Category: News

Moody’s updates credit opinion on Sterling Bank

For its resilient deposit-based funding profile, fair local currency liquidity buffers and growing retail product suite, Moody’s Investors Service has assigned a Counterparty Risk Assessment of B2 (CR) /Not Prime (CR) to Sterling Bank Plc for the month of June 2018. The upgraded rating, which also affirms the bank’s improved risk management process and IT…

SEC Assures Foreign Investors of Dynamic and Transparent Market

L-R,  Executive Director, J.P Morgan, Mr Nick Long, Acting Director General, Securities and Exchange Commission, Ms Mary Uduk, Chief Executive Stanbic IBTC, Mr. Akeem Oyewale and Acting Executive Commissioner Operations SEC, Mr. Isyaku Tilde during a meeting between SEC and JP Morgan in Abuja at the weekend The Securities and Exchange Commission (SEC) Nigeria, has…

Manufacturing sector grow by 0.14 percent in 2017 Q4 as against the corresponding quarter in 2016 -MAN

  Lagos: The Manufacturers Association of Nigerian (MAN) in her executive summary of second half reports of 2017 released showed that the manufacturing sector output grew by 0.14 percent in the fourth quarter of 2017  up from -2.54 percent recorded in the corresponding quarter of 2016;  thereby by indicating 2.68  percentage point increase  over the …

Eko Disco raises alert over extortion of customers by illegal group

The Eko Electricity Distribution Company Plc ( EKEDC) has raised alarm over some illegal group extorting money from customers under the guise of fighting for electricity customers rights. Godwin Idemudia, the General Manager, Corporate Communications of the company warned customers to desist from patronising such unregistered group who are out to defraud customers. Idemudia disclosed…

Nigeria will not support additional oil supply by OPEC – Kachikwu

The Minister of State for Petroleum Resources, Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Kachikwu made the country’s position known in an interview with journalists on Thursday ahead of the 174th Meetings of the OPEC Conference and the OPEC and non-OPEC Ministerial meeting…