PenCom Orders Recap, Raises PFAs Shareholders Fund To N5b
The National Pension Commission (PenCom) has ordered recapitali-sation in the pension industry, The Nation has learnt. The Commission has raised…
Month: April 2021
Airtel Africa Appoints Olusegun Ogunsanya As CEO
Airtel Africa Plc has announced the appointment of the Managing Director and Chief Executive Officer of Airtel Nigeria, Olusegun Ogunsanya,…
CBN Sacks All First Bank Directors (See Governor Godwin Emefiele’s Statement)
The Central Bank of Nigeria (CBN) has sacked all the board members of First Bank Nigeria Ltd and First Bank…
First Bank: The N75bn Otudeko Loan Crisis
Facts are emerging on the board room crisis that precipitated the sack of Adesola Kazeem Adeduntan as the managing director/…
NNPC Writes Accountant-General Over N111billion Shortfall In Oil Revenue, Says No Contributions To Federal Allocations For April, May
The NNPC would therefore not be contributing to the FAAC for April and May which will in turn affect the…
Nigerians Spending N190bn On American Education In 2020 Is Indicting – ASUU, NUT
The Academic Staff Union of Universities, ASUU, and the Nigeria Union of Teachers, NUT, have said the revelation by the…
BLS International Seals Biometric Services Deal For Nigerians Living In UK
A partnership deal has been struck between outsourcing service provider BLS International and data and digital enrolment services firm Files Solutions Limited to help…
Nigeria Records 1.6m Grams Of Gold Production In 5 Years – Minister
Dr Uchechukwu Ogah, Minister of State, Ministry of Mines and Steel Development (MMSD) says the ministry recorded 1,562,720 grams of…
Nigerian Central Bank Warns Staff Of Increasing Risk Of Kidnap
Nigeria’s central bank warned its employees to take extra precautions against kidnappings because of deteriorating security in the West African…
The Two Big Themes In The Crypto Market Right Now
For all the hype about Bitcoin these days, its momentum has actually quieted down a little bit lately. After almost…
Weaponizing Dollar Risks Echo Of Sterling’s Decline, Study Says
U.S. officials leveraging the dollar’s dominance as a reserve currency to wield influence should heed the lessons of the Sterling…
Reps Give Immigration 72 Hours To Clear Backlog Of Passport Booklets
At the plenary session on Thursday, the green chamber also asked the federal ministry of interior to review its agreement…
Gold Gains As Dollar Slips After Dovish Fed
Gold prices rose on Thursday as the dollar weakened after the U.S. Federal Reserve decided to keep interest rates low…
Nigerian President Asks For U.S. Support To Tackle Insecurity
Nigerian President Muhammadu Buhari asked the U.S. to support Africa’s efforts in tackling growing insecurity in the region. Washington should…
WEEKAHEAD-AFRICA-FX-Kenyan, Nigerian Currencies Seen Range-Bound
Kenya’s and Nigeria’s currencies are expected to trade within existing ranges in the coming week, analysts and traders said. Tanzania’s…
Worsening Insecurity To Trigger Higher Inflation, Poverty, Says LCCI
The Lagos Chamber of Commerce and Industry (LCCI) has raised concerns about the worsening security situation in the country, stating…
Dollar Left Defenseless By Dovish Fed, Euro Muscles Higher
The dollar was on the defensive near nine-week lows on Thursday as a decidedly dovish outlook from the U.S. Federal…
FG Declares Monday Public Holiday
Minister of Interior, Rauf Aregbesola, made the declaration in a statement signed by the Permanent Secretary of the ministry, Dr.…
Turkey’s Central Banker To Weigh Up Inflation After Lira Slump
Turkey’s new central bank Governor Sahap Kavcioglu is expected to raise inflation forecasts on Thursday after his appointment unleashed a…
Nigeria Facing Extraordinary Security Challenges – US
United States Secretary of State, Antony Blinken, has described the security challenges facing Nigeria as extraordinary. He said this during…
Nigeria’s Fuel Supply Outlook Bleak Amid Forex Crisis – Report
The outlook for petroleum products supply in Nigeria is bleak as foreign exchange scarcity continues to hamper importation by private…
NCC Urges Banks, Others On Bankability Of IP Assets
Accepting Intellectual Property (IP) as collateral assets will go a long way to support Small and Medium-Sized Enterprises (SMEs) in…
Oil Holds Gains Near Six-Week High On Rising Demand Optimism
Oil was steady near a six-week high as signs of strengthening demand in key markets offset concerns a Covid-19 resurgence…
Government Money Seen Powering U.S. Economy In First Quarter
U.S. economic growth likely accelerated in the first quarter, fueled by massive government aid to households and businesses, charting the…
Oil Prices Extend Gains As Bullish Demand Outlook Outweighs India Concerns
Oil prices extended gains on Thursday after rising 1% the previous session, as bullish forecasts on recovering demand this summer…
Nigeria Lawmakers Expand Powers Of Firm Buying Banks’ Bad Debts
Nigerian senate passed a bill that strengthened the power of state-owned Asset Management Corp. of Nigeria to recover bad loans…
CBN Urged To Constitute Special Tribunal On Resolution Of Islamic Banking Issues
A former member of the Central Bank of Nigeria’s (CBN) Financial Regulation Advisory Council of Experts and now a professor…
HSBC Says Bank Of England To ‘Taper’ In May
HSBC have become the latest UK lender to predict the Bank of England will begin the process of tightening UK monetary conditions at…
Nigeria’s Bitumen Reserves Hit 42 Billion Barrels
Bitumen reserves in the country have grown to about 42 billion barrels out of which 43 industrial chemicals, including heavy…
Biden To Unveil $1.8 Trillion Plan For Children And Families – Here’s What’s In It
President Joe Biden on Wednesday will pitch Congress on $1.8 trillion in new spending and tax credits aimed toward children,…