MARKET UPDATE
FEBRUARY 23, 2018NIGERIA STOCK EXCHANGE (Market Open) SUMMARY:All Share 42,158.32Index Deals 5,794.00Volume 570,259,494.00Value 5,325,665,341.65Market Cap 15,129,125,341,019.46TOP GAINERSGUARANTY 47.25 (48)NASCON 20(20.55)FLOURMILL 32 (32.55)ZENITHBANK 31.05 (31.5)UBA 12.2 (12.6)TOP LOSERSNESTLE 1380 (1370)MOBIL 199 (190)NB 128 (124.5)COINOIL 35.5 (32.1)JBERGER 27.3 (25.95)Buying:USD 305GBP 424.743 EURO 375.7905 SWISS FRANC 325.3333 YEN 2.8372 Selling:USD 306GBP 426.1356EURO 377.0226SWISS FRANC 326.4YEN 2.8465CNBC COMMODITY PRICES (USD)Crude Oil (Bonny light) $70.44Natural Gas 2.661 (0.045)Gold 1330.60 (-0.60) Silver 16.605 (0.167)Copper 3.2075 (0.017)Wheat 460.50 (-2.00)Coffee 118.95 (-0.75)Cotton 79.81 (0.85)Cocoa 2155.00 (7.00) 
Saturday , February 24 2018
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BUSINESS

We’ll beam searchlight on Dana Air, others – FG

The President/Chief Executive Officer, Dangote Industries Limited, Aliko Dangote, has said that his target is to ensure that Nigeria becomes economically self-sufficient. He said this during the 2018 Customers Celebration and Distributors Awards Night of Dangote Foods, comprising of Dangote Flour Mills, Dangote Sugar Refinery and NASCON Allied Industries, where 77 customers were rewarded in Lagos on Wednesday.   Dangote ... Read More »

Reps Direct NNPC To Stop Maintenance For Refineries

The House of Representatives Ad-Hoc Committee investigating the state of the nation’s refineries has directed the Nigerian National Petroleum Corporation to halt the 1.8 billion dollars contract for the Turn Around Maintenance (TAM) at the facilities. Addressing a media conference in the national assembly, the Chairman of the committee, Garba Mohammed, said the House has mandated the committee to ascertain ... Read More »

Banks must settle customers’ complaints within 2 weeks – CBN

The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to settle customers’ complaints on issues of overcharge, unauthorized deductions and other matters within two weeks. Mr Tajudeen Ahmed, the CBN Head of Complaints Management Division, made this disclosure on Thursday in Abuja. He said the CBN would ensure that bank customers received redress on issues of excess charges or ... Read More »

CSR: UBA Foundation Brings Comfort to Students of Usman Danfodiyo University, Commissions Link Bridge

UBA Foundation, the Corporate Social Responsibility Arm of Pan- African financial institution, United Bank for Africa (UBA) Plc, has completed the construction of a pedestrian bridge primarily for students of the Usman Danfodiyo University, Sokoto State, thus bringing comfort to students of the institution. The construction of the bridge,  valued at about N13m was commissioned on Monday, by the Governor of ... Read More »

Buhari warns ECOWAS against hasty single currency implementation

President Muhammadu Buhari has warned member countries of the Economic Community of West African States against hasty implementation of the single currency programme being planned for the sub-region by 2020. He issued the warning on Tuesday during the fifth meeting of the Presidential Task Force on the ECOWAS Currency Programme in Accra, Ghana Buhari was represented by the Governor, Central ... Read More »

KPMG submits interim report on new data pricing

International consulting firm, KPMG, has submitted an interim report expected to lead to the determination of the new pricing of data services offered by mobile telecommunications companies operating in the country. Investigation by our correspondent showed that the firm, which was hired by the Nigerian Communications Commission, recently submitted an interim report and also made a presentation to the regulatory ... Read More »

Nigeria earned N972.3bn from VAT in 2017 – NBS

The National Bureau of Statistics on Wednesday released the sectoral report for Value Added Tax for the 2017 fiscal period, stating that the country generated a total of N972.34bn from VAT. An analysis of the VAT report showed that the amount was collected from 28 sectoral activities during the period under review. A breakdown of the amount showed that the sum of ... Read More »

Tax evasion: Adeosun seeks tougher sanctions against multinationals

The Minister of Finance, Mrs. Kemi Adeosun, on Monday called for tougher sanctions against multinational companies engaged in illicit financial flows and tax evasion. Adeosun, who stated this at the Platform for Collaboration on Tax Conference in New York, United States, also said there was a need to classify tax malpractices by multinational corporations in Nigeria and other developing countries ... Read More »

Mining grew by 2.24% in 2017 – Fayemi

The country’s mining sector grew by 2.24 per cent in 2017, the Minister of Mines and Steel Development, Dr. Kayode Fayemi, has said. Fayemi stated this at the opening session of a policy and capacity building workshop for senior officials of the ministry, professionals and stakeholders in the mining industry organised in collaboration with the Australian government. The minister, who ... Read More »

UBA contactless cards hit three million

United Bank for Africa Plc says it has issued over three million Near Field Communication technology-enabled contactless cards to its teeming customers. “UBA has revolutionised the payments landscape in Nigeria in 2015, with the introduction of contactless payment cards which enable customers pay with ease by leveraging the NFC technology,” it said in a statement on Monday. The NFC technology ... Read More »