The National Bureau of Statistics (NBS), the Nigerian statistical system coordinating agency, has reported that bank credit to the organized private sector (OPS) totalled N267.11 trillion in 2021. The statistics agency, in its latest ‘Selected Banking Sector Data Q1-Q4 2021’ report published in October 2022, indicated that the total credit allocated to the private sector […]
The Director-General of Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has advised investors in Nigeria to explore the opportunities in the nation’s capital market to grow their businesses, create wealth and improve their standards of living. The capital market regulator gave this advice on Wednesday during the opening session of the Maiden Gombe […]
The Nigerian Communications Commission (NCC) has said that Nigeria will need investments in the deployment of additional 120,000 kilometres of fibre optic cables and about 40,000 Base Transceiver Stations (BTS) to meet the New National Broadband Plan (NNBP) 2025 target. The commission’s Executive Commissioner (Stakeholders’ Management), Barrister Adeleke Adewolu, made this remark while delivering the […]
The Executive Vice Chairman (EVC) of the Nigerian Communications Commission, Prof. Umar Danbatta, has said telecom infrastructure remains critical to successful conduct of the 2023 elections and solicited the support of every Nigerian in protecting the telecom assets for the benefit of the country. Danbatta, who made this remark as a special guest at the […]
The Naira depreciated in exchange value at the black market in the early hours of Monday, trading at N731/$1, representing 0.14% drop from N730/$1 it exchanged for last Friday. Market information also indicated that the Naira also slightly depreciated by 0.29% at the cryptocurrency peer-to-peer (P2P) FX market, to trade at N731.94/$1 compared to the N729.8/$1 […]
Nigeria and Ghana’s Securities and Exchange Commissions have signed a renewed Memorandum of Understanding (MoU) in their joint efforts to strengthen market integration and create better opportunities for economic prosperity in the two countries and by extension, the West African subregion. Speaking during the signing ceremony in Accra at the weekend, Director General of the […]
The Lagos Chamber of Commerce and Industry (LCCI) has flawed Federal Government’s plans to finance the N10.78 trillion deficit estimates in the 2023 proposed budget through new commercial loans and drawdown on bilateral and multilateral loans. The Chamber, in a statement issued on Sunday and signed by its Director-General, Dr. Chinyere Almona, described the fiscal […]
The National Insurance Commission (NAICOM) has reported that Nigeria’s insurance industry’s total assets grew to about N2.3 trillion in the second quarter (Q2) of 2022, representing 11.9 percent quarter-on-quarter growth. The commission gave these figures in its latest bulletin on ‘Insurance Market Performance’ which also reflected that the total in Non-Life Insurance stood at N1.2 […]
The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT) has raised concern about a high-impact threat to Windows operating system, the Blackbyte Ransomware, which has the capacity to bypass protections by disabling more than 1,000 drivers used by various security solutions. The NCC-CSIRT stated the BlackByte ransomware gang, which is using a new technique […]
……Proposes N20.51Trn Budget For Fiscal 2023 President Muhammadu Buhari said on Friday that oil subsidy would be discontinued in fiscal 2023 to ensure improved efficiency in public finance and enable the administration to commit savings from the subsidy to other critical sectors with huge potentials to ameliorate the current socio-economic hardships of ordinary citizens […]