Business & Economy - Page 162

By Ademola Tijani The Central Bank of Nigeria (CBN) has announced plans to implement a Retail Dutch Auction System (DAS) to address the increasing unmet foreign exchange (FX) demand from end users. According to a circular obtained by Daily Query, the

The Nigerian Exchange Ltd. (NGX) has lifted the suspension placed on trading of C & I Leasing Plc shares, effective Aug. 1. This information was contained in the weekly market report of the NGX, released to the media yesterday, August 2, in

The Central Bank of Nigeria (CBN) now allows next-of-kin, legal representatives or beneficial owners to claim balances from dormant accounts. In a recent release, the CBN clarified that next-of-kin can submit applications to financial institutions to retrieve unclaimed funds. These applications must

By Rukayat Adeyemi The Nigerian stock market experienced a mixed performance on Monday (yesterday, July 29), with the All-Share Index closing lower in spite of a significant boost to market capitalisation. The listing of 2.42 billion shares in a private placement by

Shareholders of Fidelity Bank Plc have unanimously approved the absorption of surplus funds arising from the potential oversubscription of its ongoing public offer. A statement from the bank on Monday in Lagos, said this was one of the six resolutions its Board

By Ademola Tijani The federal government has approved the sale of crude oil to Dangote Refinery and other emerging refineries in naira, in response to President Bola Tinubu’s proposal to the Federal Executive Council (FEC) to that effect. Currently, Dangote Refinery requires

L-R: Director, Public Affairs and Consumer Protection of NCAA, Nr Michael Achimugu; CEO/Founder of CITA Aviation Fueling Company Ltd. Dr Thomas Ogungbangbo; MD/CEO of NAMA, Mr  Umar Farouk;  Minister of Aviation and Aerospace Development, Mr Festus Keyamo (SAN); and Director of Public

The Federal Mortgage Bank of Nigeria (FMBN) has within 31 years delivered 39,000 new homes under the National Housing Fund (NHF) scheme, the bank’s Managing Director/Chief Executive, Mr Shehu Osidi, has disclosed. In a paper titled “Financing the Housing We Need: A New Dawn