Category: Economy

CBN Allocates Another $148m To Authorised Dealers
July 28, 2024 No Responses

CBN Allocates Another $148m To Authorised Dealers

The Central Bank of Nigeria has sold a cumulative amount of $148m to authorised dealers in the Nigerian Foreign Exchange Market (NFEM), to provide liquidity to the foreign exchange market. Acting Director of the Corporate Communications Department, Hakama Ali, explained...
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Lagos Postpones E-Call Up System For Lekki-Epe Corridor
July 27, 2024 No Responses

Lagos Postpones E-Call Up System For Lekki-Epe Corridor

The E-Call Up system on Lekki-Epe corridor, earlier scheduled to commence August 1, 2024, has been postponed by the lagos state government. The state government on Friday attributed the development to “stakeholders’ request to extend the timeliness to ...
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Again, CBN Raises Interest Rate
July 24, 2024 No Responses

Again, CBN Raises Interest Rate

The Central Bank of Nigeria (CBN) has again raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75%. CBN Governor, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee...
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Dana Motors Seals CNG Conversion Kits Mass Distribution Deal
July 22, 2024 No Responses

Dana Motors Seals CNG Conversion Kits Mass Distribution Deal

As part of the Presidential Compressed Natural Gas (CNG) Initiative, Dana Motors, one of the conversion centers, has announced participation in the mass distribution.   The  initiative marks a significant milestone in Nigeria’s journey towards...
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Seplat Energy Canvasses Prudent Management Of Oil, Gas Assets
July 22, 2024 No Responses

Seplat Energy Canvasses Prudent Management Of Oil, Gas Assets

Seplat Energy Plc has  called for prudent management of oil and gas assets in Nigeria in the country’s quest to drive growth in the energy sector and encourage expansion. The Chief Executive Officer, Seplat Energy, Mr. Roger Brown, gave t...
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Seplat Energy Concludes Media Training For  Editors, Correspondents
July 22, 2024 No Responses

Seplat Energy Concludes Media Training For  Editors, Correspondents

Seplat Energy Plc has concluded the second phase of its media training programme for journalists and media practitioners in Nigeria.   The second phase of the programme covers forty-five (45) Capital Market Editors/Correspondents as well as some Judi...
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Single Window: Shippers Council Seeks Stakeholders Collaboration
July 22, 2024 No Responses

Single Window: Shippers Council Seeks Stakeholders Collaboration

The Nigerian Shippers Council (NSC) has expressed its support for the National Single Window (NSW) Steering Committee as part of measures to promote effective operationalization of the platform. The Executive Secretary/Chief Executive Officer of NSC, Pius Akut...
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Zenith Bank Retains Position As Nigeria’s Number One Bank By Tier-1 Capital For Fifteen Consecutive Years
July 22, 2024 No Responses

Zenith Bank Retains Position As Nigeria’s Number One Bank By Tier-1 Capital For Fifteen Consecutive Years

  For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine.    This ranking places...
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ECU Partners SIFAX Shipping On Global Market Access
July 22, 2024 No Responses

ECU Partners SIFAX Shipping On Global Market Access

  ECU Worldwide, Allcargo Logistics’ wholly-owned global subsidiary and a leader in LCL consolidation, has partnered with SIFAX Shipping Company Limited, a subsidiary of SIFAX Group, to introduce LCL consolidation services to exporters especially Small and ...
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Tinubu Receives ENI Delegation
July 20, 2024 No Responses

Tinubu Receives ENI Delegation

President Bola Tinubu on Friday in Abuja received a delegation from international energy company, ENI. Tinubu commended the company for its proposed new investment in Nigeria, reiterating his vision of making the nation more globally competitive and an investm...
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CBN Allocates $106.5m To 29 FX Dealer Banks
July 20, 2024 No Responses

CBN Allocates $106.5m To 29 FX Dealer Banks

The Central Bank of Nigeria (CBN) has announced the sale of $106.5 million as foreign exchange (FX) to 29 FX dealer banks.  In a statement issued on Friday by Dr Omolara Omotunde Duke, Director, Financial Markets Department, it was disclosed...
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CBN Approves $20,000 For Each BDC Operator
July 19, 2024 No Responses

CBN Approves $20,000 For Each BDC Operator

The Central Bank of Nigeria (CBN) has approved the sale of foreign exchange (FX) to eligible Bureau de Change (BDC) operators at 1,450 naira to a dollar. The apex bank said the sum of $20,000 is to be sold to...
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Minimum Wage: Why Labour Accepted ₦70,000, By NLC, TUC
July 19, 2024 No Responses

Minimum Wage: Why Labour Accepted ₦70,000, By NLC, TUC

The Organised Labour agreed to ₦70,000 as the new minimum wage for Nigerian workers because the wage reviews in the country will no longer be every five years but once in three years, the President of the Nigeria Labour Congress...
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Ecobank To Host SMEs On Solar Energy As Alternative Power Source
July 19, 2024 No Responses

Ecobank To Host SMEs On Solar Energy As Alternative Power Source

Ecobank Nigeria is set for its SME Conference on the use of Solar Energy as an alternative source of power for businesses in Nigeria. The monthly virtual conference is part of the Bank’s  MySME Growth Series designed to empower SMEs...
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