FG to spend $7.2bn on two deep seaport projects
The Federal Government is planning to spend $7.2 billion to complete two deep seaports in Ibom and Badagry. The first…
Day: August 1, 2024
Flour Mills declares N763bn revenue
Flour Mills of Nigeria Plc reported a 67% increase in revenue, reaching N763.2bn for the first quarter ending June 30,…
Cornerstone Insurance upbeat on recapitalisation
Cornerstone Insurance Plc is ready for any recapitalisation measures from the National Insurance Commission. This was stated by the Managing…
Monthly power subsidy soars by 151% to N211bn
The Federal Government’s electricity subsidy rose from N252.76bn to N633.30bn in the first quarter of 2024, according to the Nigerian…
Banks, others shut as hunger protest holds
Banks and financial institutions in Nigeria will be closed on Thursday, August 1, 2024, due to a planned hunger strike…
Controversy Surrounds Omolola Oloworaran’s Appointment as Acting PenCom DG
The National Pension Commission (PenCom) has announced Omolola Oloworaran as the new Acting Director-General, pending Senate confirmation. Her appointment aligns…
Minister orders probe into $300 passport fee allegations at Nigerian Embassy in London
Minister of Interior, Olubunmi Tunji-Ojo, announced an investigation into complaints from Nigerians in London about an additional $300 fee for…
Banks’ Recapitalisation: Foreign investors moving in — Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced an increase in foreign investment into Nigerian…
Stock investors lose N32bn amid selloffs
The Nigerian stock market saw another decline on Wednesday, with investors losing N32 billion. The market value fell to N55.513…
African Central Bank Governors to Meet in Abuja, to Discuss Trade and Financial Reform
African Central Bank Governors are gathering in Abuja from August 1-3 to focus on increasing intra-African trade and addressing global…
Naira Depreciates Further, Exceeds N1,600 to a Dollar
The naira has fallen to over N1,600 per US dollar at the official rate, with the dollar closing at N1,608.73…
Fitch revises Benue outlooks to positive
Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) outlook from Stable to Positive, while affirming the IDR…
Aminu Umar appointed 1st African director on the board of International Chamber of Shipping
Aminu Umar, President of the Nigerian Chamber of Shipping, has been appointed as the first African director on the board…
Otedola announces support for windfall tax, urges banks to curb private jet expenses
Femi Otedola, Chairman of FBN Holdings, has announced his support for the windfall tax. He highlighted its role in ensuring…