Business

Afreximbank Building

AFREXIMBANK opens virtual platform for information on African trade

The new platform was opened to run as part of the forthcoming intra-African Trade Fair (IATF 2018) in Cairo, Egypt next month.

ILO

Salaries, wages growing at lowest level since 2008 — ILO

Overall, global wage growth declined to 1.8 per cent in 2017 from 2.4 per cent in 2016, according to the findings, which were based on data from 136 countries.

Ibe Kachikwu

Three modular refineries to begin operations in 2019 — Kachikwu

“Out of the 40 licenses issued, only 10 have shown progress…”

Nigeria Stock Exchange

Continental Reinsurance Africa to acquire Nigerian entity’s outstanding shares

A notice was sent to the Nigerian Stock Exchange on Monday.

General Motors (Photo Credit: Moneycontrol)

General Motors to cut 15% jobs, halt production in plants

The plan, the global firm said, would affect more than 14,000 jobs.

The World Bank

Nigeria’s fiscal deficit may widen in 2018 – World Bank

The Washington-based institution says Nigeria needs to take concrete steps to break its oil dependency to improve its economic and social outcomes.

The Araromi Oke-Odo market in Lagos

Prices of selected foodstuff increased in October – NBS

The prices of eggs and imported rice increased.

Volkswagen factory (Photo credit: RT.com

Volkswagen spearheads workshop to make Nigeria automotive hub

The workshop was organised for Nigeria and Volkswagen to agree on the next steps.

Nigeria Stock Exchange (NSE)

NSE: Indices bow to profit taking by 0.96 per cent

The market capitalisation shed N111 billion to close at N11.565 trillion against N11.676 trillion on Thursday.

Afreximbank Building

Afreximbank records $546.6 million gross income

The bank also recorded a net income of $172.4 million during the period, which was 11.9 per cent higher than 2017 record.

Bus

Abuja, Cross River, Abia residents paid highest transport fare in October — NBS

The report says states with lowest bus journey fare within city were Rivers, Anambra and Bauchi.

Godwin Emefiele

Why it took almost 9 years to uncover MTN’s illegal repatriation of $8.1bn — CBN governor

He rejected accusations that the CBN neglected its monitoring and regulatory role which allowed the illegal transfers thrive.

NDIC building

Why depositors in liquidated Nigerian banks haven’t been paid – NDIC

The suffering of the depositors would continue unless the NDIC enabling Act is speedily amended by the national assembly.

Central Bank of Nigeria (CBN)

Why CBN is controlling monetary rates for 14th consecutive time – MPC

Foreign reserves down from $42.6 billion in September to $41.53 billion on November 16.

nigerian_stock_exchange

Zenith Bank drives trading on NSE

The bank accounted for 605.54 million shares worth N14.53 billion followed by Transcorp.

Oil rig

Oil bounces above $63 after slide, but glut worries persist

Brent crude, the global benchmark, was up 92 cents to $63.45 per barrel.

Minister of Trade and Investment, Okechukwu Enelamah

Nigeria signs $60mn development partnership with UNIDO

The partnership is for inclusive and sustainable industrial development in Nigeria for 2018- 2022.

United States flag used to illustrate the story. [Photo credit: World Atlas]

U.S. banking sector reports $62bn profit in Q3

Only 3.5 per cent of banks reported net losses, down from four per cent a year ago.

Carlos Ghosn (Photo Credit: Al Jazeera)

Nissan shares slump after arrest of chairman Carlos Ghosn

The embattled official was arrested and would be fired from Nissan’s board this week, the company said.

Yobe on map

Yobe govt. promises to sustain immunisation coverage

The governor said the improvement in security had provided opportunity to reach more women and children for coverage in remote areas.

EXCLUSIVE: 10 Nigerian banks paid over N1 billion as emoluments to top directors in 2017

As the banks raked in billions of naira in profits, they compensated their top directors with fat pay.

NCC Headquarters used to illustrate the story.

NCC decries telecoms operators’ non-compliance to AOL

The commission says it has been inundated with complaints by subscribers on non-compliance with directions on data roll-over.

NDIC building

NDIC pays N1.45bn to bank depositors, recovers N28bn from debtors

NDIC’s operating income increased from N122.68 billion in 2016 to N146.47 billion in 2017.

Executive Vice President (Business Development & Corporate Banking), AFREXIMBANK, Amr Kamel

INTERVIEW: Intra-African trade: Why we must take our destiny in our own hands — AFREXIMBANK VP

The volume of trade between countries in Africa currently accounts for only 15 per cent of total world trade.

Central Bank of Nigeria (CBN)

CBN reschedules monetary policy committee meeting

An official explains the reason for the shift.