Business

COVID-19: Third wave’ll be more devastating on economy –FG

The Federal Government has warned that Nigeria cannot afford to witness a third wave of COVID-19, as the country’s economy, especially the transport sector, is already severely hit.   Already, Nigeria has recorded several new cases of COVID-19 with United Kingdom, France, India, Brazil, Argentina now experiencing the third wave. Minister of Transportation, Rt. Hon. […]

Business

NDLEA intercepts 100,000 bottles of codeine syrup at Onne Port

No fewer than 100,000 bottles of codeine syrup with a total weight of 15,325kilogrammes have been intercepted and seized by the National Drug Law Enforcement Agency, NDLEA, at the Onne seaport, Port Harcourt, Rivers State.   A statement by Femi Babafemi, Director, Media & Advocacy, NDLEA Headquarters disclosed that the illicit substance, cough syrup with […]

Business

Top 5 banks inject N12.6trn into economy in 2020

A check on the contribution of top five Nigerian banks to economic growth and development in the financial year ended December 31, 2020 showed that about 50 percent of deposits which they garnered from customers were given out as loans and advances. In all, the banks gave out credits worth N12.57trillion out of N25.01billion received […]

Business

Inflation will rise to 18.2% in May, say analysts

The reprieve which Nigeria achieved in inflation in April may not last for more than a month as Analysts at Financial Derivates Company (FDC), have said the figure will climb to 18.2 percent in May. The National Bureau of Statistics (NBS) is expected to release the monthly inflation figure next week. According to the NBS, […]

Business

Fidelity Bank director acquires shares worth N67.5m

In a move to better position himself on the Board of Fidelity Bank Plc, Director, Dr. Kenneth Opara, Executive Director, has acquired about 30.01million of Ordinary shares of the bank. The transaction which was made known to the authorities of the Nigerian Exchange (NGX) Limited on Thursday showed that 30,005,700 units of Ordinary shares of […]

Business

OELA music project to boost Lagos tourism economy –Commissioner

Lagos State Government has endorsed the new music project tagged OELA Project Evergreen coming up this year, saying it is another platform to grow the state economy. The project being promoted by World Stage Limited (World- Stage), a leading media group is to deliberately focus the narrative of Nigerian music on positive virtues such as […]

Business

Q3, 2021: Jaiz Bank targets N6.93bn revenue

Non-interest Bank, Jaiz Bank Plc, has said it hopes to achieve a Gross Revenue of about N6.93billion at the end of the third quarter financial period ending September 2011. The bank made the disclosure in its Earnings forecast for the period made available to the Nigerian Exchange Limited this week. The bank said it will […]

Business

Renaissance Capital set to take front stage in Africa’s fintech business

Renaissance Capital, an emerging and frontier markets investment bank, has announced its intention to take a centre stage in Africa’s emerging fintech business. The company made the disclosure while announcing its plan to quit its South Africa cash equities business recently in Johannesburg. “There is a wave of excitement about what fintech can bring to […]

Business

CBN debunks report on planned nationalisation of Unity Bank

  The Central Bank of Nigeria (CBN) has denied planning to nationalise Unity Bank Plc as alleged by an online news medium. Reacting to the report, the Acting Director, Corporate Communications Department, CBN,  Osita Nwanisobi, described it as, “fake news” and should be discarded in its entirety He said: “The report is fake news. There […]

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