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 […]
There are huge potentials for fruit processing in Benue – Transcorp CEO
Obinna Ufudo is the President/CEO of Transnational Corporation of Nigeria Plc. In this interview, he explains why Transcorp’s agric subsidiary Teragro Limited, leased Benfruit Concentrate Processing Plant from the state government for 10 years. Excerpts:
Dangote Sugar declares N3.6 bn dividend
Dangote Sugar Refinery Plc (DSR) is set to pay out N3.6billion as divided to its shareholders for the business year ended December 31, 2011 just as the management assured of continuous improvement in its performance in view of the new investments undertaken by the organization.
SON evacuates N450m bad cables from warehouses
The Enforcement Unit of Standards Organisation of Nigeria (SON) has evacuated 22,108 coils of bad electric cables worth N450 million from warehouses at Alaba International Market in Lagos State.
Fidelity Bank declares N7.7bn profit
Fidelity Bank Plc has announced a profit before tax of N7.67 billion for the 2011 financial year. This, according to a statement by the bank, announcing its year end, December 31, 2011, financial result, represents a decline of 11.3 per cent from N8.65 billion recorded in the 2010 financial year.
Australian firm unveils protective wears in Nigeria
An Australian company, Gazal, has launched Bisley protective wears into the Nigerian market. Speaking during the unveiling of the products, the company’s Executive Director, Mr. David Gazal, said: “We always put the safety of our workers into consideration and that is why we have created these treated work wears that would keep individuals safe in their places of work and even in their homes.”
