Business and Economy

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 …

Thursday June 16, 2022, Lagos The West African Gas Pipeline Company Limited (WAPCo) will hold a major event in Nigeria to mark the 10th Anniversary of the start of its Commercial Operations. The event is also aimed at appreciating our diverse stakeholders in Nigeria who have supported us through the …

…Rewards Shareholders with N12.147bn Dividend Dangote Sugar Refinery Plc has restated its commitment to the achievement of Sugar Backward integration projects, describing it as the best thing that happened to the sector. Speaking to shareholders at the 16th Annual General Meeting (AGM) of Dangote Sugar Plc, in Lagos the Chairman …

…Rewards Shareholders with N12.147bn Dividend Dangote Sugar Refinery Plc has restated its commitment to the achievement of Sugar Backward integration projects, describing it as the best thing that happened to the sector. Speaking to shareholders at the 16th Annual General Meeting (AGM) of Dangote Sugar Plc, in Lagos the Chairman …

The Shell Petroleum Development Company (SPDC) has challenged the jurisdiction of a Federal High Court in Yenagoa to hear a N700 billion oil spill compensation suit filed by members of Aghoro 1 community in Bayelsa. The people of Aghoro 1 in Ekeremor Local Government Area (LGA) in Bayelsa dragged SPDC …

Shareholders of Dangote Cement Plc yesterday commended the Management of the company for an impressive performance despite the economic challenges in the year under review. Unanimously, the shareholders approved N20 per share for the year ended December 31, 2021 as against the N16 paid in the preceding year. This represents …

The Director General, DG, of the Securities and Exchange Commission, SEC, Lamido Yuguda, will lead key financial sector experts and other stakeholders in a robust round table discussion on governments key policy which centers around inclusive financial system that will cover all strata of the society. The experts drawn from …

E-commerce in Nigeria has often been touted as a difficult terrain and not for the faint-hearted. This position is backed up by concrete facts and verifiable evidence, especially when one considers the well-documented struggles of several players in the sector. Despite the allure and glitter that the segment holds, one …

By Stanley Nwanosike Enugu, June 13, 2022 The Enugu Electricity Distribution Company (EEDC) has announced the restoration of electricity supply within all the states within the South-East, its franchise coverage area. This is contained in a statement issued by the Head, Corporate Communications, EEDC, Mr. Emeka Ezeh, and made available …

By Chijioke Okoronkwo Abuja, June 12, 2022 Vice President Yemi Osinbajo departed Abuja on Sunday for Abidjan, Cote d’Ivoire, to participate in the annual summit of the Africa CEO Forum. The vice president will participate in the event alongside other leaders in the continent and beyond. Osinbajo’s spokesman,  Laolu Akande, …

By Stanley Nwanosike   Enugu, June 12, 2022 The South-East states of Abia, Anambra, Ebonyi, Enugu and Imo will face power outages following a system collapse announced by the Enugu Electricity Distribution Company (EEDC). This is contained in a statement issued by the Head, Corporate Communications, EEDC, Mr. Emeka Ezeh, on …

DMO’s Director-General, Patience Oniha By Kadiri Abdulrahman Abuja, June 11, 2022 The Debt Management Office (DMO) and stock broking firm for the Federal Government, CSL Stockbrokers Limited, are partnering to raise security investment awareness in Ibadan and Kano. Ifeoma Ukwunna, Head, Retail Business for CSL, made this known in a telephone interview with …