ASSETS & FINANCIALS

  • Presents new naira notes to Buhari today • Standing deposit at 17.5% shows inflation rate manipulated, says expert Raising of interest rate from 15.5 per cent to 16.5 per cent, translating to the standing deposit rate hitting 17.5 per …

The Director of Information Technology at the Central Bank of Nigeria, Rakiyat Mohammed, has said that about 36 million Nigerians currently have zero access to financial services. Mohammed, who spearheaded the development and deployment of the eNaira, stated this on …

Unemployment and inequality will rise because multiple economic and political crises are threatening labour market recovery worldwide, according to the latest edition of the International Labour Organization Monitor on the World of Work. According to the new ILO report, the …

  The World Bank has said that subsidies benefit only rich households and reduce government spending on poor Nigerians. This was contained in a statement on the bank’s website announcing the launch of the new Nigeria Public Finance Review report. …

  The Federal Government is targeting zero rejection of Nigerian products at the global market to drive foreign exchange earnings and boost revenue. Speaking at the launch of Export4Survival campaign held by the Nigerian Export Promotion Council in Abuja on …

  The Debt Management Office has announced the offering of N100bn Ijarah Sukuk bonds for subscriptions. The proceeds would be invested in constructing and rehabilitating certain strategic roads across the country. According to a statement released via the DMO website, …

The International Monetary Fund has faulted the Central Bank of Nigeria’s monetary policy, saying that it has been ineffective in the fight against rising inflation. The IMF in its report tagged ‘How Fiscal Restraint Can Help Fight Inflation’ urged the …

The carbonated soft drinks sub-sector of the Manufacturers Association of Nigeria has knocked the Federal Government over the proposed 20 per cent ad-valorem excise tax on non-alcoholic beverages which covers the widely consumed carbonated soft drinks segment. The sectoral group …

The Central Bank of Nigeria has launched a countdown clock on its website for the January 31, 2023 deadline for the N200, N500, and N1,000 notes currently in circulation. The apex bank had announced a Naira redesign policy to produce …

The Nigerian commodities market player, AFEX has projected an average decline in production of up to 11.5 per cent across commodities like maize, paddy rice, sorghum, and cocoa. AFEX revealed this on Wednesday during the unveiling of its ‘2022 wet …

As low sentiment continues to deepen in the Nigerian equities market, Guinness Nigeria’s share price depreciated by 19% to close at N60.50 per share, taking the market capitalization to N132.518 billion from N163.512 billion closed on the 15th of November. …

  The endless depreciation of the naira and the rising inflation have eroded Nigerian workers’ N24.88tn salary received in the first six months of 2022. The salaries of workers in the Nigerian formal sector increased from N21.80tn in the first …

The increase in the price of fuel, scarcity of foreign exchange, and disruption in food supply chain pushed headline inflation to a new record high of 21.09 per cent in October, according to the National Bureau of Statistics. This is …

The management of the Nigerian Content Development and Monitoring Board has announced the movement of her flagship annual Practical Nigerian Content conference to Uyo, Akwa-Ibom State. The Executive Secretary, NCDMB, Engr. Simbi Kesiye Wabote made the announcement in an email …

By Genevieve Aningo The Director General of the Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN), Mr. Olawale Fasanya has reiterated that the Small and Medium Enterprises (SMEs) have the potential to yield rapid integration, growth and development of …

  The Managing Director, Japan External Trade Organisation, Takuma Taninami, has said the current business relationship between Nigeria and Japan is not enough. According to him, the huge Nigerian market was yet to be fully tapped into by Japanese and …

  Elon Musk has told Twitter staff that remote working will end and “difficult times” lie ahead, according to reports. BBC reported that in an email to staff, the owner of the social media firm said workers would be expected …

The naira has rebounded by 20.8 per cent to 720/dollar at the parallel market, findings by media source have shown. The development came two weeks after the local currency came under severe pressure at the black market, following the announcement …

  German sportswear giant Adidas slashed its earnings forecast on Wednesday, saying the end of its partnership with rapper Kanye West would cut this year’s net income in half. The group now expects a net profit from continuing operations of …

The Asset Management Corporation of Nigeria recovered a total of N307 billion debts between 2020 and 2021. An inter-agency committee set up on the recovery of debts owed to the Asset Management Corporation of Nigeria  submitted its report to the …