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CBN Directs Banks On Issuance, Acceptance Of Old, New Naira Banknotes

The Central Bank of Nigeria (CBN) on Wednesday directed banks to continue to issue and accept old and new Naira banknotes nationwide. The apex bank, in a statement issued by the Acting Director, Corporate Communications, Mrs. Sidi Ali Hakama, clarified: “Following the order of the Supreme Court on Wednesday, November 29, granting the prayer of […]

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NDIC Mulls Upward Review Of Deposit Insurance Coverage

The Nigeria Deposit Insurance Corporation (NDIC) on Wednesday hinted of its plans to increase maximum deposit insurance coverage payment to depositors of liquidated Deposit Money Banks (DMBs), Primary Mortgage Institutions (PMIs), and Microfinance Banks (MFBs) in furtherance of its financial system stability roles. Similarly, the corporation disclosed that it had  introduced the Single Customer View […]

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FG To Invest $1.1Bn In Six Ports’ Rehabilitation

The Nigerian Ports Authority (NPA) has outlined plans to invest about $1.1 billion (about N800 billion) in the various ports across the country in furtherance of its current efforts to reduce the high turnaround times of vessels and improve ports efficiency. The Managing Director of the Authority, Mohammed Bello-Koko,  in an X post on Monday, […]

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NCAA Suspends United Nigeria Airlines’ Wet-Leased Aircraft

The Nigerian Civil Aviation Authority (NCAA), on Monday announced the suspension of all wet-leased aircraft operated by United Nigeria Airlines (UNA) following Sunday’s diversion of airlines’ passengers to Asaba International Airport instead of at their intended destination, Nnamdi Azikiwe International Airport (NAIA), Abuja. In the aviation sector, in a wet lease, an airline (the lessor) […]

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Nigeria Customs Mulls Dedicated Pension Scheme For Officers

The Nigeria Customs Service (NCS) has commenced talks with the Federal Ministry of Finance with a view to initiating an executive bill for consideration by the National Assembly for the establishment of a proposed dedicated Pension Scheme for officers and men of the service. The Comptroller-General of the Service, Adewale Adeniyi, who gave this hint […]

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Air Safety: Minister Summons Aviation Agencies’ Heads To Emergency Meeting

Apparently worried by the rising air travels incidents across the nation’s airports in recent weeks, the Minister of Aviation and Aerospace Development, Mr Festus Keyamo, has summoned heads of aviation regulatory agencies to an emergency meeting to parley on the worrisome development in the industry. The minister’s invitation to the industry’s chiefs for the meeting […]

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Africa Re Reports Net Profit of $75.4Mn In 9 Months

The African Reinsurance Corporation has announced its financial results for the first nine months of this year, which reflected a strong growth in Net Nrofit to $75.4 million and  a “remarkable improvement” compared to the loss recorded at the end of the same period of 2022. A news report from Reinsurance News, an online medium […]

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Investment Analysts Forecast Positive Momentum In NGX

Investment researchers at Bancorp Securities Limited, a leading investment research firm in Nigeria, have predicted some modicum of positive outlook for Nigerian Exchange’s trading this week as macroeconomic indices continued to reflect positive sentiment in the nation’s economy. The investment experts, in the firm’s ‘Weekly Stock Recommendation For Nov 27 –Dec 01 2023’ report noted […]

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FG Initiates Moves To Halt Rising Cooking Gas Price

As the Yuletide celebration season is fast approaching and with consumers lamenting the surging prices of commodities, the Federal Government has set up a committee with a mandate to make recommendations on how to boost domestic supplies of Liquefied Petroleum Gas (LPG), also known as cooking gas. The Committee was set up by the Minister […]

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FG Justifies 50% Subsidy On Agric Inputs’ Supply To Farmers

The Federal Government has approved a 50% reduction in the cost of agricultural inputs for farmers, aligning with the commencement of dry season farming, which kicked off last Saturday nationwide. The Federal Ministry of Agriculture and Food Security in a statement on Friday disclosed that the Minister of Agriculture, Abubakar Kyari, will lead the launch […]