(AFRICAN EXAMINER) – The African Development Bank (AfDB) Group has flagged off a six-month campaign to sensitize its internal and external stakeholders on its new Whistleblowing Policy. The new Whistleblowing Policy, which was approved by the AfDB’s Boards of Directors in January this year, brings retaliation by contractors, consultants and suppliers under the bank’s sanctions […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has dismissed reports that it is considering the withdrawal of the redesigned N200, N500 and N1,000 notes from circulation. In a statement on Sunday, the apex bank’s Acting Director of Corporate Communications, Isa AbduMumimas described the reports as “unfounded speculation”, noting that there is no plan […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced its unaudited results for the first quarter ending 31st March 2023, with an exceptional double-digit growth of 41% in Gross Earnings, increasing from ₦191.5 billion in Q1 2022 to ₦270 billion in Q1 2023. The unaudited statement of account submitted to the Nigerian Exchange (NGX) on Friday, […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) has said that to combat climate change and support green growth, African countries need more climate investments to achieve their national targets for emissions reductions and adaptation to the impacts of climate change. Africa, the continent that pollutes the planet the least, is today one of the world’s […]
(AFRICAN EXAMINER) – Amid probe of the alleged loss of over $2.4 billion in revenue from illegal sale of 48 million barrels of crude oil export in 2015 and the call by the Socio-economic Rights and Accountability Project (SERAP) for President Muhammadu Buhari to set up a presidential panel of enquiry to probe allegations that […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has assured Nigerians of safety of their money in banks through operation of the e-naira. taken its e-Naria digital currency policy sensitisation to community comprising students, teaching and non teaching staff. Mr Chika Ugwueze, Assistant Director Payments System Management Department, CBN, Abuja, disclosed this in Nsukka […]
(AFRICAN EXAMINER) – The Debt Management Office (DMO) says Nigeria’s indebtedness to the World Bank, which grew from 6.29 billion dollars in 2015 to 13.46 billion dollars in 2022 is a positive development. According to a statement by the DMO in Abuja on Wednesday, this is contrary to media reports about the nature of World […]
(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS) says the average price of 5kg of cooking gas increased from N4,600.57 recorded in February to N4,610.48 in March. This is contained in the Bureau’s “Cooking Gas Price Watch’’ for March 2023 released on Monday in Abuja. The report said the March 2023 price represented a […]
(AFRICAN EXAMINER) – There were 222.5 million telephone subscribers in Nigeria as at end of 2022, the National Bureau of Statistics (NBS) has said. The 2022 figure showed an increase of 27.1 million subscribers over the 195.5 million subscribers recorded at the end of 2021. The NBS stated the figures in its Telecoms Data: Active […]
(AFRICAN EXAMINER) -The African Development Bank Group (AfDB), Africa’s premier development finance institution, has signed a new agreement with ILX Management B.V. (ILX), an Amsterdam-based fund management firm, to raise additional capital for Sustainable Development Goals (SDGs) and climate change projects across Africa. ILX is an emerging market focused private credit fund that invests in […]
(AFRICAN EXAMINER) – The World Bank says Nigeria spent 96.3 percent of its 2022 revenue on servicing its debts. This was contained in the Macro Poverty Outlook for Nigeria: April 2023 brief released by the international financial institution. According to the report, Nigeria’s fiscal position deteriorated in 2022, leaving the cost of the petrol subsidy […]
(AFRICAN EXAMINER) – Nigeria’s inflation rate rose to 22.04% in March 2023 compared to February 2023 headline inflation rate which was 21.91%. According to the National Bureau of Statistics (NBS)’s Consumer Price Index (CPI) report released on Saturday, the March 2023 inflation rate showed an increase of 0.13% points when compared to February 2023 headline […]
(AFRICAN EXAMINER) – African Development Bank (AfDB) says the African continent faces an annual GDP shortfall that could exceed 127.2 billion dollars by 2030. It stated on Friday that the shortfall would occur if current trends in climate finance flow into Africa continued. “Africa may lose as much as 12 per cent of GDP by […]
(AFRICAN EXAMINER) – The International Monetary Fund (IMF) says global growth will bottom out at 2.8 per cent in 2023 before rising modestly to 3.0 per cent in 2024. This is according to the IMF’s latest World Economic Outlook (WEO) Update Report for April 2023: “A Rocky Recovery”, released on Tuesday at the World Bank […]
(AFRICAN EXAMINER) – The Bureau of Public Enterprises (BPE) has signed a tripartite agreement to commence the re-concession of the Lagos International Trade Fair Complex (LITFC). This is contained in a statement signed by BPE’s Head of Public Communications, Amina Tukur, in Abuja on Monday. Tukur said the bureau signed a tripartite agreement with Portman […]
(AFRICAN EXAMINER) – The Enugu Chamber of Commerce. Industry, Mines and Agriculture (ECCIMA), said the Cashless Policy affected the just concluded 34th Enugu International Trade Fair adversely. Speaking at the closing ceremony in Enugu on Wednesday, ECCIMA President, Mr Jasper Nduagwuike, said that the 2023 general elections also contributed to the low turnout of exhibitors. […]
(AFRICAN EXAMINER) – The National Bureau of Statistics (NBS), says total capital importation in Nigeria stood d at 1,060.73 million dollars in quarter four of 2022. The NBS said this in its Nigeria Capital Importation Q4 2022 report released on Wednesday in Abuja. The report said the Q4 figure was lower than the 2,187.63 million […]
(AFRICAN EXAMINER) -The African Development Bank (AfDB) has appointed Marie-Laure Akin-Olugbade, a Cameroonian national, Vice President for its Regional Development, Integration and Business Delivery complex. The appointment Akin-Olugbade, a seasoned senior executive with close to 31 years of experience delivering technical, managerial and strategic knowledge and leadership in capital markets, treasury, asset management and product […]
(AFRICAN EXAMINER) – The Naira appreciated against the dollar on Friday, exchanging for N461.38 at the investors’ and exporters’ window. The rate represented an increase of 0.03 per cent when compared to the N461.50 it exchanged to the dollar on Thursday. The open indicative rate closed at N461.30 to the dollar on Friday. A spot […]
(AFRICAN EXAMINER) – The Nigerian Deposit Insurance Corporation, (NDIC) has advised on the need to always save their money with Formal Banking System as they remain the safest, smartest and most prudent place to save and the only way through which the corporation can protect bank deposits. The Organization equally stated that such deposits enjoy […]
