The World Bank on Thursday approved the Nigeria State Action on Business Enabling Reforms (SABER) Program-for-Results. The $750 million International Development Association (IDA) credit will help Nigeria accelerate the implementation of critical actions that will improve the business enabling environment in states. Nigeria has made progress in advancing reforms to eliminate constraints in the business […]
The FCT Police Commissioner, Mr Babaji Sunday on Thursday September 29 sent 20 policemen to enforce the Court of Appeal judgement that reinstated members of the ‘’Incorporated Trustees of Apo XK Extension Residents Association’’ titles to over 400 plots of land. The policemen accompanied about seven bailiffs from the FCT High Court to serve the […]
The Federal Government has commended the board and management of Development Bank of Nigeria (DBN) for its sustained funding interventions in the real sector of the economy over the years and charged the development finance institution to focus more on Small and Medium Enterprises (SMEs) in view of the sub-sector’s criticality to the nation’s Gross […]
The Securities and Exchange Commission (SEC) Nigeria has indicated that plans are going on to release a new guideline on Shariah Advisory Services for non-interest capital market products and services. The commission disclosed that the latest regulatory guideline had become imperative since Shariah governance is crucial considering that compliance with Shariah rules and principles is […]
The Naira depreciated again early Thursday at the parallel market, trading at N730/$1 which represented 0.69% depreciation compared to the N725/$1 it traded the preceding day. According to information obtained from black market traders, some confirmed that they sold at N735/$1 having bought at the exchange rate of N730/$1 as dollar scarcity continues to weaken the […]
The Nigerian Communications Commission’s Computer Security Incident Response Team (NCC-CSIRT), following several vendor vulnerabilities confirmation by Lenovo in some of its products, has rated the probability of the vulnerability as high with an equally of high damage potential and, therefore, urged users of affected products to update their firmware. The NCC-CSIRT’s advisory came a barely […]
The Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said that Nigeria’s oil and gas sector attracted over $60 billion Foreign Direct Investment (FDI) in the past 12 years, following the enactment and implementation of the Local Content Act. Wabote, who gave this figure in an interview […]
The Association of Small Business Owners of Nigeria (ASBON) has reiterated the need for its participation and representation at all levels of Federal Government’s decision and policy making processes as they relate to the nation’s real sector. The National President of the association, Dr. Femi Egbesola, made this demand on Tuesday during the launch of […]
The Naira depreciated further early Tuesday morning at the parallel market, exchanging at N722/$1, representing a depreciation of 1.26% from N713/$1 it traded on Monday. Information obtained from black market traders on the trading trend by our correspondent, indicated that the Nigerian currency, however, recorded an appreciation of 0.84% at the cryptocurrency peer-to-peer (P2P) FX […]
The Central Bank of Nigeria’s (CBN’s) Monetary Policy Committee members on Tuesday unanimously voted to increase the benchmark interest rate (Monetary Policy Rate) by 150 basis points from 14% to 15.5%. The 15.5% benchmark rate set by the committee, which ostensibly was informed by the apex bank’s sustained measures to tackle the rising inflation in […]