Category: Business
Telecoms operators have threatened to increase their tariffs over the rising cost of doing business and the safety of telecommunications infrastructure in the country. The Association of Licensed Telecommunication Operators of Nigeria (ALTON) also says it is considering varying tariffs to some ‘unfriendly telecommunications states’ in order to accommodate their demands. ALTON is an association […]
President Muhammadu Buhari, yesterday, commissioned the second tower of the Bank of Industry (BoI) building located in the Central Business District of Abuja, charging the bank to take its developmental strides to the next level through business empowerment. The BoI Tower 2 is a state-of-the-art innovative building with 12 lettable floors, a backup power system. […]
The Federal Executive Council, FEC, on Wednesday in Abuja observed a minute silence in honour of the victims of Abuja-Kaduna train attack. The News Agency of Nigeria reports that the meeting, presided over by President Muhammadu Buhari, began with the Secretary to the Government of the Federation, Boss Mustapha, calling for a minute silence to […]
Governor Charles Soludo of Anambra has submitted a list of 20 Commissioner-nominees to the state House of Assembly for approval. The Speaker of the House, Mr Uche Okafor, announced this at Tuesday’s plenary while reading a letter from Soludo, dated March 28. Okafor said the governor also sent another letter requesting the confirmation of 15 Special […]
Ecobank Nigeria’s operating income dropped by -17 percent to $223 million in 2021. In its Full Year Financial Statements for last year released on Tuesday, the figure was $46 million lower than $269 million recorded in 2020. Ecobank’s Net Interest Income also dropped from $161 million reported in 2020 to $91 million last year. The lender, […]
Justice Iyang Ekwo of the federal high court, Abuja Division, has fixed May 27 to hear a suit against the president over his victory in the 2019 election. Chief Albert Ambrose Owuru, a former presidential candidate had instituted a suit challenging the re-election of President Muhammadu Buhari for a second term of office. In the […]
President Muhammadu Buhari has met with Security Chiefs on Tuesday and gave them new directives. This was disclosed by the State House via it’s Twitter handle, shortly after the meeting with the Chief of Defense Staff, Chief of Army Staff, Chief of Air Force Staff and Inspector General of Police among others. According to the State House, […]
Minister of State Petroleum Resources, Timipre Sylva, has decried the rapid drop in foreign investment flow to Nigeria’s oil and gas sector. He equally decried the speed at which Europe has been pushing back against investment in fossil fuel, stressing that the Russia and Ukraine war has thought the world a big lesson, especially in […]
Access Bank Plc paid a total dividend of N35.5bn for the financial year 2021 to its shareholders, at its 33rd Annual General Meeting in Lagos. The Chairman of the Board of Directors, Dr (Mrs.) Ajoritsedere Awosika, in her opening statement said the bank in 2021 continued to deepen its retail banking business during the year with […]
The Federal Government has stated that the current food inflation which has been plaguing Nigerians is not just a Nigerian issue but a global one, warning that Nigerians comparing figures with that of 2018 are being “clever by half”. This was disclosed in a statement by the Minister of Information, Lai Mohammed in a press conference on […]
Nigeria’s Minister of State for Petroleum Resources, Timipre Sylva, has described the Nigerian government’s controversial subsidy regime as “a criminal enterprise.” Mr Sylva, who lamented the controversies surrounding the amount of petrol that the nation consumes daily, said the subsidy regime encourages criminal activities like smuggling which in turn impact negatively on the nation’s oil resources. […]
Bitcoin is up over 16% in the last 7 trading days, leading the general cryptocurrency rally, with major altcoins like Ethereum, Cardano and Solana gaining over 20% or more. The rally in the market comes after the United States’ Federal Reserve (Fed) began increasing its interest rates. To notes, the U.S. Fed announced that the […]
The Central Bank of Nigeria’s governor, Godwin Emefiele, on Monday said he was focused on strengthening the nation’s economy amid calls by supporters that he should contest for the nation’s topmost office in 2023. Supporters of the governor thronged the APC convention on Saturday where they openly campaigned for Mr Emefiele to be elected Nigeria’s next […]
Naira fell slightly against the U.S. dollar at the official market on Monday, extending the currency’s depreciation to two successive business days. This occurred as the foreign exchange supply skyrocketed significantly. The naira closed at N416.60 to a dollar at the close of business Monday, data published by FMDQ where forex is officially traded showed. This represents […]
Despite the huge debt profile being incurred by the country, the Federal Government has justified the continued borrowing, noting that it is crucial towards financing budget deficits and critical infrastructure. Patience Oniha, the Director-General of the Debt Management Office (DMO), said this in an interview with the News Agency of Nigeria (NAN) on Thursday in […]
