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The Federal Government of Nigeria has called for more support from the European Union (EU) in tackling the security challenges in the country. While speaking at the event titled “Road to Schuman Forum on Security and Defence” organised by the National Counter Terrorism Centre (NCTC) in collaboration with the EU, on Wednesday, in Abuja, the […]

The Nigerian Consumer Credit Corporation (CREDICORP) has launched the first phase of the Consumer Credit Scheme to enhance social mobility and make consumer credit accessible for economically active Nigerians. Here are five steps on how civil servants and other eligible Nigerians can apply for loans under this scheme: 1. Visit the CREDICORP Website  Go […]

Hon. Justice Nnamdi Dimgba of the Federal High Court, Lagos, on Wednesday, May 15, 2024, struck out a suit filed by one Chris Eke against the Central Bank of Nigeria on an allegation that section 6(a) (iv) of the CBN’s Customer Due Diligence Regulation 2023, violated his constitutional right to privacy. The Applicant, Chris Eke, […]

NGX Declines by N132bn as Investors Sell Zenith, FBNH Shares Equities market capitalisation of the Nigerian Exchange (NGX) declined by N132 billion as investors reduced their shareholdings in Zenith, FBN Holdings. The market has been bleeding due to sustained risk-off sentiment. The sustained bearish perception on the local bourse has been driven by the weak […]

Naira Loses Shine, CBN Calls Meeting as Exchange Rates Worsen The Nigerian naira lost shine in the foreign currency markets as exchange rates worsened beyond analysts’ anticipation. According to currency movement data from FMDQ, the naira depreciated against the US dollar by 2.86% to close at ₦1,520.40 per dollar in the official market. The amount […]

Virtual FX Trading: SEC Pledges to Cooperate with EFCC  The Securities and Exchange Commission (SEC) has pledged to work with the Economic and Financial Crimes Commission (EFCC) to ensure a reduction in virtual trading manipulations. Acting Director-General of SEC, Dr Emomotimi Agama, said this in Abuja on Tuesday when a team from the EFCC led […]

Nigeria Begins 2024 Oil Block Bidding Round The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the bidding process for 2024 oil block licensing round. Mr Gbenga Komolafe, Commission Chief Executive, NUPRC, announced this at the Miami, Florida, International Roadshow for the 2024 licensing round, hosted by the NUPRC, in collaboration with Petroleum Technology Association […]

China accuses Biden of tariffs hike on electric cars China has accused U.S. President Joe Biden of slapping new tariffs on Beijing as part of his re-election campaign and threatened retaliation. “The U.S. should immediately correct its wrong practices and cancel the additional tariffs imposed on China,’’ a statement from the Beijing Ministry of Commerce […]

Ecobank MySME Growth Series: AI Holds the Key to Business Development – Erhabor Small and Medium Enterprises (SMEs) in the country have been advised to embrace Artificial Intelligence (AI) technology to grow their businesses. Founder AI Nigeria, Ehia Erhabor, made this submission in his presentation titled “ Using AI for business innovation” delivered at the […]

FBN Excluded as Fitch Upgrades Five Banks Outlook to Positive Fitch Ratings has revised its outlook on the long-term issuer default ratings (IDRs) or creditworthiness of five Nigerian banks and one bank holding company to positive from stable, according to its rating note which excluded FBN Holdings or First Bank Limited from the upgrade. The […]

IMF Supports Zambia Economic Reform with $1.3bn – Official The International Monetary Fund, IMF, said so far, the fund has extended about $1.3 billion to support Zambia’s economic reform, details from an official statement revealed. The authority in Zambia embarked on reforms after failure to meet obligations owe to creditors.  Faced with weak macroeconomic conditions, […]

Entrepreneurship: FG Earmarks N10m Each for 5,000 Corps Members The Federal Government says it plans to empower at least 5,000 Corps members with N10 million each to fund their entrepreneurial ventures upon passing out of the NYSC scheme. The Minister of Youth Development, Dr Jamila Ibrahim, revealed this on Monday in Abuja, during the opening […]