Category: Economy

Obaseki Faults CBN’s New Monetary Policy
March 5, 2024 No Responses

Obaseki Faults CBN’s New Monetary Policy

The Governor of Edo State, Godwin Obaseki, has faulted the Central Bank of Nigeria for raising the Monetary Policy Rate by 22.75 per cent. Obaseki contended that the decision is not the answer to the ongoing economic challenges in the...
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Onyema, Murray-Bruce seek Support For Investments in Nigeria As Innoson Bags Silverbird Award
March 5, 2024 No Responses

Onyema, Murray-Bruce seek Support For Investments in Nigeria As Innoson Bags Silverbird Award

Key players in the nation’s business circle, including Senator Ben Murray-Bruce and Chief Allen Onyema, have called on Nigerians to support local investments to boost the country’s economy. The calls were made on Sunday when Chief Innocent Chukwuma...
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Experts Propose Advancing AfCFTA  Implementation As Theme Of Next Conference Of Ministers
March 3, 2024 No Responses

Experts Propose Advancing AfCFTA  Implementation As Theme Of Next Conference Of Ministers

The next Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development (COM2025) will be held in Ethiopia in March 2025. A statement issued on Sunday explained that at the closing of the Experts Segment of...
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FG Approves 90-Day Window For Payment Of Duty On Improperly Imported  Vehicles 
March 3, 2024 No Responses

FG Approves 90-Day Window For Payment Of Duty On Improperly Imported  Vehicles 

To  enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, has announced a 90-day window for regularizing import duties on specific ca...
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FG Pledges Mineral Data To Aid Qattari Businessmen
March 3, 2024 No Responses

FG Pledges Mineral Data To Aid Qattari Businessmen

Comprehensive data on the pattern and quantity of energy mineral Lithium are available at the Nigerian Geological Survey Agency for businesses interested in establishing lithium companies in Nigeria.Solid Minerals Development Minister Dr. Oladele Alake made th...
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Africa Prudential Appoints Catherine Nwosu CEO
March 2, 2024 No Responses

Africa Prudential Appoints Catherine Nwosu CEO

Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange Group (NGX Group), has announced a historic leadership transition.  Effective March 1, 2024, Catherine Nwosu will become the company’s first female Chief Executive Offic...
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MTN Nigeria Records N740b Forex Losses
March 2, 2024 No Responses

MTN Nigeria Records N740b Forex Losses

MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion in 2023.  The company attributed the losses to a massive foreign currency loss of N740 billion up from N81 billion reported...
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CBN Revokes Operational Licenses Of 4,173 BDCs
March 1, 2024 No Responses

CBN Revokes Operational Licenses Of 4,173 BDCs

The Central Bank of Nigeria (CBN), in exercise of the powers conferred on it under the Bankand Other Financial Institutions Act (BOFIA) 2020, Act No. 5, and the Revised OperationalGuidelines for Bureaux De Change 2015, has revoked the licenses of...
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Owerri Customs Impounds N5.35b Contrabands In 2023
March 1, 2024 No Responses

Owerri Customs Impounds N5.35b Contrabands In 2023

Between January and December, 2023, the Nigerian Customs Service (NCS), Federal Operations Unit (FOU), Zone C, Owerri, recovered N5.5billion from smugglers and fraudulent importers. A statement on Friday explained that the unit intercepted contraband from smug...
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NLNG Seeks Enhanced Digitalisation In The Nigerian Energy Sector
February 29, 2024 No Responses

NLNG Seeks Enhanced Digitalisation In The Nigerian Energy Sector

Nigeria LNG Limited (NLNG) has called on players in the Nigerian energy industry to draw insights from NLNG’s ongoing integration of digital technologies to improve operational efficiency, reduce emissions, increase revenue and remain competitive as it d...
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Air Peace Unveils London Flight Fares, Offers Return Economy For N1.2m
February 28, 2024 No Responses

Air Peace Unveils London Flight Fares, Offers Return Economy For N1.2m

Air Peace has gone live with its flight schedules for its London service billed to commence on March 30, 2024, with unbeatable fares. The airline disclosed this on Wednesday, February 28, 2024, in a press statement obtained by City Business...
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Market Capitalisation Drops By N51billion
February 27, 2024 No Responses

Market Capitalisation Drops By N51billion

The market capitalisation of the Nigerian Exchange Ltd. (NGX) Monday dropped by N51 billion. Specifically, the market capitalisation opened at N55.861 trillion to close at N55.810 trillion, representing 0.09 per cent decrease.The All-Share Index also dropped b...
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FEC Approves Implementation Of Oronsaye Report
February 27, 2024 No Responses

FEC Approves Implementation Of Oronsaye Report

The Federal Executive Council (FEC) has approved the full implementation of the Stephen Oronsaye Panel report to merge some parastatals, agencies, and some commissions, while others will be subsumed, scrapped or relocated. The decision was made at the FEC meet...
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ECOMOF 2024: UBA Reiterates Support For African Economic Expansion Through Strategic Supports For Mining, Oil Sectors
February 25, 2024 No Responses

ECOMOF 2024: UBA Reiterates Support For African Economic Expansion Through Strategic Supports For Mining, Oil Sectors

United Bank for Africa (UBA) Plc has reaffirmed its unwavering commitment to spearhead economic growth across the continent through targeted policies aimed at maximizing the benefits derived from the mining and oil sectors.  To this end, the bank is poise...
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