Reforms, Privatisation, and Commercialisation Rights and Authority The Nigerian public has been thrust into a state of uncertainty following recent developments surrounding the Bureau of Public Enterprises (BPE) and Ministry of Finance Incorporated (MOFI). The tussle between the two entities over the authority to reform sectors, privatise, and...
BUSINESS
Parallex Bank Ltd. says it has introduced an advanced mobile banking application, Mobile App 2.0, aimed at delivering convenience and functionality to its customers for limitless banking experience. Managing Director of Parallex Bank, Dr Olufemi Bakre, said in a statement on Friday that the updated version reflected the...
FirstBank of Nigeria Ltd., on Friday rewarded 930 customers in the third edition of its ongoing four-month “Win Big Promo” draw, which started on Oct. 23, 2023. The promo, expected to end on Feb. 23, is targeting 1,240 customers with 310 of them to win from the N170...
Managing Director, Leisure Court Estate Limited, Mr Segun Abolaji has called on the government to improve regulation on possession of lands in order to make affordable housing feasible. Abolaji made this call on Thursday in Abuja during the Real Estate/Housing Reporter’s Workshop organised by Leisure Court Estate Limited....
Bullish sentiment persisted on Thursday at the Nigerian Exchange Ltd. (NGX) equity market, as the market indices rose by 0.58 per cent. Specifically, investors gained N329 billion or 0.58 per cent, as the market capitalisation closed at N56.961 trillion, as against N56.632 trillion recorded on Wednesday. The All-Share...
Representatives of the board and management of Nigerian Exchange Group (NGX Group) and other key stakeholders of the capital market paid condolence visits to the families of late Mr Abimbola Ogunbanjo and Dr Herbert Wigwe. The delegation, led by Alhaji Umaru Kwairanga, Group Chairman, NGX Group, included representatives...
The National Bureau of Statistics (NBS) has said Nigeria’s headline inflation rate increased to 29.90 per cent in January 2024 from 28.92 per cent recorded in December 2023. The NBS disclosed this in its Consumer Price Index (CPI) and Inflation Report for December, which was released in Abuja...
Shell has said it is working to extend the life of its Bonga Floating, Production, Storage, Offloading vessel by another 15 years. This would enable the company to handle more production from Nigeria’s first deep-water development which came on stream in 2005. The assurance was given in Lagos...
The Debt Management Office has offered two Federal Government of Nigeria bonds valued at N2.5 trillion for subscription at N1,000 per unit. The first offer is a seven-year bond valued at N1.25 trillion and expected to mature in February 2031. The second offer is a 10-year...
Britain’s economy slipped into a recession at the end of 2023, after output contracted by more than expected in the final three months, according to official figures. The Office for National Statistics (ONS) estimated that gross domestic product (GDP) fell by 0.3 per cent in the fourth quarter,...
By OLA MUDOPE, Lagos – The Federal Government has been urged to swiftly establish a Commodity Price Regulation Board to regulate price of cement in the country. The President, National Association of Block Moulders of Nigeria (NABMON), Mr Adesegun Banjoko, made the call in a statement on Thursday in Lagos....
The equity market rebounded to gain N980 billion on Wednesday, following investors improved buy interest in the stocks of Airtel Africa, Geregu and Zenith Bank. Specifically, market capitalisation gained N980 billion or 1.76 per cent to close at N56.632 trillion, as against N55.652 trillion posted on Tuesday. ...
Fidelity Bank Plc says its Board of Directors has extended the tenure of the Chief Executive Officer (CEO), of the bank, Dr Nneka Onyeali-Ikpe, to 2026. Mr Ezinwa Unuigboje, the Company Secretary, said this in a notification sent to the Nigerian Exchange Ltd.(NGX) in Lagos. Unuigboje stated that...
The Federal Inland Revenue Service (FIRS), has assured Nigeria’s leading telecom MTN Nigeria Plc and others of a friendly, customer-centric tax administration. The Executive Chairman of FIRS, Dr Zacch Adedeji, said this when he received the Chief Executive Officer of MTN, Mr Karl Toriola on Tuesday. Toriola...
Ikenna Melvin Ekeh stands out as a third-generation entrepreneur, hailing from a lineage steeped in entrepreneurial spirit. From a young age, Ikenna demonstrated a strong aptitude for real estate, actively contributing to the family’s property venture, Age Properties, during his college years. His involvement in strategic planning played a...
Total share value on the Nigerian Exchange (NGX) Ltd. on Tuesday dropped by N83 billion or 16.2 per cent due to selloffs in the stocks of Tier-One banks Specifically, a total of 263.19 billion shares valued at N4.30 billion were exchanged in 8,614 deals, against 242.43 billion shares...
The Federal Government and the World Bank are targeting three billion dollars to fund additional 120,000km fibre optic cables to leap frog broadband infrastructure and connectivity in Nigeria. The Minister of Communications, Innovations and Digital Economy, Dr Bosun Tijani, disclosed this in Abuja on Tuesday at a stakeholders’...
The Chief Executive, Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mr Gbenga Komolafe, says Nigeria has the potential to produce 2.2 million bpd as against the current production of between 1.5 million and 1.6 million. Komolafe disclosed this at the 8th Sub-Saharan Africa International Petroleum, Exhibition and Conference (SAIPEC) on...
● Says economic sabotage is a serious crime. The leadership of Petroleum Tanker Drivers (PTD) Branch of NUPENG has assured the people, government and stakeholders in Nigeria’s oil and gas industry of its unalloyed commitment to the lifting and distribution of products across the length and breadth...
Investors on the stock market of the Nigerian Exchange Ltd. (NGX) on Monday reacted to the death of Dr Herbert Wigwe, Group Chief Executive Officer (Group CEO), Access Holdings, reducing the company’s share price. The News Agency of Nigeria (NAN) reports that Wigwe, his wife, son and Mr...