Mr Lugard Aimiuwu, President of National Institute of Marketing of Nigeria (NIMN), has advised the Central Bank of Nigeria (CBN) against constant increase in lending rates. Aimiuwu told the News Agency of Nigeria (NAN) in Lagos that frequent increase in lending rates would affect the growth of the real sector, particularly agriculture and small scale enterprises.

The Minister of Land, Housing and Urban Development, Chief Nduese Essien, has threatened the use of all available legal means, including the Economic and Financial Crimes Commission (EFCC) to ensure that un-remitted monies deducted from workers’ salaries to the National Housing Fund (NHF) are fully recouped from defaulting agencies.

Trade Union Congress of Nigeria, TUC, has issued a month ultimatum to the management of Union Bank of Nigeria, UBN Plc, as they concluded negotiations on perceived unlawful sack and payment of gratuities to 2,710 ex-staff of the bank or risk series of industrial actions.

Consolidated Breweries (CB) Plc may be at the verge of acquiring Benue Breweries Limited and Champion Breweries Plc if the planned acquisition of the majority shares of both brewers gets the approval of its shareholders, as it fetes distributors.

For the second consecutive week, the nation’s external reserves fell by $458 million to $32.576 billion.
Meanwhile, FGN Bonds on the average lost 60.6 kobo of their value last week as yields rose in response to the increase in Monetary Policy Rate (MPR) on Tuesday.