Union Bank targets institutional investors, to raise N20bn

U nion Bank is raising an additional N20 billion by issuing series 3 and 4 into the domestic capital market.     The decision was taken one year after it successfully raised N24.3 billion through the issuance of the series 1 and 2 of its N100 billion commercial paper programme.   The bank said it was mainly targeting institutional investors such as pension and non-pension asset managers, adding that some high net-worth investors could also apply.     In a statement signed by the Company Secretary, Somuyiwa Sonubi, the bank…

Read More

APCON refutes publication on Amotekun

Taiwo Hassan   T he Advertising Practitioners Council of Nigeria (APCON) has distanced itself from an online publication that indicated that it had thrown its weight behind the Western Nigeria Security Network (WNSN) codenamed Operation Amotekun.     In a statement by the Acting Registrar/Chief Executive Officer of the Council, Mrs. Ijedi Iyoha, on Monday, she explained that it was not only false but also an inconceivable act to bring APCON into disrepute.     The statement read in part: “The attention of the Advertising Practitioners Council of Nigeria (APCON)…

Read More

Infrastructure: ‘Improved commitment’ll check poverty’

LOW World Economic Forum’s 2019 Global Competitiveness Index ranked Nigeria 116 out of 141 countries     Dayo Ayeyemi N igerian government has been advised to create reforms, which put investment in infrastructure at the top in meeting growing demand of population, while promoting economic development and poverty reduction. According to the latest mid-January report on “Monthly Economic Outlook” by Bismarck Rewane-led Financial Derivatives Company (FDC), investing in infrastructure in other climes has proven to be a great tool for poverty reduction through its direct impact on incomes, and non-income…

Read More

Asia shares pause near high ground, oil jumps on Libya shutdown

Asian shares held near a 20-month top on Monday even as investors took some money off the table following a strong run recently, while oil jumped to more than a one-week high after two large crude production bases in Libya began shutting down. In early European trades, the pan-region Euro Stoxx 50 futures, German DAX futures and FTSE futures each added 0.1% while E-Mini futures for the S&P 500 inched up slightly. Turnover in Asian shares was light with U.S. stock and bond markets closed for the Martin Luther King…

Read More

African swine fever: China minister warns authorities

China’s agriculture minister urged authorities to prevent a recurrence in African swine fever outbreaks, according to a statement on the ministry’s website on Monday. Relevant departments must work to achieve this year’s pig production recovery goal, said Han Changfu, minister of agriculture and rural affairs. The African swine fever situation was stable in 2019, and control and prevention measures against the deadly disease were effective, Han added. Han also urged the authorities to strengthen on-the-ground checks of the data on pig production and make sure the data is reliable, reports…

Read More

African swine fever: China minister warns authorities

China’s agriculture minister urged authorities to prevent a recurrence in African swine fever outbreaks, according to a statement on the ministry’s website on Monday. Relevant departments must work to achieve this year’s pig production recovery goal, said Han Changfu, minister of agriculture and rural affairs. The African swine fever situation was stable in 2019, and control and prevention measures against the deadly disease were effective, Han added. Han also urged the authorities to strengthen on-the-ground checks of the data on pig production and make sure the data is reliable, reports…

Read More

African swine fever: China minister warns authorities

China’s agriculture minister urged authorities to prevent a recurrence in African swine fever outbreaks, according to a statement on the ministry’s website on Monday. Relevant departments must work to achieve this year’s pig production recovery goal, said Han Changfu, minister of agriculture and rural affairs. The African swine fever situation was stable in 2019, and control and prevention measures against the deadly disease were effective, Han added. Han also urged the authorities to strengthen on-the-ground checks of the data on pig production and make sure the data is reliable, reports…

Read More

Uduk: Why SEC’ll ban some accounts from trading

  Ms. Mary Uduk, Acting Director General of the Securities and Exchange Commission (SEC), in this interview with Chris Ugwu, speaks on knotty issues affecting Nigerian capital market     What are your expectations and outlook for Nigerian capital market in 2020?     The future for the Nigerian capital market is related to the outlook on the general economy. Various estimates of economic growth indicate the Nigerian economy should grow by about 2.9 per cent to 3.7 per cent in 2019. We also expect positive growth in 2020 as…

Read More

May & Baker: Resilience spikes earnings

In spite of challenging operating environment, May & Baker Nigeria Plc has recorded considerable performance in earnings. Chris Ugwu reports       N igerian economy has continued to experience volatility stemming from global financial pressure and political uncertainty.   The country’s economic landscape and headwinds in recent years have been challenging than the past years.   This is because the international price of crude oil, Nigeria’s major source of foreign exchange earnings, dropped significantly during the period.   This triggered shortage of foreign exchange that led the nation’s currency…

Read More

Contributors’ right amid rising pension assets

Since the inception of the Contributory Pension Scheme (CPS), there have been consistent efforts by the regulator and operators to enlighten contributors on the workings of the scheme and also expose them to their rights and obligations as they differ from the rested Defined Benefit Scheme. Sunday Ojeme reports       N o doubt, pension assets under the Contributory Pension Scheme (CPS) remains one of the fastest investment portfolios in the country. As at today, the assets have moved steadily without a trace of blemish from a few million…

Read More