Business

Banks awash with excess cash amidst poverty

Banks awash with excess cash amidst poverty

•As banking system liquidity surges 17% to N5.5trn By Elizabeth Adegbesan Amidst prevalent poverty in the country, Nigeria’s financial sector experienced a major injection of cash as the average net liquidity in the banking system surged to N5.53 trillion in May 2026. This represents a 17.16 per cent increase from the N4.72 trillion recorded previous […]
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10 years of democracy: Money from BASA will be used for airport infrastructure – Iyal

10 years of democracy: Money from BASA will be used for airport infrastructure – Iyal

By Kenneth Ehigiator Capt. Shehu Usman Iyal is the Senior Special Assistant to the president on Aviation.  In this interview, he x-rays the journey so far in the aviation sector in the 10 years of the nation’s democratic march, especially in the last two years of President Umaru Yar’ Adua’s administration.  He said money realised […]

No rigs operating onshore Nigeria

No rigs operating onshore Nigeria

INVESTIGATIONS have confirmed that there are no rig operating onshore Nigeria at the moment, while only 20 are operating offshore, underscoring a steep decline compared to same period last year when more rigs were operational.
It was gathered that of the 20 active rigs offshore, one is a jack-up rig operating in swamp, while the rest are operating in safer shallow and deep water

Investors lose N138bn on NSE

Investors lose N138bn on NSE

By  Michael Eboh & Chinedu Ibeabuchi THERE was reversal of   fortunes in the Nigerian capital market last week, as investors lost N138.3 billion on their investment in the Nigerian Stock Exchange (NSE).

Standard Chartered Bank seeks closer ties with SMEs

Standard Chartered Bank seeks closer ties with SMEs

IN its determined effort to spur the growth of the Nigerian economy , Standard Chartered Bank has indicated interest to partner with the Small and Medium Enterprises (SMEs) to make them vibrant and competitive in the international market.