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Exchange Rate For 26th March 2018
This is exchange rate for March 26, 2018 courtesy Guardian Nigeria and powered by Zenith. However, it's worthy of note that this could possibly change after today.
University of Lagos to set up refinery soon – Vice-Chancellor
The University of Lagos, UNILAG, would soon set up conventional and standard locally-built refineries to boost the nation’s refinery capacity, according to the Vice-Chancellor, Professor Oluwatoyin Ogundipe. The institution’s…
Tony Elumelu is set to earn over ₦1 billion from dividends this year
Pan African businessman Tony Elumelu has lots to smile about this year as he could earn over a billion Naira as dividends from quoted companies for the 2017 financial year. Here is a breakdown of his estimated earnings from each firm…
Investors Splash N12.56 Trillion on Fixed Income, Currency Instruments in February
Trading activities in Nigeria’s Fixed Income and Currencies (FIC) markets in February enjoyed a boost as investors, mostly banks, increased their stake by N860 billion. Transaction turnover for February increased to N12.56 trillion,…
Non-oil exporters earned $2.34bn in 2017 — Report
Exporters of non-oil products in the country earned the sum of $2.34bn (N714bn) in the 2017 fiscal period, data obtained from the Central Bank of Nigeria revealed. The amount is contained in the CBN economic report, which was obtained by…
Card to card transfer … here’s the latest addition to Nigeria’s FinTech environment
You can now transfer money from debit card to debit card without the stress of handling cash or complex bank shortcodes. The service was launched on Friday by PaySend in its new partnership with Access Bank. “We are delighted to…
Teleology’s plans for 9Mobile looks like a leverage buyout
Teleology Holdings has moved one step closer to taking over embattled GSM operator 9Mobile. Reports by Thisday, state the company has paid the $50 million non-refundable deposit (Thisday seems to get all the scoops on Teleology).…
Why MAN wants the hike in alcohol and tobacco excise duty reversed
The Federal Government has been advised by the Manufacturers Association of Nigeria (MAN) not to go ahead with the proposed excise duty hike on alcoholic beverages and tobacco products in Nigeria, as doing so would portend negative…
CBN appoints interim management for Fortis Microfinance Bank
In a notice to the Nigerian Stock Exchange, (NSE), Fortis Microfinance Bank has announced the appointment of an Interim Management Committee by the Central Bank of Nigeria (CBN) to pilot the affairs of the bank. Members of the…
Dollar extends losses on Fed move, Donald Trump revives trade war fears
The dollar extended losses in Asia on Thursday after the Federal Reserve stuck to its target for interest rate hikes this year, but fresh fears of a trade war hit equity markets as Donald Trump prepared new sanctions on China. After…
This is how much taxes Dangote Cement has paid in the last 5 years
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…
Access bank profit drops to ₦80 billion in 2017
Access Bank today released its financial statements for the year ended December 2017. Gross Earnings increased from ₦381 billion in 2016 to ₦459 billion in 2017. Profit before tax fell from ₦90 billion in 2016 to ₦80 billion in 2017.…
Aliko Dangote will earn over ₦100 billion in dividends
The first half of the year must be a jolly one for Africa’s richest man going by an estimate of dividends he will earn from his various companies. Dangote Industries Limited (DIL) will earn over ₦100 billion in dividends from the…