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President Muhammadu Buhari has approved the constitution of a new Governing Board of the National Institute for Sports, NIS, following the expiration of the outgoing board’s three year tenure. The president’s approval is contained in a statement signed by Mohammed Manga, the Director, Press and Public Relations, Federal Ministry of Youth and Sports Development. The […]

The Nigeria Customs Service Board (NCSB) has confirmed the has confirmed the appointment of five Deputy Comptroller Generals (DCGs) and 15 Assistant Comptroller Generals (ACGs). The confirmation came during its 57th regular meeting chaired by Minister of Finance Budget and National Planning, Mrs. Zainab Ahmed. Customs National Public Relations Officer, Chief Superintendent of Customs, Abdullahi […]

Twelve companies on Friday put in bids for a contract for the utilization of the recovered sum of $954,000 from the former governor of Bayelsa, Diepreye Alamieyeseigha. The bid was declared opened by the Solicitor General of the Federations and Permanent Secretary, Ministry of Justice, Mrs Beatrice Jeddy-Agba who said, the ministry is implementing what […]

IMF Approves $3bn Loan for Ghana The International Monetary Fund (IMF) executive board has approved a three billion U.S. dollar Extended Credit Facility for Ghana to help address its current economic crisis. In a statement, the IMF said the decision would enable an immediate disbursement of about 600 million dollars to Ghana. It added that […]

G7 to Limit Russian Diamond Exports G7 countries are planning to limit exports of diamonds from Russia as punishment for the invasion of Ukraine, several diplomats at the G7 summit said on Thursday. A declaration on the diamonds is to be adopted at the G7 summit of leading industrial democracies in Hiroshima, Japan. The aim […]

Stanbic IBTC Bank Offers 50% Loan Concession for Female Entrepreneurs Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has announced a discounted loan offer to empower female entrepreneurs in the Stanbic IBTC Blue Blossom Community. The bank offers female-owned businesses a 50% concession on loan fees for specific business loans (*except SME Lit Loan) […]

Shareholders Authorise Ecobank to Raise Capital Ecobank Transnational Incorporated (ETI), the parent of the Ecobank Group, shareholders have approved all resolutions presented at its annual meeting including the borrowings plan to boost capital position. The leading pan-African bank with a presence in 35 African countries, held its 35th Annual General Meeting (AGM) and an Extra […]

Banks Sell Treasury Assets to Support Liquidity In the secondary market, the average yield on Nigerian Treasury bills shifted upward as the rising headline inflation rate widened negative real return in the fixed interest securities. Nigeria’s deposit money banks commenced fresh Treasury bills sales in the market as the liquidity level in the financial system […]

The Federal High Court sitting in Abuja has nullified the Memorandum of Understanding (MoU) between Aviation Services International Limited (AHS) and its Nigerian partner; Precision Aviation Handling Company Limited (PAHCOL), in a ruling, where it said the defendants contradicted the laws of the Federal Republic of Nigeria and the Civil Aviation Act 2006, particularly the […]

The Board of Directors of the African Development Bank (AfDB) has approved a $15 million subordinated loan for Infrastructure Credit Guarantee Company Limited (InfraCredit) to strengthen its capital base and help close Ni­geria’s infrastructure financ­ing gap. The financing will enable InfraCredit to leverage do­mestic capital markets to bol­ster access to long-term local currency infrastructure fi­nancing […]Read More

Net foreign exchange inflow into the economy fell by $2.6bn in the fourth quarter of 2022, according to the latest figure from the Central Bank of Nigeria. The banking regulator disclosed this in its fourth-quarter economic report. It stated, “Net foreign exchange inflow to the economy stood at $5.78bn in 2022,Q4, compared with $7.29bn in […]

The Supreme Court handed twin victories to technology platforms on Thursday by declining in two cases to hold them liable for content posted by their users. In a case involving Google, the court for now rejected efforts to limit the sweep of the law that frees the platforms from liability for user content, Section 230 […]