By TENEBE ANTHONIA, Lagos – The Nigerian Exchange Group Plc. (“NGX Group) held its 61st Annual General Meeting (AGM) in Lagos on Friday, 30 September 2022, where shareholders approved resolutions by the company’s Board of Directors. Mr. Apollos Ikpobe and Dr. Okechukwu Itanyi retired by rotation and were re-elected...
BUSINESS
The World Bank has approved 750 million dollars for the Nigeria State Action on Business Enabling Reforms (SABER) Programme-for-Results. This is contained in a statement obtained by the News Agency of Nigeria (NAN) from the World Bank website on Friday in Abuja. The statement said the 750 million dollars...
Dangote Industries Ltd., has bagged eight different awards by the Economic Community of West African States Manufacturing Excellence Awards (EMEA). The company said this in a statement by Mr Anthony Chiejina, Group Chief, Branding and Communications Officer, Dangote Industries Ltd. (DIL), on Thursday in Lagos. According to the statement,...
African Export-Import Bank (Afreximbank) has inaugurated the Afreximbank Trade Payment Services or “AfPAY”. AfPAY is an intervention designed to facilitate the settlement of international trade on open account terms on behalf of identified African financial institutions and their clients. A statement issued by Afreximbank’s Press Office in Abuja on...
The Association of Licensed Telecommunications Operators of Nigeria (ALTON) says banks’ Unstructured Supplementary Service Data (USSD) debt has increased to N80 billion from N42 billion reported in 2021. The President of ALTON, Mr Gbenga Adebayo, disclosed this during the ICT Growth Conference 2.0. organised by the Nigeria Information Technology...
Oil prices firmed on Thursday, erasing earlier losses, on indications that OPEC+ might cut output, though a stronger dollar and weak economic outlook kept a lid on gains. Brent crude futures rose 52 cents, or 0.6 per cent, to $89.84 a barrel by 1027 GMT and U.S. crude futures...
Google has announced six new features and developments on search to help people gather and explore information in new ways. Mr Taiwo Kola-Ogunlade, the Head, Communication, West Africa and sub-Saharan Africa, said this in a statement on Thursday in Lagos. Kola-Ogunlade said that the new features leveraging machine learning...
The Port Harcourt Refining Company (PHRC) is soon to commence rehabilitation of its pipelines in readiness for resumption of production. Mr Sheik Mohammed, the Executive Director, Project, PHRC, made the disclosure on Wednesday during the inauguration of Ekerekana 140 Market Stalls in Okrika Community, constructed by the company. Mohammed,...
Prof. Benedict Oramah, President and Chairman of the Board of Directors, African Export-Import Bank (Afreximbank) has received the 2022 Margaret H. Demant African Art Award. This is contained in a statement issued by Afreximbank’s media contact, Amadou Sall in Abuja on Wednesday. Sall said Oramah received the award in...
The Federal Government says Nigeria currently produces about five million tonnes of Liquefied Petroleum Gas (LPG) annually and only eight per cent of the production is being utilised domestically, with the bulk being exported. It says domestic LPG production stands at about 45 per cent of annual consumption, with...
The Nigeria National Petroleum Company (NNPC Ltd) is collaborating with the Office of the Vice President on establishment of Gas Funding Company Ltd for injection of 20 million cylinders in the next five years. The NNPC Ltd said the company’s establishment, which involved collaboration of other relevant stakeholders and...
An economist, Prof. Evans Osabuohien says the increase of Monetary Policy Rate (MPR) by the Monetary Policy Committee (MPC) Central Bank of Nigeria (CBN) will further put pressure on already pressured private sector. Osabuohien made this known in an interview with the News Agency of Nigeria (NAN) in Ota,...
By CALLISTUS OFFOR, Abuja – The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has issued an advisory for users to install trusted, up-to-date anti-virus software with an Internet security component and to customize News Feed in Microsoft Edge Browser. This is part of the countermeasures to lessen...
In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and...
The domestic stock market on Tuesday closed on a negative note, with market capitalisation shedding N15 billion or 0.56 per cent to close at N26.517 trillion as against N26.532 trillion recorded the previous day. Also, the All-Share Index (ASI) lost 27. 87 points or 0.56 per cent to close...
The Debt Management Office (DMO) says government can reduce its dependence on borrowings to finance budget deficits by improving its revenue drive and prioritising expenditure. The Director-General of the DMO, Patience Oniha, said this on Tuesday during a presentation at an Executive Course on Budgeting and Fiscal Responsibility organised...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) from 14 per cent to 15.5 per cent on Tuesday to tame inflation. The committee had increased the MPR by a total of 250 basis points at its last two...
The Nigerian Exchange Ltd. (NGX) was upbeat on Monday as market capitalisation increased by N87 billion or 0.33 per cent to close at N26.532 trillion from N26.445 trillion recorded on Friday. Also, the All-Share Index (ASI) increased by 162.70 basis points, representing a rise of 0.33 per cent to...
The Naira appreciated slightly against the dollar at the Investors and Exporters window on Monday as it exchanged at 436. The rate represents a 0.08 per cent appreciation compared to the N436.33 for which the dollar exchanged Sept. 23. The open indicative rate closed at N435.67 to the dollar...
Vendease, an online marketplace for Africa’s food businesses, says it has raised 30 million dollars to transform restaurant businesses across Africa. Vendease which made this known in a statement issued in Lagos on Monday, said the money was raised in an equity and debt funding round. It said that...