AfDB invests $10.9 bn in Nigeria – Official By Lucy Ogalue The Director-General of West Africa Region, African Development Bank (AfDB), Lamin Barrow, says the banks’s cumulative financing approvals in Nigeria stands at 10.9 billion dollars. Barrow said this at the Second Interactive Session and Workshop on Developing Bankable BusinessContinue Reading
By Lucy Ogalue The Speaker of the House of Representative, Rep. Tajudeen Abbas, says Nigeria can empower youths and women in agriculture with the development and implementation of bankable business proposals. Abbas said this at the 2nd interactive session and workshop on developing bankable business proposals or business plans forContinue Reading
By Kadiri Abdulrahman A financial expert, Mr Okechukwu Unegbu, says the directive by the Central Bank of Nigeria (CBN), that balances of dormant accounts be transferred to it, was in order. Unegbu, a seasoned banker and past president of Chattered Institute of Bankers of Nigeria (CIBN), said this in anContinue Reading
By Okeoghene Akubuike The National Bureau of Statistics (NBS) says the average retail price of a litre of petrol increased from N545.83 in June 2023 to N750.17 in June 2024. It made the declaration in its Petrol Price Watch for June 2024 released in Abuja on Thursday. ItContinue Reading
By Kingsley Okoye The Central Bank of Nigeria (CBN) said in Abuja on Friday that its monetary policies and actions have stimulated growth and stability of the nation’s economy. CBN Governor, Mr Olayemi Cardoso, said this during an engagement with Senate Committee on Banking, Insurance and other Financial Institutions. CardosoContinue Reading
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
