Economy
-
Ibom Air apologises over anti-Tinubu person on flight
Ibom Air has apologised over the display of an anti-Tinubu passenger on its Abuja to Lagos flight on Friday. In a statement by its Group Manager, Marketing and Communication, Aniekan Essienette the airline said the airline takes the safety of its passengers seriously. The statement reads: “A passenger stood up and began addressing other passengers in a manner considered inappropriate…
Read More » -
NGX ASI returns 5.81% In Q1 2023, turnover hits N265.48bn
As the market closed for the quarter on Friday, the All Share Index of the Nigerian Exchange Limited returned 5.81per cent for investors, consolidating gains made from the previous year. Within the period, the ASI rose from 51,251.06 basis points to 54,232.54 basis points. Market capitalisation of listed companies also closed higher at N2.54trillion. Despite the uncertainties posed by the…
Read More » -
Nigeria’s debt grows to N46.25trn In 2022, says DMO
Amid growing prices of food, poverty, and insecurity, Nigeria’s public debt stock grew to N46.25 trillion or $103.11 billion in 2022, plunging the country deeper into a debilitating debt trap following a borrowing spree undertaken by the outgoing Muhammadu Buhari’s administration. The Debt Management Office (DMO) in its latest report on the country’s debt overhang, states that the stock rose…
Read More » -
NDIC says depositors’ money safe in formal banking system
Nigeria Deposit Insurance Corporation (NDIC) has reiterated that depositors’ money kept in the banking sector is safe, stressing that such depositors also enjoy the benefit of effective regulation and supervision of relevant authorities. This was disclosed by the Managing Director/Chief Executive of NDIC, Bello Hassan on Thursday at the 34th Enugu International Trade Fair in Enugu State. He said: “Arising…
Read More » -
Sterling Bank requests for deadline extension on filing AFS
Sterling Bank Plc said it has submitted a request for a short extension outside the deadline for filing its Annual Financial Statements (AFS) for the year ended December 31st, 2022 with the Nigerian Exchange (NGX). The bank, in a statement issued in Lagos on Thursday and signed by Mr. Dapo Martins, Chief Marketing Officer, said the request for extension was…
Read More » -
Senate passes Investment and Securities Bill aims at reforming capital market
The nation’s capital market received a major boost on Wednesday as the Senate passed into law, the Investments and Securities Bill 2023. The Bill which is expected to aid the functioning of the capital market and facilitate the ongoing economic diversification in the country among others, had been passed by the House of Representatives last December. During plenary on Wednesday,…
Read More » -
Oando migrates from loss to N34.7bn profit in 2021 FY
Oando Plc has announced a N34.7billion profit after tax in its 2021 financial year compared to a loss after tax of N140.7billion in 2020 financial year. The indigenous petroleum company listed on the Nigerian Exchange Limited (NGX) announced 51 per cent turnover increase to N722.5 billion compared to N477.1 billion in the 2022 financial year. Revenue for the period was…
Read More » -
Only OMO, Sunlight, Lux going out of production, Unilever explains
Unilever Nigeria Plc says its exit from the home care and skin cleansing markets would only affect three brands, OMO, Sunlight and Lux. The company said the decision to stop the production of the three products was to accelerate the growth of the organisation and sustain profitability. Unilever Nigeria had earlier announced that it was restructuring its business model to…
Read More » -
NCC renews commitment to industry collaboration, inclusiveness
The Nigerian Communications Commission (NCC) has said it would continue to consult stakeholders on issues affecting telecommunication services deployments and developments, in line with its culture of inclusiveness, collaboration and partnership as predicated in its strategic focus. Executive Vice Chairman of the Commission (EVC), Professor Garba Danbatta, represented by Reuben Muoka, the Commission’s Director of Public Affairs, gave the assurance…
Read More » -
Average price of 1kg rice increased by 19.30% to N520.84 in February, says NBS
The National Bureau of Statistics (NBS) on Monday disclosed that the average price of 1kg of rice (locally sold loose) on a year-on-year (YoY) basis rose by 19.30per cent from N436.58 in February 2022 to N520.84 in February 2023. The bureau in its “selected food price watch” report revealed that on a month-on-month basis, the average price of rice increased…
Read More »
