Economy News Extra Investments/Capital Market Latest News

SEC Urges Investors To Update Accounts With Ownership Proofs

The Securities and Exchange Commission, SEC, has urged investors in the nation’s capital market to provide proofs of ownership to facilitate the regularization of their accounts and help curb the increasingly worrisome rate of unclaimed dividends in the market. The Acting Director General of the SEC, Ms Mary Uduk, gave the advice at a One-Day […]

Economy News Extra Investments/Capital Market Latest News Power/Electricity Privatisation & Commerce

Transcorp Plc Wins Afam Power GenCo Bid

Transnational Corporation of Nigeria Plc, (Transcorp Plc) has been named the preferred bidder for Afam Electricity Generation Company (GenCo) in furtherance of government’s efforts to increase electricity generation through private sector investments. Transcorp was successful with its offer of N105.3 billion (about $293 million) for the power plant, which operates a natural-gas fired power plant […]

Economy News Extra Foreign Investments/Capital Market Latest News

UK Targets New Investments In Nigeria, Ghana Others

The United Kingdom is revving up its investment drives in Nigeria and other Africa countries, including Francophone countries, as its planned exit from the European Union (EU) continues to gain traction by the day A statement from the Foreign and Commonwealth Office on Tuesday showed that the Foreign Secretary, Jeremy Hunt, is visiting Francophone Senegal, […]

Budgeting Economy News Extra Latest News National Assembly

Senate Passes N8.91Trn 2019 Appropriation Bill

The Nigerian Senate on Tuesday passed the 2019 Appropriation Bill after months of rigorous deliberations on the proposal sent by the Executive in December 2018. The figure is higher than the proposed sum of expenditure President Muhammadu Buhari presented to the joint session of the national assembly on December 19 by N86 billion. The passage […]

Economy News Extra Latest News Manufacturing Oil & Gas

Manufacturers Decry High Cost Of Gas, Seek Price Review

The Manufacturers Association of Nigeria (MAN) has charged the Ministry of Petroleum Resources to address the challenges being encountered by manufacturers on rising price of gas and called for immediate review of the price. The President of the organized private sector group, Engr. Mansur Ahmed, Ahmed made the call at an interactive forum on gas […]

Banking Economy News Extra Investments/Capital Market Latest News

Shareholders Commend FCMB Board, Mgt On Impressive Performance, Dividend Declaration

Shareholders of FCMB Group Plc have commended the Board, management and staff of the financial institution for recording another impressive performance in 2018 in spite the challenging macroeconomic and regulatory environment. The commendation was given at the 6th Annual General Meeting (AGM) of the Group held on April 26, 2019 in Lagos. At the meeting, […]

Banking Latest News National Assembly Tax

FIRS Seeks CBN’s Support On Foreign Firms’ e-VAT Payments

The Federal Inland Revenue Service (FIRS) has indicated its intention to collaborate with the Central Bank of Nigeria (CBN) to track Value Added Tax (VAT) payments made electronically by foreign entities not registered in the country. This is one of the strategies being considered by the revenue agency in a document it submitted to the […]

Economy News Extra Latest News Oil & Gas Revenue

Oil Prices Hit Six-Month High As U.S Tightens Sanctions On Iran

Oil prices in the international oil market rose to near six-month highs on Tuesday as the United States tightened sanctions on Iran, thereby sending shares of energy companies higher and boosting currencies of several major crude producers. For instance, Brent crude oil futures rose 0.7 per cent to $74.57 per barrel by 0630 GMT, their highest since […]