admin

The meeting of the tripartite committee on a new national minimum wage is underway. The meeting, which is the fifth since the suspension of the industrial action by organised labour, is holding behind closed doors at the Nicon Luxury Hotel in Abuja. Some prominent members of the committee are in attendance, including the Director General […]

The Nigerians in Diaspora Commission (NiDCOM) has warned Nigerians on the need to be familiar with the laws of the countries they are visiting. Speaking against the backdrop of the harrowing experience of a Nigerian medical doctor, Andrew Etsetowaghan at Geneva Airport for carrying a presentation pointer in his hand luggage, Dabiri-Erewa cautioned Nigerian citizens […]

A Federal High Court sitting in Abuja has issued a bench warrant for three staff of the Account and Finance Department of the Rural Electrification Agency (REA) after they failed to appear in court for a multi-million-naira fraud case brought by the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The ICPC had charged […]

MultiChoice Nigeria has said it would not comment on the court ruling directing it to give subscribers on the DStv and GOtv platforms one month of free subscription. A three-man panel of the Competition and Consumer Protection Tribunal sitting in Abuja and led by Justice Thomas Okosu had on Friday directed Multichoice Nigeria to give […]

Nigerian US Dollar Bonds Yield Dips as FPIs Appetite Improve The average yield on Nigerian sovereign Eurobonds or the US dollar bonds dipped slightly in the international debt market as foreign portfolio investors (FPIs) increased their portfolio holdings. The sovereign Eurobonds market was positive, particularly with buying interest in NOV-25, SEP-38, and FEB-30 maturities, with […]

AfreximBank Disburses $925m Oil-Backed Loan to Nigeria The African Export-Import Bank, AfreximBank, has announced an additional disbursement of US$925 million as part of the syndicated US$3.3 billion crude oil-backed prepayment facility sponsored by Nigerian National Petroleum Company (NNPC) Limited. According to a statement from the Bank, this brings the total current funded facility size to […]

Naira Rises as Nigeria Receives Foreign Currency Loan The Nigerian naira rose against the US dollar slightly in the foreign exchange market as FX liquidity pressure reduced. Eligible FX demand at the Nigerian autonomous foreign exchange market undercuts total volume of US dollar liquidity at the window, According to information from the FMDQ, the Naira […]

NGX Loses N85bn as Investors Take Quick Profit The Nigerian Exchange, NGX, lost about N85 billion on Thursday as equities investors continue to take quick profit from recently rallied stocks. The selloffs that started early in the morning during the trading session persisted, causing key performance indicators to dip by 0.15%. The bearish session came […]

Kano: Customs Generates N50.7bn in May, Tightens Security at Borders The Kano Area Command of the Nigeria Customs Service (NCS), said it generated a total of N50.7 billion in May as revenue. It said the amount generated was a testament to its intensified efforts to curb illegal trades and smuggling in the area. The Area […]

Shareholders in Nigeria Can Elect to Receive Dividend in Dollar –Airtel Airtel Africa has announced that it will use a foreign exchange rate of N1,485.99 per US dollar to determine the amount payable to its local shareholders in Nigeria. However, the telecom giant stated that local shareholders can also choose to receive dividend payments in […]

Airtel Africa Repurchases 17,386,055 shares in 3-Month Dual listed Airtel Africa said it has repurchased its 17386,055 shares from the London Stock Exchange (LSE) since March 1, when the telecom giant launched a share buyback program in London. With significant free cash flows from its deleveraged balance sheet, the company intends to cancel the shares […]

Moniepoint Relaunches Banking Referral Programme Moniepoint MFB, an African financial institution, says it has relaunched its personal banking referral programme to enrich its customers. Mr Babatunde Olofin, the Managing Director of Moniepoint MFB, said this in a statement on Thursday in Lagos. Olofin said the referral programme was designed to reward users every time their […]