Nigeria may have earned over N318bn additionally in February as a result of the increase in crude oil price in the past one month. At the virtual presentation of the 2021 Federal Government approved budget in January, the Minister of Finance, Budget and National Planning, Zainab Ahmed, had stated that Nigeria’s benchmark for crude oil […]

Manufacturing firms borrowed a total of N570bn from Nigerian banks last year amid the economic fallout of the COVID-19 pandemic. Banks’ credit to the manufacturing sector rose to N3.19tn as of December 2020 from N2.62tn at the end of 2019, according to the sectoral analysis of banks’ credit by the Central Bank of Nigeria. The […]

Nduka Chiejina (Assistant Editor) Nigeria and Morocco have agreed to develop $1.4 billion fertilizer plant. The plant is expected to start business in 2025. The US$1.4billion will be invested in building the fertilizer plant and its supporting infrastructure. Under the agreement, the fertilizer plant that will be located in Akwa Ibom state will produce Ammonia […]

By Collins Nweze Cryptocurrency traders yesterday appealed to the Central Bank of Nigeria (CBN) to place a partial suspension on the recent restrictions placed on cryptocurrency transactions in the country. In a report titled: Much Ado About Cryptocurrency- A path to regulated cryptocurrency environment signed by 15 representatives of the Nigerian Tech Industry,  the operators requested that […]

The ECOWAS Bank for Investment and Development (EBID) has signed a €40 million framework agreement with the ODDO BHF Aktiengesellschaft, a Franco-German financial services group with a longstanding track record and expertise in trade financing. The fund would be used to strengthen the prospects for small and medium scale enterprises (SMEs) and industries to enable […]

MTN Nigeria said it has enrolled 37.2 million National Identification Numbers (NINs) for its subscribers in the ongoing exercise of linking the number with the Subscriber Identification Module (SIM) card. The federal government had as at February 1, 2021, put the total figure of NINs received by all mobile network operators, at 56.18 million, up […]

The Central Bank of Nigeria has given another 12-month extension on the discounted interest rate for its intervention facilities. It said that the role-over of the moratorium on the facilities would be considered on a case by case basis It disclosed this in a circular on Wednesday to all banks and other financial institutions titled […]

Indigenous Audio-Visual Systems Integrator and authorised Samsung Electronics solutions partner, Hikari AV Limited is set to deploy 80 Samsung Smart TVs and Samsung Flip 2.0 at Art Hotel. The solution is aimed at improving customers’ lodging and meeting experience. Upon full deployment, Art Hotel will boast of ideal home-away-from-home environment and best in class meeting […]

The Nigerian stock market, which began the month on a positive note, resumed its decline on Tuesday as 26 firms recorded price losses at the end of trading. The Nigerian Stock Exchange All-Share Index had risen by 0.33 per cent after investors on Monday, the first trading day of the month, after February saw investors […]

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the Anchor Borrowers’ Programme of the bank shows the need for all stakeholders to sustain current efforts by the bank to galvanise agricultural production to meet the requirements of Nigeria’s growing population. He said this in Zauro, Kebbi State on Tuesday during […]