigerian Youth Investment Fund ( NYIF) the Federal Government has introduced to empower them economically. Aliyu made the call at the maiden edition of NYIF celebration in Abuja. She identified poverty and unemployment as factors that drive […]

Nov 03
Over 1 million Youths apply for N75bn Youths Development Funds – FG

President Muhammadu Buhari Sunday in Abuja announced that over one million applications have already been received since the Youth Investment Fund Portal went live on 12th of October 2020. This is as the appealed to Nigerian youths to end street protests and participate in meaningful discussions with government aimed at comprehensive reforms to end all […]

Nov 03
No rift in Jaiz Bank over succession plan

Jaiz Bank, at the weekend assured its Customers, Shareholders, investing public and other stakeholders of commitment to continue to conduct its affairs within the stipulations of existing Corporate Governance Codes for banks and public companies in Nigeria. The bank, particularly dispelled rumor of rift in its board over appointment of Managing Director, saying the subsisting […]

Nov 02
EFCC invites Fowler over N100bn tax evasion fraud in Alpha Beta

The Economic and Financial Crimes Commission (EFCC) is reportedly interrogating a former chairman of the Federal Inland Revenue Service (FIRS) over the N100 billion tax evasion allegations against Apha Beta Consulting. The crime is said to have been committed when Folwer was the chief executive officer of the Lagos State Internal Revenue Service (LIRS).

Nov 02
Reps order suspension of airport concession

The House of Representatives has directed the federal government to suspend plans to concession four international airports in the country, pending the resolution of all contentious issues. The chairman, House Committee on Aviation, Nnolim Nnaji, gave the directive, on Monday, at a meeting between the committee and officials of the Federal Ministry of Aviation. Nnaji […]

Sep 11
vNigeria’s capital market regulator outlines 5-point agenda to boost investor confidence

To better position Nigeria’s capital market and restore investor confidence, the Securities and Exchange Commission (SEC) said it has rolled out a five-point agenda. Lamido Yuguda, director general of the SEC, made this known on Thursday at a fireside chat during the 8th edition of BusinessDay’s Investing and Capital Market conference. “We have identified as […]

Sep 11
How we are solving rising unclaimed dividend in Nigerian capital market – DG SEC

Harmonizing a single unique identity management system and updating the details of investors, are some of the elaborate ways the Nigerian capital market is solving the rising issue of unclaimed dividend, according to Lamido Yuguda, director-general of the Securities and Exchange Commission (SEC). This has meant the exchange, working for hand in gloves with the […]

Sep 08
Green Sahara farm to invest N250m for agricultural production in Nasarawa

The Green Sahara Farms (GFS) says that it has concluded plans to facilitate a N250 million investment in agriculture that would boost agricultural production in Nasarawa State. The Managing Director of the farm, Suleiman Dikwa disclosed this while opening up a Rural Regeneration and Enhancement (RERE) aggregation centre in Keana Local Government of the state. […]

Sep 07
Nasarawa to begin audit of local governments’ financial accounts

Giving the disturbing financial position of Local Government Council’s, the Nasarawa State Government says it would soon conduct a forensic audit and verification exercise of all the 13 Local Government Areas of the State. The State Commissioner for Local Government, Rural Development, and Chieftaincy Affairs, Yusuf Sarki who gave the hint in a chat with […]

Sep 07
Mixed sentiment to trail Nigeria stocks this week

As investors prepare for trading in this new week, some will be taking position in banking stocks to qualify for interim dividend payments while other speculative investors will move to the Nigerian Bourse to take profit leveraging recent gains. Nigeria’s stocks booked over N155billion gain last week amid renewed interest in the local bourse, despite […]

Sep 04
Stanbic IBTC to pay N4.2bn as interim dividend amid N45.20bn profit

Stanbic IBTC Holdings Plc has released its consolidated and separate interim financial statements for the period ended June 30, 2020. The results on the Nigerian Stock Exchange (NSE) show group’s gross earnings in H1’20 increased by 7.83 percent to N126.57billion from N117.37billion in H1’19. Profit before tax (PBT) increased by 17.37percent to N52.40billion from N44.65billion […]

Sep 04
Nigeria stocks climb further

Nigeria equities rose further on Wednesday, September 2 as the nearly relentless rally in banking stocks continued to support an upward trend despite pockets of profit-taking activities. Investors were upbeat to qualify for 40kobo interim dividend by Stanbic IBTC Holdings, while shares of UBA Plc which declared 17kobo interim dividend was weighed by profit-taking. At […]

Sep 04
FG to use BVN to pay stipends for 774,000 Jobs

The Federal Government has said that selected applicants for the 774, 000 job slots, under the Special Public Works Programme will be paid through their bank accounts, using their Bank Verification Numbers (BVN) . Minister of State for Labour and Employment Festus Keyamo said this on Thursday during a press briefing in Abuja, stressing that […]

Aug 17
Women account for highest unemployed Nigerians

The recently released report on unemployment in Nigeria by the National Bureau of Statistics (NBS) shows women are the worst hit with 12.2 million unemployed females and 9.5 million unemployed men. The number of persons in the labour force, people within ages 15 -64, who are able and willing to work was estimated to be […]

Aug 17
SPDC appeals asset sale judgment on controversial OML 11

Shell Petroleum Development Company (SPDC) has appealed the asset sale judgment by the Rivers State High Court which affirmed the enforcement of the purported sale of interests in SPDC’s JV’s assets in Kidney Island and specified interests in OML 11 to the Rivers State government. The Rivers State High Court had on Thursday delivered judgment […]

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