Business
Unemployment: Expert urge Nigerian youth to be innovative
The Chief Executive Officer of Baobab Plus Nigeria, Mr. Kolawole Osinowo, has called on Nigerian youth to acquire essential skills that would help them develop innovative mindset for growth. He said this in a keynote at a Seminar to mark the International Youth Day organized by the Institute of Industrial Development, IID, with the theme: […]
Access Bank, Qatar Airways extend discounted fares on flight till Dec 2024
In efforts to further ease financial barriers to air travel, Qatar Airlines has extended its discount partnership deal with Access Bank till December 2024. The deal involves up to 12% discount on both business and economy class tickets purchase by Access Bank customers who book their flights online using Qatar Airways’ website. Access Bank customers, […]
Naira depreciates to N1,610/$ in official market
The Naira yesterday depreciated to N1,610 per dollar in the parallel market from N1,600 per dollar last week Friday. Similarly, the Naira yesterday depreciated to N1,596.6 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1596.6 per dollar from N1,570.14 per […]
Togo, Benin owe Nigeria $14m for electricity – FG
None of the four international bilateral customers being supplied by the power generation companies in the Nigerian electricity supply industry made payment against the cumulative invoice of $14.19m issued by the market operator for services rendered in the first quarter of 2024. The Nigerian Electricity Regulatory Commission revealed this in a report sighted by our […]
NNPCL postpones P’Harcourt refinery kick-off sixth time
The Port Harcourt Refining Company, a refinery under the management of the Nigerian National Petroleum Company Limited in Rivers State, has again failed to commence operations after about six postponements, The PUNCH reports. It was observed that promises made to Nigerians by the Federal Ministry of Petroleum Resources and NNPC about the refinery have continued […]
CBN Increases Interest Rate To 26.75% Amid Rising Inflation, Hardship
The Central Bank of Nigeria, CBN, has increased the country’s Monetary Policy Rate (MPR), which is also known as interest rate from 26.25% to 26.75% The Monetary Policy Rate measures interest rates by 50 basis points. The apex bank announced the MPR increment amid sustained rising inflation and skyrocketing food prices and scorching hardship. The […]
CBN announces fresh guidelines on dormant accounts, unclaimed balances in Nigerian banks
The Central Bank of Nigeria, CBN, has directed all banks and other financial institutions in the country to transfer all dormant accounts and unclaimed balances and other financial assets to its dedicated account. The apex bank disclosed this on Friday in a guideline on the management of dormant accounts, unclaimed balances signed by its acting […]
9mobile appoints new CEO
Emerging Markets Telecommunication Services Limited (EMTS), operating as 9mobile, has announced the appointment of Obafemi Banigbe as its Chief Executive Officer. This strategic move is part of the company’s broader plan to embark on a new phase of business transformation, Nigeria’s fourth biggest telecom operator by market share said in a statement to The PUNCH […]
CBN to implement more policies to tackle cybersecurity challenges
The Central Bank of Nigeria (CBN) says it will continue to implement more policies to tackle cybersecurity challenges and foster innovation to ensure the stability and integrity of the financial system. The deputy governor of financial systems stability at CBN, Philip Ikeazor, said this during a two-day Financial Institutions Training Centre (FITC) Fintech Conference held […]
BREAKING: Otedola buys fresh 2.22% shares as stakes in FBN Holdings hit 11.63%
Femi Otedola, billionaire businessman and chairman of FBN Holdings, has acquired an additional 2.22 percent shares in the First Bank of Nigeria The acquisition was disclosed in a corporate filing on the Nigerian Exchange Group (NGX) on Monday. The fresh acquisition further cements the billionaire’s control of the company as his shareholding has now reached […]