At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters. A source at the apex bank told our correspondent exclusively that the plan, though …
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Trading Floor of NSE The market capitalisation of the Nigerian Exchange gained about N1.24tn at the end of Monday’s trading to close at N57.28tn, bringing it closer to the historic N60tn mark. That was as the market value of Dangote …
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The naira fell to an all-time low of N1348.63/$ on the Nigerian Autonomous Foreign Exchange Market on Monday. This signifies a 51.21 per cent fall from the N891.90/$ the national currency closed last Friday at the official market, according to …
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Sanusi The former Emir of Kano, Sanusi Lamido, has urged the Central Bank of Nigeria to go ignore noise against the relocation of some departments from the Abuja office to Lagos. The former CBN Governor, in a statement on Thursday, …
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Being a top mobile-based payments platform, OPay has pledged to implement a thorough removal process for accounts lacking a Bank Verification Number (BVN) and/or National Identification Number (NIN) starting March 1, 2024. This is as a result of a recent …
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The value of Nigeria’s non-oil export revenue recorded a marginal decrease to $4.5bn in 2023, the Nigerian Export Promotion Council has said. The drop represents a $300m or 6.3 per cent decline from the $4.8bn revenue accrued to government coffers …
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The Central Bank of Nigeria has uncovered infractions, gross abuses, and non-compliance with foreign exchange market regulations. Consequently, the apex bank vowed it would punish those responsible for these abuses in collaboration with relevant agencies. The CBN Acting Director of …
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The Director-General of Nigeria Employers’ Consultative Association, Mr Adewale Oyerinde, has said that the disposable income of an average Nigerian worker has been severely affected by the high rate of inflation in the country, fuelling economic struggles among them. He …
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The equities of Chams Holdings Plc (+10 per cent), PZ Cussons (+10 per cent) and 66 other gainers drove the equity market to a gain of N874bn at the close of trading on Monday. The All-Share Index appreciated by 1.92 …
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Cardoso, CBN’s Governor A few hours after dissolving the board of directors governing Polaris, Union, and Keystone banks, the Central Bank of Nigeria has appointed new executive directors to oversee the affairs of the deposit money banks. The apex bank, in a …
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In Nigeria, the waste collection industry is critical to addressing growing environmental concerns and supporting sustainable waste management methods. Waste, sometimes known as “garbage” is the term used to describe abandoned materials, substances, or by-products that are no longer valuable or intended for …
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The Minister of Agriculture and Food Security, Abubakar Kyari, on Friday, said the Federal Government had commenced the massive production of food crops in order to bring down the prices of food items across the country. He said the target …
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Foreign investments in Nigeria’s manufacturing sector fell by $326m (54 per cent) to $279.5m in the third quarter of 2023 from $605m recorded in the second quarter, according to the latest Capital Importation report published by the National Bureau of …
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Minister of Industry, Trade and Investment, Dr Doris Uzoka-Ani The Federal Government intends to spend N350bn on a consumer credit fund and national poverty reduction strategy in 2024. This is according to details from the recently passed N28.77tn 2024 Budget. …
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World Bank has said that the success rate of diaspora bonds can be boosted if citizens living in the diaspora are consulted ahead of issuance. The Bretton Woods Institution made this known in its latest Migration and Development Brief released …
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Banking stocks were the main drivers of the gain recorded by investors on the Nigerian Exchange Limited in the first two trading sessions of 2024. At the close of trading, the market capitalisation had gained over N1.5tn combined from Tuesday …
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Cash withdrawals will not be possible from accounts opened for virtual and digital assets transactions, the Central of Nigeria has disclosed. Withdrawals from these accounts will only be possible by transfer or through a manager’s cheque, the apex bank explained. …
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President Bola Tinubu The National Assembly has raised its 2024 budgetary allocation by 74.23 per cent to N344.85bn. This will be the highest-ever budgetary allocation to the National Assembly whose initial allocation in the 2024 budget proposal was pegged at …
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Former Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema The Nigerian Exchange Group has announced the appointment of Temi Popoola as the Group Managing Director/Chief Executive Officer-designate of the group ahead of the retirement of …
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The Federal Government has grown its non oil revenue by 67 per cent to approximately N4tn quarter-on-quarter, according to the Central Bank of Nigeria’s third quarter report. The report also showed that the Federal Government’s collected revenue increased by 50.1 …
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