Ekiti state Government in Nigeria has identified infrastructure, agricultural-processing zones, air cargo facilities and a knowledge hub as critical areas that need support from the African Development Bank (AfDB) to help transform the state. The bank said on its website that the request for the support was made by a Nigerian delegation led by Ekiti […]

Prof. Uche Uwaleke, the Chairman of Abuja Chapter of Chartered Institute of Bankers of Nigeria (CIBN), has commended Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, for his commitment to funding Micro, Small and Medium Enterprises (MSMEs). Uwaleke made the commendation in Abuja on Tuesday while reacting to the policy road map reeled […]

The African Development Bank (AfDB) has announced a 40 million euro investment from the European Commission for Facility for Energy Inclusion (FEI), a new platform for financing small-scale renewables in Africa. A statement said the announcement was made to energy sector stakeholders on the sideline of Africa Energy Forum in Lisbon, Portugal. The bank, the […]

The Nigerian Electricity Regulatory Commission (NERC) generated N5,535,581,000 as revenue in last year, The Nation learnt on Monday. The cash includes operating fees on electricity-N10,531,093,000, licenses and fees-N498,931,000; and uncollectible operating fee on electricity-N5,314,443,000. According to NERC Annual Report and Financial Statements – December 31, 2018, which Deloitte & Touche Chartered Accountants audited and signed […]

Analysts at Vetiva Capital Management Limited have said there is a dearth of sustainable catalysts to support the nation’s capital market. Investors in the market lost a total of N78.1bn last week as the market capitalisation of equities listed on the Nigerian Stock Exchange dropped to N13.154bn on Friday from N13.232bn the previous week. The […]

Ecobank Nigeria says it has entered into a strategic partnership with the Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending to provide N15bn funding for agricultural investment schemes. A statement issued by the bank described the funding as the first tranche in its agricultural value chain financing, saying the partnership between both institutions was in line […]

A Federal High Court sitting in Lagos has adjourned to July 22 a case brought by Oando Plc to stop the Securities and Exchange Commission from replacing its chief executive officer and making changes to the management team. SEC’s action followed an investigation where it allegedly found evidence of financial infractions by the company. Oando […]

 The All Commodity group import index decreased by -0.46 per cent between January and March 2019, due to the fall in prices of live animals, animal products, products of chemical and Allied industries, and wood and articles of wood, and wood charcoal. The National Bureau of Statistics stated in its Commodity Price Indices and Terms […]

First Bank of Nigeria Limited says it now has over 27,000 agents on its Firstmonie agent network, as part of efforts to promote financial inclusion in the country. The over 27,000 Firstmonie agents were present in almost all Local Government areas across the country, the bank said in a statement on Monday. In line with […]

The Federal Government of Nigeria has inaugurated the board of the Securities and Exchange Commission four years after it was dissolved. The SEC board was dissolved on July 16, 2015, and the apex capital market regulator had been without a board until this week. The Permanent Secretary, Federal Ministry of Finance, Mr Mahmoud Isa-Dutse, urged […]