UNITY BANK PROMOTES CAREER DEVELOPMENT FOR YOUNG PROFESSIONALS
Unity Bank Plc has partnered with Young Professionals Breakfast Roundtable to mentor youths in career development.
Speaking at the 2018 edition of the youth programme in Lagos, Unity Bank’s CEO Mrs. Tomi Somefun, who was among the over 50 Chief Executives of companies and ventures that facilitated the programme, enjoined participants to see “pursuit for greatness as a process rather than a one-off-event”.
Read more…….. https://newsbreakers.ng/unity-bank-promotes-career-development-for-young-professionals/




35 STOCKS FALL, INVESTORS LOSE N154BN IN ONE DAY
The losses recorded by 35 stocks listed on the Nigerian Stock Exchange at the end of trading on Thursday wiped out a total of N154bn in investors’ wealth.
The NSE All-Share Index fell by 1.06 per cent to close at 39,723.85 basis points on from 40,150.55bps on Wednesday, while the market capitalisation of listed equities dropped to N14.389tn from N14.543tn on Wednesday.
The stock market has been falling since Thursday last week, as bearish sentiments lingered.
Read more……… https://newsbreakers.ng/35-stocks-fall-investors-lose-n154bn-in-one-day/




MANUFACTURERS HOPE ON NIGERIA-CHINA CURRENCY SWAP TO REDUCE COSTS
Manufacturers have expressed the hope that the proposed currency swap between Nigeria and China will go a long way in reducing their cost of doing business.

Specifically, textile manufacturers are optimistic that importing raw materials from China with the Chinese Yuan instead of the dollars would cut cost by over 50 per cent.
Expressing this optimism to our correspondent in a telephone interview on Wednesday, a leading textile manufacturer and Chairman, Gas Users Group, Manufacturers Association of Nigeria, Dr. Michael Adebayo, said that the currency swap might be one of the best decisions that the government had taken that would be of benefit to the manufacturing sector.
Read more…….. https://newsbreakers.ng/manufacturers-hope-on-nigeria-china-currency-swap-to-reduce-costs/



NDIC WARNS OF LOOMING BANK FAILURE
The Nigeria Deposit Insurance Corporation (NDIC) has said another bank failure is imminent in the country on the back of weak corporate governance culture and weak internal control.
The Managing Director, NDIC, Alhaji Umaru Ibrahim, stated this on Thursday at the FITC Thought Leadership Discussion Series in Lagos where he was represented by the corporation’s Executive Director, Operations, Aghatise Erediauwa.
He said, “Banks usually have a cycle of between seven to 10 years. If we have not had bank failure in 15 years, then they are bound to happen soon. Presently, we are worried that the cycle is almost complete.
Read more……. https://newsbreakers.ng/ndic-warns-of-looming-bank-failure/




INVESTORS LOSE N100 BILLION IN THREE TRADING DAYS
The dominance of the bears remains unabated in the equity sector of the Nigerian Stock Exchange (NSE), following continued price losses by virtually all the blue-chip stocks as investors’ wealth depreciated by N100 billion in three trading days.
Specifically, the market capitalisation of listed equities, which stood at N14,643 trillion at the reopening of trading on Monday, lost N100 billion or 0.7 per cent to close at N14,543 yesterday.
Also, the All-Share Index, which measures the performance of listed equities, dropped by 274.52 points to 40,150.55 from 40.425.07 at which it opened for trading on Monday. Yesterday, market breadth closed negative, with 15 gainers against 28 losers, a downturn occasioned by losses in medium and large capitalised stocks, among which are UAC of Nigeria, Chemical and Allied Products, Flour Mills Nigeria, Nigerian Breweries and Dangote Flour.
Read more……. https://newsbreakers.ng/investors-lose-n100-billion-in-three-trading-days/