(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has again reassured the banking public of the safety of their deposits and the banking system’s resilience. The apex bank’s Acting Director of Corporate Communications Department, Mrs Hakama Sidi-Ali, gave the assurance in a statement on Monday in Abuja. Sidi-Ali’s statement was a response to concern […]
(AFRICAN EXAMINER) – Newly released data by the Nigerian Bureau of Statistics (NBS), has revealed that exports of agricultural goods from Nigeria to other countries, increased by 123 per cent over the value recorded in the fourth quarter of 2023 (₦463.97bn), and also by 270 per cent when compared to the value recorded in Q1, […]
(AFRICAN EXAMINER) – The Senate leadership has described the 650,000bpd Dangote Petroleum Refinery as the 9th wonder of the world but came hard on those who are skeptical of the completion of Dangote Petroleum Refinery describing them as dream killers. Indeed, the Senate President, Godswill Akpabio, who led the leadership of the 10th Senate on […]
(AFRICAN EXAMINER) – The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to pay 2.3 million depositors of Heritage Bank approximately N650 billion starting this week. This move follows the recent withdrawal of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN) NDIC Managing Director Mr. Bello Hassan made this announcement during a […]
…Targets 5% Increase in Market Share through EPC Projects (AFRICAN EXAMINER) – The NNPC Engineering and Technical Company (NETCO), a subsidiary of the Nigerian National Petroleum Company Limited (NNPC Ltd), has announced a 137 per cent increase in operating profits for the year 2023. This was disclosed by the Chairman of the company’s Board of […]
(AFRICAN EXAMINER) – The Shell Petroleum Development Company of Nigeria Limited, (SPDC,) and its Partner spent more on Social Investments in 2023 with a total of $42.2 million. This was contained in a press statement signed by Communications, Media and NGO Relations Manager of Shell, Bamidele Odugbesan. According to the press release, Shell and it’s […]
(AFRICAN EXAMINER) – Nigeria’s current account balance has experienced a surplus of $1.432bn in 2024, according to a report by the International Monetary Fund (IMF). The report, ‘World Economic Outlook Database’ seen by Channels Television on Wednesday, noted that the increase in the Federal Government’s account for the period, was an improvement from the $1.21bn […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) says there are no plans to withdraw the licenses of three banks. A press statement by the banks Acting Director of Corporate Communications, Haka Sidi-Ali, said, “The attention of the Central Bank of Nigeria (CBN) has been drawn to some information circulating in the public domain, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International Banker 2024 Banking Awards, retaining the title for the second consecutive year. Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to be recognised […]
(AFRICAN EXAMINER) – In its continued efforts to provide alternative source of fuel for Nigerians and lessen the impact of subsidy removal on petrol, the Federal Government has commissioned a 5.2 million standard cubic feet per day (mmscfd) Compressed Natural Gas (CNG) plant in Lagos. Minister of State for Petroleum Resources (Gas) Rt. Hon. Ekperikpe […]
(AFRICAN EXAMINER) – The Minister of Agriculture and Food Security, Abubakar Kyari, says the scarcity of tomatoes being experienced in parts of Nigeria is caused by “severe infestation known as Tomato Ebola or Tomato Leaf Miner”. Many households reportedly resorted to tomato pastes and other alternatives as the price of fresh tomatoes skyrockets. In a […]
(AFRICAN EXAMINER) – Trading at the Nigerian stock market started the week on a positive note, as all performance indices rose by 0.26 per cent. Specifically, market capitalisation increased by N141 billion or 0.26 per cent to close at N55.359 trillion, as against N55.218 trillion posted previously. Consequently, the All-Share Index which opened at 97,612.51, […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has issued its approved guidelines to regulate the activities of Bureau de Change (BDC) operators in the country. In its new circular released on Wednesday, the minimum capital base for Tier-1 BDCs is N2bn while that of Tier-1 is set at N500m. Also, the mandatory caution […]
(AFRICAN EXAMINER) – ) The Nigerian Civil Aviation Authority (NCAA), has said that it would not hesitate to invoke relevant sections of the organisation’s regulations to sanction Turkish Airlines over mistreatment of Nigerian passengers. NCAA’s Director, Public Affairs and Consumer Protection, Mr Michael Achimugu, disclosed this to newsmen on Wednesday in Lagos. Achimugu said that […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has raised the interest rate to 26. 25 per cent. More to follow…
(AFRICAN EXAMINER)- Air Peace has dismissed reports of alleged safety breach in the United Kingdom, stating that ramp inspection issues were resolved with UK Civil Aviation Authority (CAA). The Lead, Corporate Communications of the airline, Mr Stanley Olisa, dismissed the allegation in a statement made available to newsmen on Monday in Lagos. In response to […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing banks to implement a controversial 0.5% cybersecurity levy on electronic transactions. The decision of the apex bank to withdraw the circular followed the public outrage that trailed the announcement of the policy two weeks ago and the suspension of the […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Ltd., (NNPC Ltd) has assured that the fire incident in a depot in Lagos will, in no way, affect petroleum products supply and distribution across the country. Chief Corporate Communications Officer, NNPC Ltd., Mr Olufemi Soneye, said this in a statement on Friday in Lagos. Soneye said […]
(AFRICAN EXAMINER) – Nigeria’s inflation rate rose to 33.69% in April 2024 compared to March 2024 headline inflation rate which was 33.20%. This was according to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Wednesday. “In April 2024, the headline inflation rate increased to 33.69% relative to the March 2024 […]
(AFRICAN EXAMINER) – The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. In an interview with the Financial Times, Cardoso said that the Monetary Policy Committee (MPC), which he chairs, would do whatever is necessary […]
