Business and Economy

The Central Bank of Nigeria (CBN) has dismissed reports in some media outlets about a recommendation for the Federal Government to take over some financial institutions it supervises, insisting that “Nigerian banks remain safe and sound.” The apex Bank, in a statement by Sidi-Ali, Hakama (Mrs.) its Ag. Director, Corporate Communications, …

By Azubike Ugwu In the last three days, we have seen a storm of allegations regarding the ownership of Titan Trust Bank Limited (TTB) and Union Bank of Nigeria Plc (“Union Bank”), and this has captured public attention. These claims, reportedly stemming from a report submitted to the President by …

Former Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, has said that the allegations against him, contained in a report by Mr. Jim Obazee, the private investigator into the affairs of the CBN, appointed by President Bola Tinubu, are false, misleading, barefaced lies and satanic. In a statement, Emefiele …

By Nathan Nwakamma Yenagoa, Dec. 24, 2023 The  Bayelsa government, says  it will not  allow a protest planned for Dec. 26 to disrupt oil production at Oil Mining Lease (OML) 29, operated by Aiteo Eastern Exploration. The Bayelsa government in a statement on Sunday by the Commissioner for Information, Orientation …

By Cecilia Ologunagba New York, Dec. 24, 2023 Remitly, a U.S.-based money transfer company has solicited the patronage of Nigerians living in U.S. to boost its business. Remitly director, Mohammed Mardah, who made the call in an interview with the News Agency of Nigeria (NAN) in New York also called …

By Kadiri Abdulrahman Abuja, Dec. 23, 2023 The Central Bank of Nigeria (CBN) has lifted the  ban it imposed two years ago on cryptocurrency transactions in the Nigerian banking system. The CBN announced the reversal of the policy in a circular by Haruna Mustapha, its Director, Financial Policy and Regulation. Mustapha …

— NSML inducts 50 cadets for CoC training, examinations. – We are committed to industry capacity development – Jamoh. The Nigerian Maritime Administration and Safety Agency (NIMASA) has signed a training agreement with the Nigerian Liquified Natural Gas, NLNG Ship Management Limited, NSML, to facilitate Certificate of Competency (CoC) examinations for …

…Provides Digital Feedback Box to address complaints The Central Bank of Nigeria (CBN) says it has been made aware of “alleged cases of collusion between some Deposit Money Banks (DMBs) and Point-Of-Sale (PoS) operators affecting the availability of cash and disrupting the seamless circulation of the Naira.” In a statement by Sidi-Ali, …

By Emmanuella Anokam Abuja, Dec. 20, 2023 The Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company (NNPC) Ltd., Mr. Mele Kyari, says the company will utilise Nigeria’s abundant gas resources to revolutionise the nation’s power and industrial sector. Kyari said this in Abuja at a Shareholders Agreement (SHA) signing …

The Nigerian Content Development and Monitoring Board (NCDMB) has assured that patronage and deployment of indigenous oil and gas service companies would remain of strategic importance to take advantage of the massive development of operational capabilities since the implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act …

Lagos, Nigeria – December 18, 2023 The Association of Corporate & Marketing Communications Professionals in Banks in Nigeria (ACAMB) has announced with deep sadness the passing of its esteemed Publicity Secretary, Mr. Abdul Kolawole Imoyo. Mr. Imoyo, a highly regarded corporate media manager and Journalist, breathed his last in the …

•Governor commissions middle-level Fresh Food Market in Mushin, expands food supply chain •’Sanwo-Olu has paid us back in goodwill’ – Iyaloja Mushin Lagos State Governor Babajide Sanwo-Olu, on Sunday, launched a fresh palliative scheme for low-income traders across local markets in the State, as part of measures being taken to …

The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has won this year’s The Whistler Newspaper‘s Award for Transparency and Innovation. The Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari received the award from the Executive Governor of Abia State, His Excellency, Alex Otti, on behalf of the Company …

In a groundbreaking move that echoes the commitment to empower, inspire, and drive positive change, the International Billionaire Christian Conference (IBCC) has announced the second edition of its meeting with the theme: Power, Wealth and Technology. This year’s conference will have the added attraction of the launching of a startup …

…Ex-ICPC Boss canvasses stronger dissemination of CAPAR principles The Common African Position on Asset Recovery (CAPAR) has been described a vital policy instrument for the recovery and management of African assets from foreign jurisdictions. This is the position of both the African Union Advisory Board Against Corruption (AUABC) and the …

*UN, World Bank, EU concerned *Nigeria may loose millions of dollars support from devpt partners, private sector Nigeria’s development partners are worried that there are no estimates in the 2024 Budget of the Federal Government for the Safe Schools Initiative established by the FG and a host of international stakeholders …

The newly appointed Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe has assumed office and held his first official meeting with the Directors and management of the Board. Ogbe was appointed on Thursday by President Bola Tinubu, replacing Engr. Simbi Kesiye Wabote, who …

ABUJA The Central Bank of Nigeria (CBN) has again assured members of the public that it is addressing the reported cases of cash scarcity in some major cities across the country. It attributed the current situation to the hoarding of the Naira by some persons due to challenges experienced during …

Gov. Alex Otti of Abia (c) presenting the 2024 Appropriation Bill of N567.2 bn to the State House of Assembly in Umuahia on Tuesday (NAN Photo)  By Ihechinyere Chigemeri-Uwom Umuahia, Dec. 12 , 2023 Gov. Alex Otti of Abia on Tuesday presented N567.2 billion Appropriation Bill for the 2024 fiscal year …

By Femi Ogunshola Abuja, Dec. 12, 2023 The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says the administration of President Bola Tinubu will account for revenue from oil. Edun said this when he appeared before the House of Representatives Committee on Appropriation to defend the …

By Kadiri Abdulrahman Abuja, Dec. 11, 2023 The Central Bank of Nigeria (CBN), on Monday, announced the suspension of the processing fees on cash deposits  charged banks and other financial institutions till April, 2024. The suspension is contained in a circular signed by Dr Adetona Adedeji, the Director, Banking Supervision, …

The Central Bank of Nigeria (CBN) has assured Nigerians that the country’s banks are healthy and that none of them have failed the Capital Adequacy Ratio (CAR) stress test for international authorisation. The apex bank, in a reaction by  Sidi Ali, Hakama (Mrs.) Ag. Director, Corporate Communications, said that media …

Leading financial institution, Fidelity Bank, has been listed as one of the most capitalized banks in Nigeria based on Q3 2023 financial results. According to an article published in Thisday newspapers, the bank reported a capital base of N410.75 billion as of September 2023 against N314.3 billion in 2022. Also …

•Says Lagos needs N7tn to meet infrastructure challenges •LASG seeks collaboration with private sector Lagos State Governor, Mr. Babajide Sanwo-Olu on Friday assured the business community that his administration will not allow disruption of businesses in the State. Governor Sanwo-Olu gave the assurance during the 2023 Lagos Corporate Assembly, a …

…. Knocks N35.961b for Tinubu/Shettima office renovation, aides’ trips. In continuation of his reactions to the 2024 federal government’s budget proposal which he promised to dissect fully, the Presidential Candidate of the Labour Party in the February 25, 2023 general election, Mr. Peter Obi says that snippets of the budget …