The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies in order to increase foreign exchange inflows and boost economic growth. A CBN team on inspection of projects funded through Deposit Money Banks in Lagos, gave the advice late on Friday. It noted that the...
BUSINESS
Mr Olufunwa Akinmade, Divisional Head, Retail, SME Banking and E-Business, Unity Bank Plc, has described the bank’s latest retail product ‘Yanga’ as a unique product aimed at empowering the underbanked women entrepreneurs in Nigeria. Akinmade, who stated this during a chat with the media on Friday, noted that a...
As financial market analysts continue to digest the 2021 financial results of the FirstBank Limited, which they say reflect the return of the banking conglomerate to its leadership position, Festus Akanbi writes that the regime of strong fundamentals which the robust performance represents is in tandem with the ongoing...
After appreciating for two days, the Naira on Thursday dipped against the green back by 0. 21 per cent at the Investors and Exporters window. The local currency exchanged at 418.88 to the dollar, compared to 418 traded on Wednesday. The open indicative rate closed at N419 to the...
The Ecobank Transnational Incorporation (ETI), the parent company of the Ecobank Group, has paid out a total dividend of 40 million dollars to shareholders. The Group Chief Executive Officer (CEO) and Executive Director of ETI, Ade Ayeyemi, made the disclosure during a hybrid event of ETI’s 34th Annual General...
…set to strengthen strategic collaboration with NIM The Nigerian Communications Commission (NCC) has once again reiterated its stance on professionalizing its workforce and strengthening collaborations with strategic partners such as the Nigerian Institute of Management (NIM) in order to enhance operational efficiency. The Executive Vice Chairman (EVC) of NCC...
By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) has reiterated its stance on professionalizing its workforce and strengthening collaborations with strategic partners such as the Nigerian Institute of Management (NIM) in order to enhance operational efficiency. The Executive Vice Chairman (EVC) of NCC Prof. Umar Danbatta, stated...
The CBN has increased its funding and interventions in various sectors to boost economic growth. Governor of the CBN, Mr Godwin Emefiele, said this on Tuesday in Abuja while presenting a communique issued at the end of the bank’s Monetary Policy Committee meeting. He said the intervention schemes were...
The decision of the Monetary Policy Committee of the Central Bank of Nigeria (CBN) to raise the benchmark interest rate to 13 per cent was received by some economists on Tuesday with mixed reactions. While some told the News Agency of Nigeria (NAN), in separate interviews in Lagos, that...
For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent. Mr Godwin Emefiele, Governor of the CBN, said this while reading the 285th communiqué issued at the end of the apex bank’s Monetary Policy...
Nigeria’s Gross Domestic Product (GDP) grew by 3.11 per cent (year-on-year) in real terms in the first quarter (Q1) of 2022, the National Bureau of Statistics (NBS) has said. In its latest report published on Monday, the NBS revealed that the figure showed sustained positive growth for the sixth...
By JOY ADARA, Abuja – Nigeria’s cautious approach to the endorsement of the Organization for Economic Cooperation and Development (OECD)/ G20 Inclusive Framework two-pillar solution to the taxation of the digital economy is in the best interest of the country, and to ensure that Nigeria does not lose out...
A team of researchers at the Federal University Dutse (FUD), has discovered some species of mosquitos that are resistant to available insecticide treated nets in the state, except those treated with a particular insecticide called Primiphosmethyl. Alhaji Abdullahi Yahaya-Bello, the university’s Chief Information Officer, announced this in a statement...
The Nigerian Communications Commission (NCC) has advised telecom consumers and other Information and Communications Technology (ICT) end users on the need to always enable automatic update features for AVAST and AVG antiviruses to prevent potential cyber vulnerabilities. This was contained in a new advisory released by the Computer Security...
In collaboration with Interswitch, FirstBank has launched a promo to reward users of the FirstMobile app, its industry-leading mobile banking application. The promo tagged FirstMobile Cash-out Promo will run for 3 months. The promo, which started on Monday, 21st March 2022 will end on Tuesday, 21st June 2022. Various...
The Central Bank of Nigeria (CBN) has dismissed reports that it intends to replace the naira notes in circulation with digital currency, the eNaira, in due course. CBN Director, Corporate Communication, Mr Osita Nwanisobi, said in a statement on Saturday that the reports were false. According to him, the...
BY JOY ADARA, Abuja – The African Petroleum Producers’ Organization (APPO) and African Export-Import Bank (Afreximbank) have signed a Memorandum of Understanding (MoU) to establish an African Energy Transition Bank. This is contained in a statement signed by Afreximbank’s Media Contact, Mr Amadou Sall, on Friday. Sall said the...
The Minister of Communication and Digital Economy, Prof. Isa Pantami has reiterated the Federal Government’s commitment to protecting Nigerians from the harmful use of data. Pantami said this in Abuja on Thursday, at the inauguration of the World Development Report (WDR) 2021 in Nigeria. The theme of the report...
The National Bureau of Statistics (NBS), says the average price for refilling a 5kg gas cylinder of Liquefied Petroleum Gas (Cooking Gas) increased to N3,800.47 in April 2022. The NBS said to refill the gas cylinder used to cost N3,778.30 as recorded in March 2022. This is contained in...
The Federal Government says at the conclusion of the on-going reform in the creative industry and advertising sector, the country will earn two billion dollars in advertising within three years. The Minister of Information and Culture, Alhaji Lai Mohammed, said this in Abuja at a technical session of the...