The Central Bank of Nigeria (CBN) has said it is committed to harnessing the power of digital technologies to enhance financial inclusion. CBN Governor, Mr Yemi Cardoso, said this on Tuesday in Abuja, during a strategic institutions tour by participants of Senior Executive Course 46 of the National...
BUSINESS
The National Bureau of Statistics (NBS) says Nigeria’s headline inflationgf rate increased to 33.20 per cent in March 2024. The NBS said this in its Consumer Price Index (CPI) and Inflation Report for March, which was released in Abuja on Monday. According to the report, the figure is...
NIPCO Plc has completed four Compressed Natural Gas (CNG) stations in Lagos, set for inauguration by May. The Managing Director of NIPCO Gas Ltd., Mr Nagendra Verma, disclosed this during an interaction with newsmen on Sunday in Lagos. Verma, who highlighted the significance of CNG as a viable...
A chieftain of the All Progressives Congress (APC) in Osun State, Olatunbosun Oyintiloye, has appealed to President Bola Tinubu, to intervene in the possible downward review of the pump price of diesel being produced by the Dangote Petroleum Refinery. Oyintiloye, who made the appeal in a chat with...
The General Manager, Benue Links Nigeria Ltd., Mr Alexander Fanafa, says the Assets Management Company of Nigeria (AMCON) has delisted the transport company from bad debtors list. Fanafa disclosed this in an interview with the News Agency of Nigeria (NAN) on Saturday in Makurdi. Fanafa further said that...
The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.23. This represents a 7.16...
The Federal Government has said measures are being put in place to restore oil production in view of recent concerns regarding shortfall in oil production in Nigeria in the first quarter of 2024. Minster of State for Petroleum Resource (Oil), Sen. Heineken Lokpobiri, said this in a statement...
Losses in the stocks of Dangote Sugar, Guaranty Trust Holding Company (GTCO), among others have further weakened the performance of the equity market of Nigerian Exchange Ltd. (NGX). Specifically, investors lost N412 billion or 0.71 per cent, as the market capitalisation, which opened at N58.276 trillion, closed at...
The Chief Executive, Federal Inland Revenue Service (FIRS), Mr Zacch Adedeji, said that the service witnessed unprecedented progress in revenue collection, culminating in a remarkable achievement of N12.3 trillion in 2023. The chief executive, who was represented by a staff of the service, Mrs Aisha Ribadu, said this...
The International Monetary Fund (IMF) says inflation is easing faster than expected but has not been fully defeated. Managing Director of IMF, Kristalina Georgieva,was quoted in a statement by the Fund on Thursday to have said this at the China Development Forum (CDF) 2024, in Beijing. The event...
By BARBARA KALU, Port Harcourt – Experts and stakeholders have been brainstorming on ways to bring Nigeria out of the top 10 methane emission polluters and save Nigeria from heatwave syndrome. This was at the roundtable discussion on methane abatement in Nigeria held at Visa Karena Hotel, Port Harcourt,...
The Association of Bureau De Change Operators of Nigeria (ABCON) has commended the Central Bank of Nigeria (CBN) for its recent directive to cease the use of non-oil export domiciliary accounts for Naira loans. Its president, Dr Aminu Gwadabe, in a statement on Thursday in Lagos, said the...
Dangote group has said that its target is to ensure that Nigeria becomes self-sufficient in all sectors of its investment. The South East Regional Director, Dangote Cement, Dr. Abayomi Shittu, made the disclosure in Enugu on Wednesday at the ongoing 35th Enugu International Trade Fair. Shittu applauded Dangote...
The National Civil Society Council of Nigeria (NCSCN) has urged the Federal Government to consider granting tax waiver to Air Peace amidst ongoing price competition among foreign airline operators in Nigeria. Executive Director of NCSCN, Blessing Akinlosotu, in a statement on Wednesday said the pricing war was orchestrated...
By OLA MUDOPE, Lagos – The management of Air Peace has debunked report alleging that it abandoned a passenger and closed its counter for its Gatwick to Lagos flight on Monday. Corporate Communications Lead of the airline, Mr Stanley Olisa, made the clarification in a statement issued on...
In another unprecedented performance, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2023, showing exceptional and impressive performance across all its major indicators. The 2023 financials, filed by the Bank...
The World Bank has projected that growth will rebound in African economies from 2.6 per cent in 2023 to 3.4 per cent in 2024 and 3.8 per cent in 2025. This is contained in a statement issued by the World Bank on its latest Africa’s Pulse Report released...
Zenith Bank Plc has said its total assets grew to N20.368 billion for the year ended Dec. 31, 2023. The Company Secretary of Zenith Bank, Mr Michael Otu, said this in the bank’s audited results for the year ended Dec. 31, 2023 sent to the Nigerian Exchange Ltd....
By MBAFAN ADE, Abuja – The Central Bank of Nigeria (CBN) has warned bank customers to desist from using foreign currency as collateral for Naira loans. The CBN Acting Director, Banking Supervision Department, Adetona Adedeji, gave the warning in a statement on Monday, in Abuja. Adedeji said that...
The Central Bank of Nigeria (CBN) has approved daily sales of 10,000 dollars to 1,588 eligible Bureau De Change operators at the rate of N1,101 to the dollar. The Director, Trade and Exchange Department of the CBN, W.J Kanya said this in a letter addressed to the President,...