Business

The Central Bank of Nigeria (CBN) has announced plans to sell $20,000 to each eligible Bureau De Change (BDC) at N1,590/$ in order to meet the demand for invisible transactions. According to a circular signed by Dr W.J Kanya, Trade & Exchange Department, “All BDCs are allowed to sell to…

The Dangote Group is partnering Abuja Chamber of Commerce and Industry (ACCI) to boost trade and investment in the country. Dangote Industries Limited is the major sponsor of the 19th edition of the Trade Fair which officially opens on Monday September 23,2024. Speaking to newsmen, Director General of ACCI, Sir…

Central Bank of Nigeria (CBN) has reacted to misinterpretation or misrepresentation of its biennial publication on Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines published on September 17, 2024, saying the guidelines must primarily be viewed as a record of policies, circulars and directives issued by the bank up to…

The Nigerian equity market gained N607bn in market capitalisation in the past week, on the back of buying interest in large-cap stocks like Access Corporation and MTN Nigeria. The All-Share Index appreciated by 1.06 per cent to close at 97,456.62, while the market capitalisation rose by 1.10 per cent to…

By Abiodun Folarin   The Federal Republic of Nigeria has underscored its commitment to deepening ties with Indonesia, highlighting the untapped economic potential and promising avenues for collaboration. This was affirmed during the second Indonesia-Africa Forum, held from September 1-3, 2024, in Bali, Indonesia. Representing President Bola Ahmed Tinubu, Nigeria’s…

The Central Bank of Nigeria (CBN) has reported a significant increase in remittance inflows, reaching $553 million in July 2024, a 130 per cent increase from the corresponding period in 2023. A statement by Hakama Sidi Ali (Mrs.), Ag. Director, Corporate Communications said “this figure represents the highest monthly total inflows…

Access Holdings Plc, has announced an extension of the acceptance period for its ongoing Rights Issue. Initially set to close on August 14, 2024, the period has now been extended to August 23, 2024, following the approval of the Securities & Exchange Commission (SEC). The statement, signed by the Group’s…

The Central Bank of Nigeria (CBN) has reintroduced the publication of several key economic reports, reaffirming its commitment to fostering transparency and accountability in the Nigerian economy. A statement by Hakama Sidi Ali (Mrs.), Ag. Director, Corporate Communications listed the  reports to include the Purchasing Managers’ Index (PMI), Business Expectation…

Ahead of the expected commencement of petrol release to Nigeria’s market this month, Dangote Petroleum Refinery has reacted to headlines announcing “Marketers Project N600/litre for Dangote Petrol” published by a national newspaper of Tuesday August 13,2024, saying it was a mere speculation. A statement by Anthony Chiejina, Group Chief Branding and…

By Abiodun Folarin   The Central Bank of Nigeria (CBN) has granted approval for a pivotal financial accommodation to support the proposed merger between Unity Bank Plc and Providus Bank Limited. CBN in a statement on Tuesday, by it Ag. Director, Corporate Communications, Hakama Sidi Ali, explained that the strategic…