(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) on Thursday said the country’s inflation rate and the pressures on the exchange rate will reduce in the coming year. While the country’s inflation rate jumped to 27.33% for November – the highest in 18 years, the apex bank’s governor Yemi Cardoso projects a slump in […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPCL) has generated N4.5 trillion as revenue for the federation for 2023 as at October, its Group Chief Executive Officer, Mr Mele Kyari has said. Kyari, said this in Abuja on Wednesday at an interactive session with the Senate Committee on Finance. He assured of better […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) has assured that the projections on crude oil production and price benchmark for the 2024 Budget were realistic and realizable. The Group Chief Executive Officer (GCEO) of the Company, Mr. Mele Kyari, gave the assurance during an interactive session with the Senate Committee on […]
(AFRICAN EXAMINER) – The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 48 pips to 7.1126 against the dollar on Wednesday, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity […]
(AFRICAN EXAMINER) – In its efforts to tackle illicit financial flows and corruption in Africa, the African Development Bank (AfDB) has begun the training of relevant stakeholders to build their capacity. Dr Eric Ogunleye, the Acting Director and Division Manager, Policy Management at the African Development Institute of the AfDB, said this in Abuja. Ogunleye […]
(AFRICAN EXAMINER) – Socio-Economic Rights and Accountability Project (SERAP) has urged the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, to “promptly publish details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated from oil since the removal of subsidy on […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria has warned Nigerians against counterfeit Naira banknotes in circulation. The apex bank gave this warning on Friday in a notice titled ‘Beware of Counterfeit Naira Banknotes in Circulation’. The Bank tasked all Deposit Money Banks, Financial Houses, Bureau de Change and the general public to be on […]
(AFRICAN EXAMINER) – The World Bank will allocate $5 billion to deliver “reliable, affordable, renewable electricity” to 100 million Africans by the end of the decade, the president of the development lender announced Wednesday. The World Bank estimates that around 600 million people in Africa do not currently have access to reliable electricity, a key […]
(AFRICAN EXAMINER) – NNPC Ltd. has expressed its commitment to work with global partners in the march towards reducing methane emissions in oil and gas operations. On the sidelines of the ongoing United Nations Climate Change Conference, also known as COP28, taking place in Dubai, the United Arab Emirates, the Oil and Gas Decarbonization Charter […]
(AFRICAN EXAMINER) – The Debt Management Office (DMO), on Monday, offered two Federal Government of Nigeria (FGN) savings bonds for subscription at ₦1,000 per unit. The first offer is a two-year FGN savings bond due on December 13, 2025, at an interest rate of 12.287% per annum. The second offer is a three-year FGN savings […]
(AFRICAN EXAMINER) – The Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company (NNPC) Limited, Malam Mele Kyari, has expressed gratitude to Stakeholders and Nigerians for their enthusiasm regarding his reappointment by the President and Commander-in-Chief of the Federal Republic of Nigeria, Asiwaju Bola Ahmed Tinubu, GCFR. This was contained in a statement Issued […]
(AFRICAN EXAMINER) – President Bola Tinubu during his presentation of the 2024 ‘Budget of Renewed Hope’ on Wednesday pegged oil price at $77.96 and the naira at N750/$1. The President presented the 2024 budget proposal of N27.5trn before a joint session of the National Assembly in Abuja on Wednesday. He said, “Distinguished members of the […]
(AFRICAN EXAMINER) – Afreximbank says about 43.7 billion dollars worth of trade and investment deals were sealed at the just concluded Intra-African Trade Fair (IATF2023) held in Egypt. Kanayo Awani, Intra-African Trade Bank, Afreximbank Executive Vice-President, said this at the Post-Event Virtual News Conference held in Cairo, Egypt on Tuesday. Awani said the 43.7 billion […]
(AFRICAN EXAMINER) – The Minister of Solid Minerals Development, Dele Alake, on Tuesday assured foreign investors of low production costs in the country’s mining sector. Speaking at the Mines and Money Conference in London, Alake said that President Bola Tinubu has embarked on reforms to boost investment by streamlining procedures and reducing hurdles to attract […]
(AFRICAN EXAMINER) – Renowned economist, Bismarck Rewane, says it makes no sense for the country to export crude on Forward Contract and not supply indigenous firm, Dangote Refinery. Rewane, the Managing Director of Financial Derivatives Company Limited, made this known on Tuesday during a live appearance on Channels Television’s Business Morning show. He said by […]
(AFRICAN EXAMINER) – Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the French Government to establish a subsidiary of Zenith Bank Plc in France. The MoU, which was signed by the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, and the French Minister for Trade, Attractiveness and French Nationals Abroad, […]
(AFRICAN EXAMINER) – In a splendid display, Zenith Bank heralded the Christmas and Yuletide seasons with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos, on Saturday, 25 November 2023. The Light-Up ceremony was performed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu. This year’s Light Up Ceremony, the […]
(AFRICAN EXAMINER) – Two financial experts have commended the Central Bank of Nigeria (CBN) for its plan to further recapitalise Deposit Money Banks (DMBs) in the country. They gave the commendations in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Ota, Ogun. NAN reports that Mr Olayemi Cardoso, the CBN Governor, […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has disclosed plans to increase the capital base of banks in the country. In his speech at the 2023 Bankers’ Dinner on Friday, CBN Governor Dr Olayemi Cardoso said while there has been stability in the banking sector, banks in the country were not adequately capitalised […]
(AFRICAN EXAMINER) – The House of Representatives has commended the on-going reforms at the Nigerian National Petroleum Company (NNPC) Ltd, saying that the legislature is very pleased with the company growth from a loss-making company into a profit-making commercial entity. The commendation came from the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, […]
