(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) governor Yemi Cardoso says the apex bank’s FX reforms have made the naira the best-performing currency globally. Nigeria’s currency lost massively against major currencies in the past few months. But Cardoso, who spoke on Saturday in a briefing on the sidelines of the just-ended World Bank/IMF […]
(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS), says the average price of 5kg cooking gas increased from N6,154.50 recorded in February 2024 to N6,591.62 in March 2024. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2024 released on Friday in Abuja. The report said the March price represented a […]
(AFRICAN EXAMINER) – The International Monetary Fund (IMF) says economic growth in Sub-Saharan Africa (SSA) is projected to rise from 3.4 per cent in 2023 to 3.8 per cent in 2024. Abebe Selassie, Director, African Department, IMF, said this at a news briefing on the IMF’s Regional Economic Outlook for SSA titled “A Tepid and […]
(AFRICAN EXAMINER) – The Federal Road Safety Corps (FRSC) Kaduna State Sector Command, said it has arrested a BUA Company driver who crushed six persons to death and 30 others injured on Kano-Zaria road . The Sector Commander, Mr Kabir Nadabo, confirmed the incident to the News Agency of Nigeria (NAN),on Friday in Kaduna. Nadabo […]
(AFRICAN EXAMINER) – The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that it was important to clear about $7bn foreign exchange backlog to restore the confidence of investors. He stated this on Wednesday in Washington DC where he is attending the IMF-World Bank Spring Meetings. “I thought it was very […]
(AFRICAN EXAMINER) – A coalition of foreign and Nigeria based agro companies led by Shine Bridge Incorporated has indicated interest to partner with the Federal Government on large scale commercial cassava processing and food manufacturing. Shine Bridge is a U.S.-based agricultural policy think-tank and food technology transfer company. Dr Tony Bello, Chairman, Shine Bridge, spoke […]
(AFRICAN EXAMINER) – The Association of the Bureau De Change Operators of Nigeria (ABCON) says the Nigerian currency Naira has appreciated faster than expected against the United States’ Dollar. Gwadabe said as of Tuesday afternoon, the BDC operators buy the dollar at N980/$1 and sell at N1,020/$1, as against the official rate of N1161/$1 by […]
(AFRICAN EXAMINER) – The Nigeria Deposit Insurance Company (NDIC) has reassured Nigerian depositors that it remains unwavering in its commitment to prompt reimbursement to depositors affected by failed banks in the country. Managing Director/Chief Executive of NDIC, Mr Bello Hassan stated this on the occasion of NDIC’s Special Day at the ongoing 35th Enugu International […]
(AFRICAN EXAMINER) – The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.23. This represents a 7.16 per cent gain when […]
(AFRICAN EXAMINER) – ANAMMCO, a Nigerian Commercial Vehicle Company, has urged governments at all levels and corporate organisations to prioritise patronage of locally vehicles to create employment and boost nation’s economy. General Manager of ANAMMCO, Ms Chinelo Igwe, made the call while addressing newsmen Thursday at the ongoing 35th Enugu International Trade Fair. The fair, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) said it has sold a total of $10, 000 to 1, 588 Bureau De Change (BDC) operators to meet retail market demand for eligible invisible transactions. A statement by the apex bank on Monday said the $10, 000 sale was at the rate of N110/$1, adding […]
(AFRICAN EXAMINER) – Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088 called the ‘Scan to Resolve Complaint’ Portal with code aimed at enhancing satisfaction and swiftly addressing customers’ disputes. The first of its kind innovative platform marks another significant step by the bank to revolutionise customer service […]
(AFRICAN EXAMINER) – Prominent Traditional rulers from Dangote Cement Ibese host communities have commended the leadership ingenuity of the outgoing Plant Director, Azad Nawabuddin saying his pleasant personality has boosted the cordial relationship between the cement company and the host communities. It was a moment of accolades for Mr. Nawabuddin, during a send forth ceremony […]
(AFRICAN EXAMINER) – A total of 1.3 trillion naira worth of revenue has been generated by the Nigeria Customs Service in the first quarter of 2024. Speaking during a press briefing on Wednesday, the Comptroller General of Customs, Adewale Adeniyi, explained that over 572 seizures were made with a duty-paid value of N10bn. He said, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards […]
(AFRICAN EXAMINER) – Imposition of 5 per cent annual tax on private schools in the Federal Capital Territory (FCT) would be injurious to business and drive the school owners out of business. The submission was made on Saturday in Abuja by the National Association of Proprietors of Private Schools (NAPPS), reiterating its immediate reaction when […]
(AFRICAN EXAMINER) – 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, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed […]
(AFRICAN EXAMINER) – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate […]
(AFRICAN EXAMINER) – As the naira gradually appreciates against the dollar after months of unprecedented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1. In a circular to the President of the […]
