World Bank Announces Ajay Banga As Sole President-Nominee
The Board of Executive Directors of the World Bank Group confirmed that US citizen Ajay Banga was the only candidate for the job of the bank’s next President. In February,…
Insurance Industry Growth Policies are Sought by Loss Adjusters.
In order to fully utilize the potential of the insurance sector, the Institute of Loss Adjusters of Nigeria has stated that it is crucial to promote industry growth through supportive…
NITDA Advises SMEs to Use Digital Technologies.
According to the National Information Technology Development Agency, if entrepreneurs running Micro, Small, and Medium-Sized Businesses want to thrive in the twenty-first century, they must adopt and adapt to digital…
A Firm Promotes Sustainable packaging
Tetra Pak, a provider of food processing and packaging solutions, has launched its “better with carton” campaign to advocate for beverage packaging that is environmentally friendly. The corporation disclosed the…
UBA Increases Profit by 31% to N201 billion.
United Bank for Africa said that its 2022 financial period saw a N201 billion profit before taxes. This information was provided by the bank in a statement titled “Full year…
FirstBank Renamed its Subsidiaries in the UK and Africa.
The United Kingdom and Sub-Saharan Africa subsidiaries of First Bank of Nigeria Limited have received notice of a phased corporate name change. In a statement released under the heading “FirstBank…
According to the UN, 64.3 million Nigerians Lack Access to Sufficient Food.
According to the World Food Programme, a part of the United Nations, 32% (64.3 million) of Nigerians do not have access to enough food to eat. In 19 different countries,…
NICA Establishes Governance Committees
The National Institute of Credit Administration’s governing council has established committees, which were inaugurated by the institute’s president, Mr. Andy Ojei. According to a release, the president commended the organization’s…
Seafarers Claim that 4,000 Ships Berth in Lagos Ports Each Year.
The Mission to Seafarers, Lagos, a maritime organization, has revealed that 4,000 ships call at Lagos ports each year. According to Ilori, Nigeria deserves to have a significant voice in…
Lagos and Fintech Sign an Agreement to Increase IGR
A Memorandum of Understanding between the Lagos State Government and eTransact has been struck in order to control uncontrolled development, manage setbacks and open areas, and enhance the state’s environmental…
Oando Earns a Profit of N34.7 billion.
Oando Plc, an energy firm, reported that its earnings after tax increased to N34.7 billion in the fiscal year 2021. This was from a loss after tax of N140.7 billion…
Alison-Madueke, Aluko, and Omokore’s Fraud Proceeds were Recovered by the US for Nearly $53 million.
The U.S. Department of Justice said that two civil actions seeking the forfeiture of different opulent assets that were the proceeds of international corruption offenses and were laundered in and…
Moribund Mills: Swallow N1.63 trillion in Paper Imports in Five Years
Nigeria spent N1.63 trillion on the importation of paper and related products in the last five years despite having an abundance of domestic raw materials. According to data from the…
US Increases Non-immigrant Visa Application Fees
A rise in some non-immigrant visa application (NIV) processing fees has been announced by the US.The increases took effect on May 30, 2023, and were announced in the Federal Register…
FEC Approves N24.2 Billion For Free WiFi At Markets And Airports.
The Nigerian cabinet has approved N24.2 billion for the installation of Internet access at 20 airports, several educational institutions, and markets nationwide. He claims that the Nigerian Communications Commission (NCC)…
Government and Investors to Install 1,000 Mini-Grids Nationwide
The deployment of 1,000 mini-grids to electrify rural towns around the nation was started by the federal government in collaboration with investors from the private sector. Federal Government’s Rural Electrification…
NDDC Adopts a New Youth Development Program.
According to the Niger Delta Development Commission, a novel idea for collaborating with the Niger Delta Chamber of Commerce in the region’s training of young people and aspiring businesspeople has…
Russia-Ukraine Conflict Could Spur Food Production in Africa – Osinbajo
Vice President Yemi Osinbajo said the ongoing situation between Russia and Ukraine should serve as a wake-up call for African governments to prioritize food self-sufficiency. He added that digitization continues…
Under Non-disclosure Agreements, Ghana’s Bondholders’ Counsel Begin Debt Negotiations.
A group of foreign private lenders are represented by Rothschild & Co., while the government, which froze payments on the majority of its external debt last year, has chosen Lazard…
Equity and KCB Put Pressure on Safaricom.
Equity Group is now spearheading a banking industry assault for the title of East Africa’s most profitable corporation after reducing the earnings gap with Safaricom to its narrowest level in…
Insurance GPI Increases by 36.3% to N726.2 billion, While Claims Payments Increase by 31.2%.
The industry has seen a 36.3 percent increase in Gross Premium Income (GPI) quarter over quarter and a 17.8% year over year increase in the fourth quarter of the same…
Paystack CEO Purchases a 55% Share in a Danish Soccer Team.
Shola Akinlade, co-founder and CEO of Paystack, has acquired a 55% ownership position in Danish second-division team Aarhus Fremad. Aarhus Fremad will join the Nigeria National League’s Sporting Lagos FC,…
$1.9bn Loss: Oil Theft Panel Charges Operators and Regulators.
Operators and regulators in Nigeria’s oil sector have been charged with extensive acts of sabotage in the industry, according to a report by the Special Investigation Panel on Oil Theft…
NNPCL to Increase Oil Reserves to 50 billion Barrels.
The Nigerian National Petroleum Corporation Limited declared on Tuesday that continued oil exploration in the country’s border basins will increase crude oil reserves from 37 billion barrels to 50 billion…
Federal Government $22bn Loan Request Rejected by Chinese Bank.
On Tuesday, the House of Representatives accepted the federal government’s proposal to borrow $973,474,971.38 from the China Development Bank. This came after the China-Exim Bank decided to deny Nigeria’s request…
CBN bars banks seeking upgrade from expansion
The Central Bank of Nigeria’s new draft rules prohibit banks and other financial organizations applying for conversion licenses from increasing or decreasing their present banking network. This information is provided…
Tullow to Default on $2.5bn Debt Repayment
The Tullow Group has indicated that it may not be able to fully repay its US$2.5 billion notes outstanding which will mature in 2025 and 2026. This is because the…
Mail Services Firm Raises Charges 33pc
In response to high operating costs, MPost, a service that converts mobile phones into official postal addresses, has increased annual subscription fees by 33 percent with immediate effect. With immediate…
Equity net profit up 15% to record Sh46 billion.
As the most profitable lender in the area, Equity Group’s net profit for the year ended December 2022 increased by 15%, from Sh40.07 billion to Sh46.1 billion. A dividend of…
NIMC Requests a Revision of the Procurement Act.
Hadiza Dagabana, the National Identity Management Commission’s director of legal and regulatory affairs, has demanded that the Public Procurement Act be changed. She stated: “In 2007, the Public Procurement Act…