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Nigeria Breweries suffers N70bn FX loss
Business featured

Nigerian Breweries issues commercial paper of N25bn

Nigerian Breweries Plc has disclosed a proposal to raise N25bn through the sale of commercial paper to support the company’s short-term working capital and other finance needs according to a regulatory filing acquired by The Punch In a report titled “Series 4, 5 And 6 Of The Commercial Paper Programme” and signed by the Company’s […]

Policy and Regulations

NAFDAC announces ban, phase-out, reclassification of pesticides

The National Agency for Food Drug Law Administration and Control have announced the ban, phase-out and re-classification of pesticides within the country.   In a press release issued on Wednesday, the Director-General, NAFDAC, Prof. Mojisola Christianah Adeyeye, made the announcement.   Recall that, NAFDAC just recently placed a ban on the popular noodle brand, Indomie, […]

Naira and Dollar displayed
Business

Naira drops N462 against dollar at official market

The Naira-to-US Dollar exchange rate at the Investors and Exporters window decreased to N462.33 per dollar on Tuesday which represents a 0.14 per cent drop from the previous trading session’s closing rate of N463 per one dollar. This information was reported in Nairametric’s daily currency update, which was compiled from FMDQ Exchange. According to the […]

Wema Bank issues N25b bond to investors
Banking

Wema Bank’s best yet to come at 78 – MD

By Wilson Adekumola   One of the thriving commercial banks in Nigeria, Wema Bank, marked 78 years in the banking industry, saying that their best is yet to come.   According to Vanguard, the event took place in Lagos in Tuesday.   While speaking at the event, Managing Director/Chief Executive Director, Wema Bank, Mr. Moruf […]

FG relocates FAAN headquarters from Abuja to Lagos
Aviation

FAAN serves airport illegal occupant vacate order

All unauthorized inhabitants of airport grounds have been warned by the Federal Airports Authority of Nigeria to leave the area for their own safety and security. The operations of Lagos State’s Murtala Muhammed International Airport, according to a statement released on Tuesday by the General Manager of Corporate Affairs Faithful Hope-Ivbaze, are at risk due to […]

Naira scarcity: Hardship vital for economy, says finance minister
Business

Private groups reject FG’s excise tax hike

A group of Nigerian business organizations called the Organised Private Sector, has rejected the recently announced increase in excise tax by the federal government. The group includes, the Manufacturers Association of Nigeria, the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, the Nigeria Employers’ Consultative Association, the Nigerian Association of Small Scale Industries, […]

NGX board members
Business

NGX loses N58bn after seven-day rally

The Nigerian Exchange Limited’s market capitalisation dropped by N58 billion on Tuesday, bringing it to N28.475tn and ending a seven-day rally. According to The Punch, the NGX’s All-Share Index also fell by 107.03 points to 52,296.48 due to a sell-off in several shares. In total, 550,293,697 million shares worth N5.150bn were traded in 6,250 deals. […]

Ford set to reduce electric Mustang Mach-E price
Business

Ford set to reduce electric Mustang Mach-E price

Ford has announced that it will reduce the cost of its Mustang Mach-E by a range of $1,000 to $4,000. The reductions will result in the vehicle’s starting price falling between $42,995 and $59,995. According to CNBC, the reductions represent the most recent price adjustments to the EV sector after many price changes for Tesla vehicles this year. The […]

Bubari re-appoints Dabiri-Erewa as NIDCOM chairman
Appointments

Buhari re-appoints Dabiri-Erewa as NIDCOM chairman

Juliet Buna The President Major General Muhammadu Buhari (retd.), has reappointed Abike Dabiri-Erewa for a second term as the Chairman of Nigerians in Diaspora Commission. According to Channels Tv, her reappointment was announced in a letter from the President to the Senate, in which he asked the Senate to confirm her reappointment. In November 2018, […]

Benue ethanol company establishes pollution treatment facility
News

Benue ethanol company establishes pollution treatment facility

A cutting-edge Effluent Treatment Plant has been erected by Pure Biotech Company Limited, an ethanol company, to stop wastewater contamination of the Benue River from happening again. The News Agency of Nigeria stated that this was said by the company’s manager of corporate communications and public relations, Mr. Stephen Numbeve, in an interview. He claimed that the organization […]

NCC commences 600 youths ICT training
News

NCC commences 600 youths ICT training

The Nigerian Communications Commission has started nationwide ICT training for a new group of 600 youths to prepare them for the modern digital age. The News Agency of Nigeria reported that this information was found in a statement that the NCC released and made available to journalists on Tuesday in Ibadan. The two-week training is set […]

Power generation dropped 43mw after worker's strike - FG
Business

Nigeria army owes Kaduna distribution company huge debt – KAEDCO

The Kebbi state branch office of Kaduna Electricity Distribution Company revealed that the Nigeria Army Barracks, Birnin Kebbi owes the firm a huge amount that has yet to be settled. The Sun reports that the company also denied rumours that their Birnin Kebbi workers had disconnected the army barracks in Birnin Kebbi, which provoked the […]

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