The European Central Bank (ECB) on Thursday announced a record rate hike in its three key interest rates by 75 basis points in its efforts to curb rising inflation across the Eurozone countries. The bank’s Governing Board, stated on the monetary policy measure that “this major step frontloads the transition from the prevailing highly accommodative […]
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Professor Umar Danbatta, has hailed the conferment of the Fellowship of the Nigerian Institute of Public Relations, (fnipr) on two management staff of the commission as meritorious and a testimony to the Commission’s promotion of professionalism and excellence in its scheme of management. The NCC […]
Trading activities in the Nigerian equities market closed positive on Thursday to halt the three days of consecutive losses. Official report on the trading session indicated that the positive performance was driven by recorded gain by some blue chip stocks, mainly in ETRANZACT, ARDOVA, UBN and 17 other stocks. Consequently, the Nigerian Exchange Limited All […]
The Nigeria Deposit Insurance Corporation (NDIC) has won the Federal Government Level Five Platinum Level award for outstanding performance in corporate governance and accountability. The award by the Bureau of Public Service Reforms (BPSR) is based on the Corporation’s outstanding score of Ninety-Three Percent (93%) in the BPSR Self-Assessment Tool (SAT) that was deployed to […]
The World Bank Group has disclosed that it committed the sum of $31.7 billion this financial year (FY2022) to help countries address climate change challenges. The Washington D.C-based multilateral finance institution in a statement hoisted on its website on Thursday indicated that the amount represented a 19 percent increase over the $26.6 billion financing by […]
The Director General of the Securities and Exchange Commission (SEC) Nigeria, Mr. Lamido Yuguda, has described the agricultural sector as key to current efforts by the Nigerian government diversify the nation’s economy in view of the sector’s job creation and other socio-economic benefits. Yuguda made this remark at the 26th Annual Stockbroker’s Conference with the […]
The National Bureau of Statistics (NBS), the coordinating agency for Nigeria’s statistical system, on Thursday reported that Nigeria’s foreign trade grew to N12.84 trillion in the second quarter of 2022, representing a 32.2% increase over the N9.71 trillion recorded in the corresponding period of 2021. However, the statistics agency in the report indicated that when […]
The Lagos Chamber of Commerce and Industry (LCCI) has hinted of its arrangement to engage the 2023 presidential candidates of the All Progressives Congress (APC), Peoples Democratic Party )PDP) and Labour Party (LP) in a parley on their economic plans for the country. The candidates are Alhaji Bola Tinubu (APC), Alhaji Atiku Abubakar (PDP) and […]
Barely two weeks after one of Nigeria’s fintech, Duplo, concluded its seed funding round with resounding success, another Nigerian fintech startup, NowNow Digital Systems, has raised $13 million in its seed round to improve financial inclusion across Africa by providing financial services to the unbanked and under-banked in the continent. The digital payment firm’s funding […]
The Naira exchange rate at the cryptocurrency peer-to-peer FX market dropped by 0.22% to N706.54/$1 on Wednesday morning, down from the N704.99/$1 that the currency traded as of the same time the previous day. However, according to information obtained from black market operators, the Naira on the other hand appreciated slightly by 0.14% on Wednesday […]