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NSIA posts over ₦1.18trn revenue growth for 2023
The Nigeria Sovereign Investment Authority (NSIA) has announced its audited results for 2023 financial year, posting a recorded 11 consecutive years of positive earnings with a cumulative annual growth rate of 117.3 percent.
The!-->!-->!-->…
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JUST IN: CBN introduces new minimum capital base for banks
The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion.
A circular signed by the Director,!-->!-->!-->…
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Naira on steady recovery, gains further by 1.8% against dollar
The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday.
Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent,!-->!-->!-->…
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CBN increases inter-bank interest rate by 200 basis points to 24.75%
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) raised Monetary Policy Rate (MPR) – inter-bank loan interest rate – by 200 basis points, to 24.75 per cent from 22.75 per cent on Tuesday.
MPR is a short-term,!-->!-->!-->…
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ALERT: ‘Avoid use of Boeing 737 planes; it’s risky’
Itse Sagay, a Senior Advocate of Nigeria (SAN), has warned the federal government against not using Boeing Max planes for Nigeria’s official carrier — Nigeria Air — because of its history of deadly crashes, TheCable reports.
Sagay,!-->!-->!-->…
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Addressing inflation requires more than monetary policy, says MPC member
A member of the Central Bank of Nigeria's Monetary Policy Committee (MPC), Prof. Murtala Sagagi, has highlighted the complex nature of Nigeria’s inflation challenges.
Sagagi said mere monetary policy readjustments will have a limited!-->!-->!-->…
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FG reiterates plan to boost power supply to 6,500MW in six months
The Minister of Power, Adebayo Adelabu, has reiterated the Federal Government’s plan to raise electricity generation from 3,500 Megawatts (MW) to 6,500MW within the next three to six months.
Adelabu who was on a working visit to various!-->!-->!-->…
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JUST IN: CBN clears $7bn forex backlogs
The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of $7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo.
This was contained in a statement on Wednesday,!-->!-->!-->…
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How Kano, six other states spend N28.3bn on Ramadan feeding – Report
As Ramadan fast progresses, seven states of the federation have budgeted over N28.3 billion to feed residents during the period, figures released by the states and put together by Daily Trust revealed.
The states include Katsina,!-->!-->!-->…
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Zenith Bank announces first female GMD/CEO
Zenith Bank Plc, one of Nigeria’s largest banks, has announced Dame (Dr.) Adaora Umeoji as its new Group Managing Director/Chief Executive Officer (GMD/CEO).
She replaces Dr. Ebenezer Onyeagwu whose 5 year tenure as GMD/CEO has elapsed.!-->!-->!-->…
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