The Central Bank of Nigeria (CBN) says it is leading the drive towards diversifying the nation’s economy away from oil through its numerous interventions. Mr Godwin Emefiele, Governor of CBN, said this at the 33rd Seminar organised by CBN for the Finance Correspondents and Business Editors on Saturday in...
BUSINESS
The Naira on Friday appreciated against the dollar at the Investors and Exporters window, exchanging at N430.33. The figure represented an increase of 0.08 per cent, compared with N430.67 it exchanged for the dollar on Thursday. The open indicative rate closed at N429.50 to the dollar on Friday. An...
Some stakeholders have commended the Central Bank of Nigeria (CBN) for injecting $265million into the nation’s aviation sector. This action, the stakeholders said would bailout some of the foreign airlines out of the shortage of dollars . The News Agency of Nigeria(NAN) reports that the apex bank, on Friday,...
In a move to check a brewing crisis in the country’s aviation sector, the Central Bank of Nigeria (CBN), released today the sum of $265 million to airlines operating in the country, to settle outstanding ticket sales. A breakdown of the figure indicates that the sum of $230 million...
The NNPC Limited started its activities last week on a cheering note as it bagged the Information Systems Audit and Control Association (ISACA) Outstanding Partnership Award. The award was for its robust adoption of technology in its business operations while the Group Chief Executive Officer (GCEO), Malam Mele Kyari...
Some financial experts have advised the Central Bank of Nigeria (CBN) to leverage technologies and innovations by the BRICS countries to strengthen the naira. The experts gave the advice at the maiden edition of the Annual Banking and Technology Forum, organised by the Centre for Financial Studies of the...
BUA Foods Plc, an indigenous foods company, has announced the resignation of Mr Isyaku Rabiu, as executive director of the company. The resignation, which was effective August 17, was contained in a regulatory disclosure by the company to the Nigerian Exchange Ltd. (NGX). According to the disclosure, the development...
The Central Bank of Nigeria (CBN) has unveiled the Unstructured Supplementary Service Data (USSD) for its eNaira to enhance financial inclusion in the country. The CBN Governor, GodwinEmefiele said this during the inauguration of the USSD transaction code at a 5-day Northern eNaira fair, Kano 2022. The theme of...
The Nigeria Deposit Insurance Corporation (NDIC), says the effective resolution of banks in distress is critical to depositors’ protection. The NDIC on its official Twitter handle on Thursday said the effective resolution would also ensure the stability of the financial system. NDIC described resolution plan as one put in...
Mrs Lynda Saint-Nwafor, Chief Enterprise Business Officer, MTN Nigeria, on Thursday said the adoption of 5G technology would accelerate operational efficiencies for businesses in the country. Saint-Nwafor, made the assertion at the Nigeria-South Africa Chamber of Commerce (NSACC) August Breakfast meeting in Lagos. The News Agency of Nigeria (NAN)...
Malam Mele Kyari, Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Ltd. says resolving the security challenge in the Niger Delta will bring back investments to the oil and gas sector. Kyari said the NNPC was working with security agencies and other stakeholders to address the issue of...
By OLA MUDOPE, Lagos – Ethiopian Airlines, a CHAMP customer for 30 years, has extended its partnership agreement with the cargo IT solutions provider for an additional 5 years. Under the agreement, Ethiopian will continue to benefit from its use of the acclaimed Cargospot suite of applications to manage...
By CALLISTUS OFFOR, Abuja – MTN Nigeria Communications Plc (MTN Nigeria) kicked off an open 5G pilot in the lead-up to its highly anticipated commercial launch. The Company, which intends to launch 5G services in Lagos, Abuja, Port Harcourt, Ibadan, Kano, Owerri, and Maiduguri, is testing the next-generation network infrastructure. Customers...
The Debt Management Office (DMO) says Nigeria needs to earn higher revenue and manage its debt profile more efficiently. The Director-General of DMO, Mrs Patience Oniha made the declaration in Abuja on Wednesday when she spoke with the News Agency of Nigeria (NAN). Mrs. Oniha said: “How much revenue...
By CALLISTUS OFFOR, Abuja – Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, has applauded consistent growth in Information and Communication Technology (ICT) contributions to the nation’s Gross Domestic Product (GDP), which hit 17.92 per cent in the last quarter of 2020, and in the first...
Africa’s richest man, Aliko Dangote, has bounced back from the huge losses that saw over N300 billion wiped off his wealth in 8 hours. On Monday, 22 August 2022, Bloomberg reports that Dangote’s wealth jumped by $34.8 million, which is over N14.9 billion when exchanged at N430 to a...
Italian sports car maker Lamborghini has already pre-sold the entire production run to early 2024, its boss told AFP on Tuesday, with luxury goods seemingly unaffected by global economic uncertainty. The Volkswagen subsidiary is enjoying “high demand” and has an order book covering the next 18 months, CEO Stephan...
The Nigerian Export Promotion Council (NEPC), on Tuesday said that Nigeria exported over 4. 146 million metric tonnes of non-oil products, worth $2.593 billion from January to June 2022. The Executive Director of NEPC, Dr Ezra Yakusak, said this while presenting the first half year 2022 progress report to...
The Naira on Tuesday further depreciated against the dollar at the Investors and Exporters window, exchanging at N430.67. The figure represented a decrease of 0.29 per cent, compared with N429.43 it exchanged for the dollar on Monday. The open indicative rate closed at N429.09 to the dollar on Tuesday....
By CALLISTUS OFFOR, Abuja – A director of the Nigerian Communications Commission (NCC), Ismaila Adedigba, has received the commendation of the Executive Vice Chairman of the Commission, Professor Umar Garba Danbatta, over his recent conferment of the Fellowship of the Nigerian Institute of Management, NIM. Adedigba who is the...