Business

OMO

A Hard Shift From Easy Money: CBN And OMO Restriction

February 5, 2020 6:22 am

 

The ripple effect of the Central Bank of Nigeria’s (CBN) decision to completely prohibit individuals and local firms from investing in both its primary and secondary Open Market Operations (OMO) auctions has continued to reverberate in the financial market.

The policy, coupled with the banking sector regulator’s decision to review downward, bank charges, which became effective at the beginning of the year, are all targeted at shifting both banks and fixed income investors away from easy money.

Read Also: China Speaks On ‘Visa Ban To Nigerians”

Presently, treasury bills rates have dropped to single-digit, from about 13 per cent …

Google

Google Says Glitch Sent People’s Videos To Strangers

February 5, 2020 6:21 am

Google on Tuesday said that a software glitch resulted in some Photo app smartphone videos being given to the wrong people.

Google was notifying those who may have been affected.

“We are very sorry this happened,” Google said in reply to an AFP inquiry.

“We fixed the underlying issue and have conducted an in-depth analysis to help prevent this from ever happening again.”

Read Also: China Speaks On ‘Visa Ban To Nigerians”

It was estimated that a small fraction of a percent of those who used a “Takeout” tool may have encountered the glitch, which affected people who used the

…
Nestle Nigeria

Nestle Nigeria, FG Collaborate To Boost Agriculture

February 4, 2020 4:09 am

The quest by Nestle Nigeria Plc to continue to ensure good nutrition for Nigerians and indeed the West Africa sub-region has seen it engaging the federal government in a collaboration that will boost agriculture and enhance quality of life.

The need for the collaboration came to the fore recently, when the Minister of Agriculture, Alhaji Sabo Nanono, undertook a familiarisation tour of Nestlé Nigeria Plc’s headquarters at Ilupeju, Lagos State.

According to the News Agency of Nigeria (NAN), for over 58 years, Nestle, one of the largest food and beverage companies in Africa, has been delighting consumers in Nigeria with …

NUPENG

NUPENG, Others Picket General Electric Over ARCO

February 4, 2020 3:58 am

Oil and gas workers under the umbrella of the Nigeria Union of Petroleum and Natural Gas workers (NUPENG), Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and the Trade Union Congress of Nigeria (TUC) yesterday picketed the Lagos office of General Electric (GE) over alleged non-refund of excess withholding tax and gratuity of employees of ARCO Group Plc.

The protesting workers in their large numbers as early as 4 a.m. blocked the entrance gate of GE’s office on Bishop Aboyade Cole Street, Victoria Island, Lagos, with their private cars, associations’ branded vehicles and a fully-loaded petrol tanker.…

UBA Revamps NextGen Account With Premium Offerings

February 4, 2020 3:56 am

The United Bank for Africa (UBA) Plc has revamped its NextGen account which targets students in tertiary institutions and members of the National Youth Service Corps (NYSC), with added features and benefits.

A statement from the bank yesterday, described the NextGen as a suit of personal accounts designed to meet the needs of young persons, grooming and growing with them from teenage stage to adulthood.

Under this product, the bank takes up an additional role of mentoring the young ones as well as assist them with tips towards guiding their future. The added benefits would confer premium services to the …

Manufacturing

Manufacturing: Momentum In Activities Slows In January

February 3, 2020 11:05 am

According to the Purchasing Managers Index (PMI) data released by the Central Bank of Nigeria (CBN) for the month of January, the momentum in the level of activities cooled in both the Manufacturing and Non-manufacturing sectors.

Specifically, the Manufacturing-PMI for the month of January slowed to 57.9 index points (December; 60.8 index points), following broad-based declines in all of the five major indices; Production level ( -2.2), New orders (-1.8), Raw materials/WIP Inventory (-1.7), Supplier delivery time (-1.4) and Employment level (-0.7) used in gauging the manufacturing sector.

The decline reflects the waning momentum that characterizes business activities at the …

Gross Profit vs Net profit

Gross Profit Vs Net Profit: What You Should Know

February 3, 2020 11:00 am

Most business owners understand profitability from a fundamental standpoint. If the revenue from sales covers your expenses, you’re turning a profit. Profits mean positive cash flow. Positive cash flow helps keep your business in operation. However, business owners should look beyond a simple profit naira amount. By calculating and comparing metrics, owners can identify the areas of the business that are working well, and those that need improvement. Get the full scoop on gross profit vs net profit with this guide.

Gross Profit vs Net profit

Before we get into the difference between gross profit and net profit, let’s …

Jaiz Bank

Courteville, Jaiz Bank, Transcorp Lead Gainers’ Chart

February 3, 2020 10:58 am

Courteville Business Solutions, Jaiz Bank, Champion Breweries, Transcorp and Oando made the list of top gainers in the Nigerian Stock Exchange on Friday.

The stock market, however, extended its bearish trend on Friday as the all-share index dipped 0.65% to close at 28,843.53 index points leaving the equity market capitalisation at N14.86 trillion.

Top gainers

Courteville led the gainers with 9.52% to close at N0.23 followed by Jaiz bank, which gained 9.09% to close at N0.72. Champion Breweries recorded 6.59% gain to close at N0.97, Transnational Corporation gained 4.3% to close at N0.97 while Oando gained 2.78% to close …

Britain

Brexit: Britain Seeks Closer Economic Ties With Africa

February 1, 2020 6:40 am

Lagos, Nigeria (CNN Business Britain is leaving the European Union on Friday, starting the clock on an 11-month transition period during which the country will try to sign as many new trade deals as possible. African countries are a prime target.

The UK government has said that it will prioritize trade negotiations this year with the European Union, but it has also made early overtures to countries such as Mozambique and Ghana. Prime Minister Boris Johnson clearly wants closer economic ties with Africa.
“We in the UK have a vital job in continuing to convince people across the continent that
…

First Google Developers Space Opens In Lagos

January 29, 2020 4:40 pm
Google has launched its first Google Developers Space in Lagos, Nigeria, yesterday. Previously referred to as the Google Launchpad Space, the Google Developers Space is a hub for African developers, entrepreneurs and startups.

Google CEO, Sundar Pichai, made a commitment to African entrepreneurs In July 2017,  to start the Launchpad Accelerator Africa programme and launch a space to house these efforts in Nigeria.

Google launched the Google Developers Space in Lagos yesterday to provide that home, a space where entrepreneurs, developers, VCs and investors can connect and collaborate with each other.

“Google is strengthening its commitment to supporting the entrepreneurial

…

Vivo Continues To Stand Out With Innovations

January 29, 2020 4:40 pm

Every day, something new is either created or discovered, this shows that technology is not static and, to survive in any market, innovation, and adaptability is important. These, alongside several other characteristics, make certain smartphone brands like Vivo, Apple and Samsung to stand out from among their competitors.

The Vivo smartphone brand had its global debut in 2009 and it has since then built a name for itself in innovation and with the launch of its different product series, each boasting new, unique features, little wonder the brand is now regarded as one of the top 5 smartphone brands in …

Frank Money Talk With Onyeka Chiemelie

January 29, 2020 7:37 am

 

Money will run after any viable business at all.

This negates the agelong, lifeless cliche that we need to get money first to start up anything productive.

Your headache as a budding Entrepreneur must be that you start something that can be financially gratifying and worth patronage over time. Something worth investing on. Let me state this clearly, money is not the main thing in starting a business.

Read Also: How To Launch A Profitable Startup In 2020

Focus more on the following below.

Character :

Your personality trait would seep out and if you are a dishonest person …

TRENDING

Breaking

𝐀𝐟𝐫𝐢𝐜𝐚 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐍𝐞𝐰𝐬, 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤, is a nonpartisan online news portal founded on the truth to provide you with weekly, insightful articles written with precision and current updates on current events from Africa in particular and the rest of the world in general. All of our reports undergo extensive fact-checking to ensure their veracity, and we adhere strictly to the facts, no matter whose ox is gored.

follow on social media

Facebook Twitter Youtube Telegram Linkedin

subscribe to newsletter

© 2018 - 2020 Africa digital news, New York
Powered by

People and Polity