BUSINESS Archives — Page 67 of 206 — National Accord Newspaper

BUSINESS

Stock market rebounds with N114bn gain

Bode June 14, 2024

G The Nigerian equity market capitalisation rebounded by 0.20 per cent as investors’ appetite for Tier-one banking stocks increased. Notably, investors gained N114 billion or 0.20 per cent, with market capitalisation rising from N56.359 trillion to N56.473 trillion. The All-Share Index also closed 0.20 per cent or 202 points...

BUSINESS

AfDB appoints Lamin Barrow as DG for West Africa Region, approves $8.6m grant to boost non-oil revenue mobilization in South Sudan

Bode June 13, 2024

By MBAFAN ADE, Business Correspondent – The African Development Bank (AfDB) Group has appointed Lamin Barrow, an economist, as the Director-General for the West Africa Region, effective June 1, 2024. Barrow’s appointment came just as the Board of Directors of the AfDB approved a grant funding of $8.6 million...

BUSINESS

Nigeria’s crude oil production drops to 1.25mbpd in May — OPEC

Bode June 13, 2024

Nigeria’s crude oil production made a record decline to 1.25 million barrels per day in May 2024, according to the Organisation of Petroleum Exporting Countries. The OPEC monthly oil market report for June seen by Channels Television, puts the country’s average daily output 1.25 million barrels per day...

Vice President Kashim Shettima and the Managing Director/CEO of Zeberced Group Ltd, Adil Ayoin Kurt, during a tour of the company’s site at Idu, Abuja.

BUSINESS

Shettima lauds Zeberced Group over plans to create 40,000 jobs for Nigerians

Bode June 12, 2024

Vice President Kashim Shettima has commended Zeberced Group Ltd for its plan to create 40,000 jobs and develop the Abuja Industrial Park, among other projects in the FCT. The Vice President gave the commendation on Tuesday while undertaking a tour of the company’s site at Idu, Abuja. He...

BUSINESS

Diageo sells major shares in Guinness Nigeria to Tolaram

Bode June 11, 2024

Tolaram Africa, a consumer packaged goods company with about five-decade presence in Africa, has acquired a major stake in Guinness Nigeria. Updating the Nigerian Exchange Group of recent development within the bank, Diageo’s Company’s Secretary, Abidemi Ademola, said the terms of an agreement for the acquisition of the...

BUSINESS

NNPC, Golar sign agreement on floating LNG

Bode June 11, 2024

The Nigerian National Petroleum Company Limited (NNPC Ltd.) has executed a Project Development Agreement (PDA) with Golar LNG for the deployment of a Floating Liquefied Natural Gas (LNG) offshore Niger Delta, Nigeria. Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd. in a statement on Tuesday said the agreement was...

CBN to Nigerians: Your bank deposits are safe

BUSINESS

CBN to Nigerians: Your bank deposits are safe

Bode June 11, 2024

The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience. The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on Monday in Abuja. Sidi-Ali’s statement was...

BUSINESS

SMEDAN, Sterling Bank unveil N5bn loan for small businesses

Bode June 11, 2024

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with Sterling Bank Ltd., on Monday, unveiled five billion naira initiative-Databanc loan to address financial gaps for small businesses. The News Agency of Nigeria (NAN) reports that the initiative was launched in Lagos with the theme:...

NNPC Ltd dismisses report on alleged inflated subsidy claims

Bode June 10, 2024

By MBAFAN ADE, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd), has expressed dismay over a report in a section of the media alleging that it inflated subsidy claims by N3.3trillion. A statement issued in Abuja by the company’s Chief Corporate Communications Officer, Olufemi O. Soneye, state...

L-R Babalola Oyeleye, Chief Strategy & Innovation Officer, MTN Nigeria; Oby Ugboma, Chief Risk & Compliance Officer, MTN Nigeria; Tobe Okigbo, Chief Corporate Services & Sustainability Officer, MTN Nigeria; Ugonwa Nwoye, Chief Customer Relations Officer, MTN Nigeria; Onyinye Ikenna-Emeka, Chief Broadband Officer, MTN Nigeria and Mohammed Rufai, Chief Technical Officer, MTN Nigeria, during the ‘30 Days of Y'ello Care’ opening ceremony, held at the MTN Rooftop, Ikoyi, Lagos.

BUSINESS

MTN Nigeria begins 30 days of Y’ello care

Bode June 9, 2024

By OLA MODUPE, Lagos – Leading ICT company, MTN Nigeria has announced the 17th edition of its flagship employee volunteer initiative, Y’ello Care, where MTNers have the unique opportunity to contribute their resources – time, money and more – towards worthy causes. Themed “Learn Today, Lead Tomorrow”, this...

BUSINESS

Air Peace extends Lagos-London route availability until March 2025

Bode June 9, 2024

Air Peace has announced the extension of its schedule availability for the Lagos-London-Lagos route, with flights now bookable until March 2025. This is contained in a statement by a Senior Communications Officer of the airline, Mr Efeoghene Osifo-Whiskey on Saturday in Lagos. The airline stated that its London...

BUSINESS

Naira depreciates by 0.16% against dollar at official market

Bode June 8, 2024

The Naira on Friday recorded loss at the official market, trading at N1,483.99 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N2.50. This represents a 0.16 per...

BUSINESS

Cargo transport: Nigeria lost about N7bn to strike – Agents

Bode June 7, 2024

The Domestic Airports Cargo Agents Association (DACAA) has estimated that Nigeria lost about N7 billion during the two-day workers’ nationwide strike. The strike was embarked on by Nigerian workers under the auspices of the Nigeria Labour Congress and the Trade Union Congress on Monday and Tuesday. ...

BUSINESS

Suspension of $300 Helicopter Landing Levy right step — AON

Bode June 7, 2024

The Airline Operators of Nigeria (AON) on Thursday applauded the federal government’s suspension of the 300 dollars helicopter landing and take-off levy as a step in the right direction. The AON made this known in a statement signed by its Spokesperson, Prof. Obiora Okonkwo, in Lagos. ...

Eid el-Adha: Yobe microfinance bank unveils N150m ram loan

Bode June 6, 2024

Yobe Microfinance Bank says it has initiated a N150 million facility to enable its customers purchase animals for sacrifice during the Eid el-Adha celebration. The Managing Director/Chief Executive Officer (CEO) of the bank, Dr Sheriff Almuhajir, stated this in an interview with the News Agency of Nigeria (NAN),...

BUSINESS

Moniepoint relaunches banking referral programme

Bode June 6, 2024

Moniepoint MFB, an African financial institution, says it has relaunched its personal banking referral programme to enrich its customers. The Managing Director of Moniepoint MFB, Mr Babatunde Olofin, said this in a statement on Thursday in Lagos. Olofin said the referral programme was designed to reward users every...

BUSINESS

NETCO posts 137% increase in operating profit for 2023

Bode June 6, 2024

By MBAFAN ADE, Abuja – The NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), has announced a 137 per cent increase in operating profits for the year 2023. This was disclosed by the Chairman of the company’s Board of Directors...

BUSINESS

Heritage Bank customers throng headquarters for payment

Bode June 6, 2024

Customers of the liquidated Heritage Bank Plc gathered at the bank’s headquarters in Lagos on Wednesday, to seek clarification on the beginning of their deposit payments. A visit by a News Agency of Nigeria (NAN) correspondent on Wednesday revealed that security personnel stationed at the bank’s entrance prevented...

L-R: Mr Stanley Amuchie, Executive Director, Chief Operations and Information Officer, Fidelity Bank Plc, Mr Oladele Sotubo, MD/CEO Stanbic Capital, Dr Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc, Mr Mustafa Chike-Obi Chairman, Fidelity Bank Plc, Ms Ezinwa Unuigboje, Company Secretary, Fidelity Bank Plc, and Jubril Enakele, Chief Executive, Iron Global Markets Ltd., at the signing of the Fidelity Bank Public Offer and Rights Issue in Lagos

BUSINESS

Fidelity Bank concludes plans to raise N127.1bn

Bode June 6, 2024

Fidelity Bank Plc says it has concluded plans to raise N127.1 billion by way of rights issue to existing shareholders and a public offer, which is a combined subscription. The bank said this in a statement made available to newsmen on Wednesday in Lagos. It said that the combined...

BUSINESS

Heritage Bank: NDIC begins payment of depositors’ insured sum — MD

Bode June 5, 2024

The Nigeria Deposit Insurance Corporation (NDIC), has said it would begin payment of insured sum to 2.3 million depositors of Heritage Bank in-liquidation this week. The Managing Director of NDIC, Mr Bello Hassan, said this while briefing newsmen in Abuja on Wednesday. Hassan said the bank had preliminary deposits...