Aviation professionals petition minister over N120bn pension fund

Pilots and flight engineers partner firm on database

Aviation professionals petition minister over N120bn pension fund   The Association of Nigeria Aviation Professionals (ANAP) has expressed concern over the inability of workers at the Federal Airports Authority of Nigeria (FAAN) to access their over N120 billion pension funds as a result of poor documentation. The situation has been heightened by the devastating effects of COVID-19 that has wreaked havoc leading to dwindling revenue in the aviation agency. The association said that workers would not fold their arms and watch their revenue nose diving after the havoc wrecked by…

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Dangote Cement completes share buyback first tranche with 40.20m shares

Dangote Cement Q4 2020 Results

Dangote Cement completes share buyback first tranche with 40.20m shares   Dangote Cement Plc has announced the completion of the first tranche of its share buyback programme. According to a statement by the Deputy Company Secretary, Edward Imoedemhe, the commencement date was December 30, 2020 while completion date was December 31, 2020. Total number of shares repurchased was 40.20 million at an average price of N243 per share, representing 0.24 per cent of the company’s issued and fully paid ordinary shares while total value of shares repurchased was N9.77 billion.…

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Equity market rebounds with N16bn gain

Large-cap stocks lift Nigerian stock market by N245bn

Equity market rebounds with N16bn gain   The equity market, on Monday, returned to positive territory as the Nigerian Stock Exchange All-Share Index  (NSEASI) and market capitalisation rose by 0.08 per cent. The market breadth closed on a positive note with 28 gainers against 24 decliners. The ASI grew by 30.56 basis points or 0.08 per cent from 40,120.22 basis points last Friday to 40,150.78 basis points on Monday while the market capitalisation of equities appreciated by N16 billion to close at N20.99 trillion from N20.98 trillion. On the activity…

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Analysts forecast 0.51% spike in December inflation

December inflation Border reopening

Analysts forecast 0.51% spike in December inflation   As Nigerians await the latest official inflation figure from the National Bureau of Statistics, analysts at Financial Derivatives Limited (FDC) have forecasted 15.4 per cent inflation rate According to analysts “Based on our survey and regression model, headline inflation is expected to increase by 0.51 per cent to 15.4per cent in December 2020. This will be the highest level in three years. “The continued rise in the general price level is driven largely by forex rationing, output and productivity constraints, higher logistics and distribution…

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INNOVATION: FirstBank unveils virtual payment card

Most Admired Financial Services Brand in Africa

INNOVATION: FirstBank unveils virtual payment card   First Bank of Nigeria Limited says it has launched a virtual payment card, a naira-denominated debit card and digital representation of the plastic debit card. A statement from the bank on Sunday, titled ‘FirstBank begins the year with an innovative, convenient virtual payment card’, said the card was designed to be linked to either a customer’s operative account or wallet account. It said, “The FirstBank virtual payment card is a suitable alternative to the use of cash and cheques, with its wide-range features,…

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Don’t fall victim of fake App for NIN registration, NIMC warns Nigerians

NIN enrolment reaches 54m

Don’t fall victim of fake App for NIN registration, NIMC warns Nigerians   The National Identity Management Commission (NIMC) has warned the public to be wary of a fake app that claims to help link the National Identity Number (NIN) to SIM cards. In a post on its Twitter handle, NIMC dissociated itself from the app saying it is run by fraudsters who use it to harvest people’s NIN and Bank Verification Number. “The app was not created by NIMC or the Federal Government of Nigeria. It is run by fraudsters who are currently…

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Murtala Mohammad Airport records 551,380 passengers in five months

Murtala Mohammad Airport

Murtala Mohammad Airport records 551,380 passengers in five months   The Murtala Mohammad Airport, Ikeja, domestic terminal, recorded a total of 551,380 passenger movements (landing and take-off) between July and December 2020. Speaking in an interview with journalists, the Terminal Manager of the airport, Mr Adekunle Aderibigbe, said passenger numbers were impressive despite the effect of the COVID-19 pandemic. According to the statistics released, inbound passengers recorded 270,828 while departures stood at 280,552 passengers. He said that 3,068 aircraft landed at the airport between July and December 2020 while 3,193…

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560m youths to deepen Africa’s smartphone penetration – Report

smartphone penetration

560m youths to deepen Africa’s smartphone penetration – Report   The number of youths driving smartphone usage in Africa has been projected to increase by 30 per cent in the next decade, thus, bringing the number to 506 million. This, according to a recent report released by Counterpoint Research stated that there has been tremendous change in African technology sector in the last decade which is mainly driven by infrastructure as well as social factors. “Many of the countries are no longer technology barren lands, as steadfast urbanization and widening…

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Mixed performance may continue on interests in undervalued, dividend stocks

Dividend Stocks

Mixed performance may continue on interests in undervalued, dividend stocks Market Update for January 11 By Investdata Analysts Transactions on the Nigerian Stock Exchange kicked off the week on a positive note, thereby halting the loss of the previous session with investors taking stronger buying interest in medium and low cap stocks on positive sentiment. The composite All-Share index on Monday had a slightly bullish session, at a time of rising oil price in the international market in apparent reaction to the plan by OPEC to effect further production cut…

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