Bauchi Uncovers 6,418 Ghost Workers, Saves N1bn Monthly- Nigeria.
Bauchi State government says that it has removed no fewer than 6,418 ghost workers from its payroll. Since the inception…
Category: Local
Debt Servicing Doubles, Hits N896bn In Three Months– Report
Nigeria’s debt servicing bill has increased by 109% to N896.56bn, findings. As a result, the country has also spent N3.83tn…
MarketAxess, Tradeweb And Bloomberg Plan Joint EU Bond Price Feed.
MarketAxess, Tradeweb and Bloomberg said o they were exploring a single price feed for corporate and government bond. The EU…
Nigerian Airlines, Others To Lose $700m In 2022 – IATA
The International Air Transport Association (IATA) has said that Nigerian airlines and others across Africa will lose $700 million. This…
Prestige Assurance Sees N10.5bn Gross Premium In Q3’22- Nigeria.
Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022. The…
Cost Of 12.5kg Cooking Gas Hits N9,400 In May 2022, Highest In 3 Years
The cost of purchasing a 12.5kg cylinder of household cooking gas in Nigeria has increased from N7,000 in September 2021…
AIICO Insurance Declares Dividend Of 2 Kobo Per Share For Year Ended December 2021
AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and…
Wema Bank Assures Customers Of Data Confidentiality- Nigeria.
Wema Bank has said that it will ensure data confidentiality of its customers. The bank said, “We implore members of…
Rising Inflation, Others Threaten Buhari’s Poverty Reduction Scheme –World Bank economists
World Bank economists, Jonathan Lain and Jakob Engel, have said that rising inflation, persistent population growth, the COVID-19 pandemic, and…
CBN Raises Online Transfer Limit To N25 Million And N250million For Individuals And Companies Respectively.
The Central Bank of Nigeria (CBN) has raised the limit for ‘Highly Secured Online Funds Transfer’. This begins from N100…
Nigeria’s Foreign Trade Rises To N13 Trillion In Q1 2022
Nigeria’s foreign trade rose to N13 trillion in the Q1 of 2022, increasing by 11.1% from N11.7 trillion recorded in…
Despite Negative Yield, Investors Oversubscribe CBN’s June 2022 T-Bills By 527%
Nigeria’s high inflation rate has permitted a negative yield in the fixed income market. A whopping 527% oversubscribed the Central…
FG, NEXIM Sign $40m Women In Oil Sector Fund
The Federal Government and the Nigerian Export-Import Bank have signed a $40m intervention fund for women in the oil and…
Top Three Aussie Miners To Shed $11Bn In Market Value As Commodity Rout Accelerates
Australia’s big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value. As…
China’s Oil Imports In May From Russia Soar To A Record, Surpassing Top Supplier Saudi
China’s crude oil imports from Russia soared 55% from a year earlier to a record level in May, displacing Saudi…
Indian Shares Flat As Metals Counter Gains In Consumer Stocks
Indian shares were little changed on Monday, with gains in consumer stocks offset by losses in metals, while global prices…
Danone Trims Product Range As Shoppers Balk At High Prices
French food giant Danone (DANO.PA) is cutting the variety of products it sells to retailers to reduce costs. However,This means…
Babel Finance Suspends Withdrawals As Crypto Markets Slump
Hong Kong-based Babel Finance temporarily suspended the withdrawals and redemptions of crypto assets on Friday. As the crypto lender scrambles…
Lagos Businesses Spend N5.3Trillion On Fossil Fuel Annually
Lagos State residents and businesses operating in the state spend about N5.3 trillion annually on fossil fuel because of the…
Inflation Will Push 15 million Nigerians Into Poverty In Two Years.
The World Bank projects an inflation shock to push about 15 million more Nigerians into poverty between 2020 and 2022.The…
Nigerian Export Promotion Council (NEPC) Eyes 40% Increase In Exports Through Trade Houses
With the launch of trade houses in Egypt and Togo, NEPC, is targeting a 40% increase in the country’s exports.…
Central Bank Of Nigeria’s Intervention Funds Fuelling Inflation, World Bank Warns Nigeria
The World Bank says the Central Bank of Nigeria’s development finance intervention is fuelling inflation in the short term. Which…
Federal Government Of Nigeria’s Spending On Pension, Gratuity Falls To N356bn
The Federal Government’s expenditure on pensions and gratuity fell slightly by N3.48bn in 2021. This is according to figures obtained…
Credit Suisse Rejects $515 Million Claim Linked To Fraudulent Adviser
Credit Suisse (CSGN.S) on Sunday rejected a claim by Russian businessman Vitaly Malkin for 500 million francs ($515.62 million). Which…
Nigerian Banks Maintained Stability Despite COVID-19 Challenges–NDIC
At the 2022 stakeholders’ retreat of the Senate Committee on Banking, Insurance, and Other Financial Institutions with the Nigeria Deposit…
Nigeria’s Economy Gaining Strength… But Inflation Will Remain High – IMF
Despite Nigeria’s steady economic recovery, inflation, according to the International Monetary Fund (IMF), would stay high. The Washington-based institution said…
Elon Musk Sued For $258bn Over Dogecoin Support
An investor in dogecoin, a cryptocurrency that began as a joke but grew in value championed by Elon Musk, filed…
Fuel Queues Return To Abuja, Motorists Flay NNPC, FG
Fuel queues returned to Abuja as motorists spent hours at filling stations waiting to buy the Premium Motor Spirit. This…
Stocks Rise As Investors Await U.S. Jobs Data For Fed Cues
Asian shares were mostly higher on Friday as investors hoped U.S. jobs data due later might sway the Federal Reserve.…
EXCLUSIVE China Firms In Advanced Talks With Qatar For Gas Field Stakes, LNG Offtake.
China’s national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the…