Economy
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DMO lists N250bn Sukuk on NGX
The Debt Management Office (DMO) has listed the N250billion,10-year 13% Ijarah Sovereign Sukuk due 2031, on Nigerian Exchange Limited (NGX). The Ijarah Sovereign Sukuk was successfully listed on NGX, having fulfilled the conditions set by the Financial Regulatory Advisory Council of Experts (FRACE) of the Central Bank of Nigeria (CBN), which stipulated that trading in the instrument would only be…
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Senate appeals for more support on AMCON recovery drive
The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, has reiterated the willingness of the National Assembly to continually support the debt recovery efforts of Asset Management Corporation of Nigeria (AMCON). He said the support has become critical because AMCON remains a strategic national institution that plays important, and pivotal role in helping to stabilise…
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ID Africa’s Iretomiwa Akintunde-Johnson to speak at women in PR Ghana summit
Iretomiwa Akintunde-Johnson, Lead PR and Communications Adviser at ID Africa, will speak at the sixth edition of the Women in PR Ghana Summit scheduled to hold on July 8 and 9, 2022, in Accra, Ghana. The two-day summit themed ‘PR Women as Change Agents in the Competitive Corporate World’ will have some of the continent’s top PR professionals from Ghana,…
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FIRS extends company income tax returns due date to August 31
The Federal Inland Revenue Service (FIRS) has extended the deadline for the filing of Companies Income Tax Returns for the 2022 Year of Assessment, due on 30th June 2022 to 31st August 2022. This was contained in a statement issued by FIRS and signed by the tax authority’s Executive Chairman, Muhammad Nami. According to him, the decision was taken after…
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Debt Profile: Revenue generation is Nigerian govt’s main challenge – DMO
The Debt Management Office (DMO) says revenue generation is a major constraint of the Federal Government and impacts the country’s debt situation negatively. Director-General of the DMO, Patience Oniha, said this in a telephone interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. According to Ms Oniha, the systemic resource mobilisation has been compounded by recent economic…
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NPA seeks out-of-court settlement on Calabar port dredging
The Nigeria Port Authority (NPA) says it is seeking out-of-court settlement over the dispute involving Calabar Port dredging. Managing Director of NPA, Mohammed Bello-Koko said this when he visited Calabar Port complex on Saturday. According to him, the dispute was responsible for the delay in dredging the port. “The contract for the dredging of the Calabar channel was awarded many…
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Investors trade N485.4bn worth of equities in Q2
Both local and foreign investors on the Nigerian Exchange Limited (NGX) traded N485.4billion worth of equities in the second quarter (Q2) of 2022. This is an increase of 40.11per cent when compared to N346.43 billion traded in the first quarter (Q1) of 2022. A data by the bourse noted that the growth in value of equities market traded also reflected…
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Buhari welcomes first ship at Lekki Deep Sea port
President Muhammadu Buhari has congratulated the Federal Ministry of Transportation and the Nigerian Ports Authority on the successful berthing of the first ship at Lekki Deep Sea port. The vessel, ZHEN HUA 28, delivered three Ship to Shores and 10 Rubber Tyre Gantries cranes that will help in the evacuation of cargoes from vessels to the shore. The president expressed…
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First vessel berths at Lekki deep seaport
Three Ship-to-Shore cranes and 10 Rubber-Tyred Gantries critical to the beginning of operations of the Lekki Deep Seaport arrived in Nigeria on Friday, the News Agency of Nigeria (NAN) reports. Their arrival, according to the Managing Director of the Nigerian Ports Authority (NPA), Mohammed Bello-Koko, represents a major step toward birthing Nigeria’s first deep seaport. “It also demonstrates our readiness…
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Banks, telecoms, power sectors get $1bn UK investment
The British International Investment (BII), the UK Government’s Development Finance Institution (DFI), is investing $1 billion in Nigerian banks, infrastructure and power in the next five years. Chief Executive Officer, British International Investment, Nick O’Donohoe, made this known at a briefing in Lagos on Thursday. He said the BII has invested $100 million in FirstBank; $75 million in Stanbic IBTC;…
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