[Headlines] Nigeria Business News

1.States’ external debt rose by N270bn in five years – DMO:

The 36 states of the federation and the Federal Capital Territory grew their external debts by $1.37bn (N270bn at the current interbank exchange rate of N197 to a dollar) in five years, investigation has shown.
2.SEC receives 1,500 petitions on bank charges, others:
In the last one month, the Securities and Exchange Commission has received over 1,500 complaints from shareholders of quoted companies, investigations have revealed.
3.Stanbic IBTC Pension’s assets hit N1tr:
Stanbic IBTC Pension Managers Limited, a Pension Fund Administrator (PFA), has recorded over N1trillion worth of assets in 10 years, the Chief Executive of the company, Eric Fajemisin has said.
4.‘Lagos positions SMEs for economic diversification’:
The Lagos State government has put in place a framework to ginger Small and Medium Enterprises (SMEs) to perform optimally in a conducive environment, its Commissioner for Commerce, Industry and Cooperatives, Prince Rotimi Ogunleye, has said.
5.Zenith Bank in N2.3b private shares deal:
A total of 210 million ordinary shares of 50 kobo each of Zenith Bank International Plc valued at N2.3 billion were sold at discount at the weekend in nine pre-arranged transactions that were merely formalised through the Nigerian Stock Exchange (NSE).
6.Dangote’s $500m Okpella cement plant takes off:
Dangote Cement has announced the take-off of the construction of its three million metric (3MT)  tonnes cement plant in Okpella, Edo State.
7.We are outsourcing to drive growth, says Berger Paints
Berger Paints Nigeria Plc is outsourcing its depots and launching a franchisee scheme to ensure more availability of its products and to drive growth in the years ahead.
8.Nigerian Capital Market Lost N1.63trn In January – Survey:
The Nigerian stock market lost more than N1.63 trillion in January 2016 due to profit-taking and currency volatility, statistics from the Nigerian Stock Exchange (NSE) showed on Thursday.
9.China Set To Invest $60bn In Nigeria:
The People’s Republic of China has said that it will invest $60 billion in Nigeria as part efforts to further deepen existing relations between both countries and further integrate sustainable development in the country.
10.SEC to penalise banks charging fees for e-dividend registration:
The Securities and Exchange Commission, SEC, is to penalize Deposit Money Banks and Capital Market   Registrars for charging fees in the on-going e-dividend registration exercise.
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