The continuous Central Bank of Nigeria’s (CBN) intervention in foreign exchange (forex), has caused the Naira to hit the dollar again on Wednesday. The currency traded N400 to a dollar at the black market on Wednesday in Abuja. The News Agency of Nigeria (NAN) reports that the Naira has also appreciated against the Pound Sterling […]
Fidelity Bank Plc, in its bid to strengthen educational development and enhance the health and wellbeing of students through physical recreational activities, has donated sporting facilities to the Special (Deaf & Dumb) Education Secondary School in Calabar, Cross River State. The bank under the auspices of the Fidelity Helping Hands Programme (FHHP), the multi-purpose vehicle […]
Shareholders of Zenith Bank Plc on Wednesday approved final dividend of N55.573 billion for the year ended December 31, 2016, bringing the total payout to N63.422 billion. The dividend, which translates to N1.77 per share, was paid out of N129.65 billion recorded for the year. The shareholders gave the approval at the Annual General Meeting […]
The Nigerian National Petroleum Corporation (NNPC) has debunked claims in some quarters that Aiteo Eastern Exploration and Production Company is among the oil firms from which it is allegedly set to recover crude oil allocation accruals worth $42 million spanning 2012 through 2014. A top NNPC source who spoke in Abuja urged the public to […]
Wall Street indexes closed Tuesday with their sharpest decline in five months as major firms posted losses and oil prices fell. President Donald Trump’s plan to lower corporate taxes may not come as soon as businesses had expected because repealing the nation’s health care system, known as Obamacare, has been met with resistance in the […]
The Senate, on Wednesday, declared the embattled Comptroller-General of Nigerian Customs Service (NCS), Col. Hameed Ali (retd.), unfit to hold any public office. It also called for his resignation and cancellation of the retrospective policy on duties for vehicles. The Senate made the declaration after the Customs CG failed to appear before it. The clerk […]
Background The Monetary Policy Committee met on the 20th and 21st of March, 2017, against the backdrop of persistent uncertainty in the global economy, stemming from economic and socio-political developments around the world. On the domestic front, while the Q4 2016 GDP figure was better than the last two consecutive quarters, the economy remained […]
The Central Bank of Nigeria (CBN) and the Nigerian Communications Commission (NCC) have succeeded in halting an attempt by Etisalat’s creditors to take over the company. A statement by the spokesman for NCC, Tony Ojobo, said reprieve came for the mobile network operator during a meeting held on Friday. According to the statement, receivership was […]
The Nigerian Government, through the Securities and Exchange Commission (SEC), has sealed up the premises of Yuan Dong (YDEC) Ponzi scheme for unacceptable investment operations in the country. The Head, Corporate Communication of SEC, Mr Naif Abdussalam, in a statement on Sunday in Abuja, said the closure was to end unlawful activities of the company […]
Fidelity Bank Plc., one of the country’s leading financial institutions, has pledged to support ongoing efforts aimed at strengthening Nigeria’s agricultural value-chain by providing innovative funding schemes and technical advisory services to Micro Small and Medium Scale Enterprises (MSMEs) and Commercial agribusiness projects. The Bank’s Head, Agric Division, Omobola Odubanjo, disclosed this in Lagos on […]