By Grace Alegba The Central Bank of Nigeria (CBN) on Thursday directed Bureau De Change (BDCs) operators to sell forex at a maximum profit margin of 1.5 per cent, aiming to correct market distortions. The bank, in a circular signed by Aliyu Mahdi, Acting Director, Trade and Exchange Department, CBN,Continue Reading
By Salisu Sani-Idris Vice-President Kashim Shettima on Thursday emphasised the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda. According to Shettima, this is in line with the commitment of the President Bola Tinubu’s administration to bringing over 30 million unbanked Nigerians into the formal financialContinue Reading
By Salisu Sani-Idris President Bola Tinubu has instructed the Federal Ministry of Solid Minerals Development to only issue mining licenses if they are tied to local value addition. Tinubu gave the directive on Wednesday during the inauguration of the 2024 African Natural Resources & Energy Investment Summit, held in Abuja.Continue Reading
By Salisu Sani-Idris President Bola Tinubu has said that Nigeria attracted over $2 billion investment in the renewable energy sector, making it a fast-growing sector in the economy. Tinubu stated this on Wednesday during the inauguration of the 2024 African Natural Resources & Energy Investment Summit, held at the StateContinue Reading
By Rukayat Moisemhe The Lagos Chamber of Commerce and Industry (LCCI) has urged the Federal Government to develop a comprehensive industrial strategy to attract mineral exploration investments and accelerate new mineral discoveries. LCCI President, Mr Gabriel Idahosa, made the call at the chamber’s state-of-the-economy quarterly news conference heldContinue Reading
By Okeoghene Akubuike The Federal Government says it is committed to the successful conduct of the 7th round of the Multiple Indicator Cluster Survey (MICS)/ National Immunisation Coverage Survey (NICS). Adeyemi Adeniran, Statistician- General of the Federation, said this at the inauguration of the National Steering Committee and National TechnicalContinue Reading
By Abiemwense Moru Dr Haruna Musa, MD/CEO of Jaiz Bank PLC, says the bank is looking forward to Nigeria becoming the centre of Islamic banking in Africa. Musa disclosed this at a send-off ceremony of the retired Board/Advisory Committee of Experts (ACE) members of the bank in Abuja. Continue Reading
By Grace Alegba The Nigeria Deposit Insurance Corporation (NDIC) on Thursday identified adequate collaboration as an essential strategy for curbing insider influence and financial malpractices in banks and other financial institutions. Mr Bello Hassan, Managing Director of NDIC, stated this during the 2024 capacity-building workshop for law enforcement agenciesContinue Reading
By Martha Agas The Minister of Solid Minerals Development, Dr Dele Alake, says the African continent is determined to empower its marginalised communities through its natural resources. Alake described Africa as endowed with natural resources, capable of driving its sustainable economic growth, particularly with the critical minerals needed for theContinue Reading
By Okeoghene Akubuike The National Bureau of Statistics (NBS) says 70 per cent of Nigerians refused to pay bribes in 2023 on at least one occasion. This is according to the NBS Corruption in Nigeria: Patterns and Trends Report released in Abuja on Thursday. The report said the bribery refusalContinue Reading
