Money

How profit-taking down equites investment by N1.42trn in one week

DailyTimesNGR DailyTimesNGR 11 February 2024 0

By Motolani Oseni The Nigerian stock market closed the week lower, as profit-taking activities dominated the market amidst weak breadth and elevated volatility, while market capitalisation lost a whopping N1.42 trillion to close the week at N55.735 trillion. Accordingly, the All-Share Index

Money

MAN, DIBAN call on FG to reverse sachet alcohol ban, risk N800bn loss

DailyTimesNGR DailyTimesNGR 11 February 2024 0

The Manufacturers Association of Nigeria (MAN) and Distillers and Blenders Association of Nigeria (DIBAN) has expressed concern on the ban of alcoholic beverages in sachets and pet bottles less than 200ml, they stressed that it may cause manufacturers and other stakeholders across the food and beverages value chain to lose investments worth over N800 billion. […]

Money

Lafarge Africa unveils its first Green Depot in Nigeria

DailyTimesNGR DailyTimesNGR 5 February 2024 0

By Motolani Oseni Lafarge Africa Plc., a leading innovative and sustainable building solutions company, has launched its first Green Depot in Abeokuta, Ogun State, marking a transformative stride towards sustainable practices in the distribution and logistics of construction materials in the country. This state-of-the-art facility is poised to set new benchmarks for

Money

CBN working on price discovery for local currency, says Naira remains undervalued

DailyTimesNGR DailyTimesNGR 25 January 2024 0

By Temitope Adebayo The governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has said the apex bank will be working on price discovery for the nation’s local currency as it believes that the naira is currently undervalued. This is even as he said, the CBN is committed to not only clearing the […]

Money

NECA calls for adoption of backward integration, industrialisation

DailyTimesNGR DailyTimesNGR 20 January 2024 0

By Temitope Adebayo The Nigeria Employers Consultative Association of Nigeria (NECA) has advised employment of backward integration and resource-based industrialisation to tackle econonic hardship in the country. This is just as it noted that improvement in food and domestic production should be pursued with drastic step by the federal government to prune the daily rise

Money

Reps to support NDIC in securing depositors’ funds through proactive framework

DailyTimesNGR DailyTimesNGR 20 January 2024 0

By Temitope Adebayo The House of Representative Committee on Insurance and Actuarial Matters, has said, it would be taking a proactive stance in formulating regulatory frameworks and providing support to the Nigeria Deposit Insurance Corporation (NDIC) to effectively safeguard and secure depositors’ funds in Nigeria. This was stated by the chairman of the committee,

Money

KEDCO targets 24-hour power supply, set to commission $2m project

DailyTimesNGR DailyTimesNGR 20 January 2024 0

The Kano Electricity Distribution Company (KEDCO) is set to attain 24-hour electricity supply within its franchise states of Kano, Katsina and Jigawa as the company’s new core investors roll-out an ambitious plan to build up to 200MW of incremental capacity through 100 mini-grids and embedded generation. This was made known by the company’s board chairman, […]

Money

N47bn Debt Recovery: NCAA withdraws services from debtor airlines

DailyTimesNGR DailyTimesNGR 20 January 2024 0

..Says ‘no pay, no service’ By Chukwuemeke Iwelunmo In a move to recover over N47 billion it is being owed by local airlines, the Nigeria Civil Aviation Authority (NCAA) has declared a ‘no pay, no service’ sanction on defaulting airlines. The Acting Director General of NCAA Capt Chris Najomo who disclosed this in a media […]

Money

NSIA Insurance receives awards on quality products, services

DailyTimesNGR DailyTimesNGR 20 January 2024 0

By Motolani Oseni NSIA Insurance has been awarded with SeamlessHR Product Honor Roll Award. This, the insurer said, is a testament to NSIA Insurance’s commitment to leveraging cutting-edge solutions for organizational success. The Product Honor Roll Award, presented by SeamlessHR, recognises organisations with the highest product usage, showcasing a dedication to

Money

Coronation Asset Management win big at International Finance Awards 2023

DailyTimesNGR DailyTimesNGR 20 January 2024 0

By Motolani Oseni Coronation Asset Management Limited, a subsidiary of Coronation Group Limited ha been recognized at the International Finance Awards 2023, where it was awarded the Fastest Growing Asset Management Firm. This remarkable achievement was unveiled on the International Finance Awards website earlier this week, marking a significant milestone for the

Money

Customs facilitates N32.45bn export, N5.94bn in 2023 at Seme border

DailyTimesNGR DailyTimesNGR 12 January 2024 0

By Temitope Adebayo The Seme Customs Command of the Nigeria Customs Service (NCS), said, the command facilitated a total of 222.442.88 metric tons involving 6,253 trucks of export produce, with Free On Board (FOB) value of N32.45billion between January to December 2023. The Customs Area Controller(CAC) of Seme Customs, Controller Timi Bomodi, stated that, the […]

Money

Kenya overtakes Nigeria in Africa’s tech funding

DailyTimesNGR DailyTimesNGR 12 January 2024 0

By Motolani Oseni Kenya has overtaken Nigeria, gaining the highest amount of tech funds on the African continent, in 2023, a report has revealed. The report by ‘Africa: The Big Deal’, a tech research firm, showed that for the first time in a while, tech funding across the four markets was distributed relatively equally. The […]

Aviation Money

ANAP cautions FG over politicising positions in aviation agencies

DailyTimesNGR DailyTimesNGR 12 January 2024 0

..Warns workers on psuedo trips BY CHUKWUEMEKE IWELUNMO The Federal government has been urged to avoid politicising carrier positions in the aviation agencies in order to ensure safety and achieve civil service goals The general secretary of Association of Nigeria Aviation Professionals (ANAP) Comrade AbdulRasaq Saidu who disclosed this in an interview with Dailly Times

Money

2023 Annual Tax Returns: Oyo govt insists on Jan’ 31 deadline for employers of labour

DailyTimesNGR DailyTimesNGR 12 January 2024 0

BY STEPHEN GBADAMOSI The Oyo State government has said that January 31, 2024 is the deadline for filing the year 2023 annual tax returns by corporate employers of labour. The government also said individual employers of labour had the 31st of March 2024 as deadline. The annual tax returns require every taxpayer to state the […]

Money

NGX ASI rebounds as market cap adds N314bn

DailyTimesNGR DailyTimesNGR 12 January 2024 0

By Motolani Oseni The equities market of the Nigeria Exchange Limited (NGX) Thursday rebounded by N314 billion after prior’s bearish performance, driven by renewed interest in Julius Berger Plc and 47 other stocks. Also, the All-Share Index (ASI) advanced by 572.70 points, representing a gain of 0.70 per cent to close at 82,597.08 points. Also, […]

Money

Dangote Refinery receives another one million barrels of crude

DailyTimesNGR DailyTimesNGR 22 December 2023 0

By Motolani Oseni Dangote Refinery has made a further move towards the commencement of production of refined petroleum products with the receipt of an additional one million barrels of bonny light crude supplied by the Nigeria National Petroleum Corporation Limited (NNPCL). The fresh one million barrels of crude from the Shell terminal via the MT […]

Money Money

TotalEnergies commits to methane emissions reduction in Nigeria

DailyTimesNGR DailyTimesNGR 21 December 2023 0

By Motolani Oseni Chairman and CEO of TotalEnergies, Patrick Pouyanné, has reaffirmed the company’s long-term commitment to Nigeria and supports the country in reducing methane emissions. Pouyanné stated this at the meeting with President Bola Tinubu, President in Abuja. The Company said over the past decade, it has been the largest private energy investor in […]

Money

Zenith Bank makes world finance list of 100 top global companies in 2023

DailyTimesNGR DailyTimesNGR 21 December 2023 0

Zenith Bank Plc has been listed in the World Finance 100 2023 released by World Finance Magazine, achieving the feat as the only Nigerian company in the prestigious and exclusive listing. Zenith Bank’s inclusion in this elite list underscores the bank’s outstanding achievements and resilience in a dynamic and competitive global market. The World Finance […]

Money

MTN, CardinalStone, VFD Group recognised at NGX Made of Africa Awards

DailyTimesNGR DailyTimesNGR 21 December 2023 0

By Motolani Oseni MTN Nigeria Communications Plc, VFD Group Plc, CardinalStone Securities and Chapel Hill Denham were big winners at the just concluded Made of Africa Awards organized by Nigerian Exchange Limited (NGX). The Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola, noted at the event that the annual Made of Africa Awards is […]

Money

LASG orders tankers, trailers at Cele bus stop to vacate Tincan port axis

DailyTimesNGR DailyTimesNGR 21 December 2023 0

By Temitope Adebayo In a decisive move to address the ongoing congestion and alleviate the challenges faced by commuters along the Cele bus stop inward Tincan Port axis, the Lagos State Government has issued a directive instructing all tankers and trailers to stop the indiscriminate parking along the corridor forthwith. The Special Adviser to the […]