Connect with us

Economy

Dangote Cement Promo: 5 emerge winners in Edo

Published

on

Five lucky persons on Sunday emerged winners in Dangote Cement Plc. `Win Big in the Dangote Bag of Goodies’ consumer promo.

Nigeria News Agency reports that Momoh Ali and Evbuomwan George won GAC Saloon cars each, while Edigi Precious, Albert Elugie and Okwezi Azuka won a television set and two refrigerators, respectively.

Presenting the items to the winners, the company’s External Executive Director, Mrs Ufot Dorothy, said that the promo was part of the company’s social responsibility to its distributors, retailers, wholesalers and consumers, who had contributed to the company’s growth.

“We are here to fulfill our promise. This is part of our efforts to encourage our customers to keep patronising us and the promo runs till September,” she said.

According to her, the presentation of the items shows that Dangote group keeps to its promise of rewarding loyal customers and there are several other prices to win in the promo.

Earlier, Mrs Funmi Sanni, the company’s Marketing Director, said that of the 43 cars to be won, nine had so far been won, while 32 had yet to be won.

Sanni put the monetary value of the promo at about N50 million, adding that the promo had already taken place in seven states.

Responding on behalf of the beneficiaries, Ali commended the cement company for the promo, adding that the gift items would change their lives positively.

“With just 10 bags of cement, I am now a proud owner of GAC Saloon car. Today is the happiest day of my life,” he said.

 

 

 

 

 

 

Economy

CBN injects $297.92 into secondary market

Published

on

The Central Bank of Nigeria (CBN), has injected  297.92 million dollars into the retail Secondary Market Intervention Sales (SMIS).

The bank’s Director, Corporate Communications Department, Mr Isaac Okorafor made this known in a statement in Abuja on Friday.

Okarafor disclosed that CBN also injected CNY21.2million in the spot and short-tenured forwards segment of the inter-bank foreign market.

According to him, the United States dollars-denominated transactions are to meet requests in the agricultural and raw materials sectors, while those in Chinese Yuan are for Renminbi-denominated Letters of Credit.

The director reiterated that the bank’s management was satisfied with the continued stability in the foreign exchange market.

He assured that the CBN remained committed to meeting  foreign exchange needs of all sectors of the economy.

Meanwhile, N358 was exchanged to a dollar, while CNY1 exchanged at N46 at the Bureau De Change (BDC) segment of the foreign exchange market on Friday.

Continue Reading

Economy

No electricity tariff increase has been approved yet —— NERC

Published

on

The Nigerian Electricity Regulatory Commission (NERC), says no tariff increase has been approved by the commission yet.

In a statement, Mr Usman Arabi, NERC’s General Manager, Public Affairs, however,  in a statement on Friday in Abuja said it was still consulting with stakeholders.

He said that the commission  wished to notify the public that no tariff increase had been approved by the commission contrary to the impression in some quarters.

“However, the commission in the discharge of its statutory responsibilities enshrined under the  Electric Power Sector Reform (EPSR) Act, shall continue to undertake periodic reviews of electricity tariffs in accordance with prevailing tariff methodology.

`In all instances of such reviews and rule-making, the commission shall widely consult stakeholders and final decision shall be  taken with  due regard of all contributions,” he said. .

Arabi said that the commission wished to provide guidance that the minor review implemented by the commission was a retrospective adjustment of the tariff regime released in 2015

He said that this was to account for changes in macroeconomic indices for 2016, 2017 and 2018, “thus providing certainty about revenue shortfall that may have arisen due to the differential between tariffs approved by the regulator and actual end-user tariffs,” he said

 

Continue Reading

Economy

NSE: Market indices upbeat, up by 0.62%

Published

on

Trading on the Nigerian Stock Exchange (NSE), for the third consecutive days, maintained a bullish trend to close the week upbeat.

The Nigeria News Agency reports that the crucial market indices on Friday appreciated further with a growth of 0.62 per cent.

Specifically, the market capitalisation of listed equities inched N33 billion or 0.62 per cent to N13.524 trillion from N13.441 trillion achieved on Thursday.

Also, the All-Share Index rose by 170.51 points or 0.62 per cent to close at 27, 800.17 points against 27,629.66 posted on Thursday.

An analysis of the price movement table shows that Nestle led the gainers’ table, growing by N10 to close at N1, 230 per share.

Unilever followed with a gain of N2.45 to close at N29.45, Guaranty Trust Bank gained 90k to close at N27.90 per share.

Forte Oil improved by 66k to close at N16, while C & I Leasing also added 60k to close N7.30 per share.

Conversely, Dangote Cement Industry recorded the highest loss to lead the losers’ table, declining by 50k to close at N166.50 per share.

Continental Reinsurance trailed with a loss of 10k to close at N1.50, while Dangote Sugar Refinery was down by 10k to close at N1.30 per share.

Triple Gee lost 7k to close at 63k, while Unity Bank declined by 6k to close at 63k per share.

Similarly, the volume of shares traded closed higher with a total of 1.24 billion shares valued at N3.29 billion in 3,644 deals.

This was in contrast with 272.60 million shares worth N4.49 billion exchanged in 3,425 deals on Thursday.

Sovereign Trust Insurance Plc was the most active stock, trading 900.02 million shares valued at N216 million.

FBN Holding followed with an account of 80.12 million shares worth N401.08 million, while Courtville traded 55.07 million shares valued at N12.11 million.

Access Bank sold 36.42 million shares worth N236.89 million, while Transcorp exchanged 34.56 million shares valued at N36.94 million.

JNC/GOK

Edited by Olagoke Olatoye

Continue Reading

Economy

Multiple subscriptions: SEC regularises over 3.4bn shares

Published

on

Continue Reading

Economy

FMDQ’s transition to full exchange will create competition – SEC

Published

on

Continue Reading

© 2019 NNN NEWS NIGERIA. All Rights Reserved.