Nigerian Bottling Company marks 75yrs, reaffirms commitment to Nigeria
By Tunde Oso Nigerian Bottling Company (NBC) Ltd, a member of the Coca-Cola HBC Group, has marked its 75th anniversary in Nigeria with a gala event held at the Conference Centre, Abuja. Reflecting on the company’s origin, Anastassis G. David, Chairman of Coca-Cola HBC, said: “In 1951, Anastasios Leventis negotiated the rights for the whole […]
NSE places Union Homes’ shares on full suspension
The Nigerian Stock Exchange, NSE, has placed the shares of Union Homes and Savings Plc on full suspension. By full suspension, stockbrokers are not permitted to execute any transaction on the shares of the company within the stipulated period. This, according to a regulatory filing obtained by Vanguard, is pursuant to a March 10 2015 directive of the Securities and Exchange Commission, SEC and will enable Union Homes and the holders of its fully paid ordinary shares conclude the Scheme of Reorganization of Capital between them.
Coping in times of uncertainty (2)
The Nigerian economy is in recession. Looking back, there was a recession starting in 1981 which was also influenced by a significant drop in crude oil prices in 1986. The Federal Government, FGN, introduced economic policies described as a Structural Adjustment Programme, SAP, and a Second-Tier Foreign Exchange Market, SFEM. From that time, the value of the naira against the United States dollar has moved from N3 to N200 to the dollar. Whoever emerges as President from the forthcoming national elections would have to take measures that would improve our economy.
SEC records N549.53bn new issues in Q4, 2014
The Securities and Exchange Commission, SEC, has said that a total of 22 new issues worth N549.53 billion were recorded in the capital market in the last quarter, Q4 of 2014. This, according to the commission’s fourth quarter report and review of activities in the nation’s capital market from October to December, 2014, comprised equity and debt instruments.
Nigeria to undergo GIABA mutual evaluation in 2016
Nigeria, Ghana and Senegal will in January, 2016 be subjected to the Intergovernmental Action Group against Money Laundering in West Africa, GIABA’s mutual evaluation to ensure that they have a robust anti-money laundering mechanism in accordance with Financial Action Task Force, FATF recommendations.
GTBank gets N34bn IFC loan for onward lending to critical sectors
Guaranty Trust Bank Plc has secured a $175 million (about N34 billion) loan from the IFC to expand its lending to sectors that drive economic growth and job creation in Nigeria. This is even as the bank’s Training Academy for pre-entry level staff has been accredited by the Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN).
