By Prince Okafor Nigeria’s indigenous integrated energy company, Eterna Plc, has stated its commitment to make solid investment in Liquefied Petroleum Gas, LPG, space and incrementally set up necessary infrastructure for market penetration. The company also plans to grow its retail footprints in the country as part of its effort to provide energy solutions in […]

By Peter Egwuatu Naira exchange rate volatility despite the interventions by the Central Bank of Nigeria (CBN) is being compounded by rising inflation, interest rate hike and slow economic growth with consequences for middle and low-income earners, President, Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji (Dr) Aminu Gwadabe has said.Speaking in Lagos […]

The Naira on Friday appreciated at the Investors and Exporters window, exchanging at N420.12 to the dollar, a 0.01 appreciation against N420.17 traded on Thursday. The open indicative rate closed at N419.79 to the dollar on Friday. An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before […]

By Peter Egwuatu The total value of domestic and foreign transactions on Nigerian Exchange Limited (NGX) in the first five months of this year, January to May 2022 amounted to N1.506 trillion, representing 61.3 percent increase over the N933.65 billion recorded in the corresponding period of 2021. The Domestic and Foreign Portfolio Investment (FPI) in […]

By Cynthia Alo Total Pension Fund assets of the Contributory Pension Scheme, CPS, increased by 0.71 percent Month-on-Month, MoM, to N14.2 trillion in May 2022 from N14.1 trillion recorded in April 2022. According to the monthly report released recently by the National Pension Commission (PenCom), total Retirement Savings Account (RSA) registration increased by 0.3 per […]

By Peter Egwuatu Shareholders of Champion Breweries Plc , have applauded the Company’s financial performance for the year ended March 31, 2021, as it recorded growth of 313.9 per cent in its Profit Before Tax, PBT to N1.73 billion from N418 billion in the corresponding period of 2020. The Company also recorded positive growth in […]

The Naira on Wednesday depreciated at the Investors and Exporters window, exchanging at N420.50 to the dollar, a 0.05 depreciation against N420.27 traded on Tuesday. The open indicative rate closed at N419.46 to the dollar on Wednesday. An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before […]

•Wheat, palm oil dominate imports By Elizabeth Adegbesan Despite the various public policies and investment supports to the agricultural sector over the years, there are indications that the sector is still much non-performing. A report by the National Bureau of Statistics, NBS, has indicated that agricultural imports stood at N443.36 billion in the first quarter […]

By Babajide Komolafe Investment in the FGN Savings Bonds rose by 53 per cent, year-on-year, YoY, to N7.5 trillion in the first half of the year (H1’22), from N4.9 trillion in the corresponding period of last year (H1’21). Financial Vanguard analysis showed that the sharp increase in investors’ patronage for FSB in H1 ‘2022 is […]

By Babajide Komolafe, Economy Editor After operating for over 128 years with awards and recognitions to show for its commitments and accomplishments in banking, corporate philanthropy, socio-economic development, support to businesses and commercial activities, FirstBank is showing no signs of stopping or slowing down. In the first five months of this year, First Bank of […]

lAs equities skyrocket 1,901% to N1.1trn lHigher interest rates to return – Analysts By Peter Egwuatu The Nigerian financial market has recorded a major shift as the Federal Government and companies pull back from bonds segment of the market while equities market record a major rebound. The value of government securities listed on the Nigerian […]

In its operations since 2017, the Development Bank of Nigeria (DBN) has provided the Micro, Small and Medium Enterprises (MSMEs) sub-sector stable long-term financing window. The Managing Director, Mr. Tony Okpanachi, told senior business journalists in Abuja, at an interactive session, that his organization has channeled over N482 billion to operators in the sub-sector with […]

By Emma Ujah The President of Arab Republic of Egypt, Mr. Abdel-Fattah El-Sisi, has told leaders of African countries bugged down by insecurity and political instability to forget Foreign Direct Investments, FDIs. Addressing the on-going 2022 Annual Meetings of the African Export-Import Bank (Afreximbank), in Cairo, Egypt, yesterday, El-Sisi said no investor would invest in […]

By Victor Ahiuma-Young THE Deputy Majority leader, House of Representatives, Peter Akpatason, has called on the Federal Government to bring full weight of the law and security agencies on oil theft and pipeline vandals, warning that their activities are seriously bleeding the nation’s economy. Akpatason, who is a former President of Nigeria Union of Petroleum […]

By Babajide Komolafe The Bankers Committee, led by the Central Bank of Nigeria, CBN, the Nigeria Port Authority, NPA, and the Nigeria Customs Service, NCS, have resolved to form a working group to identify and implement measures to address constraints to non-oil exports. This was one of the highlights of the maiden edition of the […]