BusinessDay 14 Oct 2019

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Sanwo-Olu launches Financial Centre for Sustainability, Lagos

Iheanyi Nwachukwu

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n F r i d ay , O c t o b e r 4 , 2019, Babajide SanwoOlu, governor of Lagos State, officially launched the

… FMDQ to serve as secretariat Financial Centre for Sustainability, Lagos (FC4S, Lagos) at a prestigious event which held at FMDQ’s business complex,

news you can trust I * * MONDAY 14 OCTOBER 2019 I vol. 19, no 413

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Exchange Place. As a crucial step towards operationalising FC4S Lagos, a declaration was unveiled and

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signed by Governor Sanwo-Olu and Bola Onadele. Koko, chairman, FC4S Lagos, conveying the commitment of both parties, as

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LOLADE AKINMURELE & IFEANYI JOHN

Crude Oil

$1,482.40 $60.56

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With ambitious budget, FG needs more than tax credit to lure private sector OLUFIKAYO OWOEYE & SEGUN ADAMS

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igeria’s plan to leverage the private sector in plugging infrastructure gaps in 2020 will require more than tax incentives as the stakes become higher for 200 million Nigerians with a budget that would see virtually all the government earns spent on debt and recurrent expenditure. In the proposed 2020 budget,

MARKETS

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Gold

Cocoa

US$ 2,506.00

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Declining corporate profit margins could signal recession next year iger ia may have recently pulled out of its first economic recession in 25 years but sustained declines in the profit margins of its biggest corporations flash signs that the economy may be well on its way to another downturn next year if the fundamentals fail to improve in the near term. Over the last six months, Nigeria’s real economic growth though remaining positive has decelerated for 2 consecutive quarters, posting GDP growth of 2.1 percent in the first quarter (Q1) of 2019, a decline from 2.38 percent recorded in the fourth quarter (Q4) 2018 and growth of 1.9 percent in the second quarter (Q2) 2019, which marked another

Foreign Reserve - $41.46bn Cross Rates - GBP-$:1.27 YUANY-N 50.93 Commodities

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UNDERCOVER INVESTIGATION (1)

L-R: Doyin Salami, vice chairman, governance board, Financial Centre for Sustainability (FC4S) Lagos; Babajide SanwoOlu, governor, Lagos State; Mary Uduk, acting DG, Securities and Exchange Commission, and Bola Onadele. Koko, chairman, governance board, FC4S Lagos, at the official launch of FC4S at FMDQ’s Exchange Place in Lagos.

Bribery, bail for sale… Lagos police station where innocent civilians are jailed and criminals P. 8 are recycled


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