Alleged fraud: CBN denies suspending OPAY, PALMPAY accounts
The Central Bank of Nigeria (CBN) has made clarification on viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY.
GAC boss seeks policy to boost purchase of new cars by Nigerians
By Obas Esiedesa, Abuja The Chairman of GAC Motors, Diana Chen, has urged the Federal Government to develop policies that would encourage Nigerians to purchase brand new vehicles rather than the current reliance on imported fairly used ones. Chen, who stated this in Abuja yesterday at the opening of its G-Style Showroom and unveiling of its […]
Rainoil calls for optimal utilisation of gas to achieve energy security, equity
The Executive Director, Rainoil Limited, Mr. Emmanuel Omuojine, has said the optimal utilisation of gas is the guarantee to acvhieving energy security and equity in Africa.
Nigeria’s economy maintains nine-quarter consecutive growth — CBN
The Central Bank of Nigeria (CBN), says the Nigerian economy has maintained a positive growth trajectory for nine consecutive quarters, since exiting the recession in 2020.
Experts canvass for smart meters to improve electricity distribution, revenue generation
Energy experts have warned on the need to use Smart Metering to improve electricity distribution and revenue generation across the country.
Petrol price increased by 54.76% per litre in one year – NBS
The National Bureau of Statistics says the average retail price of a litre of the Premium Motor Spirit, popularly known as petrol, increased by 54.76 per cent from N170.42 in February 2022 to N263.76 in February 2023. It made the declaration in its Petrol Price Watch for February 2023 released in Abuja on Tuesday. It […]
Just in: CBN raises interest rate to 18%
The Monetary Policy Committee of the Central Bank of Nigeria has voted to increase the benchmark interest rate by 50 basis points to 18. per cent.
Nigerian investors lose N16bn in stock market
Nigerian equities, yesterday, opened the week, extending its losing streak for the seventh consecutive session as investors’ investment declined by N16 billion.
AXA Mansard empowers female entrepreneurs with digital marketing skills
By Rosemary Iwunze As part of its continued effort to increase opportunities for women, accelerate their participation in economic activities and encourage digital equity, AXA Mansard, a member of AXA, a global leader in insurance and asset management, has empowered over 100 young female entrepreneurs with digital marketing skills in Lagos. The Chief Customer and Marketing […]
FCMB completes N20.686bn bonds
The FCMB Group Plc has successfully completed the issuance of a N20,686,000,000 Perpetual 16% Fixed Rate Resettable NC5.25 Additional Tier I Capital Subordinated Bonds (AT1) under its N300,000,000,000 Debt Issuance Programme.
Banks’ borrowing from CBN falls 14% to N453.7bn
Banks’ borrowings from the Central Bank of Nigeria (CBN) Standing Lending Facility (SLF) fell month-on-month (MoM) by 14 percent to N453.7 billion in February from N528.15 billion in January 2023.
Vanguard findings from the CBN’s Financial Data for January and February 2023, however, showed that banks’ deposits in the apex bank’s Standing Deposit Facility, SDF, rose by same margin (14 percent) to N668.86 billion in February 2023 from N584.79 billion in January 2023
