More than one year after ending the issuance of dividend warrants, the Securities and Exchange Commission, SEC, yesterday, announced reopening of the exercise to allow it address all outstanding issues. The Commission has therefore set a fresh deadline for discontinuation of issuance of physical dividend warrants at December 31, 2019. SEC had in December 31, […]
Month: March 2019
Congestion at Apapa port threatens N108bn cashew exports
Shipment of cashew nuts worth N108 billion ($300 million) have been trapped at the Apapa port in Lagos since January, exporters of the produce have said. Tola Fasheru, president of the Nigeria Cashew Exporters Association, told Bloomberg that gridlock and inefficiency at the Apapa port delayed shipment of up to 50,000 tonnes of cashew nuts […]
Do More enlightenment on micro pension plan – Labour leader Tells Pencom
The general secretary of the National Union of Textile, Garment & Tailoring Workers of Nigeria, Issa Aremu, has called for more awareness on the execution of the micro pension plan. He made the call on Friday following the launch of the plan by President Muhammadu Buhari in Abuja on Thursday. In a statement he personally […]
FG unveils pension plan for 80 million informal sector workers
President Muhammadu Buhari has unveiled a Micro Pension Plan for people operating in the informal sector of the economy, even as he promised to halt the rot in the nation’s pension system. The President, while unveiling the pension plan on Thursday in Abuja, noted that those in the informal sector needed to be captured in […]
Nigeria Immigration Service not recruiting – Comptroller General
The Nigeria Immigration Service (NIS) says it is not recruiting, contrary to information on “some fake dedicated website”. NIS Comptroller-General, Muhammad Babandede said this in a statement issued in Abuja on Thursday and signed by the Public Relations Officer of the Service, Sunday James. “The attention of the Comptroller General of Immigration, Mr Muhammad Babandede, […]
Nigeria: MOSOP Petitions Buhari, UNPO, EU Over OML 11
Movement for the Survival of the Ogoni People (MOSOP) has petitioned President Muhammadu Buhari over Federal Government’s planned resumption of oil production in Ogoniland. It said the purported move smacked of disdain and mockery of the Ogoni struggle against exploitation of international oil companies (IOCs) in the last three decades. MOSOP President, Legborsi Saro Pyagbara, […]
Trump calls for OPEC to boost oil production, says price too high
U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity. “Very important that OPEC increase the flow of Oil. World Markets are fragile, price of Oil getting too high. Thank you!” Trump wrote in a post on Twitter. […]
Interest rate cut threatens foreign portfolio investments – Analysts
Analysts have said the reduction of the Monetary Policy Rate, also known as benchmark interest rate, may dampen foreign investors in the nation’s stock market. The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday reduced the MPR from 14 per cent to 13.5 per cent. The MPR had been held at a […]
Nigerians spend N767.23bn on airtime in three months
Subscribers to mobile telecommunications services in Nigeria spent about N767.23bn on airtime purchase from November 2018 to January 2019, investigations have revealed. This figure is based on the number of subscribers in the three months under review, which was obtained from the Nigerian Communications Commission, and the industry’s Average Revenue Per User provided by network […]
CBN Moves to Reintroduce Cashless Policy Nationwide
The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has unveiled plan to extend the cashless policy nationwide almost two years after the policy was halted. Emefiele said all necessary structures have been put in place to improve banking services in the country. He made this remark Wednesday during the First Bank of […]