FCMB Group Issues N20.68bn Bond
In accordance with its N300 billion debt issue plan, FCMB Group Plc has announced the issuance of a N20.68 billion permanent 16 percent fixed rate resettable NC5.25 extra tier 1…
NIBSS Reports a 44% Decrease in E-bill Payments Due to a Cash Shortage.
Despite the Central Bank of Nigeria’s naira redesign strategy, which aims to increase cashless transactions, the value of electronic utility payments decreased by 44.86 percent. This represented an e-bill payment…
International Breweries Supports Climate Action with Gas-Powered Trucks
International Breweries Plc has started using gas-powered vehicles to transport its products around the nation as part of its ongoing commitment to sustainability. This comes after the business on Tuesday…
N1trn Debt Payment, Gas Supply, Others Top Gencos’ Agenda for Incoming Govt
The next president should give special attention to a number of challenges that Power Generating Companies (Gencos) have outlined that impact operators and investors in the Nigerian Electricity Supply Industry…
Despite a Rise in February’s Crude Production, Nigeria’s Oil Rig Count Stagnates.
Nigeria’s oil rig count remained constant at 13 during the month of February despite an increase of around 48,000 barrels per day, According to study of the most recent information…
Despite Europe’s Need for Spot Supply, Nigeria’s LNG Production Remains Weak
According to a Natural Gas Intelligence (NGI) report, the six-train Nigeria LNG (NLNG) facility on Bonny Island has been producing significantly below capacity since last year due to severe flooding,…
Due to Shaky Investor Sentiment, the Stock Market fell by N16 bn.
The Nigerian Exchange Limited (NGX) stock market began the new trading week yesterday by extending its losing streak for the seventh session in a row as investors’ gloomy attitude drove…
Shell Claims Significant Decline in Nigerian Oil Spills After Shutdown.
In Nigeria’s oil-rich Delta, Shell reported a substantial decrease in oil spills in 2022 due to sabotage, which was caused by the stoppage of operations for six months following assaults.…
In Nigeria, 75% of the Power is Produced by Generators.
According to the most recent assessments from the Society for Planet and Prosperity, GCA Capital Partners, and Climate Advisers Network, which were issued almost 75% of the electricity used in…
Anger as NNPCL Hiring an Expatriate to Lead a Subsidiary
The nomination of Jean-Marc Cordier as the head of the Nigerian National Petroleum Corporation Limited’s oil trading division has sparked a variety of worries among operators and professionals in the…
Interswitch CEO Wins Entrepreneur Award
Mr. Mitchell Elegbe, the Chief Executive Officer and Founder of Interswitch Ltd, was recognized on Friday as the overall winner in the West African region of the 2023 Ernst &Young…
Jumia Laid Off 20% of Staff in Q4 2022 Amid Work to Reduce Losses by Half this Year
Jumia’s streamlining initiatives resulted in a 60% drop in management personnel in Dubai and overall headcount reductions that led to the loss of more than 900 positions throughout its 11…
Nigerian credit-led Fintech FairMoney Acquires PayForce in Retail-merchant Banking Play
FairMoney, a Nigerian credit-driven digital banking platform, has acquired PayForce, a small business-focused merchant payment service, as it seeks to diversify its offering of financial services to merchants. PayForce is…
Credable, a Digital Banking Infra Startup that wants to Build Unit For Emerging Markets, gets Funding
A $2.5 million seed round has been raised by Credable, a newcomer in this field that offers its clients the technological stack, scoring capabilities, and banking partners. Rapyd, and Treasury…
BlackRock Eyes Deal to Buy Into Biggest Africa Wind Power Farm in Kenya
Northern Kenya’s Lake Turkana Wind Power is home to Africa’s largest wind farm, and a public-private partnership supported by BlackRock Alternatives intends to purchase a 31.25% interest in it. The…
Airtel Launches First eSIM Card Services in Tanzania
The eSIM (embedded SIM), a digital SIM that gives users access to the same functionality as physical SIMs sold in stores, was launched by Airtel Tanzania, making it the first…
Moody’s in Tanzania to Evaluate Credit Worthiness
Tanzania can borrow money from foreign markets at fair rates if the government’s efforts to improve its credit rating are successful. Tanzania’s credit rating will affect the cost of its…
T-bills, Bonds Still Safest to Invest in — Ebo Turkson
According to Assistant Professor of Economics Prof. Festus Ebo Turkson, notwithstanding the government’s incapacity to pay its debts, Treasury securities, which include bills and bonds, remain the safest pair of…
Foreign Investors Dump Over Four billion NSE Shares
In multi-year selloffs, foreign investors have sold nearly four billion Nairobi Stock Exchange (NSE) shares, making the stock market more volatile and driving down prices. Three years in a row…
State Owes ViVo Energy Sh21 Billion Fuel Subsidy
The parent company of the oil marketer flagged the delayed payments after the government’s debt to Vivo Energy Kenya under the fuel stabilisation plan increased five times to Sh21 billion…
SEC Rejects Nigerian Enamelware’s Debt Conversion, Bonus Shares
Nigerian Enamelware Plc’s attempt to convert a significant shareholder’s debt to equity was denied by the Securities and Exchange Commission (SEC), the country’s top capital market regulator. Also, the commission…
NEXIM, Navy, and NIWA Unveil River Navigation Charts, Providing a Boost to the $61.5M Sealink Project
The release of navigational charts for the lower River Niger has boosted the $61.5 million regional Sealink project being promoted by the Nigerian Export-Import (NEXIM) Bank in partnership with the…
MTN To Merge Two Financing Companies.
Momo Payment Service Bank Limited and Yello Digital Financial Services Limited, two finance subsidiaries of telecommunications company MTN Nigeria, have proposed merging. “Momo PSB is the payments unit of MTN…
Currently Circulating Currency now N982bn – CBN
As a result of the Central Bank of Nigeria’s naira redesign strategy, the amount of currency in circulation in the country decreased by 235.03 percent, from N3.29 trillion at the…
Unilever Nigeria to Quit the Skin Care and Home Care Industries.
Unilever Nigeria’s Fast Moving Consumer Goods division has announced that it will leave the skin care and home care industries in order to realign the company for long-term profitability. This…
Inflation Can’t Reduce With High Fuel Price – Abuja chamber
According to the Abuja Chamber of Commerce and Industry, the price of Premium Motor Spirit, more commonly known as gasoline, which is now selling between N400 and N700 a litre…
Manufacturers Seek Access to Loans
The Manufacturers Association of Nigeria, which represents manufacturing CEOs, claims that the difficulty in obtaining loans has stifled the expansion of the nation’s productive sector. They asserted that one of…
NCC, Stakeholders Hold Talks on Data Depletion
The Nigerian Communication Commission announced intentions to implement measures on Thursday in order to prevent data depletion and guarantee that telecom consumers receive value for their money. The commission highlighted…
Manufacturers Claim a 25% Decline in Sales Due to a Cash Shortage.
According to manufacturers, the prolonged shortage of naira notes has caused a 25% decline in sales of manufactured items. The Manufacturers Association of Nigeria’s Director-General, Segun Ajayi-Kadir, revealed this in…
MTN to Merge Two Finance Subsidiaries
Momo Payment Service Bank Limited and Yello Digital Financial Services Limited, two finance subsidiaries of telecommunications company MTN Nigeria, have proposed merging. “Momo PSB is the payments unit of MTN…