The Naira has failed to appreciate as the United States dollar sells for N500+ with traders and experts calling on the federal government to take urgent actions in saving the economy from total collapse. As the prices of crude oil keep rising in the international market, there were expectations that the naira will appreciate, but […]Read More
The International Finance Corporation (IFC) is supporting OCP, an international phosphate mining and leading global fertilizer group to improve food supply in Nigeria and others countries as part of efforts towards achieving sustainable food systems. IFC signed a milestone financing agreement with OCP. IFC — a member of the World Bank Group and the largest […]Read More
Banks credit to Nigeria’s private sector increased by N1.29 trillion in the first quarter of 2021 to stand at N31.44 trillion. This is according to data obtained from the Central Bank of Nigeria (CBN). This is in line with the CBN’s continued effort to compel Banks to boost their credit to the real sector of […]Read More
Securities and Exchange Commission (SEC) has stated that it recognizes the importance of digital platforms for democratizing access to capital market products and services for greater financial inclusion in the capital market. This was stated by Lamido Yuguda, director general, SEC, who was represented by Reginald Karawusa, executive commissioner, Legal and Enforcement, at a webinar […]Read More
The Managing Director of Polaris Bank, Mr. Innocent Ike, has said that the bank has refunded the $300 million lodged with the bank by the Nigerian National Petroleum Corporation (NNPC) in 2012.Ike said this while appearing before the House of Representaives ad hoc committee on assessment and status of all recovered loots from 2002-2020. He […]Read More
The Federal Accounts Allocation Committee (FAAC) on Wednesday said it shared a total of N605.958 billion as May 2021 revenue to the Federal, States and Local Governments as well as other relevant agencies. Mr. Charles Nwodo, Director, Information, Ministry of Finance, Budget and National Planning, in a statement in Abuja, said the amount was shared […]Read More
Bitcoin plummeted below $30,000 for the first time in six months, only to rebound to the $34,000 trading zone. The decline in Bitcoin’s price came as a result of China’s intense crackdown on cryptocurrencies and cryptocurrency mining. The intense regulatory crackdown by Chinese authorities caused a lot of FUD (Fear Uncertainty and Doubt) in the […]Read More
Investment analysts say yields on Nigeria Treasury bills will inch higher this week as the fixed income market exhibits a quiet outturn on the expectation of investors’ sizeable selloffs while positioning to satisfy funding requirements. Overall, fixed income space exhibited quiet trading outing in the past weeks as investors scrambled for a higher return on […]Read More
The naira yesterday depreciated to N500/$1 after recording marginal gain against the greenback at the weekend.The naira closed last week at N498/$1, N2 weaker than current position of the local currency.Also, foreign exchange (forex) reserves have dropped to $33.79 billion as at June 17. The fall in reserves to current position followed continued rise in […]Read More
The most popular crypto asset, Bitcoin came under intense selling pressure thanks to the upcoming unlock of Grayscale’s 16,000 Bitcoin, the biggest single unlocking event which will flush the fragile market with so much liquidity, and then of course, a continual crackdown on miners by China. Present price patterns further reveal a significant number of […]Read More
Sterling Bank has called for monetization of intellectual property of creators in the creative industry. Mr Lanre Olalusi, head of Creative and Entertainment Business Financing of the Bank, made this remark while addressing participants at the 2021 edition of Legends of Nollywood Awards held in Lagos recently. “We have realised that this sector is crucial […]Read More
The Corporate Affairs Commission (CAC) has denied claims of alleged N6.542 billion fraud and other allegations by the Nigeria Labour Congress (NLC). A statement by the Director, Public Affairs, Duke Ukaga, traced the reported allegations to ‘figment of imagination’ of the Amalgamated Union of Public Corporation, Civil Service Technical and Recreational Services Employees (AUPCTRE) which […]Read More
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