Directors Of 10 Banks Pocket N6.96bn Allowance, Compensation
Directors of 10 banks collected N6.96bn sitting allowance and compensation in 2021; according to an analysis of the lenders’ financial…
Category: Local
Nigeria Crude Oil Production Increases To 1.238 Million Barrels Per Day In June
The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production; increased to an average of 1.238 million…
Microfinance Bank Launches Digital Banking Platform.
One of the fastest growing financial institutions in Nigeria , PatrickGold Micro Finance Bank; has launched a digital banking platform,…
Oil Falls Below $100, Nigeria’s Production Hit 1.158mb/d
Brent, the international benchmark for crude; fell below $100 per barrel as the latest figures released by the Organisation of…
Euro At Parity And Talks Of A 100 Bps U.S. Rate Hike
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face…
Court Grants N10 Million Bail To Forex Trader Charged With N20 Million Exchange Fraud.
Justice Oluwatoyin Taiwo of the Ikeja Special Offences Court has granted bail in the sum of N10 million to one…
Building Collapses In Lagos Nigeria.
A building collapsed in the early hours of Wednesday, July 2022 in Onipanu area of Lagos State. The affected building…
Forex Flow To Nigeria Rise By $10.75bn.
Nigeria has recorded $10.75bn foreign exchange inflow in two months, figures obtained from the Central Bank of Nigeria have revealed.…
Danske Cuts Profit Outlook Due To Challenging Financial Market Conditions.
Danske Bank (DANSKE.CO) reduced its full-year net profit outlook, hurt by rapidly rising interest rates and unfavorable financial market conditions.…
Oil Companies Oppose FG- Nigeria.
Oil and gas companies have committed to gas flare reduction in Nigeria. Some of them opposed the enforcement of penalties…
Infrastructure: FG Eyes 70% Capital Stock, $150Bn Annually
The Federal Government is targeting 70 per cent capital stock and $150bn yearly to close Nigeria’s yawning infrastructure gap. But…
Nigerian Banks Loan N3 Trillion To The Private Sector In 6 Months
Banks’ credit to the private sector hit its highest level in May 2022, reaching N38.19 trillion from N35.19 trillion recorded…
Naira Falls At I&E Window Despite Massive Improvement In Dollar Supply
The exchange rate between the naira and the US dollar closed at N428.16/$1: which at the Investors and Exporters (I&E)…
Concerns As 121 Firms Delisted From Nigeria’s Stock Exchange In 20 Years
According to data got from the Exchange; they has delisted 121 quoted companies from the official list of Nigerian Exchange…
FG Approves N22.45bn For Petroleum, Environment Ministries- Nigeria.
The Federal Government, approved of N22.45bn for projects in the Ministries of Petroleum Resources and Environment. The Minister of Environment,…
Senate Vows To Support AMCON’s Debt Recovery Drive
The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani; has reiterated the willingness of the…
Logistics Firm Declares Profit Growth Of 87%
Red Star Express Plc has declared N413.9m as its group profit before tax for the year ended March 31, 2022.…
20 Directors Jostle To Replace Fired AGF
The Federal Government has issued a circular to appoint a new and substantive Accountant-General of the Federation. Emanating from the…
Nigeria’s Central Bank Says Both Merchant And Consumer Can Now Present QR Codes For Payment
The Central Bank of Nigeria has announced a significant adjustment to the Quick Response (QR) Code Framework. Allowing the usage…
Debt, Inflation, Forex killing Economy, LCCI Warns FG- Nigeria.
The Lagos Chamber of Commerce and Industry has warned the Federal Government to find urgent solutions to the issues of…
Fidelity Bank Takes Over Three Discos, FG Intervenes- Nigeria.
The Federal Government announced the takeover of Kano, Benin and Kaduna electricity distribution companies by Fidelity Bank. This was after…
Solid Minerals Imports Rise By 74% In 12 Months
Recently, the value of solid minerals imports rose by 74.39% from N23.56bn in the first quarter of 2021 to N41.09bn…
Oil Prices Bounce Back From Tuesday Tumble As Supply Concerns Return
Oil prices rose as much as nearly 3% before paring some gains as investors piled back into the market after…
Oil Tumbles 9% On Recession Demand Destruction Fears
Oil plummeted about 9% in the biggest daily drop since March on growing fears of a global recession and lockdowns…
Crypto Lender Voyager Files For Bankruptcy.
Voyager Digital (VOYG.TO) has filed for bankruptcy, the crypto lender said in a statement, a week after suspending withdrawals; trading…
NSITF Pays N300m Compensations To Employers, Employees- Nigeria.
According to the Nigeria Social Insurance Trust Fund,N306,554,896 was reimburse out over the previous four months; as claims and compensations…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance; the National Insurance Commission…
FG Reveals Why It Is Pushing For More Public Private Partnerships In Nigeria
The Federal Government has declared that the current financial situation of Nigeria brought about by the global COVID-19 pandemic; and…
Court Restrains Kano Govt From Borrowing N10bn For CCTV Cameras- Nigeria.
A Federal High Court sitting in Kano presided over by Justice Abdullahi Muhammad Liman has restrained Kano State Government; from…
Tinubu To Buy 299.25m Oando Shares, As Exits Trail SEC Out-Of-Court Settlement
Wale Tinubu and Italian investor, Gabriele Volpi have agreed to acquire shares of minority investors. As they demand to exit…