Tinubu directs NELFUND to extend students loan scheme President Bola Tinubu has directed the management of the Nigeria Education Loan Fund (NELFUND) to expand its focus area by extending interest-free loans to Nigerian students interested in skill-development programmes. The President issued this directive at the State House on Monday after[Read More…]
FG wants $1.5b World Bank Loan to support Naira The Federal Government of Nigeria is seeking a new $1.5 billion loan from the World Bank to support naira exchange value. The loan if given will raise the country’s debt to $115.85 billion, having piled up in the Muhammadu Buhari years[Read More…]
Dangote Cement hits N10tn capitalisation on NGX Dangote cement’s share price gained 53.9% last week. The stock sold at N350 per share. By the close of business on Monday, it reached N592 The market capitalisation of Dangote Cement hit N10tn at the close of trading on Monday, emerging[Read More…]
NNPCL to pay royalties, taxes from $3.3bn Afrexim loan The Nigerian National Petroleum Company Limited, on Sunday, said it would prepay future royalties and taxes to the Federal Government from the $3.3bn financing deal it got from African Export-Import Bank last year. NNPCL disclosed this in a document[Read More…]
NEPC, SMEDAN Partners to Enhance Exports for Nigerian SMEs The Nigerian Export Promotion Council (NEPC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) is set to partner and enhance export for Nigerian SMEs. The union disclosed that the move will streamline trade facilitation and enhance[Read More…]
Unilever Appoints Michael Ikpoki As Interim Chairman After Achebe’s Retirement The Board of Unilever Nigeria Plc has announced the appointment of Mr. Michael Ikpoki as the interim Chairman of the company, filling the position left vacant by the retirement of His Majesty, Nnaemeka A Achebe, Obi of Onitsha. The[Read More…]
Access Bank To Acquire Majority Stake In Ugandan Bank Access Holdings Plc has announced that its flagship subsidiary, Access Bank Plc has entered into a definitive agreement with the Ugandan-based Finance Trust Bank Limited, FTB and its Selling Institutional Shareholders, for the acquisition of a majority equity stake in[Read More…]
CBN to sanction FX market regulations for Gross Violations The Central Bank of Nigeria (CBN), on Wednesday, said it found grave infractions, gross abuse and significant non-compliance with market regulations by operators in the foreign exchange segment. As a result, the apex bank vowed it would punish those responsible[Read More…]
FG to pay N1.6trn electricity subsidy in 2024, as NERC approves new tariffs for DisCos The Nigerian Electricity Regulatory Commission (NERC) has approved new electricity tariffs for the 11 distribution companies (DisCos) in the country, with effect from January 1, 2024. NERC’s chairman, Sanusi Garba, made this known on[Read More…]
Nigeria stock market emerges world’s best, beats Argentina Nigeria Stock Market has emerged world best, beating Argentina, a country it was trailing last week. The Nigerian Exchange Limited (NGX) All Share Index (ASI) experienced a 2.38 percent surge on Wednesday, surpassing the 90,000 mark as bullish momentum dominated trading.[Read More…]
