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Business & Finance

NSE suspends trading on Skye Bank shares

The Nigerian Stock Exchange (NSE) on Friday officially notified the investing public that Skye Bank Plc shares would be suspended from trading on Sept. 24. The Exchange gave the notice in Lagos in a statement by Mr Olumide Orojimi, Head, Corporate Communications and Mr Godstime Iwenekhai Head, Listings Regulations. NSE said in the statement that the action was taken following ... Read More »

Osinbajo inaugurates TraderMoni in Owerri

Vice President Yemi Osinbajo will today (Saturday) inaugurate TraderMoni initiative, a Federal Government’s Social Investment Programme, in Owerri, Imo State. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, disclosed this in a statement on Friday in Abuja. The initiative was designed to assist petty traders across the country expand their trade ... Read More »

H1 2018: Rivers, Bayelsa, Lagos top investment destinations – NIPC

For the first six months of 2018, three states comprising of Rivers, Bayelsa and Lagos State   top list of foreign investment destination in Nigeria. A report put together by the Nigeria Investment Promotion Commission (NIPC) explained that Rivers State received 35% of the $45.74 billion invested in 42 projects in nine states and the Federal Capital Territory (FCT) during the period. ... Read More »

CBN revokes Skye Bank’s licence, names bridge bank Polaris

The Central Bank of Nigeria (CBN) has revoked the operating licence of Skye Bank Plc. However, depositors’ funds, according to the apex bank remain safe. Governor of the CBN, Godwin Emefile, who broke the news on Friday at a press conference in Lagos assured depositors of adequate protection for their funds. Accompanied by Nigeria Deposit Insurance Corporation (NDIC) Managing Director, ... Read More »

Adesina urges Canadian Business Community to invest in Africa

Akinwunmi Adesina, African Development Bank President, on Wednesday urged Canadian business leaders to “be part of the action and seize investment opportunities on the continent.” Adesina made the call while meeting with 80 leading representatives of the Canada-Africa Chamber of Commerce in Toronto. Promoting the Bank’s upcoming Africa Investment Forum, AIF, scheduled for November 7 – 9, in Johannesburg, South Africa, ... Read More »

NNPC scores 48% reduction in pipeline vandalism

The Nigerian National Petroleum Corporation (NNPC) says it has recorded a 48.21 per cent reduction in the rate of pipeline vandalism in the month of April 2018.   The corporation disclosed this in its monthly Financial Report, released in Abuja, on Thursday.   It said that vandalism fell to 166 from 224 vandalised points in the previous month.   According ... Read More »

NNPC records ₦17.16bn trading surplus, up 46%

The Nigerian National Petroleum Corporation (NNPC) has consolidated on its operational performance with a trading surplus of ₦17.16bn in the month of April, 2018. NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, who disclosed this in a statement, said this was part of the highlight of the corporation’s Monthly Financial and Operations Report for April, 2018. The ... Read More »

Tony Elumelu Foundation to launch world’s largest digital platform for African entrepreneurs  

  Africa’s leading entrepreneurship-focused philanthropy, The Tony Elumelu Foundation, is preparing to launch the world’s largest digital platform for African entrepreneurs and the African entrepreneurship ecosystem –  TEFConnect.   TEFConnect will officially be unveiled at this year’s TEF Forum, taking place on October 25, 2018, at the Federal Palace Hotel, Lagos, Nigeria.   Harnessing and building on the success of Africa’s ... Read More »

Ecobank will deliver customer-focused services – New MD

The new Managing Director and Regional Executive of Ecobank Nigeria, Patrick Akin Akinwuntan, has assured that he would deliver the brand promise of the bank as a leading financial institution in Nigeria. He gave the assurance as he assumed office on Wednesday. A press statement issued on behalf of Ecobank by APO GROUP, quotes the new Chief Executive Officer as ... Read More »