Trade
Thugs invade northern coalition meeting in Kaduna, attack members
Armed thugs on Monday, invaded the Arewa House Kaduna, where officials of the Coalition of Northern Groups (CNG), were holding a security summit. A statement by Spokesman of the CNG, Abdulaziz Suleiman, said “We regret to announce that armed thugs numbering hundreds were unleashed on the Arewa House venue of the security summit hosted by the Coalition of Northern Groups on Monday, December 14. “The Summit aimed to discuss ways to achieve synergy between communities and government security and design a uniform approach to the current security situation in the North. “Participants at the meeting included retired military officers, Retired Police officers, religious leaders, traditional rulers, various women, youth and trade associations.” The CNG said just as the meeting was about to “kick o...
Profit taking persist on NSE, market capitalisation loses N232 billion
Nigerian stock market closed on a negative note for the fourth straight session on Thursday with the market capitalisation losing N232 billion. Specifically, the market capitalisation which opened at N18.304 trillion dipped N232 billion to close at N18.072 trillion. Also, the All-Share Index lost 464.00 points or 1.32 per cent to close at 34,557.26 compared with 35,021.26 achieved on Wednesday. Accordingly, month-to-date loss increased to 1.3 per cent, while year-to-date gain moderated to 28.8 per cent. The downward trend was also driven by price depreciation in medium and large capitalised stocks amongst which are; Lafarge Africa, Guinness Nigeria, Zenith Bank, Dangote Sugar Refinery and MTN Nigeria Communications (MTNN). Market breadth was strongly negative with 40 laggards, in relative ...
Minister: Industry, trade, investment key to economic diversification
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the sector is crucial in the drive toward diversification of the nation’s economy, away from being oil dominated. Adebayo spoke in Abuja at the Physical/Virtual 12th National Council on Industry, Trade and Investment meeting, with the theme “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 pandemic era”. He explained the pivotal role of the ministry as a key actor in the economy with the mandate to stimulate domestic investment and attract foreign direct investment into all sectors. The minister said it was committed in facilitating trade in goods and services and maximising benefits of international trade through functional bilateral and multilateral trade relations. Acc...
AU welcomes Nigeria ahead of AfCFTA kick-off
The African Union Commissioner for Trade and Industry, Albert Muchanga, said in Addis Ababa on Friday that instruments signifying Nigeria’s entry into the African Continental Free Trade Area (AfCFTA) will be received at the commission’s headquarters shortly ahead of next year’s kick-off of trading. Speaking during the AfCFTA Business Forum 2020 to discuss the status of preparations to launch the continental trading, Muchanga said the launch of trading will facilitate the growth of African enterprise and enhance the capacity of industries producing goods to a wider population. Nigeria, which signed the AfCFTA agreement in 2019, officially ratified the agreement on 12 November. The instruments of ratification are expected to be received at the AU on Saturday, 5 December, the deadline for the...
Indian farmers protest against farm laws
Police in India’s northern states Punjab and Haryana on Thursday had to stop the farmers at different inter-state borders from entering Delhi, who planned to protest against the recently passed farm laws. The protesting farmers contend that the three farm laws were detrimental to their interests. On the other hand, the federal government said the new laws aimed at “liberalizing” the farm sector and promising more incomes to farmers. A large number of farmers’ organizations in Haryana and Punjab states had called for a two-day protest in Delhi on Thursday and Friday. TV footages showed the farmers breaking the barricades installed by the police personnel. Some even threw the barricades into a river, while the police dispersed the farmers using water-canons and teargas shells. Thousands of f...
NDLEA seals off cannabis warehouse, seizes drugs worth N24 million
The Lagos Command of the National Law Drug Enforcement Agency (NDLEA) has clamped down on a Cannabis warehouse in Lagos state, seizing over five tons of Cannabis worth about N24 million The post NDLEA seals off cannabis warehouse, seizes drugs worth N24 million appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Company executive lands in court for violating broadcast rights
The Uyo Zonal Office of the Economic and Financial Crimes Commission, EFCC, on Thursday, November 19, 2020, arraigned Uzoma Udemba, Chairman and Chief Executive Officer of Communication Trends Limited on a three-count charge bordering on copyright infringement before Justice Agatha Okeke of the Federal High Court sitting in Uyo, Akwa Ibom State. The post Company executive lands in court for violating broadcast rights appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Nigeria ratifies membership of AfCFTA
The Federal Executive Council, FEC, on Wednesday ratified Nigeria’s membership of the Africa Continental Free Trade Area, AfCFTA, as the implementation of the agreement formally takes-off on January 1, 2021. This is as the Council has approved N62.7 billion for the construction of Kano-Dawakin-Tofa-Gwarzo-Dariyo road in Kano. Briefing State House correspondents at the end of the 23rd virtual FEC meeting presided over by President Muhammadu Buhari at the Council Chamber, Presidential Villa, Abuja, the Minister of Information and Culture, Alhaji Lai Mohammed, said whereas the implementation of the agreement was initially scheduled to commence in July, this year, the plan was stalled by the spread of COVID-19. Alhaji Mohammed, who briefed on behalf of the Minister of Industry, Trade and Inves...
Nigerian government exempts Dangote from border closure – report
The Nigerian government has allowed Dangote Cement to resume exports across its land borders, Bloomberg reports. This is despite the closure of all land borders by the government for over one year. The move has, however, raised hopes that Nigeria may be opening up trade with neighbors after a year-long blockade. The administration of the President Muhammadu Buhari gave its authorisation for Africa’s biggest producer to export cement to Niger and Togo in the third quarter for the first time in ten months, Michel Puchercos, chief executive officer, said on an investor call in Lagos. The export was made possible “through authorisation given by this administration,” he said. The exemption to Dangote Cement is seen as a softening of the government’s position on a border closure that started in ...
Arabic inscriptions on naira doesn’t threaten Nigeria’s secular status – central bank tells court
The Central Bank of Nigeria has vehemently opposed a suit before the Federal High Court in Lagos praying that the Arabic inscriptions on naira notes be removed. A Lagos-based lawyer, Chief Malcolm Omirhobo, who filed the suit before Justice Mohammed Liman, contended that having Arabic inscriptions on the naira notes portrays Nigeria as an Islamic state, contrary to the country’s constitutional status of a secular state. Omirhobo, who said he does not know what the Arabic inscriptions mean, is praying the court to order the CBN to replace the Arabic inscriptions with either English language, which is the country’s official language, or any of Nigeria’s three main indigenous languages – Hausa, Yoruba or Igbo. According to the lawyer, with the Arabic inscriptions on the naira note, the CBN ha...
Ex-Lagos governor discovers mystery camera at Lekki toll gate
The Minister for Works and Housing, Mr Babatunde Fashola, on Sunday, discovered a hidden camera at the Lekki Toll Gate, Admiralty Circle, in Lagos. Fashola, led a Federal Government delegation on the directive of President Muhammadu Buhari to commiserate with the Lagos State Governor, Babajide Sanwo-Olu, over the loss of lives and destruction of properties in the violence that rocked the state last week. Those in the FG’s entourage include: Ministers of Interior, Ogbeni Rauf Aregbesola, Mines and Industries, Olamilekan Adegbite, Niyi Adebayo, Trade and Investments and Olorunnibe Mamora, Health state. Also, some South West Governors such as: Ekiti, Ondo, Oyo, and Lagos States, Kayode Fayemi, Arakunrin Rotimi Akeredolu, Seyi Makinde, Babajide Sanwo-Olu, respectively, were on the inspection t...
