Business and Economy

By Kadiri Abdulrahman Abuja, June 2, 2022 The Central Bank of Nigeria (CBN) has reviewed upwards, the operations of the Nigeria Inter-Bank Settlement System (NIBSS) and other electronic payment operations. This is contained in a circular by Musa Jimoh, Director, Payments System Management Department of the bank. Jimoh stated that the …

By Mercy Omoike Lagos, June 1, 2022 Access Bank Plc has partnered the Lagos Business School (LBS) to fund the school’s 350KW and 152KWh hybrid power solutions project through its Sustainable Use of Natural Resources and Energy Finance (SUNREF) facility. This is contained in a statement by Mr Amaechi Okobi, …

By Olawunmi Ashafa Lagos, May 31, 2022 Zenith Bank Plc says it has redeemed a balance of 107 million dollars of its 500-million-dollar Eurobond Notes, due on May 30. In a statement obtained from the Nigerian Exchange Ltd., (NGX) and signed by Micheal Osilama Otu, Group Company Secretary/General Counsel, the …

  DMO Director-General, Patience Oniha By Kadiri Abdulrahman Abuja, May 31, 2022 The Debt Management Office (DMO) says it is advisable for Nigerians to invest in the various Federal Government Securities, as they are profitable and risk-free. The Director-General of the DMO, Patience Oniha,  said this in an interview with …

By Ifeanyi Olannye Asaba, May 30, 2022 General Overseer of Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, on Monday, inaugurated a branch of the Premium Trust Bank in Asaba, Delta. The News Agency of Nigeria (NAN) reports that Pastor Adeboye, who was the Special Guest, was accompanied to the …

The number of big shots in the current administration that may be consumed by the ongoing probe of the Accountant General of the Federation (AGF), Ahmed Idris, are increasing on a daily basis as the investigation proceeds. A highly placed source in the anti-corruption circle has informed Economic Confidential, that …

The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery will guarantee availability of high quality environmentally compliant products in Nigeria, regional markets in West Africa, Southern Africa and inter-continental markets. The President/CE of Dangote Group, Aliko Dangote made this disclosure at the Nigerian Content Midstream – Downstream Oil and Gas …

The Pan-African and fully integrated conglomerate, Dangote Industries Limited (DIL) has again emerged as the most Admired Brand in Africa for the year 2022, for its leadership position in driving quality brands across the continent. Dangote won awards in 8 different categories, on Wednesday at the venue of the award …

Emefiele By Kadiri Abdulrahman Abuja, May 25, 2022 The Central Bank of Nigeria (CBN) says online media reports purporting the sacking of the bank’s governor, Mr. Godwin Emefiele, are untrue. Head of Corporate Communications at the CBN, Osita Nwanisiobi, made the rebuttal on Wednesday in Abuja when he spoke with the News …

By Kadiri Abdulrahman, Abuja/Ige Adekunle, Sango-Ota (Ogun) May 24, 2022 For the first time in over two years, the Central Bank of Nigeria (CBN) has increased the Monetary Policy Rate (MPR) to 13 per cent. Mr. Godwin Emefiele, Governor of the CBN, said this while reading the 285th communiqué issued at the …

The newly appointed overseer of the Office of the Accountant General of the Federation (OAGF), Anamekwe Nwabuoku, has a heavy corruption dossier and is being investigated by the Economic and Financial Crimes Commission (EFCC), Economic Confidential can authoritatively report. Nwabuoku was on Sunday appointed to oversee the office in the absence of …

  The Federal Government has appointed Mr. Anamekwe Nwabuoku to oversee the office of the Accountant-General of the federation (OAGF). The appointment was announced in a statement issued on Sunday by Yunusa Abdullahi, spokesperson to the Minister of Finance, Budget and National Planning, Zainab Ahmed. Nwabuoku’s appointment comes amid a …

  Energy company, Shell, has inaugurated the second and final phase of its comprehensive health care projects for Oloibiri and other communities in Ogbia Local Government area of Bayelsa State. “Corporate Social Responsibility means doing well. What you have done today means you’re doing well. You are impacting the lives …

The management of Zinox Technologies Ltd., Nigeria’s foremost tech giant, has reacted with sadness to the news of the passing of David Kan, a founding member of its Board of Directors and CEO of Mustek Plc, a leading integrated technology group listed on the Johannesburg and Taiwan Stock Exchanges. David …

Leading financial institution, Fidelity Bank Plc, has announced plans to host an exports roundtable and policy sensitisation workshop for businesses in Benin-City, Edo State capital in partnership with the Edo State Investment Promotion Office (ESIPO) and GIZ on Tuesday, 24 May 2022. The event, which would be the fourth edition …

Abuja: May 18, 2022 A comprehensive Diaspora Housing Mortgage Scheme is set to be inaugurated in Nigeria. Hon. (Dr.) Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), stated this when she visited the Management and Staff of the Federal Mortgage Bank of Nigeria (FMBN) in Abuja. This is coming after …

By Solomon Asowata Lagos, May 18, 2022 Seplat Energy Plc has recorded a pre-tax profit of 177 million dollars for the year ended December 2021. The amount is 321 per cent higher than the 80 million dollars recorded by the company, which is listed on the Nigerian Exchange and the …

A cardinal goal of the federal government is to transform the Nigerian economy into a gas-powered economy by 2030. Ancillary to that is the hope to align the country with the global push for transition to cleaner sources of energy. To achieve that lofty goal, the federal government adopted gas …

Dr. (Mrs.) Abike Dabiri-Erewa, Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM) and Mr. Madu Hamman, the Managing Director of Federal Mortgage Bank (FMBN) and some Directors of the bank. By Maureen Okon Abuja, May 17, 2022 Nigerians in Diaspora Commission (NiDCOM) on Tuesday partnered with the Federal Mortgage Bank (FMBN) …

In the first three months of the 2022 financial year, Dangote Cement has recorded a 24.2 percent increase in its revenue and an 18 percent increase in its profit after tax for the same period. Unaudited results for three months ended 31st March 2022, showed revenue of N413.2 billion and a …

Speculations of a potential takeover of pan-African e-commerce firm Jumia Technologies by the Zinox Group, Sub-Saharan Africa’s leading tech conglomerate, has seen shares of the e-commerce giant rise by 14.81 per cent. Investigations show Jumia’s shares currently trading at $5.89 on the floor of the New York Stock Exchange (NYSE) …

Operatives of the Economic and Financial Crimes Commission, EFCC, on Monday, May 16, 2022 arrested serving Accountant General of the Federation, Mr. Ahmed Idris in connection with  diversion of funds and money laundering  activities to the tune of N80billion (Eighty Billion Naira) only. A statement by Wilson Uwujaren, Head,  Media …

TD Africa, Sub-Saharan Africa’s leading tech and lifestyle products distributor, is marking its 23 years of leadership in the ICT distribution segment with a special anniversary sale tagged Sellerbration. The company turned 23 on Sunday, May 15, 2022. Consequently, the management of TD Africa is rolling out the drums to …

Prof. Bolaji Owasanoye, ICPC Chairman By Philomina Attah Abuja, May 15, 2022 The Chairman, Independent Corrupt Practices and Other Related Offences Commission (ICPC), Prof. Bolaji Owasanoye, has rallied a global action against Illicit Financial Flows (IFFs), including a call for global framework on IFFs similar to corruption. Owasanoye made this …

The panel of judges for The Nigeria Prize for Science has received theentriesfrom scientists worldwide for the 2022 edition, signalling the commencement of the race to find a winner with the best scientific or research work on the theme “Innovations in Sustainable Food Security.” The prize, worth $100,000, is sponsored …