Uncertain Future for Union Bank and Titan Trust Bank Amid Controversy and Merger Plans
Union Bank of Nigeria Plc and Titan Trust Bank (TTB) face uncertainty following a leaked ‘CBN Special Investigation Report’ on…
Month: December 2023
Emefiele Dismisses Allegations, Calls them False and Misleading
Former governor of the Central Bank of Nigeria, Godwin Emefiele, has dismissed allegations made against him by the special investigator…
Nigeria Faces Worsening Power Outages During Festive Season, Affecting Christmas Celebrations
The ongoing power crisis in Nigeria has intensified during the festive season, adversely affecting Christmas celebrations for households across the…
Decline in Dollar Value of Nigeria’s 2024 Budget Limits Economic Stimulus, Says Bismarck Rewane
Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, has highlighted that the decline in the dollar value of Nigeria’s…
Uganda Grants Two-Year Extension to Oranto Petroleum’s Oil Exploration License
Uganda has extended the oil exploration license of Nigeria’s Oranto Petroleum Ltd. by two years after the company requested compensation…
British International Investment Commits $15 Million to NMB Bank’s Inaugural Sustainability Bond in Tanzania
British International Investment (BII), the UK’s development finance institution and impact investor, has committed $15 million equivalent in Tanzanian Shilling…
Government Bolsters Aviation Sector with Key Appointments
In a strategic move aimed at propelling the aviation sector forward, the Nigerian Federal Government has announced the appointment of…
Navigating Economic Challenges: Nigerians Grapple with Soaring Prices
The recent surge in prices of goods and services, triggered by the abrupt removal of fuel subsidy, escalating inflation, and…
The Crucial Role of Stockbrokers in Bank Recapitalisation
In a recent statement, Oluwole Adeosun, the President of the Chartered Institute of Stockbrokers, emphasized the pivotal role stockbrokers play…
Self-employed Nigerians Increases to 88 percent- NBS
The National Beureu of Statiatics revealed in a document titled “Nigerian Lqbour Force Statistics Reports Q2 2023” that 88 percent…
Banks, Pos Operators Responsible for Naira scarcity
The Acting Director of Communications and Public Relations, Sidi Ali revealed through a statement made on Thursday that the Central…
Illegal refineries undercovered by Nigeria’s military
636 refineries were intercepted from further operations by the Nigerian military and 21m litres of crude oil has been saved.…
Nigeria’s Unemployment Rate Rises to 4.2% in 2023
Nigeria’s unemployment rate has experienced a slight increase, rising to 4.2% in the second quarter of 2023 from 4.1% in…
Naira Falls at Official Market Despite Increased Dollar Supply
Despite a surge in dollar supply, the official foreign exchange market witnessed a depreciation of the Nigerian naira against the…
Port Harcourt Refinery Set to Commence Operations
The Port Harcourt Refinery, with a combined capacity of 210,000 barrels per day, is poised to begin operations today. The…
Flared Gas Worth N696 Billion Can Power Millions of Households
BusinessDay’s investigation reveals that Nigeria flared natural gas estimated at N696 billion within the first 11 months of this year.…
Nigeria’s Total Debt Rises Slightly, Reaches N88 Trillion
The Debt Management Office (DMO) report reveals a slight increase in Nigeria’s total public debt, reaching N87.91 trillion at the…
Maka Secures $2.65M Seed Funding to Drive Fashion and Beauty E-commerce Expansion in Africa
African fashion and beauty e-commerce platform, Maka, has successfully raised $2.65 million in seed funding led by Pan-African venture capital…
TotalEnergies Commits $6 Billion Investment in Nigeria for Offshore Oil and Gas Projects
TotalEnergies, the French multinational integrated energy and petroleum company, has pledged a significant investment of $6 billion in Nigeria to…
Angola Announces Exit from OPEC Amid Quota Dispute
Angola, the second-largest crude producer in Africa, has officially declared its departure from the Organization of the Petroleum Exporting Countries…
NAFDAC Director-General Highlights Challenges in the Fight Against Fake Products
Moji Adeyeye, the Director-General of the National Agency for Food and Drug Administration and Control (NAFDAC), has revealed that inadequate…
Kenyan Unit Trusts Increase Annual Returns to Attract Investments Amid Elevated Rates
Kenyan unit trusts are boosting their annual returns to remain competitive with the heightened rates offered on government treasuries and…
Kenyan Regulator Fines Carrefour Franchise $7.2 Million for Market Power Abuse
The Competition Authority of Kenya (CAK) has imposed a record $7.2 million fine on a Carrefour franchise in Kenya for…
Central Bank of Kenya Faces Challenge as it Seeks to Control Government Borrowing Costs
The Central Bank of Kenya (CBK) is encountering a significant test in its efforts to manage the cost of government…
Delta State Government, NNPC, and UTM Offshore Sign Historic Agreement for Nigeria’s First Floating LNG Project
Delta State Government, Nigerian National Petroleum Company Limited (NNPC), and UTM Offshore Ltd have officially signed a Shareholders Agreement for…
Bismarck Rewane Forecasts 3.3% Economic Growth for Nigeria in 2024
Bismarck Rewane, the Chief Executive Officer at Financial Derivatives Company, has made a projection that Nigeria’s economy is set to…
Tony Elumelu-Backed Firms Lead in Stock Returns on NGX in 2023
Among the 30 most capitalized companies on the Nigerian Exchange Limited (NGX), entities associated with billionaire businessman Tony Elumelu have…
Presidential Initiative: N75 Billion MSME Loans Disbursement Set to Begin in January 2024
In a strategic collaboration between the Presidency and the Bank of Industry (BOI), a groundbreaking initiative is set to unfold…
Naira Resilience and Stock Market Surge: Exploring Factors Amidst Federal Government’s Digital FX Plans
Amidst the Federal Government’s plans to digitize foreign exchange (FX) transactions, the Nigerian Naira has exhibited resilience at the parallel…
NCC Mandates Full SIM Blockage: Nigeria’s Telecom Operators Set to Enforce NIN Compliance
The Nigerian Communications Commission (NCC) has issued a directive to telecommunications operators, including MTN, Airtel, Glo, and 9mobile, to implement…