In One Week, Investors Lost N304 billion.
The market capitalization lost N304 billion to end the week at N27.963 trillion, and the All-Share Index decreased by 1.08…
Category: Local
USA Donates $5.7 million to Aid Nigeria.
Nigeria will receive $5.7 million in assistance from the United States of America to oversee elections. This was stated in…
Nigeria Currently Owes the World Bank 6 trillion.
Nigeria moved up the list of the top 10 International Development Association borrowers due to increasing debt. Except for Nigeria,…
FG: IOCs Moved $21bn Investments to Other Countries.
According to the Federal Government, between 2014 and 2022, the majority of foreign oil corporations that work in Nigeria’s upstream…
NBS Set to Release Unemployment Rate in May.
By May 2023, the National Bureau of Statistics will present updated employment and unemployment rates for the nation. In a…
Lagos Paid retirees N50billion in Four Years.
According to Mrs. Ajibola Ponnle, Commissioner for Establishments, Training, and Pensions, Lagos paid its retirees N50bn during a four-year period.…
FG Gives the NSITF Infrastructure Upgrade Concession a N15 billion Approval.
The second phase of the computerized Nigeria Social Insurance Trust Fund, which will allow concessionaires to enhance the infrastructure for…
Insecurity: Local Rice Price Increased by 200%
The price of one kilogram of local rice has increased by 211.52% in seven years as a result of rising…
FEC Approves N142bn e-Customs Project.
Notwithstanding rumors of an existing court injunction prohibiting it from moving forward with the project, the Federal Government in Abuja…
Union Bank’s Earnings Increase by 19%.
According to Union Bank of Nigeria Plc, its total earnings increased by 19% to N208. 2 billion in the 2022…
FAAC: Allocation Decreases as FG, States, and LGs Split N715 billion.
According to the Federal Account Allocation Committee, in March 2023, N714.63 billion was distributed across the three levels of government.…
Leadway Assurance: Implements Security Measures Against Hackers.
According to Leadway Assurance Company Ltd, it has taken “mitigation steps” after discovering a hacker intrusion in its system that…
What to Expect As CBN Moves To Gather Dormant, Unclaimed Funds.
The exposure draft of rules on the administration of dormant accounts, unclaimed balances, and other financial assets in banks and…
Ex-JAMB Registrar, Ojerinde’s Trial Starts Today for a $6 billion Fraud
Professor Dibu Ojerinde, a former Registrar of the Joint Admission and Matriculation Board, and his four children are on trial…
EPayments Reach N49.4 Trillion, With 40% of Failed Transactions Unresolved
According to CIO, we have handled more than 60% of ePayment issues. Although banks owe telcos over N100 billion in…
The Nigerian Exchange Limited Recorded N2bn Gain for Investors.
The Nigerian Exchange Limited rebounded on Tuesday, recording N2bn gain for investors. The All-Share Index also appreciated by 11.54 base…
Nigeria Fails to Settle its Debt to China.
Nigeria’s debt to China, which has risen to N110.31 billion over the past two years, has not been paid off.…
NRC Generates N12 billion, Spends N111 billion to Service Debt.
The Federal Government has spent $247.98m (or N111.23bn at the Central Bank of Nigeria’s official currency rate of N448.55 as…
According to Buhari, Marginal Oilfield Sales Brought in N203 billion.
The sale of petroleum prospecting licenses to 161 companies in its most recent marginal fields bid round brought in over…
FG: 40% Salary Increase for Workers in April.
By the end of this month (April), the Federal Government will start paying the anticipated wage raise for government personnel.…
States with the Highest Inflation Rates are Lagos, Ondo, and Bayelsa.
The three states of Ondo, Bayelsa, and Lagos had the highest rates of inflation in March 2023. NBS reports that…
NECA Rejects Tax Increases and Cautions the FG Against IMF Demands.
The International Monetary Fund’s recommendation that the Federal Government raise taxes in order to reduce borrowing will have an adverse…
Employees Moved N663 billion to Other PFAs – PenCom
Since the National Pension Commission opened the transfer window, 168,768 employees have switched Pension Fund Administrators and shifted N663.761bn in…
Dangote Sugar Pays a Dividend of N18 billion.
Despite the economic difficulties that characterized the 2022 financial quarter, Dangote Sugar Refinery Plc said it will pay N18.22bn in…
World Bank: 96% of Nigeria’s Revenue Utilized to Repay Debt in 2022.
Nigeria is in a more precarious position now than it was before the late 2021 global oil price boom. In…
Aviation Workers Plan Strike Over Minimum Wage.
Due to the Federal Government’s unwillingness to release the reviewed condition of service that was negotiated more than seven years…
World Bank: Africans in diaspora remitted $95.6bn in 2021.
The managing director of Shelter Afrique, Mr. Thierno-Habib Hann, stated at the 25th Annual Harvard Africa Business Conference 2023 –…
FG: Fuel Subsidies and Oil Theft Consumed N29tn.
According to the Federal Government, N13 trillion was spent between 2005 and 2021 subsidizing Premium Motor Spirit, or gasoline, while…
CBN Moves to Invest Unclaimed Funds in Dormant Accounts in T-bills.
According to a proposal made by the Central Bank of Nigeria, banks should move money from accounts that have been…
Naira Appreciates to N737/$ at Parallel Market as Dollar Demand Slows.
On Wednesday, the parallel foreign exchange (FX) market, also known as the black market, saw naira rise to N737 per…