As discourses on finding sustainable solutions for a de-carbonized energy future continue to gain stronger momentum globally, the Group Chief Executive Officer of Nigeria National Petroleum Company Limited, (NNPCL), Mr. Mele Kyari, has canvassed the need for global leaders to support “a just, differentiate transition” for Africa to enable it harness its hydrocarbon resources for […]
The Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, has announced its signing of a US$350 million long-term line of credit with the African Development Bank (AfDB) to urgently provide the needed financing for infrastructure projects to underpin sustainable development and economic growth in the continent. The agreement, which was signed […]
The European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) have announced new capital commitments to the Emerging Market Climate Action Fund (EMCAF). Under the funding deal, the United Kingdom Foreign, Commonwealth & Development Office (FCDO) will commit €10 million (£9 million) just as Kreditanstalt für Wiederaufbau (KfW), on behalf of Germany’s Ministry for Economic […]
The Securities and Exchange Commission (SEC) Nigeria and the Islamic Financial Services Board (IFSB), an international standard-setting body with a vested interest in ensuring the soundness and stability of the global Islamic financial services industry, are set to convene an SEC Nigeria-IFSB International Forum on Non-Interest (Islamic) Capital Market. The SEC, in a statement issued […]
Investment analysts at Bancorp Securities Limited, a leading investment and research consulting firm in Nigeria, have projected a positive outlook for Nigerian Exchange trading sessions this week as the Yuletide season approaches. In the firm’s ‘Weekly Stock Recommendation: December 4 – December 8. 2023’ report circulated to our correspondent on Monday, the experts predicted that […]
The Minister of Solid Minerals Development, Mr Dele Alake, on Tuesday urged foreign investors to take advantage of low cost of production in Nigeria’s mining sector and invest in it for huge returns. Alake, in a speech delivered at the Mines and Money Conference held in London, said the President Bola Tinubu-led administration was currently […]
President Bola Tinubu on Wednesday presented an Appropriation Bill of N27.5 trillion for fiscal 2024 to the National Assembly for passage. Presenting the proposed budget tagged “Budget of Renewed Hope” to the joint session of the National Assembly, the President explained that the key thrusts of the fiscal proposal were national defence, internal security, job […]
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 […]
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, […]
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 […]