(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has injected $197.71 million to boost market liquidity and stability in the foreign exchange market. The boost comes as global markets reel in shock with the tariffs imposed by United States President Donald Trump. The American president recently imposed a 14% import tariff on products from […]
(AFRICAN EXAMINER) – The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has urged government and financial institutions in the country to remove all bottlenecks hindering Small and Medium Enterprises (SMEs) access to funds. Mr. Odeiga Jideonwo, President of ECCIMA, stated this Friday in Enugu in his address at the opening of the 36th […]
(AFRICAN EXAMINER) – President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture. This was contained in a press release issued on Friday by Special Adviser to the President, Information and Strategy, Mr. Bayo Onanuga. Sotinrin brings a diverse and extensive background in the private and public […]
(AFRICAN EXAMINER) – Following the appointment of the Group Chief Executive Officer and Board of Directors, the Nigerian National Petroleum Company Limited (NNPC Ltd) has announced the appointment of a new 8-man Senior Management Team on Friday. The team which will be headed by the GCEO, Mr Bashir Bayo Ojulari, has Rowland Ewubare as Group […]
(AFRICAN EXAMINER) – The new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd), Bayo Ojulari, has officially taken over the reins of the company from his predecessor, Mr. Mele Kyari. In a brief handover ceremony held at the NNPC Towers on Friday, the GCEO commended Kyari for his contributions to […]
(AFRICAN EXAMINER) – The Management of the Nigeria National Petroleum Company Limited (NNPC Ltd.) has welcomed the appointment of its new Group Chief Executive Officer (GCEO) Mr Bayo Ojulari, and Board of Directors by President Bola Tinubu. Mr Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd., in a statement on Wednesday appreciated the outgoing GCEO, […]
(AFRICAN EXAMINER) – Nigeria’s Net Foreign Exchange Reserve (NFER) as of the end of 2024 stood at $23.11 billion, the highest level in over three years, reflecting a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence. According to a statement by the Central Bank of Nigeria (CBN), the increase […]
(AFRICAN EXAMINER) – Nigeria’s gas production will likely remain flat in the second quarter of this year, the Society of Energy Editors (SEE) has projected in its Second Quarter 2025 Outlook for the Nigerian Energy Sector. Gas flaring penalties might tighten, forcing operators to invest more in gas utilisation, as the Second Quarter Outlook also […]
(AFRICAN EXAMINER) – The UAC of Nigeria has reported a profit before tax of N26 billion for 2024, marking a 107 per cent increase from the N12 billion recorded in 2023. The company disclosed this in a corporate filing with the Nigerian Exchange Ltd. on Saturday. In 2024, UAC recorded earnings per share of 497 […]
(AFRICAN EXAMINER) – Oil marketers under the aegis of the Petroleum Products Retail Outlets Owners Association Nigeria has commended the Federal Government and the management of the Nigerian National Petroleum Company Limited for reportedly running the revamped Port Harcourt refinery for 180 days non-stop. A statement by its Publicity Secretary, Joseph Obele, PETROAN commended Tecnimont Nigeria […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering significant growth across key performance indicators. The Bank’s performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry. […]
(AFRICAN EXAMINER) – The Naira on Wednesday appreciated to N1,575 per dollar in the parallel market from N1,585 per dollar on Monday. However, the Naira depreciated to N1,535 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data published by the Central Bank of Nigeria (CBN) showed that the indicative exchange rate for the naira […]
(AFRICAN EXAMINER) – Kenya Finance Minister John Mbadi on Monday said Kenya has applied for a new lending programme from the International Monetary Fund (IMF). Mbadi said the programme will factor in unused money from the current programme, which both sides walked away from last week. The East African nation and the IMF earlier agreed […]
…Solid core earnings drive growth in profitability and returns. (AFRICAN EXAMINER) – Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2024, with all its major indicators witnessing significant improvement. The 2024 financials, filed with the Nigerian Exchange Limited (NGx) on Monday, […]
(AFRICAN EXAMINER) – The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, said the concession of Nigeria’s major roads in deplorable condition would ultimately reduce inflation, increase productivity, and strengthen the nation’s wobbling currency, the Naira. Rewane is a member of the Highway Development and Management Initiative (HDMI), an initiative of the Federal Government […]
(AFRICAN EXAMINER) – The Tony Elumelu Foundation (TEF) has announced a $15 million grant to support 3,000 budding entrepreneurs from 52 African countries. TEF Founder, Mr Tony Elumelu, made this known in Abuja during the unveiling of the 2025 cohort of the foundation’s Entrepreneurship Programme. He said that each beneficiary would receive a $5,000 seed […]
(AFRICAN EXAMINER) – The Bank of Industry (BOI) has launched a special intervention programme, Project Guaranteed Loans for Women (GLOW), valued at ₦10 billion, to support female entrepreneurs across Nigeria. The bank’s Managing Director, Dr. Olasupo Olusi, announced the initiative on Thursday in Lagos, emphasising that the funding is designed to empower women who are […]
(AFRICAN EXAMINER) – The naira appreciated by 0.16 per cent to 1530.52/$ from 1532.93/$ in the previous trading session on the Nigerian Foreign Exchange Market at the close of trading on Wednesday. Data from the Central Bank of Nigeria revealed that the naira traded as high as 1545/$ and the lowest rate of 1500/$, which […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company Limited (NNPC Ltd.) has refuted reports of an explosion at the Port Harcourt Refining Company (PHRC) in Rivers. The company, in a statement issued in Abuja on Wednesday by its Chief Corporate Communications Officer, Olufemi Soneye, clarified that what occurred was a flare incident, which has since […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria has projected a gradual drop in inflation rate over the next six months. This is contained in its newly released report on inflation expectations for February 2025. According to the report, businesses and household respondents expect the level of inflation to gradually reduce over the next six […]
