The Securities and Exchange Commission (SEC) Nigeria has identified investment in and deployment of financial technology (fintech) as crucial in attracting youth participation in the nation’s fast growing capital market and deepening its base. The commission’s Director-General, Mr. Lamido Yuguda, explained that this was why the commission had been encouraging operators to develop the right […]
The Naira sluggishly opened the week on Monday in sustained efforts to strengthen its exchange rate against the US dollar, trading at an average of N751/$1 compared to the N750/$1 it traded last Friday, representing 0.13% depreciation during the trading session. Some FX traders in the Federal Capital Territory (FCT) partly linked the slight depreciation […]
The Nigeria Customs Service Ogun I Area Command has reported N28.4 million as revenue generated through import duties, auction sales of scrap vehicles and petroleum products. The Command’s Area Controller, Comptroller Bamidele Makinde, who made this disclosure explained that genuine imported goods were assessed and processed under the Economic Community of West African States (ECOWAS) […]
Nigeria’s Federal Inland Revenue Service (FIRS) and the United Kingdom’s His Royal Majesty’s Revenue and Customs (HMRC) have signed a Memorandum of Understanding (MoU) for the purposes of improved collaboration on capacity building for their manpower resource. Speaking during the MoU signing event in London, the Executive Chairman of the FIRS, Mr. Muhammad Nami, explained […]
The Naira sustained its losing streak at the black market for the third consecutive day on Thursday, depreciating by 0.40% to trade at N755/$1 from the N752/$1 it traded on Wednesday. Some FX dealers linked lower exchange rate of the local currency to current lull in economic activities as buyers’ traffic to the parallel market […]
Mouka, one of Nigeria’s leading foam mattresses and other sleep products manufacturing companies, has joined the World Sleep Society and thousands of sleep health professionals and advocates raising awareness of the importance of good sleep for healthy living. The World Sleep Day, which is celebrated annually on March 17, is being commemorated this yearwith the […]
Shell Petroleum Development Company of Nigeria Limited (SPDC), has announced the lifting of the force majeure on its 250,000 barrels per day (b/pd) Bonny export terminal effective from Wednesday, 15 March, 2023. One of the company’s spokespersons, who gave this hint said: “The Shell Petroleum Development Company of Nigeria Limited (SPDC), operator of the SPDC […]
The Ghanaian Government on Wednesday announced the phasing out of fuel subsidy regime in its fiscal measures to ensure stability and efficiency in the operations of the downstream sub-sector of the nation’s oil and gas industry. The Chief Executive Officer of Ghana National Petroleum Authority (NPA), Mr. Mustapha Abdul-Hamid, who broke this news during a […]
The Japanese Government has announced plans to boost cooperation with Nigeria and other Sub-Saharan African (SSA) countries by investing about $30 billion in Nigeria and others between now and year 2025. The Japanese Ambassador to Nigeria, Mr. Matsunaga Kazuyoshi, made this disclosure at an event organized by the Japanese Embassy to commemorate the 63rd birthday […]
Nigeria’s equities market trading closed negative on Wednesday as bears sustained their hold on the local bourse for the third consecutive session, thereby diminishing the broad market’s performance Consequently, the market’s All-share Index (ASI) depreciated by 0.41% to close at 55,490.2 points while the market capitalization declined by N127 billion to close at N30.228 trillion […]