Latest Nigeria Business News
The inflation rate in Nigeria declined for the sixth consecutive month to 16.63 per cent in September, its lowest level since January this year, according to the National Bureau of Statistics. The NBS, in its Consumer Price Index released on Friday, said the inflation rate fell by 0.38 per cent from 17.01 per cent in […]
The United Kingdom Prime Minister’s Envoy to Nigeria, Helen Grant and Nigeria’s Minister of Industry Trade and Investment, Mr. Adeniyi Adebayo, held the sixth bi-annual sitting of the UK-Nigeria Economic Development Forum (EDF), reiterating commitment to a partnership based on mutual economic benefit that will increase Foreign Direct Investment (FDI) in non-oil sector in Nigeria. […]
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the Federal Government will ensure the payment of foreign debts before settling other obligations. Emefiele said this while answering questions during a press briefing at the ongoing International Monetary Fund/World Bank Annual Meetings in Washington DC. He said, “We have ensured that […]
The value of the naira fell further by 1.68 per cent against the dollar at the official market on Thursday. At the Investor & Exporter foreign exchange window, the local currency opened at 413.15/$1 on Thursday but closed at 422.07/$1. The naira had depreciated by 0.19 per cent to 415.10/$1 on Wednesday after closing at […]
The House of Representatives has mandated its Committee on Customs and Excise; Finance; Banking and Currency to invite Governor of the Central Bank of Nigeria, Godwin Emefiele; Controller-General of the Nigeria Customs Service, Col. Hameed Ali (retd.); and Minister of Finance, Budget and National Planning, Zainab Ahmed over the controversy surrounding the e-Customs project. The […]
The Central Bank of Nigeria (CBN), has announced that it has through three commercial banks financed railway infrastructure in Lagos to the tune of N6 billion. This, the central bank stated, is in a bid to support infrastructure development and create jobs. The banks, the CBN said are; Access Bank Plc, Sterling Bank Plc and […]
The Nigerian Exchange Group Plc (NGX Group) has received approval from Nigerian Exchange Limited (NGX) to list its shares on the main board of NGX today. NGX Group will undergo a Listing by Introduction with 1,964,115,918 shares admitted to trading under the ticker, NGXGROUP. In light of the foregoing, the register of members of the […]
The Securities and Exchange Commission announced on Wednesday that it had engaged the staff of the Economic and Financial Crimes Commission on capital market training in a bid to tackle financial crimes in the market. SEC described the training, tagged ‘Enlightenment programme on the capital market and the investigation of capital market complaints,’ as one […]
The Senate on Wednesday summoned the accounting officers of seven federal ministries, departments and agencies over their failure to defend their input in the N5.01tn loans proposed to fund the 2022 budget deficits. President of the Senate, Ahmad Lawan, decried the non-appearance of the affected MDAs before the Senate Committee on Loans and Foreign Debts. […]
The Managing Director, First Bank of Nigeria Limited, Dr. Adesola Adeduntan, has reiterated the commitment of the bank to continue supporting start-ups and innovators in the Fintech space by providing relevant data and infrastructure to enable them scale appropriately. Adeduntan made the disclosure at a virtual meeting on the bank’s FinTech Summit 5.0 event with […]