Anambra State Governor, Prof. Chukwuma Charles Soludo, on Thursday banned all motor parks’ unions and market associations from collecting revenue on behalf of the state government. The governor gave this directive at a one-day town hall meeting with the transport and market unions’ executives in Anambra State in a renewed fiscal move to plug leakages […]
The African Development Bank (www.AfDB.org) on 14 June 2022 launched a 19-billion Ugandan shilling (UGX) ($5.07 million) 2-year theme bond, the first-ever African frontier currency-denominated environmental, social and governance (ESG) issuance by a multilateral development institution. The bond, due in June 2024, will be settled in dollars at a fixed coupon of 10.5%. It was […]
The Nigerian Exchange Limited (“NGX”) and Bank of Industry (“BOI”) have signed a Memorandum of Understanding (MoU) to deepen the nation’s capital market penetration, build the capacity of stakeholders through financial literacy programmes, and facilitate market advocacy initiatives and promote listings, amongst other benefits to the economy. The sealing of the pact was done by […]
Fitch Ratings, one of the leading global rating agencies, has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. Fitch also upgraded the bank’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’. According to the rating agency, the upgrade is a result of the Bank’s improving business […]
…eyes National Bank Licence Encouraged by the impressive financial and other operational performance indices recorded since it debuted as a non-interest bank in Nigeria two years ago, the Board and Management of TAJBank Limited on Wednesday highlighted indices to ensure its continuous and sustainable growth in the years ahead. The Managing Director/CEO of the bank, […]
The Group Managing Director (GMD) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, has hinted that over 200 illegal refineries are operating in the country, even as efforts to reactivate government-owned refineries are yet to yield the desired results. Kyari gave this hint when he appeared before the House of Representatives Joint […]
The Minister of Communications and Digital Economy, Prof. Isa Pantami, has pointed out that through diligent implementation of the digital economy agenda, Nigeria has the potential of critical mass of ‘digital natives’ that can transform the country into a regional and global digital powerhouse Pantami, who spoke as the special guest at the commissioning of […]
The Board of Directors of the African Development Fund (ADF) has approved a technical assistance grant of $2 million to fund research that will contribute to electricity reforms in the Economic Community of West African States (ECOWAS). The approved grant, which is the concessional window of the African Development Bank Group (AfDB), will be paid […]
The World Bank Group has reported that despite its devastating impacts on the global economic system, the COVID-19 pandemic encouraged financial inclusion and also led to increase in digital payments globally. The multilateral financial institution gave this hint on Wednesday in its latest Global Findex 2021 database, noting that the expansion creates new economic opportunities […]
The European Union (EU) Ambassador to Nigeria and Economic Community of West African States (ECOWAS), Ms Samuela Isopi, has promised to collaborate with the Federal Government in its ongoing efforts to bridge the nation’s infrastructure gap and tackling the insecurity challenges. Isopi, who gave this hint during a chat with business editors in Lagos, noted […]