Business Tips

Global shares stall as year draws to a close

World stocks stalled near record highs and currency markets were little changed on Monday as trading dwindled before the Christmas holiday and investors took profit on gains made this month.

The pan-European STOXX 600 index was down 0.14% by 0851 GMT, after nearing a record high in the previous session.

MSCI’s broadest index of Asia-Pacific shares outside Japan was near its highest since June 2018, up 0.05%.

UK provides $78m for youth empowerment in Nigeria

The United Kingdom says it is currently supporting initiatives to increase economic opportunities for marginalised youth in northern Nigeria with development funding worth nearly 50 million dollars (N15 billion).

Mr James Roscoe, the UK Ambassador on General Assembly Matters to the United Nations, stated this at a UN Security Council meeting on peace and security in West Africa, in New York on Monday.

Experts seek elimination of multiple tax audits

Capital market experts in Nigeria have called on the Federal Government to ensure the elimination of multiple tax audits to boost investment in the nation’s economy.

They made the call at the Sixth Triennial Delegates Conference themed “Elevating the Nigerian capital market for global visibility” organised by the Independent Shareholders Association of Nigeria (ISAN) in Lagos.

An expert and Partner of Financial Service Group, Mr Taiwo Okunade, said government must ensure the elimination of multiple tax audits currently discouraging investments.

FCMB produces more millionaires, empowers customers as season 6 of promo ends

The Season 6 of the First City Monument Bank (FCMB) bumper reward scheme tagged ‘’FCMB Millionaire Promo’’ has come to an exciting end with the grand finale draw. At the end of the promo, which ran from March to October this year, another set of 16 lucky customers of the Bank emerged as millionaires by winning cash ranging from N1million to N2million. In addition, 2,560 others won LED televisions, generating sets, decoders, tablets and smart phones.

Port congestion: Institute wants re-establishment of national carrier

The Life Patron, Nigeria Institute of Shipping (NIS), Mr Caleb Okoye, has called for urgent actions to decongest Nigerian ports and re-establish a national carrier for faster development of the shipping industry.

Okoye made the call at the Nigeria Institute of Shipping’s 9th Annual General Meeting and Awards held on Friday night in Lagos.

According to him, the country does not have a national carrier since the demise of the Nigerian National Shipping Line (NNSL).

Maritime Agency advocates dedicated Cargo Ports

As Africa continues to consider strategies for improving the efficiency of shipping in the continent, the Nigerian Maritime Administration and Safety Agency (NIMASA) has suggested the introduction of designated ports to handle particular cargoes.

Director- General of the agency, Dakuku Peterside made the call at the four-day Oil Trading and Logistics Expo (OTL 2019) held in Lagos, news agency Voice of Nigeria reports.

ECOWAS restates commitment to common market

The Economic Community of West African States, ECOWAS, has reiterated its commitment to consolidate on a common market for the region.

The President of the ECOWAS Commission, Mr. Jean-Claude Kassi Brou,  made the commitment in Abuja at a Diplomatic Cocktail organised by the Commission in honour of different partners of the regional body.

Mr. Brou noted that the common market for the region will be achieved through the application of the ECOWAS Common Tariff and the implementation of the Trade Liberalisation Scheme.

Recycling has potential for revenue –Expert

Prof. Nasir Idris, the Dean, Environmental Sciences, Nasarawa State University, Keffi has said Nigeria can generate revenue from recycling industry if put to proper use.

Idris made this known in an interview with the News Agency of Nigeria  in Abuja on Friday.

He, however, said that the recycling industry in Nigeria was still at an infancy stage compared with other parts of the world where countries were making billions of dollars through recycling.

FCMB Wins Excellence Award in Customer Experience as Adam Nuru Emerges CEO of the Year

First City Monument Bank (FCMB) Limited’s giant strides and impressive performance in service delivery and customer satisfaction in the Nigerian banking industry, have again been recognised. The latest is the conferment of the prestigious award of, ‘‘Excellence in Customer Experience Enhancement’’, on the Bank at the Finnovex West Africa Awards, held on October 22, 2019 in Lagos. In addition, the Managing Director of the Bank, Mr. Adam Nuru, emerged as the CEO of the year.