African Export Import Bank (Afreximbank) has disbursed 150 million dollars to First Bank of Nigeria Ltd., under it’s Pandemic Trade Impact Mitigation Facility (PATIMFA). Group Head, Marketing and Corporate Communications, FirstBank, Mrs Folake Ani-Mumuney, said this in a statement on Monday in Lagos. According to the statement, the President...
BUSINESS
Bitcoin tumbled Monday to an 18-month low under $23,000 in a broad cryptocurrency crash, as investors shunned risky assets in the face of a vicious global markets selloff, just seven months after the virtual unit surged to a record high. The world’s most popular crypto asset also took a...
The African Network Centre Sarl Ltd., an organisation established to promote integration and networking among African countries, says Nigerian products are massively in demand in Morocco. Chief Executive Officer of the centre, Mr Ahmed Gombe, disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday,...
The Central Bank of Nigeria (CBN), says it is set to introduce the Unstructured Supplementary (USSD) code as part of steps to improve the Central Bank Digital Currency (CBDC). The Deputy Governor of the CBN, Kingsley Obiora, said this at the IMF African Department Speakers Series held virtually on...
The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crude oil samples stood at 123.21 dollars per barrel Thursday. This is compared to 121.54 dollars per barrel recorded on Wednesday. This is according to the OPEC Secretariat calculations obtained by the News Agency of...
The Nigeria Communication Commission (NCC) on Thursday said that stakeholders play a critical role in unlocking the vast potential of 5G. The Executive Vice Chairman of NCC, Prof. Umar Danbatta, made said this in his keynote address at the 2022 Nigeria Digital Sense Forum on Internet Governance for Development...
By JOY ADARA, Abuja – The Nigeria’s Naira on Thursday, depreciated at the Investors and Exporters window, exchanging at N422.50 to the dollar, a 0.54 per cent depreciation against N420.25 traded on Wednesday. The open indicative rate closed at N420.26 to the dollar on Thursday. An exchange rate of...
Abducted Abuja-Kaduna train passengers have regained their freedom, according to information just reaching News Express. “Alhamdulillah my mum and elder sister have just being released at the moment in a medical facilities receiving medication in Kaduna. “Thank you for your prayers,” Yusuf Atta, whose relations were among the abducted...
The Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, has reiterated the commitment of the Federal Government to increase Nigeria’s cocoa production from the present 340,000 tonnes to 500,000 tonnes by 2024. A statement by Mr Mohammed Gana, Information Officer II, in the Ministry said the minister made...
By EZEKIEL OBI, Abuja- The Nigerian Civil Aviation Authority (NCAA) would on Monday present Nigeria Air, the country’s proposed national carrier with Air Transport Licence (ATL). The licence will be presented to the interim management of the airline at the headquarters of the aviation regulatory body in Abuja. The...
Some business owners have decried the drop in power being supplied by Ikeja Electric(IE) Plc and Eko Electricity Distribution Company (EKEDC) in some parts of Lagos State. They made their views known in interviews with the News Agency of Nigeria (NAN) on Saturday in Lagos. NAN reports that the...
The Debt Management Office (DMO) has listed two new Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to the DMO, the first one is a two-year savings bond maturing on June 15, 2024, at an interest rate of 8.20 per cent per annum....
Oil prices on Friday fell after Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses because of Western sanctions. The downside, however, remained capped by signs of tight global supply and expectations of increased demand as China eases its COVID-19...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in Nigeria. This decision is contained in a Public Notice, signed by its Executive Chairman,...
The volume of trade between Namibia and Nigeria has hit 10 million dollars, says Mr Humphrey Geiseb, High Commissioner of Namibia to Nigeria. Geiseb said this while briefing newsmen in Abuja on a wide range of issues centered on the country’s plan to deepen Namibia-Nigeria bilateral relations. According to...
…As NCC’s Second Telecoms Leadership Summit holds in Lagos The Nigerian Communications Commission (NCC) has hosted the second edition of the Nigerian Telecoms Leadership Summit, in line with its tradition and commitment to engage with stakeholders in the telecom ecosystem with a view to pursuing proactive regulatory interventions targeted...
Nigeria’s crude oil production has increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos, showed that the country’s crude oil production averaged 1.42mbpd in May. The figure is...
With a significant cut in its impairment charges (which translates into a clean loan book) in its 1Q, 2022 results, after it successfully brought down its non-performing loan to 6.1 per cent in 2021 full year performance, analysts say the repeat of the impressive performance of FirstBank in the...
By JOY ADARA, Abuja – The U.S. Ambassador to Nigeria, Mary Leonard, says Nigeria will continue to be eligible for preferential trade access to U.S. market under the African Growth and Opportunity Act (AGOA). Leonard said this when she visited the Minister of Industry, Trade and Investment, Otunba Adeniyi...
A passenger plane with 22 people on board went missing in Nepal on Sunday, the operating airline and officials said, as poor weather hampered a search operation. Nepal’s air industry has boomed in recent years, carrying goods and people between hard-to-reach areas as well as foreign trekkers and climbers....