Business and Economy

Consumers of Dangote Cement Plc, a leading cement brand in Nigeria, stand the chance of winning over N1 billion cash prizes in the Dangote Bag of Goodies Season 3 promo, tagged ‘Spell Dangote and become a multi-millionaire.’ The promo, which was launched in Lagos yesterday in the presence of regulators …

By Kadiri Abdulrahman Abuja, July 5, 2022 The Debt Management Office (DMO) has listed N250 billion Sovereign Sukuk on the Nigerian Exchange (NSE) Limited and the FMDQ Securities Exchange. The News Agency of Nigeria (NAN) reports that the N250 billion Sovereign Sukuk was issued in December 2021. Proceeds from the …

By Kadiri Abdulrahman Abuja, July 4, 2022 The Debt Management Office (DMO) on Monday announced the listing of two FGN savings bonds for subscription for the month of July. It stated that the first is a two-year savings bond due on June 15, 2024, at an interest rate of 8.2 …

By Kadiri Abdulrahman Abuja, July 4, 2022 The Central Bank of Nigeria (CBN) has released a new framework to check cybersecurity in Other Financial Institutions (OFIs). This is contained in a statement issued by the Director, OFIs, CBN, Nkiru Asiegbu. Asiegbu said that the framework was informed by the recent …

  KongaPay, a frontline mobile money platform and a member of the Konga Group, Nigeria’s leading composite e-commerce giant, has signed a landmark deal with Bibimoney, a UK-based industry leader to expand access to financial inclusion for many in Nigeria, while also raising standards in the Fintech ecosystem in Nigeria …

By Kadiri Abdulrahman Abuja, July 3, 2022 The Debt Management Office (DMO) says revenue generation is a major constraint of the Federal Government and impacts the country’s debt situation negatively. Patience Oniha, Director-General of the DMO, said this in a telephone interview with the News Agency of Nigeria (NAN) on …

JOHANNESBURG, South Africa, July 1, 2022 Despite having 620 trillion cubic feet of natural gas reserves, Africa’s over reliance on wood-based biomass energy remains high, resulting in an increase in land degradation, deforestation and greenhouse gas emissions, and in over 900 million people across the continent living without access to …

By Chiazo Ogbolu Calabar, July 2, 2022 The Calabar Port Manager, Mr. Festus Olumati, on Saturday said that the vessel traffic at the port complex between the months of January and May was 72. Olumati gave the figure during the visit of the Managing Director, Nigerian Ports Authority (NPA) Mr. …

By Ismaila Chafe Abuja, June 30, 2022 President Muhammadu Buhari has approved the renewal of the appointment of Patience Oniha as the Director-General of the Debt Management Office (DMO) for a second term of 5 years. Malam Garba Shehu, the President’s media aide, who confirmed this in a statement on …

  Bayelsa State Governor, Senator Douye Diri has arrived the United States of America (USA) at the Head of a Trade and Cultural Delegation from the oil rich State to showcase the economic potential of the state to international investors. The powerful delegation will be marketing the abundant resources of …

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. According to the global rating agency, the upgrade is a result of the Bank’s improving business …

By Kadiri Abdulrahman Kano, June 28, 2022 The Debt Management Office (DMO) says Kano has the highest number of subscribers in the Federal Government of Nigeria (FGN) Sovereign Sukuk offers. Patience Oniha, the Director-General of DMO, said this on Tuesday in Kano, at the FGN Securities Issuance Awareness Programme organised …

Fidelity Bank, a leading financial institution in Nigeria, has collaborated with ImpactHER to support 1,052 female entrepreneurs across the 36 states of Nigeria in addressing the challenges they face in their small and medium-sized businesses.  Through diverse training on digital skills and direct business support, beneficiaries from two cohorts have …

  By Kadiri Abdulrahman Kano, June 27, 2022 The Debt Management Office (DMO), says ordinary Nigerians (retail investors) also deserve a chance to operate in the country’s financial market, thereby boosting financial inclusion. Mr. Monday Usiade, DMO’s Director, Market Development Department, said this in an interview with the News Agency …

By Lydia Ngwakwe Lagos, June 26, 2022 First Bank of Nigeria Ltd. has announced the launch of the FirstGem fund (FirstGem loan) a single-digit loan scheme, targeted at female entrepreneurs. Mrs. Folake Ani-Mumuney, the bank’s Group Head, Marketing and Corporate Communications, made the announcement in a statement on Sunday in …

By Kadiri Abdulrahman Abuja, June 25, 2022 The Organised Private Sector Exporters Association (OPEXA) has appealed to the National Assembly (NASS) to urgently ratify the approval of the N375 billion Export Expansion Grants (EEG) for exporters. The News Agency of Nigeria (NAN) reports that the N375 billion represents the backlog …

By Chiazo Ogbolu Lagos, June 24, 2022 The Nigerian Ports Authority (NPA) on Friday said that 28 ships were expected to arrive Lagos ports from June 24 to July 7. According to NPA’s daily `Shipping Position’, the ships are expected to arrive at the Lagos Port Complex with petroleum products, …

A three-man panel of the Court of Appeal, Lagos Division, on Thursday, June 23, 2022, upheld the conviction of a former Managing Director of the defunct Bank PHB Plc, Francis Atuche, as well as the bank’s former Chief Financial Officer, Ugo Anyanwu. Atuche and his co-convict, Anyanwu, had approached the …

The Peter Obi Support Network (POSN) has asked the Anambra state government to release into the public domain, details of the million-dollar investments made by Mr. Obi for the state while he was the Governor. Mr. Obi, presidential candidate of the Labour Party, and former governor of Anambra state had …

By Lydia Ngwakwe Lagos, June 21, 2022 Three farmers in Lagos State have won the “Best Farmer of the Year 2021” award by the Development Finance Department of the Central Bank of Nigeria (CBN). The News Agency of Nigeria (NAN) reports that the farmers were given the awards at the …

Leading financial institution, Fidelity Bank Plc, recently commissioned the newly renovated  Madrasatul Anwarul Islam school in Zaria, Kaduna State as part of its Corporate Social Responsibility (CSR) initiatives targeted across Nigeria. Established over five decades ago by the emir’s father, late Maga in garin Zazzau, Alhaji Nuhu Bamalli, Madrasatul Anwarul …

President Muhammadu Buhari has sent a message of congratulations to the Group Managing Director/Chief Executive Officer of First Bank Nigeria Plc, Dr Adesola Adeduntan, on his recognition by Cranfield University, one of the most prestigious citadels of learning in Europe. The President’s message, by Femi Adesina, his Special Adviser (Media …

By Kadiri Abdulrahman Abuja, June 17, 2022 The Debt Management Office (DMO) says it recorded 1,322 successful subscriptions and N1.7 billion total allotments in its two Federal Government of Nigeria (FGN) bond offers for June. This is contained in the FGN bonds allotment result released by the organisation. The News …

By Zubairu Idris Kano, June 17, 2022 Employees of the Independent Petroleum Marketers Association of Nigeria (IPMAN) will not get their salaries until they obtain their Permanent Voters Cards (PVCs). This came on the heel of an earlier directive by IPMAN’s National President, Mr. Chinedu Okoronkwo, asking its employees nationwide to …