Finance articles

SEC Dissolves Ikeja Hotels Plc board,appoints interim team

SEC Dissolves Ikeja Hotels Plc board,appoints interim team

The Securities and Exchange Commission (SEC) has announced the dissolution of the board of Ikeja Hotels Plc due to unresolved internal crisis involving some majority shareholders of Ikeja Hotels Plc The Commission said this proactive measure has become necessary in order not to allow the warring parties take certain actions that would give them an

FG reverses forex restrictions for schools fees, medical tourism, business travels, others

The Central Bank of Nigeria(CBN) has reversed it policy restriction on foreign exchange (forex)and has ordered banks to set up forex kiosks at airports. This policy reversal was made public via a statement by Isaac Okoroafor, the Apex Bank’s spokes man. SEE STATEMENT BELOW: “In continuation of efforts to increase the availability of Foreign Exchange

Fayose threatens to sue FG over Eurobond, likens APC to biblical prodigal son

Ayodele Fayose, governor of Ekiti state, has compared the All Progressives Congress (APC) to the “biblical prodigal son”. Expressing concerns over the plan of the current administration to lend $1bn Eurobond, Fayose threatened to sue the federal government over the issue. He said he was worried that the deal could plunge the country into more

Nigeria’s 3rd Eurobond issue over-subscribed despite economic crisis

In spite of the gloom on the country’s economy, investor confidence in Nigeria remains high as the $1 billion Eurobond issued by the federal government on Thursday was over-subscribed by almost eight times. The over-subscription was with orders in excess of $7.8 billion compared to a pre-issuance target of $1 billion. The bond, issued under

South Africa introduces $260 minimum wage as Nigeria’s remains stuck at $60

South Africa will introduce a national minimum wage of 3,500 rand ($261) per month in 2018, Deputy President Cyril Ramaphosa said on Thursday, according to a Reuters report. The announcement follows protracted negotiations between the government and labour unions. Nigeria’s current minimum wage is N18,000 ($60) with organised labour asking it be increased to at

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