Business and Economy

By Kadiri Abdulrahman Abuja, June 5, 2023 The Debt Management Office (DMO) has offered two Federal Government of Nigeria (FGN) Savings Bonds for subscription at one thousand Naira per unit. The DMO announced the bonds offer in Abuja on Monday. It listed the first offer as a two-year FGN Savings …

The Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, has been named ‘Best Banking CEO of the Year in Africa’ in the International Banker 2023 Banking Awards. The award, published in the Spring 2023 Issue of the International Banker Magazine, sees Dr Onyeagwu honoured alongside other …

By Lydia Ngwakwe Lagos, June 3, 2023 First Bank of Nigeria Ltd. recorded significant growth across key metrics in the first quarter of 2023. In its first quarter 2023 financial result, the bank stated that it recorded gross earnings of ₦245.7 billion, a 44.2 per cent growth against the ₦170.4 …

· DG lauds lawmakers, NNPCL, Says it’s a milestone for Cabotage implementation The Nigerian Maritime Administration and Safety Agency (NIMASA) has received support from the House of Representatives to disburse the $360 million Cabotage Vessel Finance Fund (CVFF) to qualified Nigerian shipowners. A committee of the House, in its report, …

The Central Bank of Nigeria (CBN) has debunked reports that it has devalued the Naira to N631 per dollar at the Importers and Exporters’ (I&E) window. A statement by Isa AbdulMumin PhD, Ag. Director, Corporate Communications of the apex bank, said the report, by Daily Trust Newspaper of June 1, …

By Leonard Okachie Umuahia, May 30, 2023 Gov. Alex Otti of Abia has directed the immediate freezing of all the State Government accounts and those of agencies domiciled in banks and other financial institutions in the country. Otti’s directive is contained in a statement issued in Umuahia on Tuesday by …

By Ihechinyere Chigemeri-Uwom Umuahia, May 30, 2023 Gov. Alex Otti of Abia says he is prepared to tackle the N200 billion internal and external debts left behind by Okezie Ikpeazu’s administration. Otti said this on Tuesday during an interactive session with newsmen at the end of a three-hour closed-door meeting …

  The Homebuyer Seminar, which was held in Newark, New Jersey, United States of America (USA) on Saturday turned out to be hugely informative for all the participants especially as virtually all aspects of the homebuying process were painstakingly explained to them by the key speakers, Mr. Sam Adjangba and …

IATF2023 now set for 9-15 November 2023 The Egyptian capital city of Cairo has been announced as the new host of the third Intra-African Trade Fair (IATF2023) which will now take place from 9 to 15 November 2023. The IATF2023 Advisory Council said in Cairo that the decision to change …

 By Cecelia Ijuo/Abdulrahman Abuja, May 29, 2023 President Bola Tinubu has promised to revisit the naira redesign policy of the Central Bank of Nigeria (CBN). Tinubu, who said this in his inaugural speech in Abuja on Monday, however, said that his administration would treat both the old and the new …

Lagos, May 24, 2023:  Chevron Nigeria Limited (CNL), operator of the Nigeria National Petroleum Company Limited (NNPCL) and CNL Joint Venture, has alerted the general public to beware of fraudsters circulating false recruitment information purporting same to be by CNL. In a statement by E.O.  Brikinn, its General Manager, Policy, …

  Jean Arsene Yerima receiving the Award on the behalf of Mrs. Kanayo Awani on 27 April 2023 in AbidjanThe African Export-Import Bank (Afreximbank)’s Executive Vice President, Intra-African Trade Bank, Mrs. Kanayo Awani, who doubles as Acting Executive Vice President, Business Development and Corporate Banking, has been honored with the …

At 25, armed with a degree in Chemistry from University College, London, a Master of Science degree in Accounting, Organizations and Institutions from the London School of Economics, she altered the digital roadmap of the nation by launching the first structured mobile devices distribution company in Nigeria, TD-Mobile. Defying all …

Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Company Limited (NNPCL) and CNL (NNPCL/CNL JV), has reiterated its commitment to the socio-economic development of its neighbouring communities. CNL, in a statement by Esimaje Brikinn, its General Manager, Policy, Government and Public Affairs, confirmed that at “about …

By Kadiri Abdulrahman Abuja, May 24, 2023 The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 18.5 per cent from 18 per cent. The CBN Governor, Mr Godwin Emefiele, made this known on Wednesday in Abuja, after presenting the …

By Kadiri Abdulrahman Abuja, May 24, 2023 The Central Bank of Nigeria (CBN) has announced revocation the licences of 132 Microfinance Banks, three Finance Companies and four Primary Mortgage Banks across the country. The revocation is contained in a gazetted circular signed by the CBN Governor, Mr. Godwin Emefiele, in …

Presidential Candidate of the Labour Party (LP), Mr. Peter Obi has congratulated the President of the Dangote Group, Alhaji Aliko Dangote, on the commissioning of the Dangote Petroleum Refinery and Petrochemicals company in Lagos. The facility is reputed to be the World’s Largest Single Train Petroleum Refinery. Mr. Obi extended …

By Lucy Ogalue Sharm El Sheikh, May 23, 2023 African leaders have decried failure in the Global Financial Architecture (GFA) which has impacted negatively on the economies of many developing countries on the continent. The leaders, however, called for a total overhaul of the financial architecture to ensure effective growth …

Amid encomium from eminent personalities, which included President Mohammadu Buhari and five other African heads of state, President of the pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote disclosed yesterday that the newly commissioned 650,000pbd refinery would employ over 100,000 Nigerians youths as well as generate over $21 billion, therefore …

Konga, Nigeria’s leading composite e-commerce group, after two years of extensive research and test-running, is set to further raise the bar of service delivery in the industry with the launch of KongaNow, guaranteed same day delivery of verified products, for which Konga will take complete responsibility. All you need to …

By Lydia Ngwakwe Lagos, May 20, 2023 The Chartered Institute of Bankers of Nigeria (CIBN) has said that its revenue rose to N2.06 billion in the year ended 2022. Dr Ken Opara, President/Chairman of CIBN, said this at the 2023 Annual General Meeting (AGM) of the Institute held on Saturday …

By Chijioke Okoronkwo Abuja, May 19, 2023 President Muhammadu Buhari’s National Poverty Reduction with Growth Strategy (NPRGS), an initiative aimed at reducing poverty across Nigeria, has impacted on millions of Nigerians, a presidential spokesman says. The Steering Committee of NPRGS is chaired by Vice President Yemi Osinbajo. A media update …

By Kadiri Abdulrahman Abuja, May 18, 2023 The Federation Account Allocation Committee (FAAC) has shared the sum of N655.932 billion revenue for April to the Federal Government, States and Local Government Councils (LGCs). According to a statement issued by Bawa Mokwa, the Director, Press and Public Relations, Office of the …

As part of relief interventions following the devastating nationwide floods in Nigeria, the Sterling One Foundation has launched Project Ladder, in partnership with Whitefield Foundation and Sterling Bank, to provide support for victims whose farms were affected by the floods. The project which kicked off in Ndokwa East and Oshimili …