Business and Economy

ABUJA – In its drive to ensure the digital financial inclusion of women and youth across Nigeria, the Central Bank of Nigeria (CBN) and its stakeholders are billed to engage target groups in selected States in order to facilitate their economic empowerment and inclusion. A statement from the CBN noted …

Nestlé Nigeria PLC announced its financial results for the 9-month period ending 30 September 2021. For the period January to September 2021, the company recorded a revenue of N 261.6 billion against a revenue of N 212.7 billion during the same period in the previous year. The Company reported a …

By Lydia Ngwakwe Lagos, Oct. 25, 2021 Following the launch of the enaira by President Muhammadu Buhari, the application for the digital currency introduced by the CBN has become available for download, with more than 5000 downloads within hours of the launch. This is as the apex bank released regulatory …

Email:alex.otti@thisdaylive.com “It is not enough to be up to date; you have to be up to tomorrow” David Ben-Gurion, Israeli Statesman On October 7, 2021, the President presented the 2022 budget, to the joint session of the National Assembly. It was christened “Budget of Economic Growth and Sustainability”. For the …

By Chinyere Joel-Nwokeoma Lagos, Oct. 23, 2021  Barely 24 hours after denying notification of possible acquisition of shares by Mr. Femi Otedola, FBN Holdings (FBNH) Plc on Saturday confirmed that the business mogul had acquired 5.07 per cent equity stake in the company. FBNH’s Company Secretary, Mr. Seye Kosoko, in …

Ahead of the commencement of the 26th United Nations Climate Change Conference of the Parties (COP26) in Glasgow, Scotland next week, the GMD/CEO of NNPC Ltd, Mallam Mele Kyari has advocated for the consideration of what he calls “energy justice” in the implementation of energy transition. Discussions on countries transiting to less …

By Ginika Okoye Ibadan, Oct. 22, 2021 The Central Bank of Nigeria (CBN) says banks in the country have remained stable, robust and resilient in spite of the COVID-19 pandemic. The Director, Banking Supervision of CBN, Mr. Haruna Mustafa, said this at the 2021 Financial Correspondents Association of Nigeria (FICAN) …

By Emmanuella Anokam Abuja, Oct. 20, 2021 Chief Timipre Sylva, Minister of State for Petroleum Resources, has inaugurated the governing boards of the new entities comprising the regulatory framework for the oil and gas industry as provided for by the Petroleum Industry Act (PIA). The new entities are the Nigerian …

…MTN, Most Popular Brand  For the fourth time in a row, Dangote Group, a fully integrated Conglomerate and proudly Nigeria brand has again emerged as the most Valuable brand in Nigeria while the MTN Nigeria trailed as the Most Popular brand in the new Top of the Mind (TOM) survey …

The Nigerian National Petroleum Corporation, NNPC, on Tuesday disowned a fake quiz competition trending online which claims to celebrate its 50th anniversary. In the purported quiz contest, unsuspecting participants are encouraged to answer four questions on their knowledge of the Corporation, with the eventual winner standing the chance of winning …

By Yunus Yusuf Ikeja, Oct. 18, 2021 Delta Airlines on Monday announced plans to resume international flight operations to the U.S on Nov. 8. The resumption plan was following the lift of travel restrictions to foreign nations by President Joe Biden. The airline’s Chief Operating Officer (CEO), Mr. Ed Bastian, …

The Grand Opening and Official Commissioning of the KAY MEDICARE Hospital, located at Plot 3353 Christian Ajayi Street, Gwarinpa, Abuja, Nigeria will take place on Monday, October 18, 2021 from 12:00 PM. The Grand Opening and Official Commissioning of the health facility, which is stocked with state-of-the-art equipment, will also …

By Itohan Abara-Laserian Lagos, Oct. 15, 2021 Fidelity Bank Plc has won the 2020 Development Bank of Nigeria (DBN) service award for the highest disbursement to DBN-focused locations. The bank’s Managing Director/Chief Executive Officer, Mrs. Nneka Onyeali-Ikpe, said this in a statement on Friday in Lagos. Onyeali-Ikpe said the award …

By Aisha Cole/Lydia Ngwakwe Lagos, Oct. 14, 2021 The Central Bank of Nigeria (CBN) said on Thursday that it had supported the Lagos State Blue railway line project with N60 billion to facilitate ease of businesses and passengers’ movements in the state. The Director, Development and Finance of the  CBN, …

By Chinyere Joel-Nwokeoma Lagos, Oct. 14, 2021 The Nigerian Exchange Limited (NGX), has announced the resignation of Mr Oscar Onyema, as Non-Executive Director, ahead of NGX Group’s Friday listing. The Chairman, NGX, Mr Abubakar Mahmoud, said this in a statement on Thursday in Lagos. He said that the resignation was …

By Itohan Abara-Laserian Lagos, Oct. 13, 2021 The Group Managing Director/Chief Executive Officer, Access Bank Plc, Dr Herbert Wigwe, has been recognised for his outstanding contributions to Corporate Governance and Rule of Law in Nigeria’s banking industry. This is according to a statement by the management of Access Bank on …

By Itohan Abara-Laserian Lagos, Oct. 13, 2021 First Bank Nigeria Plc. has gone into partnership with the Nigeria Inter-Bank Settlement System Plc. (NIBSS) on its Nigeria Quick Response (NQR) payment solution. The Bank’s Chief Executive Officer, Dr Adesola Adeduntan, said in a statement issued on Wednesday in Lagos that NQR …

As a follow-up to its efforts in sustaining the current smooth supply and distribution of petroleum products nationwide within the festive period and beyond, the Nigerian National Petroleum Corporation (NNPC) has engaged critical stakeholders so as to find lasting solutions to the road network challenges and other lingering issues. It …

Worried by the high rate of unemployment in the country, the duo of Mastercard Foundation and Enterprise Development Centre (EDC) have collaborated to train and fund 40,000 youth per year in five years.  To actualize this vision, Mastercard Foundation and EDC revealed that they have already partnered with Sterling Bank …

The Petroleum Tanker Drivers (PTD) have called off their planned strike action. The development, according a statement by Garba Deen Muhammad, Group General Manager, Group Public Affairs Division Nigeria National Petroleum Corporation, NNPC, came after intensive engagement involving the leadership of the PTD, NNPC officials and other government agencies. “NNPC wishes to appreciate …

The Edo State Government and the Zinox Group, Nigeria’s leading tech conglomerate, will on Monday, October 11, 2021 sign an agreement for the supply of Information Communication Technology (ICT) tools to deepen reforms in the state’s civil and public service. Addressing journalists in Benin City, Special Adviser to Edo State …

By Nana Musa Abuja, Oct. 8, 2021 Muhammad Nami, the Chairman of the Federal Inland Revenue Service (FIRS), has said that only 41 million pay taxes in Nigeria out of the over 200 million population in the country. Nami made the disclosure at the ‘Public Presentation and Breakdown of the …

  By Chinenye Offor Abuja, Oct. 8, 2021 The Corporate Affairs Commission (CAC) says the Nigerian National Petroleum Company (NNPC) Limited had made history for being the company with the highest share capital in the country. The Registrar General, Corporate Affairs Commission, Alhaji Garba Abubakar, revealed this on Friday, in …

By Lydia Ngwakwe Enugu, Oct. 7, 2021 Mr. Mustapha Haruna, Director, Banking Supervision Department, Central Bank of Nigeria (CBN), has said that the apex bank would continue to monitor FinTech companies in Nigeria, as an important sector in its operations. Haruna, represented by Adekunle Adeniji, Assistant Director in the department, …

By Itohan Abara-Laserian Lagos, Oct. 6, 2021 In a bid to promote savings culture and reward its loyal customers, Access Bank Plc is set to reward one lucky customer with N10 million in its DiamondXtra December mega draw. The Executive Director, Retail Banking, Access Bank, Mr Victor Etuokwu, disclosed this …