Development Bank commences N100b capital raising Development Bank of Nigeria (DBN) Plc at the weekend opened application for the first tranche under its N100 billion capital raising programme. DBN is seeking to raise up to N20 billion bond as the debut issuance under the N100 billion medium term note programme[Read More…]
FG restores immigration documents of Seplat boss Seplat Energy has announced that the working permit, Combined Expatriate Residence Permit and Aliens Card (CERPAC) and other visas for the entry or stay in Nigeria of the company’s Chief Executive Officer (CEO), Roger Brown have been restored by Ministry of Interior and[Read More…]
FG recommences registration for digital money lenders The Federal Government has announced the date to recommence Digital Money Lenders’ registration in Nigeria. The Executive Vice Chairman of the Federal Competition and Consumer Protection Commission [FCCPC] Babatunde Irukera disclosed this in a statement. Irukera noted that the development is coming following[Read More…]
Fuel Subsidy: NEC sets up committee to work out modalities for palliatives Following the removal of fuel Subsidy, the National Economic Council (NEC) has made moves to provide palliatives for workers and vulnerable groups in the country to curtail the impact. The Council at its inaugural meeting in Abuja[Read More…]
CBN abolishes Naira4Dollar Scheme, announces unification of FX windows The Central Bank of Nigeria (CBN) has announced the abolishment of all forex segmentation, meaning there will be a single exchange rate in the country moving forward. It was noted that Nigeria’s multiple FX segments are now collapsed into the[Read More…]
Inventory Finance: The Empowering Ally of Small Businesses in Nigeria By Abang Emenyi Amina, a small grocery store owner in bustling Lagos, Nigeria, is the embodiment of resilience. Her store is an essential hub in her local community, a place where neighbours can find everything from essential food items to[Read More…]
June 19 meeting: We ‘ll push for salary award to lessen effects of subsidy removal,.NLC Nigeria Labour Congress, NLC, has said its priority is to get salary award to cushion the effects of petrol subsidy removal on workers among others. At the ongoing 111th Session of the International Labour[Read More…]
Fitch Affirms Fidelity Bank Ratings with Stable Outlook Fitch Ratings has affirmed Fidelity Bank Plc’s credit rating at ‘B-‘ with a stable outlook, according to its recent report. The global rating agency also upgraded the bank’s National Short-Term Rating to ‘F1+(nga)’ from ‘F1(nga)’. It said the upgrade reflects[Read More…]
Nigeria’s biggest oil pipeline records zero crude loss in May Crude oil production transported through the Trans-Niger Pipeline (TNP) into the Bonny terminal did not record any losses in May, a significant development considering that over 400 illegal connections were removed on the line in April. Analysts say this[Read More…]
Tinubu suspends EFCC chairman, AbdulRasheed Bawa The President, Bola Ahmed Tinubu has suspended the Chairman, Economic and Financial Crimes Commission, AbdulRasheed Bawa, from office. The suspension which is indefinite, is to allow for a thorough investigation into his conduct while in office following weighty allegations of abuse of office[Read More…]
