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Naira gains ₦5.75 against dollar, closes at ₦1,358.25/$

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Unions’ picketing of Air Peace sparks safety, security concerns

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Nigeria’s exports to China jump 80% to $2.3bn

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Edo empowers 200 women with N4mn grants, POS machines
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Edo empowers 200 women with N4mn grants, POS machines

Melvin Onwubuke The Edo State Government, through the Ministry of Social Development and Gender Issue, has empowered 200 women by providing them with Point of Sale (POS) machines and N4 million as a start-off grant. The Ministry’s Public Relations Officer, Osato Ekhator announced this development on Monday and pointed out that it was an initiative […]

Mutual Funds' investment hits N2.3trn over high interest rate
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Mutual Funds’ investment hits N2.3trn over high interest rate

Melvin Onwubuke Mutual Fund is one of the few asset classes that were able to perform overtime amidst inflation and economic uncertainty in Nigeria. In January 2024, the total net asset value of Mutual Fund investments increased by 76.9 per cent to N2.3 trillion from N1.32 trillion in the corresponding period for 2023 year on […]

NIMASA's DG hands over during change of guard ceremony
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NIMASA’s DG hands over during change of guard ceremony

Melvin Onwubuke   Dr. Bashir Jamoh on Monday, handed over the administration to Chudi Offodile, Executive Director of Finance and Administration at Nigeria Maritime Safety Agency as a change of guard took place there. This follows the expiry of Jamoh’s term on 10 March 2024, according to Vanguard. Jamoh thanked the Federal Government for allowing […]

Gabriel Ukpeh retires as Zenith Bank's non-executive director
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Gabriel Ukpeh retires as Zenith Bank’s non-executive director

Melvin Onwubuke   The Board of Zenith Bank Plc has announced the retirement of Mr. Gabriel Ukpeh as an Independent Non-Executive Director from the company. This was contained in the bank’s notice to the Nigerian Exchange Limited (NGX) and the investing public. The retirement took effect on 8 March 2024, as stated in the statement […]

Nigerian food exports rise amid naira devaluation concerns
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Nigerian food exports rise amid naira devaluation concerns

Melvin Onwubuke The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Dele Kelvin Oye Esq., has said that the recent devaluation of the naira was fuelling food and grain export to West African countries as Nigeria’s food is now the cheapest in the West African, region due to the […]

FG targets 6500 megawatts power generation in six months
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FG targets 6500 megawatts power generation in six months

Melvin Onwubuke The Federal Government has outlined a plan for increasing the country’s power generation from about 4000 megawatts to between 6000 and 6500 megawatts in the next five or six months. The Minister of Power, Adebayo Adelabu disclosed this recently while meeting with Agency heads and stakeholders in the Nigeria Power industry, according to […]

Bode Abifarin steps down as Flutterwave’s COO
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Bode Abifarin steps down as Flutterwave’s COO

Bode Abifarin has stepped down from her role as the chief operating officer at Flutterwave. Olugbenga Agboola, the founder and CEO of Flutterwave, expresses his appreciation, stating, “With a sense of joy, pride, and a touch of wistfulness—we say farewell to an incredible force.” Having served over 15 years at KPMG Nigeria, Abifarin joined the […]

FG signs €995m deal to boost Nigerian agriculture sector
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FG signs €995m deal to boost Nigerian agriculture sector

Melvin onwubuke Minister of Agriculture and Food Security, Senator Abubakar Kyari has said the federal government has secured a €995 million deal between the Brazilian Government, and the German Deutsch Bank Group to finance a Green Imperative Programme in Nigeria. This was disclosed in a statement on Monday in Minna, Niger State, according to nairametrics. […]

Nigeria's AfCFTA trade yet to reach pre-COVID levels — Report
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Nigeria’s AfCFTA trade yet to reach pre-COVID levels — Report

Melvin Onwubuke Nigeria’s trade with African countries has yet to reach pre-COVID-19 levels despite implementing the African Continental Free Trade Area (AfCFTA) agreement in 2021. Nigeria’s trade with other African countries shows a slow recovery, according to the latest foreign trade report from the National Bureau of Statistics. Although there has been an upward trend […]

Egypt, Ghana, others rival Nigeria's bid for $5bn Energy Bank
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Egypt, Ghana, others rival Nigeria’s bid for $5bn Energy Bank

African oil-producing countries are on the brink of deciding the fate of the continent’s first energy bank, initially backed with $5 billion. However, opposition against Nigeria’s bid to host the institution has intensified, with six countries—Ghana, Egypt, South Africa, Benin Republic, Cote d’Ivoire, and Algeria—vehemently opposing the choice of Nigeria as the bank’s location. These […]

UBA, African Guarantee Fund partner on $100m SME loan
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UBA, African Guarantee Fund partner on $100m SME loan

Melvin Onwubuke   The African Guarantee Fund and United Bank for Africa have signed a partnership that will benefit Small and Medium Enterprises across 20 African countries. According to a statement from UBA on Monday, under this agreement, the AGF will support and guarantee $50 million portfolio guarantees for bank clients that run SMEs across […]

Aviation auditors begin security audits of Lagos, Abuja airports
Aviation

Aviation auditors begin security audits of Lagos, Abuja airports

Melvin Onwubuke   A team of auditors from the International Civil Aviation Organisation has landed in Abuja to begin the 2024 ICAO Universal Security Audit Programme employing the Continuous Monitoring Approach at the Lagos and Abuja airports starting today, March 11, 2024. This was disclosed in a statement by the Director of Public Affairs & […]

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