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…
Month: March 2023
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…
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…
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…
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…
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,…
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…
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…
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…
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…