Category: Business
The Senior Special Assistant to the Vice President on Media and Publicity, Laolu Akande, on Sunday described Nigeria’s prompt exit from recession as a key indicator of the success of the ongoing Economic Sustainability Plan approved by the Federal Government. He said Nigerians should expect more as the implementation of the plan was gathering momentum. […]
Over 1,650 workers of the National Engineering and Technical Company, a major contractor to ExxonMobil, on Sunday besieged the oil company’s premises over alleged non-payment of their entitlements. The protesting workers’s spokesperson Mr Udeme Bassey told newsmen in Ibeno LGA that they would not leave the premises until their demands were met. “We will stay […]
Following a surge in bitcoin price, social media has created a buzz around the most popular cryptocurrency, pushing it to become one of the most searched words on google search engine of late. The bull run in bitcoin price has increased the public interest in bitcoin despite the several warnings coming from Central Banks around […]
The Debt Management Office (DMO) has disclosed that more than $5.83bn foreign loans that have been approved are yet to be received as of December 31, 2020. The loans are from the Export-Import Bank of China, Agence Francaise De Development, International Development Association, European Development Fund and African Development Bank. The loans were agreed between […]
The Board of Berger Paints Nigeria Plc has approved the appointment of Mr Victor Olusegun Adeniji as an Independent Non-Executive Director effective February 16, 2021. According to the information contained in the press statement issued by Ayokunle Ayoko, the Company Secretary, the appointment is subject to the ratification of the Annual General Meeting. Adeniji has almost four […]
Crypto market valuation breached the $1.68 trillion mark overnight before settling around the $1.58 trillion price levels. It was another big day for many crypto watchers in the crypto-verse, as the crypto market broke record levels. Crypto market valuation breached the $1.68 trillion mark overnight before settling around $1.58 trillion price levels. Hence, the global […]
The alliance pairs Coin Metrics’ full-suite of institutional data products and infrastructure with KPMG Chain Fusion. Leading audit, tax and advisory firm, KPMG, recently disclosed that it has created a suite of tools built in to support both fintech startups and traditional financial institutions that provide tightly managed crypto-asset services. KPMG Chain Fusion is designed […]
Technology experts at the ongoing Lagos State Economic Summit, Ehingbeti, have stressed the need for governments to maintain policy consistency for technological innovations to drive development as Nigeria is gradually adjusting to the realities of the fourth industrial revolution. This, according to them, would unleash innovation in a sustainable way and free the sector, which […]
Between January and September 2020, 11 banks listed on the Nigerian Stock Exchange (NSE) generated a total of N42.8billion or N4.7 billion monthly, from account maintenance fees charged on their customers’ accounts. The amount generated in 2020 represents a drop of 28 percent, when compared to N59.5billion, earned in the same period. The drop no […]
The Central Bank of Nigeria (CBN) in the first half ended June 2020, injected a cumulative sum of $10.31 billion to cushion demand pressures and ensure exchange rate stability in the Foreign Exchange (FX) market. This indicates a 21.7 percent increase from the $ 8.47billion in the corresponding period of 2019. CBN disclosed this in its […]
The number of millionaires have increased, thanks to Bitcoin, following the surge in the most popular cryptocurrency, which started in mid-December 2020. The increase in bitcoin valuation from Q4 2020 pushed large holders into the millionaire zone. Ripples Nigeria gathered from Glassnode that the number of holders (institutional investors or high networth individuals) with $1 […]
Bitcoin finally surpassed the $50,000 mark after several weeks. The surge in Bitcoin valuation is the first time in recent months that it will rise without a push from a prominent investor or company. However, Bitcoin was unable to maintain the surge, as it dropped from $50,584.85, and currently trade for $48,657.21, according to Coindesk […]
Some relief may soon come the way of residents in traffic-prone Lagos State who continue to lose man-hours to road congestion across cities in the state. According to Lagos State Governor, Babajide Sanwo-olu, the state will soon be home to metro lines which will cut travel time of motorists. While the state government didn’t reveal the […]
Fuel marketers have started adjusting their petrol pump prices amid the supply shortage facing private depots in Apapa. Our correspondent observed that some filling stations in Lagos and Ogun states increased the pump price of petrol to N170 per litre on Tuesday from N162 per litre. Some of the stations were Capital Oil and Gas, […]
Economic analysts on Tuesday said the continued rise in the rate of inflation across the country showed that the fight against inflation by the Central Bank of Nigeria was failing. Experts in firms such as the Financial Derivatives Company Limited and Cordros Group, both renowned financial services organisations, stated that the rise in Nigeria’s rate […]
