Breaking News

Stanbic IBTC set to unveil another Exchange Traded Fund

Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc has concluded plans to launch a new Exchange Traded Fund (ETF). To be called the Stanbic IBTC Pension ETF 40, the ETF will mirror the Pension 40 Index (Pension Index), according to the company. The launch will bring to two the ETFs in Stanbic IBTC Asset Management Limited’s portfolio.

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Dangote Flour bounces back to profitability with N2.6bn

Dangote Flour Mills Plc has returned to profitability, posting a Profit Before Tax, PBT, of N2.64 billion in the half year ended June 30, 2016, compared to a loss of N9.55 billion posted at the corresponding period in 2015 after its re-acquisition from Tiger Branded Consumer Goods Plc some months ago. Dangote Flour Mills consist of Dangote Flour, Dangote Pasta, and Dangote Noodles.

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FG sets up inter-ministerial committee to ease doing business in Nigeria

The Federal Government has set up an inter-ministerial committee, comprising ministries of Interior, Foreign Affairs and Trade and Investment to immediately address all challenges inhibiting foreign investment in Nigeria. The Minister of Interior, retired Lt.-Gen Abdulrahman Dambazau, disclosed this on Friday in Abuja, at a meeting with the Minister of Foreign Affairs, Mr Geoffrey Onyeama and his Trade and Investment counterpart,Dr Okechukwu Enelamah.

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Information Technology And Entrepreneurial Revolution The Way Out For Nigeria

A 2001 – 02 analysis of global IT infrastructure ranked Nigeria 75th of 75 surveyed countries. (Centre for International Development) The whole of West Africa suffers from endemic “information poverty” and Nigeria is no exception. Nigeria obtained its first digital computer in 1963. Installations remained low even after many individual Universities, government departments and public sector undertakings had acquired some amount of computing power towards the end of the 1970s.

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Aliko Dangote

Dangote to commence coal mining in quarter 4

Dangote Cement Plc, a subsidiary of Dangote Group, has disclosed plan to commence mining its own coal at Ankpa, Kogi State by fourth quarter of the year. The company also said that due to acute gas shortages in the country following disruptions occasioned by militancy in the Niger Delta region, it has switched its plant lines to coal to minimize cost and increase margin.

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Mr. Oluwaseyi  E. Abe, CIS president,

We owe FG constant engagement to articulate policy issues- CIS President

I must put on record that many government functionaries, including governors, ministers and heads of Agencies and Parastatals do visit the Nigerian Stock Exchange, NSE . Recently, the NSE hosted the Speaker of House of Representatives, Honourable Yakubu Dogara who addressed the stockbrokers and closed the market by ringing the closing gong like other important visitors. Also, recall that the Vice President of Nigeria, Professor Yemi Osinbajo had also appeared on the trading floor.

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Chairman, Dr. Olatunde Ayeni, and Managing Director/Chief Executive Officer, Mr. Timothy Oguntayo

Skye Bank: Banking challenge in stormy times

These are challenging and stormy times for the Nigerian economy. For the first time in a decade, an economy that used to record growth rate of 7.0 per cent is now in recession. It recorded negative growth rates in the first and second quarters of this year, courtesy decline in crude oil price as well as fiscal and monetary policy that aggravated the severe impact of the decline from oil revenue on businesses and individuals.

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