Vitafoam Shareholders to Share N525m Dividend

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Adedapo Adesanya  The Central Bank of Nigeria (CBN) has disclosed that the total value of the country’s merchandise trade experienced an increase of 1 per cent to $7.8 billion in August 2023 from the $7.72 billion that was quoted in July. This was disclosed by the apex bank in its latest monthly economic publication, where it disclosed that despite the rise month-on-month, Nigeria’s merchandise trade value in the period was almost 20 per cent lower compared to the value in August 2022 due to a significant decrease in import trade value. The total merchandise trade comprised an export trade

By Adedapo Adesanya The Naira recovered from the previous day’s loss after closing stronger against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 7, by 11.4 per cent or N108.15 to trade at N843.07/$1 compared with the previous day’s rate of N951.22/$1. This occurred as the value of foreign exchange (FX) transactions slightly increased during the session by $1.67 million or 39.5 per cent to $137.25 million from the $135.58 million achieved in the preceding trading session. Similarly, in the official market, the Nigerian Naira strengthened against the British Pound Sterling on Thursday by

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange closed 0.15 per cent in the positive territory on Wednesday, December 6 as it extended its streak to a third day spurred by gains in three bellwethers. 11 Plc recorded a N16.00 appreciation to sell at N176.00 per share compared to the previous day’s N160.00 per share, Central Securities Clearing System (CSCS) Plc gained 43 Kobo to settle at N17.51 per unit versus the preceding day’s N17.08 per unit, and FrieslandCampina Wanco Nigeria Plc rose by 20 Kobo to close the day at N72.89 per unit, in contrast to Tuesday’s closing

By Dipo Olowookere Heritage Bank Plc is beginning to reap the reward for supporting agriculture and small and medium scale enterprises (SMEs) in the country. This is because recently, the lender carted away with three prestigious awards when it was announced as the ‘Best SME Bank Nigeria 2018’ by Capital Finance International (CFI.co) and ‘Agriculture Bank of the Year 2018’ by the Nigeria Agriculture Awards (MAA). Also, the bank was awarded the Best CIBN Chapter of the Year 2018. The best chapter in terms of members mobilisation and participation as well as sponsorship of the Institute programmes. The bank won

By Dipo Olowookere Africa’s Best Airline for 14th consecutive years, South African Airways (SAA), will from December 11, 2016, bring new travel experience to Nigerian travellers with the introduction of brand new A330-300 aircraft on the Lagos-Johannesburg route. The SAA A330-300 aircraft deployed to the Lagos-Johannesburg route is one of the five new state of-the-arts, environmentally friendly, super-comfortable aircrafts that the airline has acquired to improve its service offering for passengers’ memorable journey. Aboard the SAA new A330-300 aircraft, Nigerian travellers will enjoy brand-new 46 Premium Business Class and 203 Economy Class seats with warm, neutral colours and cabin furnishings

By Adeniyi Ogunfowoke Everyone has those days, the ones when you look in the mirror and just don’t love what you see. Whatever your skin issue is, there are ways to fix it that go beyond seeing dermatologists or applying moisturising creams. In fact, revamping your skin can be easier than all that. Sometimes all you have to do is to say goodbye to your skin hang-ups is to make simple dietary changes. This said, Jumia Food, Nigeria’s no 1 food ordering platform shares the things your skin is telling you about what you eat. Acne Foods that are high in

By Modupe Gbadeyanka At least goods worth over N450 million were lost to a fire incident that occurred at the warehouse of Erisco Foods Nigeria located inside the Eleganza House in Ikeja, Lagos on Tuesday morning. Addressing newsmen after the incident, General Manager of Erisco Foods, Mr Tokumbo Agbede, explained that the fire affected two sections of the warehouse containing stocks of dried tomatoes which serves as the major raw material used in the production of tomato paste by the company. Mr Agbede disclosed that the prompt intervention of officials of the Lagos Fire Service did not allow the entire

By Ayomide Oriade In every sphere of human endeavour, the year 2020 alone has served up events and happenings that would have conveniently filled for three or four years combined. On a global scale, COVID-19 brought economic activities to a halt for weeks. Even the strongest economies of the world are not left out. The emerging post-COVID era is proving to be survival of the fittest. The effect on businesses has been dire, especially for SMEs. Many small businesses could not survive the lockdown. Those who managed to scale through are still picking up the pieces. Consumers are also feeling

By Dipo Olowookere The local currency appreciated this week against the United States Dollar the various segments of the foreign exchange market. At the Bureau De Change (BDC) and parallel market segments, the Naira was strengthened by 0.55 percent and 0.27 percent to close N360/$ and N364/$ respectively. Also, the local currency further appreciated at the Investors & Exporters forex window by 0.01 percent to close at N364.50/$. The positive performance put up by the local currency across the market segments this week came amid increasing external reserves that rose by 0.14 percent to settle at $43.23 billion as at

By Dipo Olowookere Reports that the outbreak of Monkey Pox in some parts of the country resulted from a recent free medical care offered in Bayelsa State by the government have been rubbished by the Federal Government. In a statement issued in Abuja on Sunday, Minister of Information and Culture, Mr Lai Mohammed, described the reports as “fake.” He appealed to Nigerians to disregard the report which he said was “apparently being spread by some unscrupulous persons to fit into a sinister agenda.” According to him, “Federal Government has not conducted any free medical service or care in either Bayelsa