The Chairman and Chief Executive Officer, Dangote Cement Plc, Aliko Dangote, says Bank of America Merrill Lynch and Standard Chartered Bank could be among the banks to organise the 2019 London public listing of Dangote Cement. Dangote, when asked by Reuters who the bankers could be for the Initial Public Offering, was quoted in part…
The Managing Director/Chief Executive, Bank of Industry (BoI), Mr. Olukayode Pitan yesterday disclosed that the sum of N2.8 billion had been disbursed to entrepreneurs in Kaduna State. He said over 280 small and medium scale enterprises (SMEs) and 20,550 MSMEs benefited from the intervention in the state. Speaking at the 20th edition of National Micro,…
The Federal Government realised N3.9tn in tax revenue between January and September this year and this is N1tn higher than the N2.9tn realised in the corresponding period of 2017. The Chairman, Federal Inland Revenue Service, Mr Tunde Fowler, disclosed this in a presentation made at the meeting of the African Union High Level Panel on…
J.P. Morgan is getting less optimistic about the trade conflict between the U.S. and China. The firm lowered its rating for Chinese equities to neutral from overweight, predicting the escalating trade war between the countries will affect China’s economy next year. As analyst, anticipate a negative 1 percentage point impact on China’s GDP growth from…
The Central Bank of Nigeria has asked the court not to grant an injunction that will stop the MTN Group from transferring the disputed $8.1bn back to the country, and wants the company to pay 15 per cent annualised interest on the sum until judgment is given, and 10 per cent from then until the…
As Green Bond issuance set to gain traction in the country, the Nigerian Stock Exchange (NSE) is proposing a set of rules that will guide the listing of those bonds on the exchange. Green bonds are special bonds issued to finance or re-finance in part or in full new and existing eligible environmental or climate…
Equities Market The Nigerian equities market continued on a downward slide at the end of the day’s trading activity, as both NSE ASI and market capitalization decreased by 0.09% respectively, as they both closed at 32,423.57points and N11,838tr respectively. Year-to-Date ASI is at a negative of 15.27%. Volume and Value of trades both increased by…
The pension sector no doubt, is one of the fast growing sectors of the economy since the introduction of the funded Contributory Pension Scheme (CPS) Indeed, with the quantum of assets accumulated by the sector, Nigeria has no doubt recorded significant success in the reformation of its pension sub. Aside the quantum of assets accumulated…
Though production level continued to grow as well as new orders, rising inventory as indicated by the Manufacturers Association of Nigeria (MAN), may be responsible for the slower movement of the nation’s Purchasing Managers’ Index (PMI) last month. According to the latest Central Bank of Nigeria (CBN’s) Manufacturing Purchasing Managers’ Index (PMI) report, September Manufacturing…
Russia and Saudi Arabia struck a private deal in September to raise oil output to cool rising prices and informed the United States before a meeting in Algiers with other producers, four sources familiar with the plan said. U.S. President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude…
