Naira sustains recovery at N746/$ in official market The naira on Thursday recorded a massive gain of N36 to close at N746/$ in the Investors and Exporters (I&E) window– official market. Thursday’s rebound showed two-day straight gain in the official market over improved liquidity and transaction activities. The local currency[Read More…]
DSS Charges suspended CBN governor, Emefiele to court The Department of State Services (DSS) on Thursday said it has dragged embattled Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele to court. DSS PRO, Peter Afunanya disclosed this in a release on Thursday, July 13, 2023. The[Read More…]
Dangote Cement Increases Capacity With New Plants In Nigeria, Cote d’Ivoire & Ghana Dangote Cement has concluded plans to expand its production capacity through the construction of a new 6Mt integrated cement plant in Itori, Ogun State. According to the Group Managing Director, of Dangote Cement, Mr.[Read More…]
World Bank picks Ogunbiyi, 14 others to drive private sector investment Chief Executive Officer of Sustainable Energy for All, Damilola Ogunbiyi, is one of the 15 chief executive officers (CEOs) and chairs to join the Private Sector Investment Lab. According to a statement by the Bank, the Lab’s core[Read More…]
AfDB backs Tinubu over forex rate Unification African Development Bank (AfDB) yesterday in Abuja commended the President Tinubu administration for unifying the naira exchange rate saying it would breath air of transparency into the foreign exchange (forex) market. Its President, Dr Akinwumi Adesina, spoke in Abuja at the 2nd Edition[Read More…]
Geometric Power Plant set to add 188MW to national grid Geometric Power Plant in Aba, Abia State, is set to add 188 megawatts (MW) to the national grid in the next two months. The Group Chairman, Geometric Power, Prof. Barth Nnaji, who is also a former Minister of Power, disclosed[Read More…]
Tinubu emerges ECOWAS chairman President Bola Tinubu emerged as the new chairman of the Economic Community of West African States (ECOWAS). Tinubu was elected chairman at the 63rd Ordinary Session of the Authority of Heads of State and Government on Sunday in Bissau, Guinea-Bissau. President Tinubu, who is the latest[Read More…]
Customs moves to decongest seaports The acting Comptroller-General of Customs, Bashir Adewale Adeniyi, has expressed his determination to immediately move to decongest Nigerian seaports. Adeniyi, who disclosed this during a meeting with the Federal Ministry of Transportation in Abuja, said that the Nigeria Customs Service (NCS) would face the[Read More…]
Polaris Bank partners Eventful Limited to host 2023 Fashion Soul …. showcasing Nigeria’s Vibrant Fashion Industry Polaris Bank, Nigeria’s leading Digital Retail Bank, is partnering Eventful Limited to host the 2023 edition of The Fashion Souk scheduled to hold at Harbour Point facility on Victoria Island, Lagos from[Read More…]
CBN warns banks over Russia, Iran, Cameroon transactions The Central Bank of Nigeria (CBN) has warned Deposit Money Banks (DMBs) and Other Financial Institutions (OFIs) in the country to be wary of transactions with businesses and persons in the Russian Federation, the Democratic People’s Republic of Korea, Iran and Cameroon.[Read More…]
