The Central Bank of Nigeria (CBN), has advised bank customers to ensure they properly understand any bank product before subscribing to them. Mohammed Muazu, the Head Complaints Management Division, Consumer Protection Department of the Central Bank of Nigeria (CBN), said this in Lagos on Friday. He gave the warning...
BUSINESS
BUA Foods Plc has declared a revenue of N729.4 billion, an increase of 74.4 per cent relative to its 2022 revenue. The Chairman of BUA Foods, Alhaji Abdul Rabiu, said this at the 3rd Annual General Meeting of the company on Thursday in Abuja. While presenting the Annual Report...
The stock market, on Thursday, reversed some gains from its previous sessions, indicating a loss of N267 billion from the portfolios of investors. Selloffs in MTN Nigeria, Oando Plc, United Bank For Africa (UBA), Fidelity Bank, FCMB Group, alongside Cadbury and United Capital, amongst other declined stocks, drove the...
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has called on the Federal Government to increase its stake in Dangote refinery to 45 per cent from the current seven per cent. President, PENGASSAN, Mr Festus Osifo, made the call on Tuesday while presenting a communique and...
The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said the decision by the Monetary Policy Committee (MPC) of the apex bank to further tighten the Monetary Policy Rate (MPR) was unanimous. Cardoso, who is also the Chairman of the MPC, said this on Tuesday in...
Chairman of Dangote Group, Aliko Dangote has expressed regret over his decision not to purchase Premier League club Arsenal for $2bn. In a recent interview on Bloomberg TV in New York, the billionaire acknowledged that the “time has passed” for him to buy Arsenal, saying that the club is...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has further increased the Monetary Policy Rate (MPR) by 50 basis points to 27.25 per cent from 26.75 per cent. The Governor of the CBN, Yemi Cardoso, made this known on Tuesday in Abuja, while reading the...
The United States Chamber of Commerce has expressed its willingness to invest about 320 million dollars in mortgage refinancing and Small and Medium Enterprises (SMEs) in Nigeria. This is contained in a statement issued by spokesperson of Vice-President Kashim Shettima, Mr Stanley Nkwocha. Ms Nisha Biswal, the Deputy Chief...
Opening the week’s trading, the Nigerian Exchange Ltd.(NGX)market capitalisation advanced by N79 billion or 0.14 per cent to close at N56.536 trillion, from an opening of N56.457 trillion. The All-share Index also added 0.14 per cent or 139 points, to close at 98,386.60 points, against 98,247.99 posted on Friday....
A legal practitioner, Mr Junaid Sanusi who is a customer of Access Bank Plc, has sued the bank for N100 million for allegedly deducting his money unlawfully. While arguing his originating summons before the Federal High Court at Ibadan on Monday, Sanusi informed the court that he operated a...
PalmPay, a financial platform in Nigeria, says it has launched a USSD code to empower its users with financial access. The Managing Director of PalmPay Nigeria, Mr Chika Nwosu,made this known in a statement in Lagos on Monday. He said the service offered Nigerians an additional mileage to manage...
The National Bureau of Statistics (NBS) has said the average price of 5kg of cooking gas increased from N5,974.55 recorded in July 2024 to N6,430.02 in August 2024. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for August 2024 released on Sunday in Abuja. The report said...
MTN Nigeria has partnered with the AKWAABA African Travel Market, as its headline sponsor for the 20th anniversary, slated to hold from Sept. 22 to 24. The strategic collaboration marks MTN’s first-ever participation in the prestigious event, reinforcing its commitment to driving growth and progress across Africa through technology....
The Nigerian Communications Commission (NCC) says it has made a significant move to harness the 6GHz spectrum’s potential for enhanced Wi-Fi 6 to address Nigeria’s growing broadband needs. The Executive Vice Chairman, NCC, Aminu Maida, disclosed this during a Stakeholders’ Consultative Forum on Emerging Technologies in Lagos on Thursday....
The MTN Nigeria Foundation has given scholarships and more to 380 Nigerian students, including the visually impaired, from various tertiary institutions in the country. The Foundation, as part of its 2024 Scholarship Awards, will also provide mentorship, networking opportunities and coding and digital skills to the student beneficiaries. The...
The National Pension Commission (PenCom) on Wednesday said that states remitted N236.7 billion pension contribution to the Pension Fund Custodians (PFCs) from January 2020 to the second quarter of 2024. Acting Director-General of PenCom, Ms Omolola Oloworaran, disclosed this at the Third Quarter 2024 Consultative Forum For States And...
The equity market, on Wednesday,sustained its bullish momentum by adding N314 billion profit to the portfolios of investors. Specifically,the market capitalisation which opened at N56.133 trillion,gained N314 billion or 0.56 per cent to close at N56.447 trillion. The All-Share Index also rose by 0.56 per cent or 545 points,...
The Federal Inland Revenue Service (FIRS) says it will introduce the FIRS e-Invoice, a digital solution for managing invoices, in line with the Tax Administration and Enforcement Act 2007. Executive Chairman, FIRS, Dr Zacchaeus Adedeji, stated this on Wednesday in Lagos at the LCCI-FIRS Organised Private Sector Stakeholders Engagement...
By PATRICK ABANG, Calabar – The Nigeria Youth Investment Fund (NYIF) has received an overwhelming response, with over 10,000 youths registering for the program. The Federal Government has allocated N110 billion to support young entrepreneurs aged 18-40. According to the Special Adviser to Governor Bassey Otu on Digital Economy,...