Money
1 day ago
LAPO Microfinance Bank (LAPO MfB) has reaffirmed its commitment to financial inclusion and small and medium-sized enterprise (SME) empowerment through a high-level engagement with the Premia Business Network (PBN) delegation in Lagos. The meeting, held at LAPO Place, brought together over 30 startup founders, senior executives, and key decision-makers from the financial services and fintech…
3 days ago
The central parity rate of the Chinese currency Renminbi, or the Yuan, strengthened 22 pips to 7.1692 against the dollar on Thursday. This is according to the China Foreign Exchange Trade System. The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before…
4 Mar
There are indications that the Central Bank of Nigeria (CBN) may appoint 16 new directors soon. It was gathered that the appointments may have received the go-ahead from the board of the apex bank. Those on the list include Abdullahi Hamisu, who is designated to man the Banking Services Department, while Ojomu Adenike Olubunmi is…
4 Mar
The International School of Deposit Insurance Studies (ISDIS), in collaboration with the University of Nigeria Business School (UNNBS), has unveiled a suite of specialized certification courses to address operational risks and skill gaps in the financial services industry. It also explained that the programs would provide a structured learning pathway for professionals seeking to enhance…
2 Mar
A new report by the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that fraudsters exploited weaknesses in the banking system to steal over N1 billion using Bank Verification Numbers (BVNs) illegally registered for minors. The report revealed a growing trend of financial fraud, with compromised bank officials and agents facilitating the illegal registration of BVNs…
1 Mar
Prior to Nigeria’s independence in 1960, agriculture was the mainstay of its economy, even as reflected in the economic activities of the regions there were in the country at that time.
27 Feb
The Chairman of Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Dr Mohammed Shehu, has called for urgent need to address dwindling allocations for sustainable revenue generation. Shehu also called for effective collaboration among relevant stakeholders for innovative revenue strategies to meet public service demands at all levels of government. He made the call on Wednesday…
20 Feb
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Thursday voted unanimously to retain the Monetary Policy Rate
17 Feb
The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened four pips to 7.1702 against the dollar on Monday. This is according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate…
30 Jan
The naira further appreciated at the official market on Wednesday, trading at N1,510.72 to a dollar. Data from the FMDQ Security Exchange official forex trading platform revealed that the local currency gained N11.96. This represented a 0.78 per cent gain, compared to the trading figure on Tuesday, when the naira closed trading at N1,522.68 to…
22 Jan
Nigeria's total public debt rose by 5.97 per cent, or N8.02 trillion, to N142.3 trillion as of September 30, 2024, the Debt Management Office (DMO) has said. Nigeria has been battling a rising debt profile, for which experts have expressed concern that the debt may not be sustainable. The DMO said the rise was driven…
21 Jan
US President Donald Trump's decision to withdraw from a global minimum tax agreement on his first day in office has unnerved EU officials, who expressed "regret" over the move. Trump signed a flurry of executive orders within hours of taking the oath of office on Monday, pulling the United States out of the Paris Climate…
15 Jan
Telecommunications operators have been authorised to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions due to unpaid debts. This directive was given by the Nigerian Communications Commission (NCC) in a public notice, Wednesday, signed by the Commission’s Director of Public Affairs, Reuben Muoka. The NCC said affected banks must settle…
2 hours ago
The Edo State Police Command has announced the arrest of a 27-year-old man identified as Uwadiae Airebiuwa, who was caught with a fresh human head. The Spokesperson for the command, Moses Yamu, stated that the arrest took place on March 7, 2025, at Igbinudu Street, Evbuotubu Quarters, Oredo Local Government Area of the state. He…
1 day ago
Transnational Corporation Plc, Nigeria’s leading listed conglomerate, has announced its financial results for the year ended December 31, 2024. Consistent with its track record, the Group sustained its strong growth trajectory across its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with a revenue of…
1 day ago
As part of efforts towards achieving clean energy and industrial diversification, the federal government has set a target to ensure that at least 30 per cent of locally produced vehicles in Nigeria are electric. Minister of State for Industry, Trade, and Investment, John Uwan-Enoh, disclosed this yesterday at the unveiling of Africa’s largest locally assembled…
1 day ago
JMG Limited, a leading provider of electro-mechanical solutions in Nigeria, joins the global community in celebrating World Engineering Day for Sustainable Development, emphasising the critical role of engineers in advancing the Sustainable Development Goals (SDGs).
1 day ago
The Nigerian Maritime Administration and Safety Agency (NIMASA) has called on the government of Denmark to advocate for a reduction in war risk insurance premiums on ships bound for Nigerian ports, citing the significant improvements in maritime security in the Gulf of Guinea.
1 day ago
Every year, over 280 million tyres reach the end of their useful life globally, with only a fraction—around 30 million—being retreaded or reused. The remaining 250 million scrap tyres often end up in landfills or illegal dumpsites
1 day ago
No fewer than 30 per cent of Nigeria’s 24 million registered Micro, Small, MediumEnterprises (MSMEs) shut down between 2023 to 2024, the Nigerian Economic Summit Group (NESG) has said.
1 day ago
In commemoration of International Women’s Day, Nestlé Professional, an arm of Nestlé Nigeria, has successfully hosted the 10th edition of its Business of Food workshop in Benin.
1 day ago
A top research and marketing intelligence firm, Stonehill Intelligence & Marketing Limited is reinforcing its commitment to delivering high-quality, data-driven insights to businesses across Nigeria.
1 day ago
Industry leaders, policymakers, and financial experts have called for a more robust fiscal policy framework to enhance the development of gas and other infrastructure in the country.