Nigerian Banks Pay N7.7 Billion As Audit Fees To PwC, KPMG, EY Others In 2021.
Listed commercial banks operating in Nigeria paid an aggregate of N7.72 billion to auditing firms in 2021, which is 25.1%…
Day: June 9, 2022
Asia Stocks Advance As Investors Weigh Impact of Hawkish Central Banks
Asia’s stocks rose on Wednesday, encouraged by a rally on Wall Street. But worries kept gains in check that aggressive…
Naira Falls To N420/$1 At I&E Window Despite Moderations At Parallel Market- Nigeria.
Tuesday, June 7th,2022: At the Investors and Exporters (I&E) window, naira and the US dollar exchange rate closed at N420.75/$1.…
Russia’s Aeroflot Plans $3 Billion Cash Injection, Said To Eye Big Jet Order.
Under heavy pressure from Western sanctions and airspace bans, Russian state flagship airline Aeroflot (AFLT.MM) plans to raise up to…
The Dollar Jumps To 20-Year High Against The Japanese Yen.
As investors build enormous positions against the Asian currency, the dollar rally has reached a 20-year high versus the yen..…
Oil Prices Advance On Low Oil Inventories Expectation
Oil prices drifted higher on Wednesday, anticipating a report of low U.S. oil stocks. While expectations of solid demand in…
Zara-Owner Inditex’s Quarterly Profit Jumps 80% On Post-COVID Wardrobe Renewal
Fashion giant Zara’s owner, Inditex (ITX.MC), reported on Wednesday that its quarterly profit jumped 80%. on the back of soaring…
Nigeria’s Imports From China Rise By 183.91%, Debts Hit $3.67bn.
Nigeria’s import from China rose by 183.91% from N530.98bn in the first quarter of 2018 to N1.51tn in Q1 2022.…
35% Of Workers Planning To Demand Pay Raise–Survey
35% of workers across the globe are planning to ask their employer for a pay raise. This will be in…
H&M, Lululemon Back $250 Million Fashion Climate Fund To Decarbonise Supply Chain.
Lululemon Athletica Inc (LULU.O) and H&M Group (HMb.ST) are among backers of a $250 million fund. Aiming to speed up…
NNPC To Pay N874bn In June As Subsidy Hits N1.82tn
Operators in the oil and gas sector and stakeholders are uncomfortable with the continued rise in Petrol. The cost of…
Pipelines Unclogged, But Canadian Crude Now Faces U.S. Gulf Coast Glut
Canadian heavy crude is finally trading like a “North American” grade, moving in tandem with U.S. sour crudes sold on…
Investors May Jostle For Nigeria’s Barite Reserves
Barite or Barytes is a naturally occurring mineral made of barium sulphate and the source of the element barium. It…
Tesla Goes Ahead With China Hiring Event After Musk Job Warning.
Tesla was proceeding with an online hiring event in China and added two dozen new job postings for the country.…
MAN Tackles CBN Over N1tn Low-Interest Loan-Nigeria.
Manufacturing companies have said they cannot access loans at the Central Bank of Nigeria’s 5% lending rate under its intervention…
Bank Partners’ Foundation On Female-Owned SMEs
FirstBank has said it is partnering with the ELOY Foundation to launch the ELOY Foundation Business Shower. This supports female…
Export Company Launches N10bn Commercial Paper.
Neveah Limited, exporter of Agro-commodities and solid minerals company. The company announces redemption of its N2.7bn Series 1 Commercial Paper…
Oil Sticks Near Three-Month Highs Despite China Lockdowns.
Oil prices hovered near three-month highs on Thursday after parts of Shanghai imposed new COVID-19 lockdown measures. Brent crude futures…
Metered Customers Rise To 4.7million, Registration Stalls At 10million
Electricity distribution companies’ customer registration exercises have been stagnant at 10 million for the past two years. Further findings also…
Nigeria’s Public Debt Climbs By N2.04tn In Q1 – DMO.
Nigeria’s total public debt stock increased to N41.60tn in the first quarter of 2022 from N39.56tn as of December 2021.…
Customs Deepen Probe On Seized Foreign Rice, Others.
The Federal Operations Unit, Zone A, the Nigeria Customs Service, has arrested 14 suspects. All in connection with seized 9,917…
Ghana’s Inflation Surges To 18-Year Peak, Rises Above 27% In May 2022.
Africa: Ghanaian inflation rate drops for the 3rd month to 10.1%. Ghana’s cedi becomes investors’ best choice ahead Nigeria’s naira.…
Shell Inaugurates Second Phase Of Health Programme In Bayelsa Communities
Shell, the oil and gas firm, inaugurated the second and final phase of its healthcare projects. Launching in Oloibiri and…