Tuesday, December 12, 2017
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    We know nothing about secret recruitment, says NPA

We know nothing about secret recruitment, says NPA

The Nigerian Ports Authority (NPA) has denied the report that it has embarked on secret recruitment.The agency said this in a statement which Abdullahi Goje, its spokesman, issued on Monday."The authority states that nothing could be farther from the truth as this process started over one year ago as evident in advertisements for recruitment placed in the November 11, 2016 [...]

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    You can now pay taxes on your mobile phone — the Fidelity route

You can now pay taxes on your mobile phone — the Fidelity route

With the aid of an unstructured supplementary service data (USSD) channel created by Fidelity Bank, residents of Lagos state can now pay taxes on their mobile phones.According to a statement by the bank, the *770# portal would aid efforts being made to increase internally generated revenue and improve challenges encountered with tax payments.Richard Madiebo, divisional head, retail banking, said the [...]

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    FG releases additional N750bn for capital projects

FG releases additional N750bn for capital projects

Kemi Adeosun, minister of finance, says the federal government has released an additional N750 billion for the implementation of capital projects to ministries, departments and agencies (MDAs).The minister made this known on Monday while speaking to a delegation of investors from France.This brings to N1.2 trillion, the total money released for capital projects in the 2017 budget.The federal government had [...]

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    Bitcoin future trading kicks off; investors awaiting central banks decisions

Bitcoin future trading kicks off; investors awaiting central banks decisions

Trading bitcoins entered a new phase today, after Chicago’s CBOE listed the first futures contract on the cryptocurrency. The initial reaction was beyond expectations with the futures contract climbing more than 20 percent and triggering two trading halts. CBOE’s website experienced unprecedented traffic which may well have sent a new benchmark; the frenetic activity led to delays and outages. So far, [...]

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    Nigerian Breweries appoints new MD

Nigerian Breweries appoints new MD

Nigerian Breweries Plc (NB) has announced the appointment of Jordi Borrut Bel as managing director and chief executive officer of the company effective from January 22, 2018.Borrut Bel will succeed Johan Doyer, who has been provisional managing director and chief executive officer since June.Borrut Bel has served in NB’s various business operations, and is currently the managing director of Brarudi [...]

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    Ambode presents record N1trn budget — N254bn less than Cross Rivers’

Ambode presents record N1trn budget — N254bn less than Cross Rivers’

Akinwumi Ambode, governor of Lagos state, has presented the 2018 budget before the state house of assembly.The N1.046 trillion budget is N254 billion less than Cross Rivers' 2018 budget. The south-south state estimated N1.3 trillion; the highest by any Nigerian state.Tagged budget of progress and development, it has a capital expenditure of N699 billion and a recurrent expenditure of N347billion.The [...]

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    CBN ‘may reduce’ CRR for SME-friendly banks

CBN ‘may reduce’ CRR for SME-friendly banks

Godwin Emefiele, governor of the Central Bank of Nigeria, says the cash reserve ratio (CRR) of banks who lend a certain portion of funds to small and medium scale enterprises (SMEs) may be reduced.Emefiele made this known on Sunday while addressing journalists at the end of the ninth Banker's Committee retreat in Lagos.The CRR is used to determine the minimum [...]

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    NNPC promises transparency as 577 firms bid for renewal contract

NNPC promises transparency as 577 firms bid for renewal contract

The Nigerian National Petroleum Corporation (NNPC) says 577 firms have indicated interest to secure the insurance renewal contract for its oil and non-oil assets.In a statement signed by Ndu Ughamadu, its spokesman, the corporation said the bidding is part of its efforts to ensure transparency.According to the statement, Modupe Bameke, NNPC group general manager, risk management and insurance, said the [...]

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    MTN missing as Airtel, Glo, Smile make final five to buy 9mobile

MTN missing as Airtel, Glo, Smile make final five to buy 9mobile

MTN Group did not make it to the final five companies in the bid for 9mobile, TheCable can report.The top five bidders who made it to the next stage of the bid are Airtel, Globacom, Smile, Helios, and Teleology Holdings Limited. Out of the five, one will be the eventual buyer in a matter of weeks.In a memo seen by [...]

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    Stock market outlook: Of roses and thorns

Stock market outlook: Of roses and thorns

The equities market, like the rose plant, is offering both roses and thorns at a time. It is possible to enter the market and find it to be full of roses while somebody else gets in and feels the pain of piercing thorns. The difference is the varying degrees of impact of the economic climate on businesses – some being [...]

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Exchange Rates

Dec 11,2017USDGBPEUR
INTERBANK360.45487.18428.32
LAGOS362480428
KANO363480427
PH363478427
ABUJA362479428
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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