Increased Tuition Costs At Aviation Colleges
The Nigerian College of Aviation Technology, Zaria has announced an increased revision of the normal pilot course price from N7m to N13m owing to inflationary trends and currency rate volatility.…
Centum Uses Cash Flow To Pay Down Sh2.3bn Debt.
Centum Investments Company Plc used internally produced cash to pay off Sh2.3 billion in debt after efforts to collect money through the sale of its interest in Sidian Bank to…
Firm Denied From GDC Funds For Debt Of $2 billion
The Menengai Geothermal Project maintenance services provided by an ICT business resulted in a Sh2 billion debt that the High Court has barred the ICT company from using cash stored…
As LGs Split N2tn, Lagos And Kano Receive The Lion’s Share.
Nigeria’s local governments received N2.02 trillion from the federal budget that was distributed in 2022. This occurred as the greatest allocations for the year were received by LGAs in the…
Fuel Shortage Will Continue Till After The Elections – Marketers.
Petrol shortage grew acute in Abuja, Nasarawa, Niger and other states in the North, as hordes of vehicles crowded the few filling stations that dispensed the commodity in these locations.…
OPEC Quota: NUPRC Seeks 400,000 mb/d More From Large-Scale Projects
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) anticipates an additional 400,000 barrels per day (b/d) from certain big projects in its effort to increase national crude oil output in order…
In An Effort To Increase Nigeria’s Non-oil Exports, NEXIM Meets With Saudi Eximbank And IsDB.
A powerful delegation from the Nigerian Export-Import Bank (NEXIM), led by the Managing Director/Chief Executive, Mr. Abba Bello, Executive Director Corporate Services, Bala Bello, and other senior staff members, recently…
The Deputy Managing Director Of Zenith Bank Resigns.
Adaora Umeoji, the Deputy Chief Executive Officer at Zenith Bank, has left her position after seven years.According to a regulatory document published on the Nigerian Exchange website, which officially retired…
Glo Introduces A Financing Program For Samsung Series
A device financing option for the Samsung Galaxy S23 series has been made public by Globacom. This was made public by the company on Tuesday in Lagos, where the phone…
MTN Nigeria Raises N125bn Through Commercial Papers.
To increase its short-term operating capital and finance requirements, MTN Nigeria obtained N125 billion through the issue of commercial papers. In a notification to the Nigerian Exchange Limited on Monday,…
Banks Ration Cash As Gas Stations And Others Refuse Old Naira.
The latest initiative by several Deposit Money Banks to re-circulate old N500 and N1,000 notes suffered a setback when motorists, petrol stations, shopkeepers, dealers, and other types of bank clients…
Diageo Succeeds In Increasing Its Ownership Of EABL To 65 Percent.
The first round of British multinational Diageo’s offer to purchase an additional 14.97 percent ownership in East African Breweries Plc (EABL) was oversubscribed, indicating strong investor interest in the premium…
Supreme Court Order On Old Notes: Banks In Partial Compliance.
Deposit cash The Supreme Court’s ruling authorizing the use of old N1,000, N500, and N200 notes as legal money for 10 months has been partially complied with by banks around…
AfricInvest buys stake in Justrite
AfricInvest Fund IV has acquired a small interest in the Nigerian retailer Justrite Superstore, this action would enable Justrite to contribute to the development of reasonably priced grocery stores that…
FG Asks N327bn From Donors For The Census
The Federal Government intends to set up a basket fund to gather donations for the 2023 population and housing census, according to Clem Agba, Minister of State for Budget and…
Anchor Debtors: CBN Criticizes IMF’s Low Rating
According to information provided by the Central Bank of Nigeria, farmers have paid back N503 billion, or 52.39 percent, of the total amount borrowed under the Anchor Borrowers Program. In…
Local Investors Dominate International Competitors As Transactions Totaled N170bn.
Domestic investors outperformed their international counterparts on the Nigerian Exchange Limited, with a total value of transactions of N170.20 billion vs N24.90 billion for foreign transactions. From N140.70 billion (about…
Nigeria’s Flared Gas Slumps By 500m SCF, Still One Of Top 7 Defaulters
Operators in the Nigerian oil and gas industry only marginally decreased the amount of gas that was flared, from 10 billion Standard Cubit Feet (SCF) in December to 9.5 billion…
OML 18: NNPCL And Its JV Partner Fire Operator Eroton
Oil Mining Lease 18 now has NNPC Eighteen Operating Limited as its operator in place of Eroton Exploration and Production Limited, which was previously chosen by the non-operating joint venture…
UK Mining Company Engages PwC For Entrance Strategy In East Africa
London-listed PwC Limited Kenya has been appointed by Marula Mining to offer a variety of consulting services, including acquisitions in the local market. The Blesberg Lithium and Tantalum Mine in…
Stock Experts Believe That Central Banks Should Be Replaced.
Investors in the stock market are abandoning the notion that the Federal Reserve and other significant central banks have their backs. Given the strong statistics and persistent inflation, hopes for…
Naira Shortage Lowering Living Standards For Rural Residents.
According to AGUSTO & Co, the cash shortage brought on by the Central Bank of Nigeria’s currency redesign program would lower rural residents’ standard of living. “Worse still, living conditions…
According To PenCom, N24bn Was Recouped From Defaulting Employers.
The Nigerian Pension Commission claims that it has recouped N24.15 billion in employee pension deposits that were not submitted by uncooperative businesses.” After the failure of all administrative attempts to…
Oil Output Might Decrease Due To Pipeline Bursts
At Rumuekpe, a village in the Emuoha Local Government Area of Rivers State, a new explosion was believed to have shaken a significant export pipeline in the Niger Delta, with…
Banks’ NPL Sustains Decrease at 4.2%, Assets Up 24.24% To N73.59trn
The non-performing loans (NPLs) in the country’s banking industry have reportedly declined further below the regulatory threshold of 5% to 4.25%, according to the Central Bank of Nigeria (CBN). Also,…
FG Distributes N30bn In Grants To Export Businesses.
The Federal Government has given the go-ahead for 199 exporting enterprises to get promissory notes totalling N308, 458, 160, 546.41. The payout falls under the Export Expansion Grant program, according…
Operators Predict An Increase In The Housing Shortfall Of Approximately 60%.
The housing shortage in Nigeria is expected to increase by over 60% by 2050 as a result of urbanization and population growth that are exacerbated by the country’s economic situation.…
CBN Disburses N114bn Under 100-for-100 Policy
From the start of the intervention, the Central Bank of Nigeria has given beneficiaries under its 100-for-100 Policy on Production and Productivity a total of N114.17 billion. The CBN programme…
Flutterwave Denies Losing N2.9 Billion To Hackers
Flutterwave, a unicorn in the African financial industry, has denied losing $2,949,557,867 to hackers. it was previously revealed that hackers had stolen $2,949,557,867 from the company’s accounts, with over 300…
Truck Driver Attributes A 65% Decrease In Haulage To Hoodlums.
According to Mr. Collins Dike, a trucker, 65% of the county’s maritime sector’s trucks were idle because of extortion demands made by hooligans, also known as area boys. During an…