May 6, 2020 - Newsfield GLOBAL

NNPC slahses ex- depot price of petrol

May 6, 2020 admin

The Nigerian National Petroleum Corporation (NNPC) Wednesday announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities as well as in its through put operations. A release in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan, as saying that the new ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, reflects the company’s market strategy to make…

Oil bid round: Coalition of civil society groups seeks transparency

May 6, 2020 Ose Ojeme

PRECISION Oversight of the processes should be provided by the National Assembly and auditing by NEITI Following Federal Government’s intention to conduct fresh licensing bid round for Nigeria’s marginal oil fields, Civil Society Organisations (CSOs) and extractive industry media group, Media Initiative on Transparency in Extractive Industries (MITEI) have advised the Federal Government to ensure transparency in the entire process. The advice formed part of the resolution reached at the end of a one-day workshop on “Improving Transparency in the Oil licensing Process organised by the…

Wema Bank’s ALAT celebrates anniversary

May 6, 2020 admin

Wema Bank Plc digital bank, ALAT by Wema, is celebrating three years of delivering financial services. The bank in a statement made available to newsmen said ALAT had strategically positioned itself as a fast, reliable and convenient banking solution and will continue to align itself with evolving user habits and preferences, especially when users are quickly adjusting to a world where speed, efficiency and multiplicity will be the new normal. “Known for reinventing the narrative in the delivery of financial services and experiential banking in Africa,…

Nigeria should take advantage of AfCFTA delay’

May 6, 2020 admin

As reactions continue to trail the recent announcement by the Secretary-General of the African Continental Free Trade Area (AfCFTA) secretariat, Wamkele Mene, that the implementation of the agreement will not begin on July 1, 2020 as planned due to disruptions caused by the coronavirus (COVID-19) pandemic, analysts at CSL Research have urged Nigeria to take advantage of the development to speed up growth in critical infrastructure. The analysts stated this in a note obtained by New Telegraph yesterday. The AfCFTA agreement, which is aimed at boosting…

FCMB shareholders endorse N2.77bn dividend

May 6, 2020 admin

Shareholders of FCMB Group Plc have approved payment of a cash dividend of 14 kobo per ordinary share, which translates to N2.77 billion, for the year ended December 31, 2019. The shareholders, who gave the endorsement at the 7th Annual General Meeting (AGM) of the group in Lagos, also applauded the financial institution for its resilience, dynamism and impressive performance recorded last year despite the challenging operating environment. The AGM was held by proxy, following the outbreak of Coronavirus pandemic, and streamed live via www.fcmb.com/AGM to…

COVID-19: Quickteller Paypoint to provide support for agents

May 6, 2020 admin

Members of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) have been assured of continued support for Quickteller Paypoint Agents during the ongoing global COVID-19 crisis. This assurance was given by Titilola Shogaolu, Divisional CEO, Interswitch Financial Inclusion Services (IFIS), at a virtual forum organised recently by the Association, for its members. Expressing her profound gratitude to AMMBAN, she commended the association for putting the forum together at a time like this, when the COVID-19 pandemic has disrupted so many businesses across…

Report attributes decline in Nigeria’s PMI to COVID-19

May 6, 2020 admin

The recently released April version of the Stanbic IBTC Bank’s Nigeria Purchasing Managers’ Index (PMI) has said that the decline in activities in the private sector is due to disruptions caused by the coronavirus (COVID-19) pandemic. According to the report, the Nigeria PMI headline sank to 37.1 index points in April 2020 compared to 53.8 index points recorded in March. New orders, output and employment witnessed sharp falls as prices rise amid supply chain disruption. The Nigeria PMI report reflects economic indicators gotten from monthly surveys…

NSE advances with N174bn gain

May 6, 2020 admin

The bulls maintained grip on stock market activities yesterday as stocks sustained rallies for eight trading sessions following gains recorded by blue chip stocks as investors positioned to leverage on undervalued stocks. The key market performance measures, the NSE All Share Index and market capitalisation, rose by 1.40 per cent as market sentiments extended gaining streaks following investors’ sustained optimism on undervalued stocks. Consequently, the All-Share Index gained 334.06 basis points or 1.40 per cent to close at 24.143.37 as against 23.809.31 recorded the previous…