The Debt Management Office (DMO) has listed two new Federal Government of Nigeria (FGN) savings bonds for subscription at N1,000 per unit. According to the DMO, the first one is a two-year savings bond maturing on June 15, 2024, at an interest rate of 8.20 per cent per annum....
BUSINESS
Oil prices on Friday fell after Saudi Arabia and other OPEC+ states agreed to bring forward oil production rises to offset Russian output losses because of Western sanctions. The downside, however, remained capped by signs of tight global supply and expectations of increased demand as China eases its COVID-19...
By JOY ADARA, Abuja – The Federal Inland Revenue Service (FIRS) has stated that it will commence the process of enforcement and recovery of unremitted tax deductions owed by some States and Local Governments in Nigeria. This decision is contained in a Public Notice, signed by its Executive Chairman,...
The volume of trade between Namibia and Nigeria has hit 10 million dollars, says Mr Humphrey Geiseb, High Commissioner of Namibia to Nigeria. Geiseb said this while briefing newsmen in Abuja on a wide range of issues centered on the country’s plan to deepen Namibia-Nigeria bilateral relations. According to...
…As NCC’s Second Telecoms Leadership Summit holds in Lagos The Nigerian Communications Commission (NCC) has hosted the second edition of the Nigerian Telecoms Leadership Summit, in line with its tradition and commitment to engage with stakeholders in the telecom ecosystem with a view to pursuing proactive regulatory interventions targeted...
Nigeria’s crude oil production has increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos, showed that the country’s crude oil production averaged 1.42mbpd in May. The figure is...
With a significant cut in its impairment charges (which translates into a clean loan book) in its 1Q, 2022 results, after it successfully brought down its non-performing loan to 6.1 per cent in 2021 full year performance, analysts say the repeat of the impressive performance of FirstBank in the...
By JOY ADARA, Abuja – The U.S. Ambassador to Nigeria, Mary Leonard, says Nigeria will continue to be eligible for preferential trade access to U.S. market under the African Growth and Opportunity Act (AGOA). Leonard said this when she visited the Minister of Industry, Trade and Investment, Otunba Adeniyi...
A passenger plane with 22 people on board went missing in Nepal on Sunday, the operating airline and officials said, as poor weather hampered a search operation. Nepal’s air industry has boomed in recent years, carrying goods and people between hard-to-reach areas as well as foreign trekkers and climbers....
The Central Bank of Nigeria (CBN) has urged Nigerian banks to support indigenous companies in order to increase foreign exchange inflows and boost economic growth. A CBN team on inspection of projects funded through Deposit Money Banks in Lagos, gave the advice late on Friday. It noted that the...
Mr Olufunwa Akinmade, Divisional Head, Retail, SME Banking and E-Business, Unity Bank Plc, has described the bank’s latest retail product ‘Yanga’ as a unique product aimed at empowering the underbanked women entrepreneurs in Nigeria. Akinmade, who stated this during a chat with the media on Friday, noted that a...
As financial market analysts continue to digest the 2021 financial results of the FirstBank Limited, which they say reflect the return of the banking conglomerate to its leadership position, Festus Akanbi writes that the regime of strong fundamentals which the robust performance represents is in tandem with the ongoing...
After appreciating for two days, the Naira on Thursday dipped against the green back by 0. 21 per cent at the Investors and Exporters window. The local currency exchanged at 418.88 to the dollar, compared to 418 traded on Wednesday. The open indicative rate closed at N419 to the...
The Ecobank Transnational Incorporation (ETI), the parent company of the Ecobank Group, has paid out a total dividend of 40 million dollars to shareholders. The Group Chief Executive Officer (CEO) and Executive Director of ETI, Ade Ayeyemi, made the disclosure during a hybrid event of ETI’s 34th Annual General...
…set to strengthen strategic collaboration with NIM The Nigerian Communications Commission (NCC) has once again reiterated its stance on professionalizing its workforce and strengthening collaborations with strategic partners such as the Nigerian Institute of Management (NIM) in order to enhance operational efficiency. The Executive Vice Chairman (EVC) of NCC...
By JOY ADARA, Abuja – The Nigerian Communications Commission (NCC) has reiterated its stance on professionalizing its workforce and strengthening collaborations with strategic partners such as the Nigerian Institute of Management (NIM) in order to enhance operational efficiency. The Executive Vice Chairman (EVC) of NCC Prof. Umar Danbatta, stated...
The CBN has increased its funding and interventions in various sectors to boost economic growth. Governor of the CBN, Mr Godwin Emefiele, said this on Tuesday in Abuja while presenting a communique issued at the end of the bank’s Monetary Policy Committee meeting. He said the intervention schemes were...
The decision of the Monetary Policy Committee of the Central Bank of Nigeria (CBN) to raise the benchmark interest rate to 13 per cent was received by some economists on Tuesday with mixed reactions. While some told the News Agency of Nigeria (NAN), in separate interviews in Lagos, that...
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 end of the apex bank’s Monetary Policy...
Nigeria’s Gross Domestic Product (GDP) grew by 3.11 per cent (year-on-year) in real terms in the first quarter (Q1) of 2022, the National Bureau of Statistics (NBS) has said. In its latest report published on Monday, the NBS revealed that the figure showed sustained positive growth for the sixth...