The Federal Mortgage Bank of Nigeria (FMBN) has said within 31 years delivered 39,000 new homes under the National Housing Fund (NHF) scheme. The bank’s Managing Director/Chief Executive, Mr Shehu Osidi, said this when he presented a paper at the ongoing 18th Africa International Housing Show on...
BUSINESS
To effectively position your business and attract new traffic, it’s crucial to start early and strategically plan your holiday campaigns. Here’s a detailed guide on the best times to start and how to drive traffic to your store, showcasing your Christmas bestsellers, and ensuring good conversion strategies to...
President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon. The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea...
The National Bureau of Statistics (NBS), says prices of beans, tomatoes, irish potatoes, garri, yam and other food items witnessed significant price increases in June 2024. The NBS said this in its Selected Food Prices Watch report for June 2024 released in Abuja on Tuesday. The report said...
The stock market’s performance index closed 0.08 per cent weaker on Tuesday as investors reacted negatively to the Central Bank of Nigeria’s (CBN) hike in the Monetary Policy Rate (MPR). The News Agency of Nigeria (NAN) reports that CBN’s Monetary Policy Committee (MPC) earlier announced another increase in...
President of the Capital Market Academics of Nigeria, Prof. Uche Uwaleke, has said the Central Bank of Nigeria’s (CBN) decision to hike interest rates was anticipated. Uwaleke, in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja, reacted to the Monetary Policy Committee (MPC)...
The Monetary Policy Committee (MPC), on Tuesday announced another increase in the country’s Monetary Policy Rate (MPR), known as the baseline interest rate, to 26.75 per cent from 26.25 per cent. The MPC also adjusted the Asymmetric Corridor to +500/-100 basis points from +100/-300 basis points around the...
The Federal Government says the proposed N6.2 trillion supplementary budgetary will be used to pay the minimum wage. The Minister of Budget and National Planning, Mr Atiku Bagudu, gave the assurance while addressing the House of Representatives’ Committee on Appropriation in Abuja. He said that the funds...
The Director-General of West Africa Region, African Development Bank (AfDB), Lamin Barrow, has said the banks’s cumulative financing approvals in Nigeria stands at 10.9 billion dollars. Barrow said this at the Second Interactive Session and Workshop on Developing Bankable Business Proposals/Business Plans for Youths in Agriculture on Monday...
The Nigerian Exchange Ltd.(NGX) has delisted the shares of Niger Insurance Plc, Resort Savings and Loans Plc and RAK Unity Petroleum Plc from its facilities, effective July 18. NGX, in its weekly report, said that the three companies were delisted on the grounds that they were operating below...
The Central Bank of Nigeria (CBN) has implemented stricter regulations for managing dormant accounts and unclaimed financial assets in banks and other financial institutions. These new guidelines, effective immediately, supersede previous policies issued in 2015. This is made known in a circular signed by John Onojah, Acting Director, Financial...
The Central Bank of Nigeria (CBN) said in Abuja on Friday that its monetary policies and actions have stimulated growth and stability of the nation’s economy. CBN Governor, Mr. Olayemi Cardoso, said this during an engagement with Senate Committee on Banking, Insurance and other Financial Institutions. Cardoso said...
Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N30.10. This represents a 1.92 per cent loss when compared to the previous trading date on Thursday when it exchanged at...
The Debt Management Office (DMO) is offering three Federal Government of Nigeria (FGN) bonds valued at N300 billion for subscription at N1, 000 per unit. According to the DMO, the first offer is an April 2029 FGN bond valued at N100 billion, at interest an rate of 19.30...
The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank,...
The Central Bank of Nigeria (CBN) on Thursday directed Bureau De Change (BDCs) operators to sell forex at a maximum profit margin of 1.5 per cent, aiming to correct market distortions. The bank, in a circular to BDC operators and the public, which was signed by Aliyu Mahdi,...
The Naira on Thursday appreciated at the official market, trading at N1,566.82 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira gained N14.83. This represents a 0.937 per cent...
The National Bureau of Statistics (NBS) has said the average retail price of a litre of petrol increased from N545.83 in June 2023 to N750.17 in June 2024. It made the declaration in its Petrol Price Watch for June 2024 released in Abuja on Thursday. It stated that the...
Dangote Industries Ltd. has commended the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for its various interventions in the oil company’s crude supply requests from International Oil Companies (IOCs). The Vice President of Dangote Industries, Mr Devakumar Edwin, commended the commission in a statement on Wednesday in Lagos. ...