The National Pension Commission (PenCom) says that Leadway Pensure Ltd. is not in breach of the Investment Regulation by investing pension funds in the equities of FBN Holding Plc. Mr Peter Aghahowa, the commission’s spokesperson, in a statement on Saturday, said the clarification was necessary following several publications alleging...
BUSINESS
By EZEKIEL OBI, Abuja – Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, has said that Nigeria needed to intensify efforts in equipment production for the armed forces, to fight insecurity. This is contained in a statement by Mr Otuyemi Adetayo, Press and Public Relations officer of the...
Profit-taking activities continued on Thursday in the Nigerian equities market as investors lost N33 billion on sell-offs in 23 stocks. The News Agency of Nigeria (NAN) reports that the market capitalisation dipped N33 billion or 0.15 per cent to close at N22.589 trillion against N22.622 trillion on Wednesday. Also,...
The Export-Import Bank (AfreximBank) has signed a $US1.04 billion facility with the Nigerian National Petroleum Corporation (NNPC) to finance the exploration of petroleum. The agreement was concluded on Tuesday in Durban during the second Intra-Africa Trade Fair (IATF2021), which opened on Nov.15 and runs until Nov. 21, 2021, a...
The Federation’s General Statistician and Head of the National Bureau of Statistics, Simon Harry has said the country’s economy grew 4.03% in the third quarter of 2021. He made the announcement Thursday in Abuja during a press conference on the current state of the country’s gross domestic product, GDP....
BY TENEBE ANTHONIA, Lagos – In recognition of the role Special Purpose Acquisition Companies (SPACs) play in catalyzing economic growth through public markets Nigeria and Africa, Nigerian Exchange Limited (NGX) has hosted a webinar with the theme SPACs: An Alternative Route to Public Markets on Wednesday. Speaking at the...
Elon Musk said Wednesday that the Starship developed by his company SpaceX and selected by NASA for the Americans’ return to the Moon would attempt its first orbital flight early next year. “We’ll do a bunch of tests in December and hopefully launch in January,” Musk said in a...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) has expounded on the various opportunities available to investors to diversify their portfolios at its Retail Investor Workshop which held on Tuesday, 16 November 2021. Speaking at the webinar tagged ‘Creating an Investment Portfolio That Works in a Post-COVID Era’,...
By TENEBE ANTHONIA, Lagos – Airtel Africa Plc has reached the second closing relating to the Airtel money minority investment transactions with TPG’s The Rise Fund, Mastercard and QIA. Airtel Africa’s Group Company Secretary, Mr Simon O’Hara, announced this in a notice posted on the website of the Nigerian...
By OLA MUDOPE, Lagos – FMDQ Securities Exchange Ltd. (FMDQ Exchange) has approved the listing of MTN Nigeria Communications (MTN Nigeria) N110 billion Series 1 Senior Unsecured Fixed Rate Bond on its platform. The Chief Executive Officer, MTN Nigeria, Mr Karl Toriola, said this in a statement issued by...
The Consumer Price Index (CPI) which measures inflation increased by 15.99 per cent (year-on-year) in October 2021, the National Bureau of Statistics (NBS) has revealed. While the country recorded a higher figure in October compared to last year, the inflation rate dropped for the seventh straight month. In a...
By JOY ADARA, Abuja – In a bid to ensure that stakeholders in the country’s telecoms sector are informed, educated and protected, the Nigerian Communications Commission (NCC) has notified the public of the existence of another hacking group orchestrating cyberespionage in the African telecoms space. An Iranian hacking group...
The Central Bank of Nigeria (CBN) has granted Airtel Mobile Commerce Nigeria Ltd., a subsidiary of Airtel Africa, approval in principle to operate as a super agent. This is contained in a notice signed by the Group Company Secretary, Airtel Africa, Simon O’Hara, and posted on the Nigerian Exchange...
iProduce Africa, an agribusiness hub sponsored by the Islamic Development Bank (IsDB), says it has concluded plans to train no fewer than 200 Small and Medium Enterprises (SMEs) and agri-entrepreneurs to boost their capabilities. A statement issued on Sunday, in Abuja, by Aisha Waziri-Umar, Chief Executive Officer, iProduce Africa,...
Edo State Governor Godwin Obaseki has said that his administration would launch its e-governance platform before the end of the year. Governor Obaseki disclosed this during the opening ceremony of the 2021 Alaghodaro summit with the theme “Edo of our dreams: Building a sustainable future.” According to him, “Edo...
By JOY ADARA, Abuja – The Federal Government has resolved to engage venture capitalists, stakeholders and entrepreneurs to boost innovations in the country. The Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, stated this in a statement issued by Jesephine Ademu, Head, Press and Public Relations of the...
Customers on Saturday, expressed satisfaction with the quality of products displayed by the exhibitors at the ongoing 8th edition of Made-In-Aba Trade Fair in Abuja. The customers, in separate interviews with the News Agency of Nigeria (NAN) also expressed delight for extending the event earlier scheduled to end Nov....
Gold futures on the COMEX division of the New York Mercantile Exchange continued to rise Thursday on higher U.S. inflation concern. The most active gold contract for December delivery rose 15.6 U.S. dollars, or 0.84 percent, to close at 1,863.9 dollars per ounce. Gold futures climbed for the sixth...
By OLA MUDOPE, Lagos – Access Bank Plc has partnered with Konga to offer free deliveries and 10 per cent discount on every item purchased in the ‘Konga Yakata’ sale from Nov. 11 to Dec. 12. A statement issued on Thursday by The Group Head, Retail Marketing and Analytics,...
Ecobank Group on Thursday announced two Fintechs in Nigeria and three others as the five finalists of the 2021 Fintech Challenge. The Challenge is designed to help Fintechs with Africa-focused products join forces with the leading pan-African Group to provide Africans with groundbreaking financial services. Mr Tomisin Fashina, Group...