CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Babatunde Savage becomes Guinness Board Chairman
THE Board of Directors of Guinness Nigeria has announced the appointment of Babatunde Savage, currently the Deputy Managing Director, Guinness Nigeria Plc, as the company’s Chairman. He succeeds Dr. Ralph Alabi who has retired after 13 years as chairman during which the business experienced great transformation as a result of his commitment and good leadership. The appointment is with effect from July 1, 2009.
NDA endorses close -up new campaign
The Nigerian Dental Association has thrown its weight behind the new close up campaign, “day + night brushing†initiative unveiled recently in Lagos.
AfDB pumps €10 million into health sector in Africa
The Board of Directors of the African Development Bank (AfDB) has approved an investment of Euro 10 million in the Investment Fund for Health in Africa (IFHA). IFHA is a pioneer multinational private equity vehicle that invests growth equity in privately owned businesses in the healthcare value chain.
Bears return, deflate share value by N100bn
The bullish run in the Ni gerian capital market was halted, Wednesday, as the value of listed equities on the Nigerian Stock Exchange (NSE), represented by the market capitalisation, crashed by N99.98 billion.
SEC yet to approve Ogun State N50bn Bond
THE Securities and Ex change Commission (SEC), apex capital market regulator has not given approval to the proposed N50 billion Bond by the Ogun State government, saying until all the necessary requirements are met.
Meanwhile the Executive Governor of Ogun State, Otunba Gbenga Daniel has called on the Securities and Exchange Commission (SEC) to support Ogun State in issuance of a N50 billion bond to finance infrastructure in the state.
The Governor who paid a visit to the Commission recently said the bond will enable the state embark on industrial development.
N49 MILLION DEBT: Abuja largest market shut down
THE Federal Capital Territory Administration (FCTA) Wednesday shut the largest market in Abuja located at Garki area of the Federal Capital Territory under wise known as “Monday market†over what the administration described as failure to pay a debt of N49 million for sanitation and maintenance services.
Garment industry capable of generating 600,000 jobs
The Managing Director of Lai Clothiers, Chief Lai Olumegbon, has estimated that the garment industry is capable of employing over 600,000 Nigerians who would in turn generate employment if the industry was properly harnessed.
FG pays N51.8billion to scanning service providers
The Federal; Government may have paid N51.8 billion to the three scanning service providers involved in the Inspection Destination project namely Cotecna, SGS and Globalscan for services provided since the scheme commenced three and half years ago.
Maersk Line introduces direct shipping services to Nigeria
Global leading container carrier, Maersk Line, has introduced direct shipping services into Nigeria’s ports even as many other major shipping lin es ha ve scaled down their product offering in Nigeria; consequent upon increasing operational difficulties due to the global economic downturn.
Succession tussle hits Customs again
About two months to the retirement of Bernard Shew Nwadialo, the Comptroller General of the Nigeria Customs Service (NCS), the tussle for who replaces him has again sprang up with top officials of service lobbying top government officials for the position.
