Nigeria Deposit Insurance Corporation (NDIC) says it has paid insured sum of over N1.7 billion to customers, following the revocation of licenses of Microfinance Banks (MFBs) and four Primary Mortgage Banks (PMBs). Mr Bello Hassan, Managing Director/Chief Executive Officer, NDIC, said this at the 2023 NDIC Editors...
BUSINESS
If any sector of the Nigerian economy prides itself as recording tangible achievements in recent times, certainly it must be the telecoms industry. It is one of a few sectors where Nigerians have benefited from a fair price regime due to fierce competition amongst key players. The...
The Nigerian equity market ended its four-day gains as the performance indices declined by 0.09 per cent due to sell-off in Tier-one banking stocks. The market capitalisation closed with a loss of N37 billion or 0.09 per cent to close at 39.612 trillion, as against N39.649 trillion recorded at...
First Bank of Nigeria Ltd. has rewarded 310 valued customers with N100,000 each, in the maiden draw of its WinBig Promo. The News Agency of Nigeria (NAN) reports that the presentation took place at the Marina branch, on Friday, in Lagos. The four-month promo, which started on Oct....
By JOHN ONAH, Abuja – The Federation Account Allocation Committee (FAAC) has shared N1.088.783 trillion November revenue to the Federal Government, States and Local Government Councils (LGCs). This is according to the communique issued by the FAAC at its meeting on Friday. The communique said that the distributable...
Nigeria’s headline inflation rate increased to 28.2 per cent in November showing a 0.87 per cent points increase over the 27.33 per cent recorded in October, the National Bureau of Statistics (NBS) says. It stated in its Consumer Price Index (CPI) and Inflation Report for November released in...
Increased buying interest in the shares of some banks, especially Zenith Bank and Access Holdings lifted investors’ worth on the Nigerian Exchange Ltd. (NGX) by N85 billion. Specifically, the market capitalisation closed at N39.649 trillion as against N39.564 trillion recorded on Wednesday, representing 0.22 per cent increase. Also,...
Central Bank of Nigeria (CBN) has said the rising inflation and exchange rates will decline in 2024. The News Agency of Nigeria (NAN) reports that the apex bank also projected less revenue from oil exports in the coming year. CBN Governor, Mr Olayemi Cardoso, stated these on Thursday...
PATRICK ABANG, Calabar – The Chairman of Cross River State Internal Revenue Service (CRIRS), Edwin Okon has disclosed that the Service under his watch has recorded huge success within a short period. Mr. Okon said the revenue generation from MDA recorded huge difference from N3.8b in 2022...
By TOM CHIAHEMEN, Abuja – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced the death of a former Group Managing Director (GMD) and Acting Alternate Chairman of the Board of the defunct Nigerian National Petroleum Corporation (NNPC), Dr. Thomas Maurice Asuquo John, at the age of 84....
By CALLISTUS OFFOR, Abuja – The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has pledged that transparency will form the bedrock of his leadership as Nigeria’s chief telecom regulator as this will enable a solid foundation in building a resilient, accountable and...
… Pledges to Maintain Level of Dividends Projected in MTEF By TOM CHIAHEMEN, Abuja – The Nigerian National Petroleum Company Ltd (NNPC Ltd.), has assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic and realizable. Group Chief Executive Officer (GCEO) of...
The Nigerian National Petroleum Company Ltd. (NNPCL) has assured that projections on crude oil production and price benchmark for the 2024 Budget were realistic and realisable. The Group Chief Executive Officer (GCEO) of the Company, Mr Mele Kyari, gave the assurance during an interactive session with the Senate...
The Central Bank of Nigeria (CBN) has reassured Nigerians of enough Naira notes in circulation, to carter for their cash needs. CBN’s Acting Director, Corporate Communications, Mrs Hakama Ali, gave the assurance in a statement on Wednesday. It would be recalled that there has been complaints of...
The Nigerian National Petroleum Company Limited (NNPCL) has generated N4.5 trillion as revenue for the federation for 2023 as at October, its Group Chief Executive Officer, Mr Mele Kyari has said. Kyari, said this in Abuja on Wednesday at an interactive session with the Senate Committee on...
By EMMANUEL KUJE, Abuja – The Confederation of African Football (CAF) on Wednesday announced Ecobank, a pan-African banking group, as the official sponsor of the TotalEnergies 2023 Africa Cup of Nations (AFCON) in Côte d’Ivoire. Head of Group Communication, Ecobank, Christiane Bossom, stated this in a statement...
By DAVID IORJA, Abuja – President Bola Tinubu has approved the suspension, removal, and replacement of the following Chief Executive Officers under the Federal Ministry of Aviation and Aerospace Development with the appointment of Mrs. Olubunmi Oluwaseun Kuku as the substantive Managing Director of the Federal Airports Authority of...
By BOLAJI ISRAEL – FirstBank, Nigeria’s premier financial institution, is set to ignite the annual DecemberIssaVybe fun time energy with the sponsorship of heavyweight sensational Nigerian singer, Asake’s super star musical concerts in Abuja and Lagos. Asake also known as Mr Money, an award-winning singer and the...
By MBAFAN ADE, Abuja – Nigeria’s Vice President, Senator Kashim Shettima, has inaugurated the newly re-constituted National Council on Privatization (NCP), with a charge to members to champion the road to the economic prosperity of the Nation. Inaugurating the new NCP at the State House in Abuja on...
The Ministry of Aviation, has said it is working on plans to ensure that commercial airlines operating in Nigeria pay compensate to passengers for delayed or canceled flights as from January. The Minister of Aviation, Mr Festus Keyamo, said this when he appeared before the Joint Committee of...