Governor of the Central Bank of Nigeria (CBN), Dr. Olayemi Cardoso has stated that Nigeria’s national currency, the Naira remains undervalued, promising that in 2024 the apex bank will work towards real price discovery in the foreign exchange market. Cardoso made this remark while delivering the keynote address at the Nigeria Economic Summit Group’s (NESG’s) […]
Following the coming on stream of the Dangote Refinery a few weeks ago, the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Dangote Group have set up a joint committee to harmonise the operations of the refinery in line with the provisions of the Coastal and Inland Shipping Cabotage Act 2003. The initiative was […]
One the Economic and Financial Crimes Commission’s (EFCC)’s witnesses, Mr Hamma-Adama Bello, on Tuesday appeared before the Federal High Court (FHC), Abuja and gave insights into how the immediate-past Head of Service (HoS), Mrs. Winifred Oyo-Ita used her companies to launder government’s funds while in service. Bello, who is a Chief Superintendent of EFCC and […]
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, on Wednesday unveiled a new organizational structure for the revenue service, describing the initiative as a critical milestone in the management’s commitment to revolutionize tax administration in Nigeria. Adedeji announced the organizational restructuring of the Service at the ‘2024 Strategic Management Retreat […]
The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr. Charles Odii, on Tuesday disclosed that the agency provided starter packs to 55 small and medium entrepreneurs in Akwa Ibom State in furtherance of its sustained efforts towards enhancing their businesses. Odii made this disclosure during a training session organized by […]
The Nigerian Communications Commission (NCC) has made some clarifications on the recent challenges faced by subscribers in linking their SIMs with NINs, attributing some of the problems to submission of more than one NIN number by them The commission’s Director of Compliance, Mr. Efosa Idehen, explained that duplication of NINs by third-party agents involved in […]
The Independent Petroleum Marketers Association of Nigeria (lPMAN) has said that the over 600% increase in tariffs from the Nigerian Midstream and Downstream Petroleum Regulatory (NMDPRA) between 2020 and 2023 is partly responsible for the current rising cost of petroleum products in the country. The marketers’ group, in a statement issued on Tuesday and signed […]
The FMDQ Exchange has on January this year approved the listing of the Chapel Hill Denham Nigeria Infrastructure Debt Fund (“NIDF”) Series 9 106.35mm of N100 each at N108.89 under its N200 billion on its platform. The firm, which is a leading independent investment banking, securities trading, and investment management entity, focuses on providing unbiased […]
Morgan Stanley, a U.S multinational investment bank and financial services company, has reported that while reinsurance pricing remains robust this year, it is not as formidable as in 2023 as investors will be approaching the sector with caution based on current valuation multiples. The firm noted that reinsurers experienced a pullback towards the end of […]
The African Development Bank (AfDB) has launched and priced a USD 2 billion 3-year Social Global Benchmark due 25 February 2027, its first social bond issued under its new Sustainable Bond Framework, established in September 2023. The Sustainable Bond Programme consolidates and enhances the development finance institution’s existing Green and Social Bond programmes, facilitating the […]