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Zimbabwe diamond company to lift output by 65% in 2018

  Zimbabwe state’s diamond company is expected to produce at least three million carats this year, up by 65 per cent from 1.8 million in 2017, the mines minister told parliament on Monday. Winston Chitando said the Zimbabwe Consolidated Diamond Company,...

France, Nigeria to improve trade relations in 2018

The French Ambassador to Nigeria, Ambassador Denys Gaver, on Monday said there were already positive indications that would attract more French investors and companies to Nigeria this year. Gaver said in Lagos especially now that the problem of foreign exchange...

MPC: Expert expects monetary policy easing signal in March

A financial expert, Dr Uche Uwaleke, on Monday predicted that the easing of the monetary policy by Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) might be from March. Uwaleke, the Head of Banking and Finance Department,...

Why Nigeria Commodity Exchange is dormant – Official

The Nigeria Commodity Exchange (NCX) said lack of sufficient funding and requisite support from the authorities are militating against the effort to achieve optimal performance of its statutory functions. Head, Corporate Communications and Strategy, Mr Chris Echikwu, gave the reasopn...

Edo Inland Container Dry Port to commence exports

The Edo Inland Container Dry Port (EDO-ICD) will soon commence export activities from operational base, an official of the port has said. The Chief Executive Officer of Atlanque Marine Engineering Service (AMES), Mr Charles Akhigbe, promoter of the Edo-ICD, announced...

Saraki tasks engineers on use of quality materials

  The President of the Senate, Dr Bukola Saraki, has called for the use of quality materials and qualified professionals in project execution by engineers to meet global standards. Saraki made the call on Saturday in Abuja at the investiture of...

Appeal Court upholds forfeiture order on Patience Jonathan’s $5.7m

The Court of Appeal in Lagos on Friday dismissed an appeal filed by the wife of former President Goodluck Jonathan, Patience, over the temporary forfeiture of her $5.7million. Jonathan had appealed a ruling by a Federal High Court in Lagos...

Fire razes 100 shops at Ibadan plank market

No fewer than 100 shops, equipment and goods worth millions of naira were on Friday razed by an inferno at a section of Sango Plank Market in Ibadan. TBI Africa reports that the market had witnessed many such disasters  in...

Flour Mills of Nigeria to start $130m share sale on Jan. 15 – Bourse

Flour Mills of Nigeria plans to start marketing a share sale to existing investors aimed at raising 39.86 billion Naira about 130 million dollars on January 15, the Bourse said on Friday. The flour and pasta maker will offer 1.47...

Lagos generates N503.7b in 2017 despite harsh economy

  Governor Akinwunmi Ambode of Lagos State on Thursday said the state generated a total of N503.7billion revenue in 2017 despite the harsh economic climate in the country. Ambode spoke at the state’s first quarter 2018 Town Hall Meeting in Ikeja....

AMAC Chairman budgets N6.9b for 2018

The Chairman Abuja Municipal Area Council (AMAC), Mr Abdullahi Candido, on Thursday presented N6.92 billion budget for 2018 fiscal year, representing an increase of 11.76 per cent from last year’s budget. Presenting the budget at the legislative chambers in Abuja,...

Financial inclusion: CBN sets fresh targets for banks

  Central Bank of Nigeria (CBN) has set state-by-state target for the 21 commercial banks and 942 Micro finance banks in the country to ensure that every Nigerian adult has access to financial services. Mrs Elizabeth Agu, the CBN Branch Controller,...

BDC operators list recipes for stronger naira

The Association of Bureaux De Change Operators of Nigeria (ABCON) on Wednesday listed recipes for a stronger naira and a more stable exchange rate in 2018. President of ABCON, Alhaji Aminu Gwadabe, said the recipes were agreed at a meeting...

Naira sells at N361.5 per Dollar at parallel market

The Naira was sold at N361.5 to the Dollar at the parallel market on Tuesday, The Pound Sterling and the Euro were also sold at N475 and N420 respectively. At the Bureau De Change (BDC) window, the Naira traded at...

Economist advises MPC to relax monetary policy in 2018

An economist, Prof. Sheriffdeen Tella, has advised the Monetary Policy Committee (MPC) of Central Bank of Nigeria (CBN) to relax the monetary policy by lowering bank lending rates in 2018. Tella, a Professor of Economics at Department of Economics, Olabisi...

Police, DSS arrest 4 persons for allegedly hawking, selling Naira

The Police and operatives of the Department of State Service (DSS) have arrested four persons including a woman for an alleged illegal sale of Nigerian currency (Naira) in Lagos State. The Police Public Relations Officer in the state, SP Chike...

Global Markets – Asian shares step back from 2007 peak

Asian shares flinched from testing their 2007 record peak on Wednesday as investors booked profits in high-tech shares while oil prices hit three-year highs due to production cuts and fall in inventories. MSCI’s broadest index of Asia-Pacific shares outside Japan...

7UP majority shareholder, Affelka, raises acquisition bid to N125

Seven UP Bottling Company (SBC) on Wednesday notified the Nigerian Stock Exchange (NSE) that its majority shareholder Affelka, of the upward review of the scheme consideration to N125 per share. The majority shareholders, in a memo to the exchange said...

Mixed reactions trail Vitafoam Nigeria declaration of dividend

Some capital market operators on Wednesday expressed mixed reactions to Vitafoam Nigeria Plc. declaration of dividends in spite posting loss for the financial year ended September 30, 2017. The company needed to map out strategies that would return it to...

N100b revenue shortfall: FG orders contractors to show TIN

The Federal Government has ordered vendors of Ministries, Departments and Agencies (MDAs) to display their Tax Identification Numbers (TINs) on their invoices before payments are made by the MDAs. The Federal Government’s directive was handed down to the Accountant-General of...

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Obasanjo successfully completes PhD programme at NOUN

Former President, Chief Olusegun Obasanjo, is among 14,771 persons expected to receive honours at the 7th convocation of the National Open University of Nigeria...