Money
5 Aug 2024
First Bank of Nigeria Limited has emerged the winner of the prestigious Euromoney Award for 2024 Nigeria's Best Bank in Environmental, Social and Governance (ESG).
4 Aug 2024
The Central Bank of Nigeria (CBN) says it has concluded plans to undertake a Retail Dutch Auction System (DAS) to mitigate foreign exchange demand for eligible transactions through authorised dealers. The bank, in a recent circular, directed all deposit money banks (DMB) in the country to furnish it with a comprehensive list of outstanding legitimate…
1 Aug 2024
British banking group Barclays on Thursday logged a sliding first-half profit on a dip in revenue as it set aside more money for bad debts in the United States. It fared better than expected, however, owing to strong performance by its investment division, while it highlighted progress on slashing costs. READ ALSO:Shell’s net profit dips…
31 Jul 2024
Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year's record performance. "After delivering record profits in 2023, we had another strong profit performance in the first half of 2024, which is further evidence that our strategy is working," said Noel…
29 Jul 2024
The Authority of Heads of State and Government of the Economic Community of West African States (ECOWAS) in 1987 tinkered with the idea of a single currency for the regional bloc, which has taken so long in its incubation. Now, the recent exit of the trio of Mali, Niger, and Burkina Faso has shifted its…
4 Jun 2024
The Central Bank of Nigeria (CBN) has lifted the restrictions imposed on fintech companies and allowed them to resume onboarding new customers. This development comes after a month-long freeze implemented in April 2024 to curb peer-to-peer cryptocurrency trading by CBN. OPay and Kuda, two of the affected fintech companies, in separate statements on Monday, confirmed…
2 Jun 2024
THE Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has said Nigeria is no longer living on borrowed money. Edun explained that Nigeria no longer relies on Way and Means (W&M) from the Central Bank of Nigeria (CBN) to fund its obligations. He was responding to comments on a Channels TV interview…
21 May 2024
The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has announced a 150 basis points increase in the benchmark interest rate, raising it from 24.75% to 26.25%. Following a two-day meeting, the bank’s Monetary Policy Committee (MPC) agreed to increase the Monetary Policy Rate(MPR) for the third straight time to rein in the country’s…
13 Mar 2024
The Chancellor of Dominion University (DU), Ibadan, Bishop Victor Adelakun and General Overseer of The Calvary Bible Church, Dr. Olumide Emmanuel
11 Mar 2024
After a riotous February, naira seems to be on a new price-discovery path even as multiple estimates agree the currency is currently trading below its “fair value”, suggesting a significant appreciation that will raise the exchange rate to about N1400/$ before the end of the year.
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.
2 days ago
The Federal Government has launched a national electronic register to give real-time access to information about the assets owned by the government to attract more investments to the country.