The African Development Bank (AfDB), has drawn 31 billion dollars in investment interest from African and global investors. In a statement issued by the Communication and External Relations unit of the AfDB, President of the bank, Dr Akinwumi Adesina said this at the 2022 Africa Investment Forum (AIF) Market...
BUSINESS
Nigeria’s currency continues to fall under President Muhammadu Buhari’s regime, tumbling to a new low of N1005 against the British pound sterling on the parallel exchange platform Aboki Forex on Saturday. It’s revealed that the naira traded at N1005 against the British Pounds Sterling and N890 to a dollar....
One year after it opened an office in Ghana, its first in Africa, Twitter has laid off almost the entire workforce in the West African country in a massive global layoff which has hit workers at the microblogging site since Elon Musk bought the company a week ago. The...
By JOY ADARA, Abuja – Tax dialogues, which provide a platform for exchange of diverse ideas on taxation, have been described as a tool for engendering tax compliance through collective ownership of the tax system, as well as a means to strengthening tax systems. The Executive Chairman of the...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has issued an advisory for users to frequently review alerts for Cisco products to assess their exposure and find a comprehensive update solution. The advisory, which also recommended using the appropriate software updates that...
Dana Airline, on Friday, announced that it would resume flights operations on Nov . 9. Mr Ememobong Ettete, Accountable Manager of Dana Airline, said this in a statement issued by its Corporate Communication Officer, Mr Kingsley Ezenwa, in Lagos. The News Agency of Nigeria (NAN) reports that the Nigerian...
The Nigerian Exchange Ltd. (NGX) on Friday gained N18 billion or 0.7 per cent as market capitalisation closed at N24.112 trillion from N24.094 trillion recorded on Thursday. Also, the All-Share Index (ASI) increased by 32.48 basis points or 0.7 per cent to close at 44, 269.18 as against 44,236.70...
The African Development Bank (AfDB), has signed an agreement with First City Monument Bank (FCMB) for a 50-million-dollar line of credit. This is contained in a statement issued by Chukwuemeka Ezekiel, AfDB Group, Nigeria Country Department on Friday. The line of credit is to support access to finance for...
By EZEKIEL OBI, Abuja – The Federal Road Safety Corps (FRSC) has drawn the attention of the motoring public, particularly those who are presently using Lexus NX260, Lexus NX3650h and Lexus NX400h+ manufactured between 31 March, 2021 to 26 April 2022 to a faulty programming of the Lane Keeping...
The Minister of Aviation, Sen. Hadi Sirika, on Thursday in Abuja said that the construction of a second runway at Nnambdi Azikiwe International Airport (NAIA) would be completed by November 2023. Sirika made this known when he received the National Assembly joint committee (Senate and House of Representatives) on...
By OLA MUDOPE, Lagos – Emirates Airline on Thursday announced the suspension of its flights to Nigeria indefinitely due to its trapped funds in the country The airline said it took the decision because it is yet to get its allocation from the $260m the Central Bank of Nigeria (CBN)...
The equity market extended losses on Thursday as the market capitalisation shed N25 billion or 0.10 per cent to close at N24.094 trillion from the 24.119 trillion on Wednesday. Similarly, the All-Share Index dipped by 46.32 points or 0.10 per cent to 44,236.70 from 44,283.02 recorded on Wednesday. The...
By JOY ADARA, Abuja – Governments across Africa have been urged to rethink governance, engender public confidence and trust in government by providing value for taxpayers’ money in line with their obligations under the social contract they have with citizens. This was the call made to African Government by...
Nigerian Breweries Plc, Nigeria’s foremost brewing company, on Wednesday announced N3.29 billion as dividend for its shareholders following a revenue growth of 27 per cent for nine months ended Sept. 30. The company made the disclosure in a statement signed by its secretary/legal director, Mr Uaboi Agbebaku, in Lagos....
Jumia, Africa’s leading e-commerce platform, has urged Nigerians to leverage the 2022 edition of its Black Friday shopping campaign to tackle ‘sapa’ and navigate the current economic realities. Mr Massimiliano Spalazzi, the Chief Executive Officer, Jumia Nigeria, gave the advice at a news conference on Wednesday in Lagos. The...
The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele says eNaira has recorded 700,000 transactions valued at N8 billion, since its inauguration on Oct. 25, 2021. Emefiele said this on Wednesday in Abuja, at the 28th edition of the apex bank’s annual In-house Executive Seminar with...
Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) on Tuesday, ended the industrial action against Bi-Courtney Aviation Services Limited (BASL) over the sacking of 34 members of the union without due process. Mr Frances Akinjole, Deputy General Secretary of the union, said this in a statement made in...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission (NCC) has said it would not relent in the promotion of latest and emerging technologies to energize business and the sector in Nigeria for the benefit of the country and its citizens. The Executive Vice Chairman (EVC) of NCC, Prof...
Dangote Industries Ltd., a pan- African conglomerate, has pledged its commitments to partner stakeholders to deepen commercial, industrial and economic activities to strengthen Nigeria’s economy. Mr Anthony Chiejina, the Group Chief Branding and Communication Officer, Dangote Industries Ltd., made this known on Tuesday in Lagos. Chiejina said that part...