Tag: Featured

Sigma Pensions boss advises youths on retirement

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The Managing Director and Chief Executive Officer, Sigma Pensions, Mr. Dave Uduanu, has urged youths to plan towards saving for their retirement early in a bid to achieving financial independence. He said this while speaking to youths at a master class session powered by Sigma Pensions at the Junior achievers Conference in Lagos. Uduanu also urged the participants to be disciplined in spending starting before they become working adults an also lectured extensively on the importance of starting to save towards retirement. He said: “By starting pension saving immediately you start working,…

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Access Bank, Nigerian Breweries partner on ‘Access The Stars’

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Access Bank and Nigerian Breweries (through Star Lager Beer) have announced, “Access The Stars”, a collaborative music platform to discover, groom and amplify the next generation of Nigerian talents. According to the two companies,  “Access The Stars is a new platform created for exceptional and aspirational Nigerians in the music industry to be discovered, refined, and empowered to reach higher heights by accessing their star potential. Successful artists will get to tour with the best of Nigerian artists on ‘The Trek’ across the country, giving the grassroots access to the stars…

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NSE signs MoU with LuxSE on green bond

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The Nigerian Stock Exchange (NSE) and Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to cooperate in promoting cross listing and trading of green bonds in Nigeria and Luxembourg. The announcement was made at the signing ceremony led by NSE CEO, Oscar Onyema, and LuxSE CEO, Robert Scharfe. The event took place yesterday during the annual meeting of the World Federation of Exchanges in Singapore. The MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practices and organising joint…

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Investors lose N102bn as stocks fall for seventh day

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The Nigerian equities market yesterday tumbled for seventh consecutive trading day as sell pressure remains unabated, producing 15 losers against 12 gainers. Key market indicators, the NSE ASI, declined by 0.79 per cent as bargain hunters remained on the sideline, following growing investment apathy. Consequently, the All-Share Index dipped 210 basis points or 0.79 per cent to close at 26,598.94 as against 26.809.92 recorded the previous day while market capitalisation of equities depreciated by N102 billion or 0.79 per cent to close at N12.948 trillion from N13.050 trillion. Meanwhile, a…

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World Bank cuts Nigeria’s growth forecast to 2.0%

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The World Bank has reviewed downward Nigeria’s economic growth forecast for this year to 2.0 per cent from its earlier projection of 2.1per cent in April. The bank, which stated this in its October Africa’s Pulse report, released yesterday, also projected that the country’s economy would expand by 2.1 per cent in 2020 and 2021, which are 0.1 and 0.3 percentage points lower than its April forecasts, respectively. According to the World Bank, multiple exchange rates, foreign exchange restrictions, high inflation, and low non-oil revenues among other obstacles, will ensure…

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Stakeholders seek sustainable fertiliser financing

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Key stakeholders in West Africa’s fertiliser sector are calling for more action to support the industry, which is central to the continent’s agricultural revolution. The call came out of the first West Africa Fertiliser Financing Forum, organized by the African Fertiliser Financing Mechanism and partners, and held at the African Development Bank (AfDB) in Abidjan recently. A major outcome of the forum was the signing of a Memorandum of Understanding between the West Africa Fertiliser Association and the Economic Community of West African States (ECOWAS). The agreement aims to strengthen the…

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Forex restriction: Dairy product import drops by 25.19%

 Dorothy Ewah

Following the Central Bank of Nigeria (CBN) restriction on foreign exchange for importation of certain products, Nigeria has witnessed a 25.19 per cent drop in importation of dairy products from New Zealand and three other countries.   New Telegraph reports that Nigeria imported N211billion ($578. 97million) worth of the product between 2017 and 2018.   Findings by New Telegraph revealed that the sharp drop had to do with CBN’s policy on foreign exchange restriction on the product, as statistics by International Trade Statistics (ITS) show that the country imported $331.19…

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NLC seeks collaboration to rid Lagos of sex workers

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REORIENTATION There is need to educate, reabsorb, counsel as well as empower them through vocational training to enable them live a more decent life     Following the shocking appearance of sex workers during the last Workers’ Day rally in Lagos, organised labour, under the aegis of Nigeria Labour Congress (NLC), Lagos State Council, is taking steps to collaborate with Lagos State Government, non-governmental organisations and other relevant agencies to re-orientate the sex workers and gradually rid the state of the ignoble profession.   Disclosing this to Newsfieldglobal, the Chairman…

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Labour tasks FG’s economic team on diversification

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  As Nigeria marks her 59th Independence anniversary, organised labour under the aegis of Trade Union Congress [TUC] has advised the newly created Economic team to work towards diversifying the economy for growth.   Lamenting the backwardness the country had been through in the last 59 years compared with countries like China and India, the labour centre in a statement signed by its President, Comrade Quadri Olaleye, and Secretary General, Comrade (Barr.) Musa-Lawal Ozigi, mni, advised the team to work to diversify the economy so the teaming youths can be…

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Oil blocs: NNPC, Agip firm up pact to end litigations

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  The Nigerian National Petroleum Corporation (NNPC) last weekend firmed up agreement with the Nigeria Agip Oil Company (NAOC) to end all litigations, which had over the years rocked Oil Mining Leases (OMLs) 60, 61, 62 and 63 and inhibited growth of the assets. The corporation, which declared this in a document obtained by New Telegraph, maintained that the step was taken to expeditiously grow Federal Government’s revenue and in turn boost the nation’s reserve base. Group Managing Director of the NNPC, Mallam Mele Kyari, who confirmed this, also said…

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