Friday, March 22, 2019
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    CLOSE-UP: Adeboye, daughter of Nigeria’s pioneer industrialist, shatters the ceiling at Cadbury

CLOSE-UP: Adeboye, daughter of Nigeria’s pioneer industrialist, shatters the ceiling at Cadbury

You don't become the first female managing director of a topmost, 54-year-old company in Nigeria if you have not paid your dues -- perhaps even in excess. Oyeyimika Adeboye was on Thursday announced as the new managing director of Cadbury Nigeria Plc, whose appointment "is part of our commitment to promoting gender equality, diversity and inclusion", according to the confectionery giant.Her [...]

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    Cadbury Nigeria gets female MD — first time ever

Cadbury Nigeria gets female MD — first time ever

Cadbury Nigeria Plc has appointed Oyeyimika Adeboye as its first female managing director since the company was established in 1965.According to a notice posted on the Nigeria Stock Exchange (NSE) on Thursday, Adeboye's appointment is effective from April 1.She takes over from Amir Shamsi, who moves on to a new role within Mondelēz International, the parent company of Cadbury Nigeria.Commenting [...]

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    INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

INTERVIEW: Petro-App will expose sharp practices in oil sector, says Axiom Tech MD

Andre Bassey, managing director of Axiom Tech Ltd, brands himself as a young and vibrant techpreneur who has a passion for creating solutions to real-life business problems.Having spent almost a decade in the downstream sector of Nigeria’s oil and gas industry, he discovered that the marketing and transportation of petroleum products needed more "structure and order” and sought a [...]

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    Access Bank issues Africa’s first corporate green bond

Access Bank issues Africa’s first corporate green bond

Access Bank Plc has issued a five-year fixed rate senior unsecured green bond to the tune of N15 billion making it the first corporate green bond to be issued in Africa.The bond offer, which was achieved by a bookbuild and was fully subscribed, was priced at 15.5% with participation from asset managers and pension fund administrators.The bond has already been [...]

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    Presidency: Trader Moni still on, to reach 10 million petty traders

Presidency: Trader Moni still on, to reach 10 million petty traders

The presidency has said Trader Moni, a scheme to provide small funds for petty traders in Nigeria, is still on, and would reach 10 million petty traders in the country.Laolu Akande, a senior special assistant to Vice-President Yemi Osinbajo, made this disclosure late Wednesday, saying the government has continued giving the loans since the All Progressives Congress (APC) won the [...]

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    Ahmed Kuru: We need failed bank act to discipline bankers

Ahmed Kuru: We need failed bank act to discipline bankers

Ahmed Kuru, managing director of the Assets Management Corporation of Nigeria (AMCON), says the failed bank act needs to be re-introduced to check the resurgence of toxic loans in the banking system.In his comments whole receiving officials of the Risk Management Association of Nigeria (RIMAN) at the AMCON office in Lagos, Kuru said there is a need for bankers to [...]

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    FIRS: No plan to increase VAT to 50 percent

FIRS: No plan to increase VAT to 50 percent

The Federal Inland Revenue Service (FIRS) says it has no plans to increase the rate of value added tax (VAT) from 5 percent to 50 percent.The tax administration agency was reacting to reports that Babatunde Fowler, its chairman, had proposed that VAT increase to 50 percent.Fowler allegedly made the recommendation during a session with members of the senate finance [...]

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    Merger: NSE places Diamond Bank shares on full suspension

Merger: NSE places Diamond Bank shares on full suspension

Trading in the shares of Diamond Bank Plc has been placed on full suspension following a court-sanctioned scheme of merger with Access Bank Plc.In a notification to its dealing members on Wednesday, the Nigerian Stock Exchange said that the full suspension takes effect from March 20.“Dealing members are hereby notified that following the court sanction of the Scheme of Merger [...]

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    Prices of goods, services may rise as FG considers 50% increase in VAT

Prices of goods, services may rise as FG considers 50% increase in VAT

The prices of goods and services may increase if plans by the Federal Inland Revenue Service (FIRS) to increase value-added taxes by 35% or 50% are approved.Speaking on Tuesday when he appeared before the senate committee on finance in Abuja to give details of the 2019-2021 medium-term expenditure framework and fiscal strategy paper, Babatunde Fowler, FIRS chairman, said Nigerians should [...]

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    Auditor-general: Citizens are unaware of the importance of audit institutions

Auditor-general: Citizens are unaware of the importance of audit institutions

Anthony Ayine, the auditor-general of the federation, says citizens do not understand the importance of supreme audit institutions (SAI), especially in developing countries.While presenting a paper at the ninth edition of the just concluded International Public Sector Conference, Ayine attributed this problem to years of weak auditing.The conference, which held in Prague, Czech Republic was organised by the Association of [...]

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Exchange Rates

March 22, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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