BREAKING: CBN Retains Lending Rate At 11.5%
The Monetary Policy Committee of the Central Bank of Nigeria has left the Monetary Policy Rate unchanged at 11.5 per…
Category: Local
Railway: 24 Firms Jostle For E-Ticketing Contract
No fewer than 24 companies have bidded for the electronic ticketing solutions for the Lagos-Ibadan and the Warri-Itakpe train services. …
ENaira’ll Work With Other Countries’ Digital Currencies – CBN
The Central Bank of Nigeria has said that the implementation of the country’s digital currency will be done in four…
Dismantle Trade Barriers To Grow Africa’s Economy, Dangote Urges Leaders
African leaders have been urged to dismantle trade barriers stifling their individual countries, in a bid to ensure smooth flow…
Capital Inflow Crashes By 80%, Foreign Investors Shun Nigerian Market
Capital inflow to Nigeria has crashed by 80 per cent in two years, the Central Bank of Nigeria reports have…
Naira Loses Steam, Sides To 555/Dollar In Parallel Market
The naira lost steam at the parallel market on Monday, sliding to 555 per dollar. The local currency had crashed…
FMN, Honeywell Flour Mills Merge Under N80billion Shares Transfer Deal
Flour Mills of Nigeria Plc (FMN) and Honeywell Group Limited On Monday announced that they have signed an agreement for…
Illiquidity: BMBs, Merchant Banks Borrow N215.7bn From CBN In One Week
Following scarcity of liquidity in the interbank money market, banks and merchant banks borrowed N215.7billion from Central Bank of Nigeria…
OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
Leadway Pensure’s Shares In First Bank Belong To RSA Holders – PenCom
Funds invested in First Bank Holdings Ltd (FBNH) by Leadway Pensure Ltd belong to retirement savings account (RSA) holders, the…
South African Airways To Resume Lagos Flights December — After 18-Month Suspension
South African Airways (SAA) has announced the resumption of flight operations on its Johannesburg-Lagos route. The airline had suspended commercial…
Naira Falls By 2.8% To N545/$1 At Parallel Market
The naira, on Friday, depreciated against the dollar at the parallel section of the foreign exchange market. Bureaux De Change…
Report: Kano Generated N24bn VAT In Eight Months — More Than All South-East States
The total value-added tax (VAT) generated by the Kano state government in the first eight months of 2021 was higher…
VoxCroft Analytics Raises Series A From Knife Capital
VoxCroft Analytics, an open-source intelligence and risk analytics venture with operations in South Africa and the US, said Thursday it…
UKCI And Norfund Fund JV’s Equity Participation In Wind Farm Portfolio
Cape Town-based investment firm H1 Holdings, which has inked a joint venture with an independent power producer in South Africa,…
Trade Deficit Declined To $340m In July – CBN
Nigeria’s trade deficit declined to $340m in July from $2.4bn in June, figures obtained from the Central Bank of Nigeria…
Analysts See Nigeria’s Inflation Rate Rising In Nov, Dec
Amid the steady decline in headline inflation rates over the past few months, analysts have predicted an uptrend for the…
Drug Dealer Behind Cocaine Hidden In Lagos Airport Toilet Arrested – NDLEA
The National Drug Law Enforcement Agency (NDLEA) says it has arrested a Brazil based drug dealer, Okafor Moses in connection…
Remittances To Nigeria, Others Grow 7.3% To $589b
Remittances to low- and middle-income countries are projected to have grown a strong 7.3 per cent to reach $589 billion…
FG Begins 10,000MT Wheat Cultivation To Cut Imports
The Federal Government has announced the commencement of dry season wheat cultivation to produce 10,000 metric tonnes of the commodity and…
Agric Fund Diversion May Attract Five-Year Jail Term – CBN
The Central Bank of Nigeria has said borrowers who divert the funds provided under the Agricultural Credit Guarantee Scheme may…
Net Forex Inflow Rose To $2.77bn July, Says CBN
The net foreign exchange inflow into the Nigerian economy rose slightly to $2.77bn in July from $2.27bn in June, the…
Firm Launches Global Lottery Game In Nigeria
MegaMillions Naija has launched a global jackpot lottery in Nigeria to drive access to lottery games that will give the…
CBN Orders Farmers To Insure ACGSF Loans
The Central Bank of Nigeria has said farmers must have an insurance cover for loans to be disbursed to them…
Investors Lose N18bn As 49 Stocks Drag Market Lower
Investors in the equities market of the Nigerian Exchange Limited saw an N18.05bn weekly loss at the end of trading…
External Reserves Resume Decline, Lose $410m In 17 Days
After rising by a record $5.05bn last month, Nigeria’s external reserves dropped by $410m in the past 17 weeks, the…
Remove Fuel, Electricity Subsidies Early 2022, IMF Tells FG
The International Monetary Fund said on Friday that the Nigerian government should remove fuel and electricity subsidies completely early next…
Low Transparency May Hamper Debt Restructuring, World Bank Warns
Limited transparency will delay critical debt reconciliation and restructuring of the poorest countries, the World Bank Group President, David Malpass,…
Apple To Let IPhone Users Repair Their Own Devices
Starting next year, Apple will sell to its customers using iPhone 12 and 13 “parts, tools, and manuals” to repair…
Nigeria’s 2060 Net-zero Projection
For Nigeria, it was revealed that the nation plans to zero out carbon emissions by 2060 through its Energy Transition…