Investors’ growing appetite for shares with good returns prospect was sustained in the Nigerian equities market during the week ended last Friday, as the bourse’s All-Share Index grew by 0.63% compared with the 0.59% decline recorded in the preceding week. The weekly stock market report released by the Nigerian Exchange Group (NGX) showed that the ASI […]
The Central Bank of Nigeria (CBN) on Friday announced the release of the sum of $265 million to airlines operating in the country to support their operations and partly offset the carriers’ outstanding ticket sales funds trapped in the country. The bank’s Director, Corporate Communications Department Mr. Osita Nwasinobi, in a statement quoted the CBN […]
The Nigeria Deposit Insurance Corporation (NDIC) has said that effective resolution of banks in distress as critical to guaranteeing depositors’ protection in the country. The corporation, on its official Twitter handle on Thursday, tweeted that the effective resolution of lender’s crisis would also ensure the stability of the financial system. According to the tweet, developing […]
MTN Nigeria’s Chief Enterprise Business Officer, Mrs. Lynda Saint-Nwafor, on Thursday assured telecommunication subscribers in the country that the telecom operator’s deployment of 5G technology would enhance operational efficiencies for businesses in the country. Saint-Nwafor, who gave this assurance at the Nigeria-South Africa Chamber of Commerce (NSACC) August Breakfast meeting in Lagos, said 90 percent […]
…..says 45% Nigerian adults without bank accounts The Central Bank of Nigeria (CBN) yesterday unveiled the Unstructured Supplementary Service Data (USSD) code for the eNaira, the nation’s digital currency. The bank, in a tweet, assured that the code, *997#, would help deepen financial inclusion as all transactions can be accessed through the channel. The CBN […]
Nigerians in Diaspora have commended the African Development Bank (AfDB) for its funding and capacity building supports for key projects critical to the socio-economic transformation of Nigeria and other countries in Africa. A statement issued by the Nigeria Country Department of the bank on Friday, indicated that the representatives, who comprised women and youth groups, […]
The Nigerian Maritime Administration and Safety Agency (NIMASA) has restated its commitment to taking deliberate steps to work with critical institutions and professional bodies to improve the contributions of the maritime industry’s sector to Nigeria’s development. The Director-General of the agency, Dr. Bashir Jamoh, gave this assurance when a branch of the Nigerian Bar Association […]
The National Agency for Science and Engineering Infrastructure (NASENI) has signed a Memorandum of Understanding (MoU) with Japanese, Israeli and Nigerian companies to set up an electric car assembly and manufacturing plant by 2023. Speaking during the MoU signing ceremony in Abuja, NASENI’s Executive Vice Chairman/CEO, Prof. Mohammed Haruna, explained that the signing of the […]
The National Bureau of Statistics (NBS), Nigeria’s national statistical system coordinating agency, has reported that the nation’s gross domestic product (GDP) grew by 3.54% year-on-year in real terms in the second quarter of 2022. According to the ‘Nigerian Gross Domestic Product Report Q2 2022’ published by the Bureau on Friday, Q2 growth rate represented an […]
The Manufacturers Association of Nigeria (MAN) has appealed to the Central Bank of Nigeria (CBN) to allocate more foreign exchange (Forex) to manufacturing companies to support their importation of raw materials and machinery. The chairman of MAN, Edo/Delta branch, Dr. Okwara Udensi, gave the charge on Thursday in his address at the 36th Annual General […]