The Nigerian Communications Commission (NCC) has reaffirmed its commitment to accelerate deployment of robust broadband infrastructure accessible to all Nigerians. This is to enhance their access to the required resources to carry out seamless digital financial services, irrespective of their locations and circumstances. The Commission gave the assurance at...
BUSINESS
By BENJAMIN ORISEMEKE, Abuja – OPEC said on Tuesday that oil demand in 2022 faced challenges from Russia’s invasion of Ukraine and rising inflation as crude prices soar, increasing the likelihood of reductions to its forecast for robust demand this year. Oil prices shot above $139 a barrel this...
By BENJAMIN ORISEMEKE, Abuja – Italian energy group Eni said it would lift a force majeure on exports of Nigerian Brass River crude oil this week after it completed repairs to a pipeline damaged by a blast. The group had cut oil and gas exports from its Brass Export...
The Managing Director of Jaiz Bank, Mr Hassan Usman, on Wednesday, said the bank would continue to support small businesses with working capital and funding for growth and expansion. Usman, who made the promise at a media parley in Lagos, noted that 20 to 25 per cent of the...
By TENEBE ANTHONIA, Lagos – Nigerian Exchange Limited (NGX) in collaboration with International Finance Corporation (IFC) – a member of the World Bank Group – hosted a training for issuers and market operators on the issuance of sustainable financial instruments on 10th and 11th March 2022. The training themed...
By BENJAMIN ORISEMEKE, Abuja – Total trade in the fourth quarter of 2021 stood at N11,707.20 billion with exports trade value of N5,766.62 billion, the National Bureau of Statistics (NBS), has said. According to Statistician General of NBS, Simon B. Harry, in a press briefing Tuesday, the import trade...
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.417 million barrels per day in February 2022. OPEC made this known in its Oil Market Report for March 2022, which was obtained by the News Agency of Nigeria ( NAN)...
By BENJAMIN ORISEMEKE, Abuja – Crude oil supply trouble got worse with Shell and Eni both declared force majeure on key oil flows from Nigeria, threatening to disrupt supplies in a market that is already being impacted by Russia’s invasion of Ukraine. Force majeure is a foreseeable circumstance that...
By BENJAMIN ORISEMEKE, Abuja – The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI) has increased by 15.70% Year on Year in the month of February. This is 1.63% lower than 17.33 per cent recorded in the previous month. The Statistician General of the Federation, Dr....
By BENJAMIN ORISEMEKE, Abuja – Access Bank Plc, has successfully commissioned and empowered 100,000 Access Closa agents to provide more than banking services to both existing and new customers across the nation. With the current number of Access Closa Agents spread across the 774 Local Government Areas in the...
By BENJAMIN ORISEMEKE, Abuja – Oil prices has eased reasonably after the number of total active drilling rigs in the United States rose by 13 this week as WTI trades near $109 per barrel. The total rig count rose to 663 this week, while U.S. producers continue to prioritize...
By BENJAMIN ORISEMEKE, Abuja – FirstBank has urged its customers to take advantage of its ongoing Verve Card campaign designed to reward customers for their continued usage of the Verve debit Card. The eight-week promo will end on Wednesday, 30 March 2022 as 2,601 customers will win various prizes....
Aviation jet A1 fuel is to be sold at N500 within the next three days to prevent airlines from shutting down. This is according to the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Limited, Mele Kyari after a meeting with marketers, regulators and operators in the...
By BENJAMIN ORISEMEKE, Abuja – The Securities and Exchange Commission (SEC), has sealed the premises of Oxford International Group/Oxford Commercial Services, Farmforte Agro Allied Solutions Limited/Agro Partnerships as well as Vektr Capital Investment/Vektr Enterprise for illegally engaging in capital market activities. The SEC said the offices of the companies...
FirstBank, Nigeria’s leading financial inclusion services provider has urged its customers to take advantage of the Bank’s ongoing Verve Card campaign designed to reward customers for their continued usage of the Verve debit Card. The Eight-week promo will end on Wednesday, 30 March 2022 as 2,601 customers will win...
By BENJAMIN ORISEMEKE, Abuja – The Minister of Transportation, Rotimi Amaechi on Sunday revealed that the Lekki Deep Seaport when completed and operational, would contribute $360 billion to the Nigeria economy over the course of 45 years. The minister who disclosed this in Lagos after the inspection of the...
The Nigeria Extractive Industries Transparency Initiative (NEITI) says over 2,000 companies operating in Nigeria’s solid minerals industry are indebted to the federation accounts to tune of N2.76 billion. The organisation disclosed this on Sunday in Abuja in a statement by its Deputy Director/Head, Communications and Advocacy, Mrs Obiageli Onuorah,...
By BENJAMIN ORISEMEKE, Abuja – The National Bureau of Statistics (NBS) has revealed that the federal government generated a total of N1.69 trillion as Company Income Tax (CIT) in 2021 out of which five companies paid over 22 percent of the money. These companies according to a report on...
By BENJAMIN ORISEMEKE, Abuja – Banks in Nigeria have stepped up measures to ration foreign currency sales to its customers, using their naira debit cards for overseas withdrawals to beef up Nigeria’s dwindling forex inflow. Nigeria’s largest DMB by market size, Zenith Bank Plc, has announced a review of...
By BENJAMIN ORISEMEKE, Abuja – The Federal Government has revealed that $20 billion has so far been invested in the free zone across the country in the last 30 years. The Minister of Industry, Trade and Investment, Otunba Adebayo made the disclosure at the inauguration of the Lagos office...