Business
5 hours ago
Data sourced from the Central Bank of Nigeria (CBN) suggest the economy may be relapsing to cash hoarding again a year after the chronic currency scarcity even as the proportion of currency in circulation that is held outside the banking system has returned to the pre-naira redesign level.
5 hours ago
African Development Bank (AfDB) President, Dr Akinwumi Adesina, said that Africa's immense economic potential is being undermined by non-transparent resource-backed loans that complicate debt resolution and compromise countries' future growth.
5 hours ago
President of the Commonwealth Association of Tax Administrators (CATA) and chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, has called for increased capacity building to enhance tax administration processes among members of the global body.
5 hours ago
The recently held 13th Convocation Ceremony of the National Open University of Nigeria (NOUN) may have come and gone, its memories will linger for a long time to come.
5 hours ago
The Nigeria Economic Summit Group (NESG) said the Lagos Free Zone (LFZ) has the potential to contribute significantly to the country's gross domestic product (GDP) if fully harnessed.
5 hours ago
Stakeholders at the 2024 yearly lecture of the Chartered Institute of Bankers of Nigeria (CIBN) have called for the adoption of appropriate credit culture to pave the way for an enhanced loan securitisation process and availability of credit to the real sector.
6 hours ago
Stakeholders have highlighted significant failure in the implementation of the Sustainable Development Goals (SDG) relating to transport in Nigeria, expressing deep concern over the country's lag in creating effective transport policies that align with SDG 11.2 which aims for safe, affordable and sustainable transport systems by 2030.
6 hours ago
With the announcement by MTN Group of the appointment of M&C Saatchi Africa as its marketing communications partner across all MTN Group, M&C Saatchi's Nigerian affiliate, SO&U Group, will be responsible for the business in Nigeria.
6 hours ago
Mastercard and the Committee of E-Banking Industry Heads for Nigeria (CeBIH) have joined forces to tackle the activities of cyber criminals in the country.
6 hours ago
United Capital Plc has assured shareholders that the firm would deploy robust digital technology to further unlock opportunities and stay ahead of trends in the industry.
1 day ago
In a significant strategic shift, LandWey Investment Limited, a leading player in Nigeria's real estate sector, is setting its sights on a public listing, following a bold attempt to acquire UPDC in 2020. According to a statement made available to the media on Wednesday, in Lagos, the property development company said the move marks a…
1 day ago
The Managing Director of Nigeria Breweries Plc, Hans Essaadi, said the fact that the naira has shown some appreciation against the dollar in recent weeks has had little or no impact on input cost.
1 day ago
The Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, said the recently-launched Tingo Cola and Tingo Electric energy drink would not only deepen local content principles and compete locally with other exportable brands but would also provide employment to hundreds of youths in the country.
1 day ago
Despite the abundance of raw materials needed for self-sufficiency and the production of pulp and paper in the country, Nigeria is still missing out on the massive income to be made on the production, sale and export valued at $360 billion.
1 day ago
The Chartered Institute of Taxation of Nigeria (CITN) has warned political leaders against abuse of taxpayers' money, stating that collecting tax revenue from taxpayers without using it judiciously weakens the country's taxation system.
1 day ago
To halt the fresh panic building over the fate of the naira, the Central Bank of Nigeria (CBN) is set to disburse another tranche of liquidity intervention to 1,583 Bureau de Change operators.
1 day ago
Oil-producing communities in Niger Delta have called for transparency and accountability in the ongoing divestment of oil and gas assets in the region.
1 day ago
The Presidential Enabling Business Environment Council (PEBEC) in its 2023 Business Facilitation Act (BFA) has adjudged the Nigerian Content Development and Monitoring Board (NCDMB) and the Standards Organisation of Nigeria (SON) as best in business facilitation, with 29 agencies scoring below 50 per cent.
1 day ago
Daniel Oyeduntan, a seasoned professional with about a decade of experience in data science and machine learning, is capturing the attention of the technology industry across EMEA.
1 day ago
With a focus on maximizing production from the hydrocarbon assets to enhance revenues and meet production quota, the Nigerian National Petroleum Company Limited (NNPCL) and its joint venture partner in the Awoba Unit Field, Newcross Exploration and Production Limited, have resumed production from the field with an initial average production of 8,000 barrels per day (bpd)
1 day ago
The Nasarawa State government said it is leveraging industrial, agricultural and mining potential for inclusive and sustainable wealth creation in a bid to drive its industrialisation agenda and position the state as an economic hub.
1 day ago
With a headline inflation rate of 33.2 per cent and food inflation of 40.01 per cent, chiefly blamed on the high cost of transportation, which has continued to rise, it might take a while for respite to come.
1 day ago
Following the recent appointment of new management and board for the Securities and Exchange Commission (SEC), shareholders have stressed the need for the members to accelerate the development of the capital market by improving the response time to complaints and monitoring listed firms' compliance with extant rules.
2 days ago
The price of Liquefied Petroleum Gas (LPG), also known as cooking gas, has continued its upward swing rising by 7.1 per cent in the last month, thus making life more difficult for Nigerians who are struggling with food inflation.
2 days ago
Various fibre cuts may have cost affected telecoms operators, especially MTN and Airtel, about N27 billion ($23 million) in repairs last year. To reduce the cost of the operations of the firms, the Federal Government through the Ministry of Works
2 days ago
The Federal Government, through the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, has announced the launch of N200 billion Presidential Intervention Fund for Micro, Small and Medium Scale Enterprises (MSMEs) and manufacturers in Nigeria.
2 days ago
United Capital Plc, a leading Pan-African financial services group, convened its 11th Annual General Meeting yesterday at the Transcorp Hilton Hotel, Abuja, following another year of exceptional financial performance. Shareholders were delighted at the declarationof a dividend payout of N10.8 billion, equivalent to N1.80 per share. The meeting commenced with a statement by Prof. Chika…
2 days ago
After a weekend of tension over the resignation of Dr Adesola Adeduntan, Olusegun Alebiosu has emerged as the Acting Managing Director/Chief Executive Officer of First Bank of Nigeria Limited (FirstBank Group)
2 days ago
Just as it is with corporate goal setting, collaboration for effective performance involves integrating a system that gives employees the opportunity to engage or provide feedback.
2 days ago
UBA America, a subsidiary of the pan-African financial giant United Bank for Africa (UBA) Plc, has reinforced commercial diplomacy among countries, institutions and individuals while fostering robust international collaborations.
2 days ago
There is fresh hope among the Nigerian insurance industry players that the appointment of Olusegun Omosehin as the new Commissioner for Insurance/Chief Executive Officer of the National Insurance Commission (NAICOM) continues to generate interest in various segments of the industry.
3 days ago
The tasks of the Nigerian delegation to the just-concluded International Monetary Fund (IMF) and the World Bank Spring Meetings in Washington, United States, were well defined – sell Nigeria, seal economic pacts and market packages
3 days ago
Inflation will hit 34.98 per cent this month, analysts at Cordros Capital analysts have said.
3 days ago
There is fresh hope among the Nigerian insurance industry players that the appointment of Olusegun Omosehin as the new Commissioner for Insurance/Chief Executive Officer, the National Insurance Commission (NAICOM) continues to generate interest in various segments of the industry.
3 days ago
Problems associated with infractions in the capital market may soon become a thing of the past, as the Securities and Exchange Commission (SEC) has announced that its information technology (IT) project that would enable the commission to detect infringement in the market real time has attained over 75 per cent completion.
3 days ago
The General Manager of Pharma Sales and Marketing at May & Baker Nigeria Plc, Obinna Sydney Emeribe, said the company is optimistic about its growth trajectory and targeting N27 billion in revenue for 2024.
3 days ago
Transcorp Hotel Plc said its five-star Lagos Ikoyi is near completion and will be delivered by 2027.
3 days ago
Financial analysts have stated that a stable foreign exchange regime would facilitate speedy return to profitability of Nigerian Breweries Plc and other multinationals that were hit by a gale of foreign exchange headwind in the 2023 financial year. This is coming as the company has announced strategic business recovery plans designed to return it…
4 days ago
The motion by the Senate that mobile courts be established for trial and imprisonment of parents and guardians refusing to enroll their wards in school may appear to be drastic; but it is a wake-up call to all stakeholders to save the children from a bleak future and save Nigeria from chronic underdevelopment,
4 days ago
The Minister of State Petroleum Resources (Gas), EkperikpeEkpo has assured of the ministry’s readiness to partner with Akwa Ibom State to unlock the economic potential of gas resources in the state.
4 days ago
The shareholders of Access Holdings Plc have backed the group’s plan to establish a capital raising programme of US$1.5b as well as the subset initiative to raise up to N365b, specifically, through a Rights Issue of ordinary shares to its shareholders.
4 days ago
The Federal Government has been urged to enforce Executive Orders No 003 and 005 to encourage patronage of locally produced goods thereby boosting the country’s economy.
4 days ago
To concretise efforts geared towards facilitating increased export by the Federal Government, the Nigerian Ports Authority (NPA) and the Nigeria Customs Service (NCS) have commenced moves to eliminate duplication of export process at seaports.
4 days ago
The Academy Press Plc has expanded its operations to improve quality colour prints and high-speed web offset presses.
4 days ago
SeamlessHR, Africa’s leading HR and payroll technology company, has reiterated its commitment to empowering Nigerian financial institutions to optimise their workforce productivity and performance in challenging economic times through cutting-edge technology solutions. The African SaaS giant made this statement during an engagement session with industry leaders across the banking and financial services industry in response…
19 Apr
The Lagos Chamber of Commerce and Industry (LCCI) is deeply worried about the various economic headwinds confronting the stability of the Nigerian economy.
19 Apr
The World Bank Group and the African Development Bank Group are partnering on an ambitious effort to provide at least 300 million people in Africa with electricity access by 2030.
19 Apr
Trading activities on the floor of Nigerian Exchange Limited (NGX) halted gains to close on a downturn yesterday, causing market capitalisation to decline by N35 billion.
19 Apr
Worried by the dwindling oil production and the need to drive investments in the nation’s oil and gas sector, the Federal Government, through the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has underscored the imperative of ramping up production as a pivotal strategy to ensure stability in the midstream and downstream sectors of the industry.
19 Apr
Access Pensions has emphasised its commitment to offering thorough guidance and assistance to customers interested in Pension Backed Mortgages (PBMs).
19 Apr
To further address the energy inefficiency in the country, the Chief Executive Officer, Stanbic IBTC Holding Plc, Dr. Demola Sogunle, said N350 billion fund has been raised to support customers in the energy sector.
19 Apr
Amid geo-political tension marked by uncertainty, volatility, and disruptive forces, the Chartered Institute of Directors Nigeria (CIoD) has tasked directors on effective leadership, noting that their roles as leaders assume even greater significance in turbulent times.
18 Apr
Stakeholders in the insurance and pension industry have called on operators in the sectors to adopt artificial intelligence (AI) to drive business expansion in the country.