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 […]

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.

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.

Energy experts have warned on the need to use Smart Metering to improve electricity distribution and revenue generation across the country.

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 […]

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 equities, yesterday, opened the week, extending its losing streak for the seventh consecutive session as investors’ investment declined by N16 billion.

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 […]

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’ 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

Amazon CEO Andy Jassy said Monday he was cutting 9,000 more jobs from the online retail giant’s workforce, following the 18,000 that were axed in January.

. ..Interswitch to represent Nigeria in Monaco By Peter Egwuatu THE Group Managing Director of Interswitch, Mr Mitchell Elegbe and Founder/Chief Analyst, Nairametrics Financial Advocate Limited,Mr  Ugodre Obi-Chukwu, have won the Ernst & Young, EY Entrepreneur of the Year Awards 2023 West Africa. Elegbe, won the Master Category at the finalists Awards held on Thursday night […]

Selling pressure and profit  taking characterised the equities market last week as investors continued to realign portfolios ahead of the Central Bank of Nigeria, CBN’s, Monetary Policy Committee, MPC, meeting which will commence today.

By Babajide Komolafe, Economy Editor; Peter Egwuatu, Asst. Business Editor and Elizabeth Adegbesan

As the compliance by the financial sector regulators and operators with the Supreme Court ruling on cash policy of the Central Bank of Nigeria, CBN, enters its second week, the scarcity of the banknotes appear unabated as multiple pressure points in the circulation of both new and old notes emerge.

AS the Federal Government of President Muhammadu Buhari approaches the twilight of his administration, more sectoral leaders have been listing economic agendas for the president-elect.

In separate economic blueprints for incoming administration sent to Vanguard, the Manufacturers Association of Nigeria, MAN, and Centre for the Promotion of Private Enterprise (CPPE) both maintain that with the economy in a stumbling and fragile state, “this political transition offers a great opportunity to chart a new course.”