Economy Archives — Page 29 of 231

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...

July 19, 2024 No Responses

WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY

The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and...

July 19, 2024 No Responses

Firm Secures $2.67b Contract For 12 Containerships

South Korean shipbuilding giant, HD Korea Shipbuilding & Offshore Engineering (HD KSOE) has been awarded a contract to construct twelve containerships for an undisclosed shipowner. The order is split between HD KSOE’s two subsidiaries, HD Hyundai He...

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...

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...

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...

July 17, 2024 No Responses

Auto Stakeholders Commence Exhibition Of Made-In-Nigeria Vehicles

The Nigeria Automotive Industry Stakeholders Conference, anchored by Value Plus Creation and Data Technology Managers in collaboration with the National Automotive Design and Development Council (NADDC), on Wednesday, 17th July, 2024, commenced profiling...

July 17, 2024 No Responses

FG, States, LGs Share N1.354tri

THE Federation Accounts Allocation Committee (FAAC) has shared N1.354 trillion June revenue among the Federal Government, states and Local Government Councils (LGCs).The revenue was shared at the July meeting of FAAC, held in Abuja and chaired by the Minister ...

July 17, 2024 No Responses

Access Bank Raises N442b Capital Through Syndicated Tier II Facility

Access Bank Plc has announced its partnership with the Dutch Entrepreneurial Development Bank (FMO). The occasion marked the signing of a monumental syndicate Tier II Facility agreement of USD295 million (the equivalent of about N442,500,000,000), underscori...

July 16, 2024 No Responses

NDDC Boss Harps On Effective, Professional Workforce

Managing Director of the Niger Delta Development Commission, NDDC, Dr Samuel Ogbuku, has stressed the importance of an effective and professional workforce duly equipped with skills and well-motivated by sustainable wages to drive the Commission’s efforts to...

July 16, 2024 No Responses

FG Tasks New NEITI Board On Resource Mobilisation

The Federal Government has challenged the newly reconstituted Board of the Nigeria Extractive Industries Transparency Initiative (NEITI) to strengthen the agency’s drive towards domestic resource mobilization. Secretary to the Government of the Federat...

July 15, 2024 No Responses

NNPC Stake In Dangote Refinery Now 7.2 Per Cent

The Nigerian National Petroleum Company (NNPC) Limited now owns a 7.2% stake in the Dangote Petroleum Refinery, and not a 20% stake as initially announced before the inauguration of the facility at the Lekki Free Trade Zone, President of Dangote...

July 15, 2024 No Responses

NDLEA Impound Cocaine, Tramadol Hidden In Shoes, Custard Containers

The National Drug Law Enforcement Agency (NDLEA) has uncovered parcels of cocaine hidden in the soles of shoes bound for Europe. Disclosing this in a statement on Sunday, Femi Babafemi, shared videos of the seized contraband on X on Sunday,...

July 14, 2024 No Responses

Tinubu Appoints New Heads Of Federal Govt Agencies

President Bola Tinubu has approved the appointment of new Chief Executive Officers for more Federal Government Agencies, including the National Lottery Trust Fund (NLTF), National Directorate of Employment (NDE), Nigeria Hydrological Services Agency (NIHSA), N...