admin

Alex Okosi Becomes Managing Director for Google in Africa Google on Tuesday announced the appointment of Alex Okosi as Managing Director for Google in Africa to help businesses and economies grow. Vice President of Europe, Middle East and Africa (EMEA) Emerging Markets at Google, Meir Brand said in a statement that Okosi would be responsible […]

Cornerstone Insurance Names Stephen Alangbo MD/CEO Cornerstone Insurance Plc, on Tuesday, announced the appointment of Mr Stephen Alangbo, as its new Managing Director/Chief Executive Officer (CEO), effective July 1. Mr Segun Adebanji, Chairman, board of the insurance company announced this at the firm’s 2023 Annual General Meeting (AGM) in Lagos. Adebanji said that the board […]

Commercial Papers Listed on FMDQ Rise by 43% As companies continue to eye cheap funding sources, commercial papers quoted on the FMDQ platform rose by about 43% in the month of June, according to a report. Amidst a high interest rate environment, companies have altered financial plans to ensure a balanced capital structure as a […]

Naira Slides to N747.87 as FX Inflows Crash The Nigerian naira slid back to N747.87 per United States dollar (USD) on Monday after a report showed that FX inflows into the Investors and Exporters window declined significantly in July, according to data from FMDQ Exchange. At the official window, the Naira dropped by 1.01 per […]

Equities Investors See ₦412bn Gain as NGX Rallies Equities investors saw about N412 billion gain as the Nigerian Exchange (NGX) rallied on the first trading session in the new week. Stock traders and market analysts reported that the early rally pushed equities market capitalisation to N37.37 trillion. The stock market has continued to consolidate an […]

NLC Strike: FG Appeals for 2 Weeks to Finalise Demands NLC STRIKE: The Federal Government has appealed for a period of two weeks to finalise organised labour demands. Mr Simon Lalong said this while addressing newsmen at the end of a closed door meeting with the Trade Union Congress (TUC) on Monday in Abuja. Lalong […]

FG Gets N193.59 Billion from Solid Minerals in 2021 The Federal Government get N193.59 billion from the solid minerals sector in 2021. The sector also contributed N814.59 billion between 2007 and 2021, with 2021 earnings, being the highest. The Nigeria Extractive Industries Transparency Initiative (NEITI) made this known on Monday in Abuja while unveiling its […]

Nigeria Seeks to Deepen Economic Ties With Japan The Federal Government of Nigeria (FGN) pledges to deepen its existing bilateral diplomatic and economic ties with the Government of Japan to enhance economic growth and development in Nigeria. The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, said this when he received the Japanese Ambassador […]

U.S. Dollar Inflows into FX Market Sinks 87% in 30-Day The volume of US dollars supply into the Investors’ and Exporters FX market sunk 87% in July 2023, according to market data from FMDQ. The slump came amidst FX shortage in the local economy. After 16 weeks of decline, there was an inflow of $331 […]

Return on Treasury Bills Dips Ahead of CBN Auction The average return on Nigerian Treasury bills dipped to about 8% ahead of the Central Bank primary market auction on Wednesday. The Apex bank will roll over maturing T-bills worth N214.74 billion via the primary market this week. The offer is expected to be split into […]

I Will Not Fail Nigerians – Tinubu President Bola Tinubu has reassured Nigerians of his determination not to fail the country in carrying out a permanent transformation of the nation’s economy to an enduring prosperity. Tinubu said this while receiving members of Tinubu Support Organisation (TSO) on a solidarity visit to the Presidential Villa, Abuja. […]

CBN Debits Banks for Failing to Meet Loan Target The Central Bank of Nigeria (CBN) has resumed slamming additional debits on commercial banks that failed to meet its 65% loan-to-deposit target. The apex bank deducted an additional N250 billion from banks, according to an investment banker report.  Recently, the apex bank indicated it planned to […]