nairametrics
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CBN vows to sanction banks that sell dollar above N360 – Nairametrics
The Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, has warned banks against selling dollars to eligible travelers above the stipulated price of N360. Emefiele gave the warning during an inspection of banks in Abuja to monitor the rate of compliance with … Read more via...- curator
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Julius Berger targets 25% surge in 2018 revenue – Nairametrics
Managing Director, Julius Berger Nigeria Plc, Wolfgang Goetsch says the company forecasts a 45 percent jump in 2018 revenue as the country recovers from a 2016 contraction and as the foreign-exchange market stabilizes. The construction company says it expects revenue to grow to ₦210 billion...- curator
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Business 9 Nigerian entrepreneurs made this Forbes list – Nairametrics
Earlier this week, while speaking at the 2018 Commonwealth Business Forum, President Muhammadu Buhari implied that most Nigerian youths are lazy and want everything on a platter of gold. Coincidentally, on the same day he made this controversial comment, Forbes published its list of “30 Most...- curator
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Business UBA Meets NSE’s stringent corporate governance conditions, lists on NSE Premium Board – Nairametric
The Nigerian Stock Exchange on Monday migrated the ordinary shares of United Bank for Africa (UBA) Plc to its Premium Board, in what capital market analysts describe as an attestation to the Bank’s strong adherence to international best practices on corporate governance. Read more via...- curator
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Business Naira hits one month high on parallel market – Nairametrics
The recorded improvement is due mainly to the rise in crude oil prices. In the past few months, crude prices have increased considerably up to the $70 mark. This morning, the price climbed up to $71.66 following US President (Donald Trump’s) issuance of warnings against Syria and Russia. This...- curator
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Business How Trump’s angry tweets on Syria and Russia benefit Nigeria – Nairametrics
Crude oil prices soared high on Wednesday, trading at $73 per barrel in the aftermath of US President [Donald Trump’s] warnings to strike Russia’s ally Syria. This is followed by media reports that Saudi Arabia foiled a terror attack on its capital Riyad, an incident that equally contributed...- curator
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Business The Nigerian Stock Exchange has just delisted these companies – Nairametrics
Two companies – Afrik Pharmaceuticals Plc and African Paints Nigeria Plc – have been delisted by the Nigerian Stock Exchange (NSE) from trading on the secondary market. The delisting happened over the weekend following the approval of the National Council of the Nigerian Stock Exchange...- curator
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Business The potential risks of Buhari running for Presidency again – Nairametrics
Nigeria’s President Muhammadu Buhari declared on Monday that he intends to run for the presidency again come 2019. Shortly after the news, the stock market fell to its lowest in 3 months, allowing some critics to blame the fall on the President’s re-election bid. Understandably, this has...- curator
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Business Tantalizers Plc bounces back with FY 2017 profit of ₦450 million – Nairametrics
Tantalizers Plc has released its financial statements for the year ended December 2017. Revenue increased from ₦3.6 billion in 2016 to ₦3.7 billion in 2017. The company also made a profit before tax of ₦450 million as against a loss before tax of ₦1 billion in 2016. Read more via...- curator
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Business CWG Plc turnover plunges to ₦8 billion in 2017 – Nairametrics
CWG Plc formerly Computer Warehouse Group has released its financial statements for the year ended December 2017. The report shows its revenue plummeted from ₦10.2 billion in 2016 to ₦8.8 billion in 2017. Read more via Nairametrics – https://ift.tt/2q116Pd Get more: Nigeria Business News- curator
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Business Seplat resolves $20.5 million dispute with Crestar over oil deal – Nairametrics
Seplat Petroleum Development Company Plc has reached d an out-of-court settlement between its subsidiary; Newton Energy Limited and Crestar Natural Resources Limited following a legal dispute over the acquisition of Oil Mining Lease (OML) 25. Read more via Nairametrics –...- curator
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Business CAP increases staff benefits despite flat profit – Nairametrics
CAP Plc recently released its financial statements for the year ended December 2017. While revenue increased slightly, the bottom line declined. Revenue increased by 4% from N6.8 billion in 2016 to N7.1 billion in 2017. Profit before tax however dropped by 5% from N2.2 billion in 2016 to N2.1...- curator
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Business Chinese company may take up stake in Nigcomsat – Nairametrics
China Great Wall Industry, a company that manufactures satellites in China has committed the sum of $550m for equity investment in Nigcomsat (Nigeria Communications Satelite Ltd), the Minister of Communications, Adebayo Shittu has said. The Minister, who disclosed this during an interview with...- curator
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Business This is how much taxes Dangote Cement has paid in the last 5 years – Nairametrics
Dangote Cement recently released its 2017 annual report revealing that it made a profit of N204.2 billion compared to N142.8 billion in 2016. The company has often been criticised for “not paying taxes” or perhaps not paying enough taxes. Read more via Nairametrics – http://ift.tt/2pv9pm5...- curator
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Business CWG Plc has raised an alarm over reduction in earnings – Nairametrics
Computer Warehouse Group CWG Plc has revealed that the technology company suffered a decline in performance and its earnings may significantly drop than the previous years. This hint was dropped by the board of directors of the company who noted that preliminary review of the annual report and...- curator
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Business Barclays Africa admits due process was not followed in sale of 9mobile – Nairametrics
The recent claim by some stakeholders in the telecoms industry and particularly the reserved bidder, Smile Communications, that due process was not followed in the sale of 9mobile has been confirmed by Barclays Africa, the financial adviser handling the sale of 9mobile. Read more via...- curator
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Business Cadbury renews contract with NFF as partnership deals hit $50 million – Nairametrics
TomTom, a product from the staples of Cadbury Nigeria PLC and the Nigerian Football Federation has signed a new three-year agreement that will make Tom Tom the official candy of the country’s national football team, the Super Eagles. Read more via Nairametrics – http://ift.tt/2DIywqo Get...- curator
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Business Unity Bank to receive $1 billion from Milos – Nairametrics
Reports by Bloomberg suggest Milost Global will invest $1 billion in tier two lender Unity Bank. The firm had in February disclosed that it was in discussions with the Central Bank of Nigeria (CBN) regarding investment in a tier two bank. Read more via Nairametrics – http://ift.tt/2u07BXv...- curator
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Business Coca-Cola Nigeria will start Juice production to boost revenue – Nairametrics
y The parent company of Coca-Cola Nigeria, Coca-Cola HBC, has revealed that it will prioritize the production of plant-based beverages, juice smoothies, and PET juice packaging in Nigeria this year. The company made this disclosure in its Full year 2017 Integrated Annual Reports recently...- curator
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Politics Nigeria’s debt portfolio increases by ₦9.61 trillion – Nairametrics
Nigeria’s debt increased by ₦9.61 trillion between mid-2015 and end of 2017, The Debt Management Office has said. In a statement to The Punch Newspaper, the Debt Management Office said that Nigeria’s external debt stood at 26.64% as at the end of 2017 compared to the 20.04% that was recorded in...- siteadmin
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