Saturday, August 18, 2018
Advertisement
    Fidelity Bank releases video to disprove ‘assault’ claims

Fidelity Bank releases video to disprove ‘assault’ claims

Fidelity Bank Plc has released an official statement addressing a viral video where one of its branch managers allegedly ordered security men to beat up customers for allegedly being rude.The incident took place in the Alagbado area of Lagos on Thursday.The bank also released CCTV footage on Sunday via its Twitter handle as evidence of what supposedly happened on the [...]

0 comments Read Full Article
    NSE investors lose N287bn in five hours

NSE investors lose N287bn in five hours

Investors on the Nigerian Stock Exchange lost N287 billion in the five trading hours of Friday; a move that saw market capitalisation drop below the N13 trillion mark.The last time the market experienced a loss of this magnitude was on August 15, 2017.The All-Share Index lost 786.19 points or 2.17 per cent to close at 35,446.47 compared with 36,232.66 on [...]

1 comment Read Full Article
    Ethiopian Airlines ‘favourite’ to manage Nigeria Air

Ethiopian Airlines ‘favourite’ to manage Nigeria Air

Tewolde Gebremariam, the chief executive officer of Ethiopian Airlines, says his company is the frontrunner in the bidding process for the management of Nigeria Air.Speaking at a news conference in Addis Ababa on Friday, Gebremariam said the group of investors interested in establishing the national carrier is small."We are among a small group with an interest in establishing a national [...]

0 comments Read Full Article
    NSIA pays $417.46m to NBET ‘to develop electricity market’

NSIA pays $417.46m to NBET ‘to develop electricity market’

The Nigeria Sovereign Investment Authority (NSIA) has paid $417.46 million to Nigeria Bulk Energy Trading Company (NBET) to develop the electricity market.Titilope Olubiyi, NSIA communications adviser, said this followed the expiration of a four-year investment agreement terms.The funds were transferred in three tranches with $8m paid on May 2016, $5.5m in August 2016 and the last on July 2018 with [...]

0 comments Read Full Article
    HURRAY! Federal Mortgage Bank reduces conditions for housing loan

HURRAY! Federal Mortgage Bank reduces conditions for housing loan

Nigerians above 18 with a steady paycheck will now be able to access up to N5 million housing loan from the Federal Mortgage Bank of Nigeria without equity contribution.This is one of the new conditions for accessing mortgage funds from the bank.According to a statement by Zubaida Umar, the revised requirements are a 100% reduction in the equity contribution required [...]

1 comment Read Full Article
    Abuja DisCos to roll out over 200,000 prepaid meters to end estimated billing

Abuja DisCos to roll out over 200,000 prepaid meters to end estimated billing

Ernest Mupwaya, managing director of Abuja Electricity Distribution Company (AEDC), says the firm is committing N10 billion to the provision of 222,728 pieces of meters in the next five months.He disclosed this on Wednesday while flagging the installation of the prepaid meters at CITEC estate in Abuja.Mupwaya said the installation of the new set of prepaid meters will benefit the [...]

0 comments Read Full Article
    NSE bleeds as investors lose N87bn in four days

NSE bleeds as investors lose N87bn in four days

Activities on the Nigerian Stock Exchange (NSE) ended in the red as stocks shed a total of N87 billion between Monday, August 6 and Thursday, August 9.Market capitalisation dropped to N13.22 trillion on Thursday; the last time it was in such corridors was in December 2017.There were 22 losers at the end of Thursday's trading day as against 12 gainers.NAN [...]

0 comments Read Full Article
    NCC: MTN must complete NSE listing by May 2019

NCC: MTN must complete NSE listing by May 2019

The Nigerian Communications Commission (NCC) says MTN, a telecommunications company, must complete its listing on the Nigerian Stock Exchange by May 2019.Speaking during an interactive session with journalists on Wednesday, Umar Danbatta, NCC executive vice chairman, said the commission is conducting fresh due diligence on Teleology, the preferred bidder for 9mobile.A listing on the stock exchange had been one of [...]

1 comment Read Full Article
    BOI to support two million traders with interest-free loans

BOI to support two million traders with interest-free loans

Toyin Adeniji, executive director of Bank of Industry (BOI), says the organisation has put in place initiatives to support two million traders with interest-free loans.While unveiling the ‘Trader Moni’ initiative in Lagos on Tuesday, Adeniji said BOI will not relent until every Nigerian has access to loans, irrespective of their status or level of education.She said the aim of the initiative is [...]

0 comments Read Full Article
    LADOL seeks fair review of free zone tariffs

LADOL seeks fair review of free zone tariffs

Amy Jadesimi, managing director of Lagos Deep Offshore Logistics Base (LADOL), says the company will collaborate with the federal government to ensure fairness in the review of free zone tariffs.Jadesimi said this will help foreign and local investors with operations in the free zone to benefit from the scheme in line with the government’s ease of doing business mandate.She made [...]

0 comments Read Full Article
Advertisement
Advertisement

Exchange Rates

August 17, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement