The African Development Bank, (AfDB) has expressed concern that Africa may lose as much as 12% of its current Gross Domestic Product (GDP) value by year 2100 if the current trends in climate finance flows into Africa remained sustained. The development finance institution, in a statement issued on Friday as its governors gathered in Egypt […]
The National Bureau of Statistics (NBS) reported on Saturday that Nigeria’s inflation rate rose to 22.04% in March this year, from the 21.91% recorded in February, representing a 0.13% points rise month-on-month. In its just published’ ‘Consumer Price Index (CPI)’ report, the Bureau indicated that on a year-on-year basis, the March 2023 headline inflation rate […]
The Central Bank of Nigeria (CBN) has unveiled plans to create trust fund for bank customers’ accounts that had remained dormant for up to 10 years and above with unclaimed balances for the purpose of warehousing unclaimed balances in eligible accounts. The apex bank, in its ‘Exposure Draft of Guidelines on the Management of Dormant […]
For the second consecutive trading session, investors in the Nigerian Exchange (NGX) on Friday lost N28 billion as the trading session closed negative amidst buy-interests and sell-offs, driving down the broad market. At the end of the trading, the All-share Index (ASI) depreciated by 0.09% to close at 51,893.94 points just as the market capitalization […]
The Nigeria Sovereign Investment Authority (NSIA) on Thursday reported a 10.5% growth in its net assets to N1.02 trillion in financial year (FY) 2022, when compared to the N919.73 billion the assets’ value stood in FY 2021 The authority’s Managing Director/Chief Executive Officer, Mr. Aminu Umar-Sadiq, who disclosed this during a chat with journalists at […]
Fidelity Bank Plc has announced 100% subscription by investors to its Private Placement of 3.04 billion ordinary shares of 50 kobo each at N4.60 per share which was opened on 22nd February this year and closed the following day. The bank, in a Notice to the Nigerian Exchange Limited (NGX) on the results of the […]
The Securities and Exchange Commission (SEC) Nigeria announced that the newly redesigned electronic Dividend Mandate Management System platform would be inaugurated on July 31. The e-DMMS portal utilises the Nigeria Inter-Bank Settlement System Plc robust Document Management System to which completed e-Dividend Mandate Forms filled by the investor could be uploaded. The commission’s Director-General, Mr […]
The Nigerian Exchange (NGX) closed negative on Thursday amidst buy-interests and sell-offs as bears regain dominance, driving down the broad market. Data on the day’s trading session from the Nigerian Exchange Group (NGX) indicated that the All-share Index (ASI), the benchmark index, depreciated by 0.02% to close at 51,944.58 points while the Market Capitalization declined […]
The Central Bank of Nigeria (CBN) on Thursday warned members of the public on a fraudulent recruitment portal opened by fraudsters requesting applicants to submit their application for employment, adding that it has nothing to do with the spurious portal. The apex bank, in a statement issued by its Acting Director, Corporate Communication, Dr Isa […]
The Federal Government has set a target of $500 million foreign exchange (FX) earnings from cashew nuts exports from the country in 2023, representing about 50% increase earned from the commodity’s exports in 2022. The Executive Secretary of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, who made this projection during an interview with […]