The Development Bank of Nigeria (DBN) on Friday disclosed that it had disbursed about N700 billion to Small and Medium Enterprises’ (SMEs’) owners in the last seven years in furtherance of its mandate to support efforts by the government to grow the nation’s economy. The Managing Director of the development finance institution, DBN gave this […]
Despite sustained efforts by West African governments to introduce a single currency for cross-border transactions in the sub-region, indications have shown that the quest for a single currency regime by them is becoming a herculean task in terms of performance assessment. The West African Monetary Zone (WAMZ) Director- General, Dr. Olorunsola Olowofeso, on Friday expressed […]
Following the successful issuance of its sixth Sukuk bond worth N350 billion in October 2023, the Debt Management Office (DMO) has announced the listing of the Sukuk on NGX and FMDQ Securities Exchange. According to a statement by the DMO on the debt instrument, listing the N350 billion Sukuk will enable investors who didn’t subscribe […]
The National Bureau of Statistics (NBS) reported on Friday that the National average Cost of a Healthy Diet (CoHD) was N858 in January 2024. The Bureau, in its ‘Cost of Healthy Diet January 2024’ report published on Friday, March 8, indicated that the report’s findings showed that the average CoHD was highest in the South […]
In 2023, Nigeria’s total foreign trade increased to N71.88 trillion from N52.38 trillion recorded in 2022, representing an increase of 37.2% year-on-year (Y-o-Y) These figures were contained in the Foreign Trade in Goods Statistics (Q4 2023) report published by the National Bureau of Statistics (NBS) on Friday, March 8, on its website. The statistics agency […]
The Federal Government on Thursday inaugurated an Intergovernmental Committee on Carbon Market Activation Plan with the mandate of exploring opportunities in Africa’s $2.5 billion carbon market for the nation’s economic development The Vice President, Kashim Shettima, who inaugurated the committee on behalf of the President, Bola Tinubu, said the committee’s mandate was to develop a […]
The Central Bank of Nigeria (CBN) has reported that remittances into the country rose to $1.3 billion in February 2024 compared to $300 million in the preceding month, representing the highest value of inflows to the economy over the past months The Bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, disclosed this during […]
The General Manager of Regulation and Compliance at the Transmission Company of Nigeria (TCN), Ali Bukar Ahmad, on Thursday reported that out of an estimated population of 230 million in the country, only 13,112,134 electricity consumers had been registered. Ahmad gave these figures during the National Institute of Physics webinar Series 2.0 titled “Policy, Regulatory […]
The Securities and Exchange Commission (SEC) Nigeria has hinted of the development of new guidelines aimed at enhancing the licensing, registration, and screening processes for digital and virtual asset service providers (VASPs). The commission, in a Notice to the effect stated that the measures were crucial in preventing individuals with criminal backgrounds from participating as […]
The US’ Securities and Exchange Commission (SEC) has adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules, which were adopted on Wednesday,reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a […]