The Nigerian Communications Commission (NCC) on Monday directed mobile network operators (MNOs) to commence implementation of approved harmonized short codes (HSC) for providing certain services to telecom consumers in Nigeria in furtherance of its consumer-centric approach to telecoms regulation in the country. The Commission, in a statement issued by its Director, Corporate Communications, Rueben Muoka, […]
The Naira depreciated by 0.13% at the parallel market on Monday to trade at N755/$1 from the N754/$1 it traded last Friday. FX dealers in the Federal Capital Territory spoken with by our correspondent on telephone linked that the depreciation of the local currency exchange value against the dollar to sundry factors but more particularly […]
The National Identity Management Commission (NIMC) on Monday stated that effective from April 1 this year applicants for Nigeria’s international passport would be paying for the verification of their National Identity Number (NIN) during the process of issuing the passport to them. To ensure compliance with the latest directive, the commission has reeled out a […]
The Securities and Exchange Commission (SEC) Nigeria has said that the implementation of the Pan-African Payment Settlement System (PAPSS) will boost intra-African trade and diversification within the capital market in the years ahead. The Head, Office of the Chief Economist of the capital market regulatory commission, Dr. Okey Umeano, made this remark during the signing […]
The Nigerian Exchange (NGX) opened on Monday with bears sustaining their hold on the local bourse, thereby impacting negatively on the broad market’s performance As a result, at the end of the day’s trading the market’s All-share Index (ASI) depreciated by 0.01% to close at 55,788.37 points while the market capitalization dipped by N3 billion […]
The Centre for the Promotion of Private Enterprise (CPPE), a leading economic think-tank in Nigeria, estimated the protracted acute cash scarcity has cost the country over N20 trillion even as the negative impacts on households and ordinary Nigerians cannot be quantified in monetary terms. The Centre’s Chief Executive Officer, Dr. Muda Yusuf, in a statement […]
The African Development Bank (AfDB) has launched an AUD 50 million 15-year Kangaroo Green Bond due March 2038 as part of its sustained initiatives towards the implementation of its Green Bond Framework aimed at supporting Africa countries’ transition to green growth. The new issuance, which is the bank’s sophomore green bond in the Australian dollar […]
The Securities and Exchange Commission (SEC) Nigeria has approved a new share buy-back programme for Dangote Cement Plc as part of the manufacturing company’s financial strategies for improved returns on its assets and stock value. A Notice on the approval from the Nigerian Exchange Limited (NGX) indicated that the share buy-back programme would expire on […]
Shell, a global leading energy firm, has reported a sharp decline in oil spills associated with the Exploration and Production (E&P) activities in Nigeria in 2022 to 600 tonnes from 3,300 tonnes recorded in 2021, representing about 500% decline. Reuters reported the oil giant as saying that the sharp decline in oil tonnage spills in […]
The Naira stabilized its exchange rate against the US dollar at the black market on Thursday, trading at an average of N750/$1, the same rate it traded the previous day. Some FX traders at the FCT Wuse Zone 3 axis in the FCT attributed the local currency’s stability to renewed hope about improved business activities after […]