United Capital Approves N4.2Bn Dividend For Shareholders
The Board of Directors of United Capital Plc has approved the payment of N4.2 billion as dividend to shareholders for…
Category: Local
Central Banks Need To Change Gear
It’s time for central banks to prepare financial markets to regain more influence over longer-term interest rates, braking the move…
Online Fraud Rising As More Nigerians Fall Victims
Increasing number of Nigerians count their losses as activities of cybercriminals continue to rise year-on-year (Y-o-Y) basis. A report from…
Nigeria Must Pay Close Attention To Rising Interest-To-Revenue Ratio – International Monetary Fund Warns
The high cost of servicing Nigeria’s debt compared to the revenue it generates (interest-to-revenue ratio) is an indicator Africa’s largest…
Federal Government Of Nigeria Seeks $1.2bn Loan To Fund Agriculture
The Federal Government has disclosed plans to borrow $1.2 billion to boost the country’s agricultural sector under what it called…
International Monetary Fund Backs Central Bank Of Nigeria, Cautions against Cryptocurrency Transactions
The International Monetary Fund (IMF) has cautioned against transacting in cryptocurrency, saying regulating the digital currency remains a concern not…
FX Market: Central Bank Of Nigeria Intervened With $10.308bn In Six Months
The Central Bank of Nigeria (CBN) sold a total of $10.308 billion in the foreign exchange (FX) market in the…
Federal Government Of Nigeria Targets 500,000 Employees Under Survival Fund Scheme
The Federal Government has announced a plan to support over 500,000 employees with a N30,000 one-off grant, noting that the…
$3.5bn Loan: Nigeria Not Fully Complying With Terms – International Monetary Fund
International Monetary Fund (IMF) has accused the Federal Government of reneging on some of the conditions it promised to keep…
Nigerian Court Blocks Shell’s Accounts Over Alleged Oil Theft
The respondents are the 20 banks where the Shell companies operate accounts in Nigeria The Federal High Court in Lagos…
Central Bank Of Nigeria Directs Banks To Open Dollar Account For Remittances
The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving…
Marketers Raise Petrol Price To N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent…
Nigeria To Turn Central Bank’s $26 Bln Financing Into 30-Year Loan
Nigeria plans to convert 10 trillion naira ($26.3 billion) worth of short-term government financing by the central bank into a…
Interswitch Joins Nigeria’s $17Bn E-commerce Market With Quickteller Business
Interswitch-owned Quickteller has become the latest entrant in the Nigerian e-commerce market estimated at $17 billion. The payment unit announced…
A Nigerian Rivers Investment Firm Flees With Depositors’ Funds
AN investment company in Igwuruta, Obio/Akpor Local Government Area of Rivers State has left its customers devastated after their office…
Nigeria: Declare State Of Emergency On Security, Senate Tells Buhari
The Senate on Wednesday asked the President, Major General Muhammadu Buhari (retd), to declare a state of emergency on security…
Nigerian Marketers Raise Petrol Price To N170, Depots Suffer Shortage
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent…
Federal Government Of Nigeria Subsidises Electricity By N50Bn Monthly, Says Minister
The Federal Government has been subsidising electricity supply across the country to the tune of over N50bn monthly, the Minister…
Nigeria May Demand For Increased Crude Production From OPEC+ In March
Nigeria may demand increased daily crude oil production from OPEC+ in March when the restriction placed on the country’s production…
Experts Caution Federal Government, Central Bank Of Nigeria As Inflation Hits 16.47%
As Nigeria’s headline inflation jumps to 16.47 per cent from 15.75 per cent, economic experts have implored the federal government…
Africa Leads Global Mobile Money Growth With 46 Percent
There are about one billion mobile money accounts globally, according to latest report by cybersecurity giants, Kerspersky. These accounts, the…
Nigeria’s Debt To Balloon Beyond N49trn On Conversion Of Central Bank Of Nigeria N10trn Borrowing
Nigeria has set the terms for the conversion of its stock of central bank overdrafts into long-term notes. The conversion…
Naira Steadies Across FX Market Segments As Bitcoin Sells Above N24.7m
The Naira was relatively stable against other currencies across all the tracked segments at the foreign exchange market on Tuesday,…
Reps, Finance Ministry Spat Over N2.8B Payment To OPEC
The House of Representatives and the Ministry of Finance yesterday disagreed over the procedure for paying N2.8 billion to the Organisation…
Why MTN Is Partnering African Union To Help Vaccinate 7m Health Workers
Every year, the National Fire Protection Association puts out a report about injuries to firemen in the United States. In…
Bitcoin makes history hits $50,000 for the first time
The price of Bitcoin on Tuesday rose above $50,000 for the first time in history. The buzz around bitcoin grew…
Uncompleted Projects: Senate Chides DPR For Paying N1.8bn
The Senate Committee on Ethics, Privileges and Public Petitions has faulted the alleged payment of N1.8bn by the Department of…
Petrol Subsidy May Hit N11.2bn Per Week
The subsidy on Premium Motor Spirit, popularly known as petrol, may have gulped at least N11.20bn in one week as…
Why Petrol Price May Continue To Increase – Retailers
The Petroleum Product Retail Outlet Owners Association of Nigeria (PETROAN) has insisted that the price of petrol will continue to…
The Nigerian Banking Sector Lost N5bn To Fraud In Nine Months, Says NIBSS
The Nigeria Inter-Bank Settlement System Plc has said that more than N5bn was lost as a result of fraud in…