The Central Bank of Nigeria (CBN) has advised market traders and business operators in Kwara to embrace use of Point of Sale (POS) machines for transaction to beat the old Naira notes submission deadline rush. The CBN, Ilorin Branch Controller, Mr Najim Lamidi, gave the advice at the Day...
BUSINESS
The Minister of State for Petroleum Resources, Chief Timipre Sylva says the Federal Government has not approved any increase in the pump price of Premium Motor Spirit (PMS) otherwise called petrol. In a statement, on Friday in Abuja, Sylva said that President Muhammadu Buhari had not approved rise in...
The Central Bank of Nigeria (CBN) on Friday in Abuja allayed the fears of rural dwellers at accessing the new naira notes before they cease to become legal tender on Jan. 31. It stated that it would launch a cash swap programme in rural and underserved areas of the...
The Nigerian Business Communities (NBC) for PDP Presidential Candidate, Alhaji Atiku Abubakar and his running mate, Dr Ifeanyi Okowa, have begun conversations around Abubakar’s proposed $10 billion intervention for Small and Medium Enterprises (SMEs) if elected. The group, at a “Panel Discussion on Atiku Abubakar’s Proposed $10 Billion Stimulus...
By BARBARA KALU, Uyo – Chairman, Governing Board of the Niger Delta Development Commission (NDDC), Lauretta Onochie, has declared that the Commission under her watch will no longer be for just a few people but for the entire Niger Delta. Onochie, who made the declaration on Friday during a...
There is no respite for Lagos residents over the lingering fuel scarcity as Major Oil Marketers Association of Nigeria (MOMAN) has increased the price of petrol to N185 per litre without official notification. The News Agency of (NAN) reports that fuel scarcity persisted on Friday as long queues disrupted...
Roxettes Eco-Drives Ltd, an indigenous car company, says it will launch an Electric Vehicle (EV) in Nigeria and the entire globe with about 320 direct workers for a start. The Chief Executive Officer of the company, Dr Kaycee Orji, told newsmen in Enugu on Thursday that the cars would...
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the 2023 edition of its Nigeria Economic Outlook event. The virtual event themed “Nigeria Economic Outlook 2023: A look ahead” is scheduled by 8:30am on Friday, 20 January 2023, via Zoom meeting. To register...
The Central Bank of Nigeria (CBN) has begun monitoring Commercial Banks and their Automated Teller Machines (ATMs) in Bauchi, to ensure the dispensation of new Naira notes to customers in the state. The News Agency of Nigeria (NAN) reports that CBN Officials monitored all the banks in Bauchi metropolis...
The Central Bank of Nigeria (CBN) on Thursday vowed to sanction any commercial bank found hoarding the new naira notes because it had produced enough for distribution to all the banks across the country. The CBN Kano Branch Controller, Alhaji Umar Biu, made the remark during a sensitisation on...
By BARBARA KALU, Port Harcourt – The Board of the Niger Delta Development Commission (NDDC), has given its Chairman, Lauretta Onochie, the go ahead to her plans to cut financial waste and implement other measures aimed at ensuring the smooth running of the Commission. The Board gave its nod...
The Central Bank of Nigeria (CBN) has charged Nigerians to ensure they deposit the old N200, N500 and N1000 notes in their various banks before the Jan. 31 deadline. Mrs Olufolake Ogundero, the CBN Branch Controller in Oyo State, gave the charge on Thursday during the sensitisation programme held...
The Board of Directors of Dangote Cement Plc has approved the appointment of Mr Arvind Pathak as the Group Managing Director of Dangote Cement Plc, with effect from March 1. The company disclosed this in a corporate disclosure made available to the Nigerian Exchange Ltd. on Thursday. The corporate...
By MBAFAN ADE, Abuja – The Association of Practicing & Professional Insurance Brokers of Nigeria (APPIBON), has thrown its weight behind the recent increase in third party premium on motor insurance as announced by the National Insurance Commission (NAICOM). NAICOM had in December 2022, issued a circular in which...
Mr Bismarck Rewane, Chief Executive Officer, Financial Derivatives Company Ltd. has listed aviation, chemical and pharmaceuticals, manufacturing, construction and financial services as sectors that will drive Nigeria’s economic growth in 2023. Rewane said this at the Nigerian-British Chamber of Commerce (NBCC) 2023 Macroeconomic Outlook on Thursday in Lagos. He...
Sentiments remained bearish at the Nigerian Exchange Ltd., (NGX) as market capitalisation decreased by N46 billion or 0. 16 per cent to N28.658 trillion from N28.704 trillion recorded on Tuesday. Similarly, the All-Share Index (ASI) decreased by 85.8 points, representing a dip of 0.16 per cent to close at...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has signed a revised Memorandum of Understanding with the National Lottery Regulatory Commission (NLRC), with provisions to deter unapproved lottery and gaming practices on telecommunications platforms through information and intelligence sharing. Executive Vice Chairman of NCC, Prof. Umar Danbatta...
Rice processors and transporters in Gombe State have cried out to the state government over alleged Multiple taxation threatening to shut down the business. They have therefore urged the government to harmonise the taxes being collected at various points, including suspicious areas in the state. They stated this in...
First Bank of Nigeria Ltd has said it will hold its 2023 Nigeria Economic Outlook webinar to deliberate on national and global trends that will shape economic landscape in the new fiscal year. The Group Head, Marketing and Corporate Communications of FirstBank, Mrs Folake Ani-Mumuney, said this in a...
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, has called on commercial banks to approach the apex bank branches across the country to pick up the new naira notes. Emefiele made the call when the apex bank took its sensitisation tour on the adoption of the newly...