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Catherine Nwosu becomes Africa Prudential first female CEO
Appointments

Catherine Nwosu becomes Africa Prudential first female CEO

By Melvin Onwubuke Africa Prudential Plc, the pioneering registrar listed on the Nigerian Exchange, has announced the appointed of Catherine Nwosu as Chief Executive Officer. This follows the statement by Africa Prudential Plc. The appointment took effect March 1, 2024. Statement read in part “Having served in various capacities within Africa Prudential since its inception […]

Equity investors lose N1.5tn as bond yield rises
News

Equity investors lose N1.5tn as bond yield rises

Due to the strong rates in the fixed-income market, investors in the equities market lost around N1.55 trillion in February. The PUNCH recorded that, In the short- to medium-term, it is anticipated that investors would become less interested in the capital market as they pursue higher returns due to the increase in the monetary policy […]

Lagos vows to uphold monthly rent agreement
News

Lagos vows to uphold monthly rent agreement

The Special Advisor on Housing to the Lagos State Governor, Barakat Odunuga-Bakare, has revealed that the state’s monthly rental program will be put into effect either early in 2025 or before the end of 2024. The PUNCH recorded that, she said this during the Lagos State Real Estate Regulatory Authority’s news conference held recently in […]

Lagos unveils plan to tax remote workers to generate N200bn
Real Estate

Developers must have authorization letters – Lagos agency

Before starting construction on any building in the state, developers are required to get a letter of authorization from the Lagos State Building Control Agency. According to The PUNCH, this was reported by the general manager of the Lagos State Building Control Agency, Gbolahan Oki, at the recent presentation of letters of authorization to the […]

NICA advocates credit access for students, Informal sector
Business

NICA advocates credit access for students, Informal sector

A credit system that enables participants in the unofficial economy and students to get credit for their studies and expand their enterprises has been demanded by the National Institute of Credit Administration. According to The PUNCH, a nation that supports a healthy consumer credit system allows people to purchase products and use services on credit, […]

OPEC+ weighs 2027 production baselines, potential hike
News

Saudi Arabia, Russia lead OPEC in extending oil cuts

The OPEC+ nations, led by Russia and Saudi Arabia, have agreed to extend the current voluntary cuts in oil output for a further three months in an attempt to raise prices. These have remained low due to ongoing geopolitical disputes in Europe and the Middle East. According to the official news agency of Saudi Arabia, […]

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023
News

MTN MoMo PSB’s active wallet surges to 5.3 million in 2023

By Melvin Onwubuke   MTN Nigeria has disclosed that its MoMo Payment Service Bank (PSB) attained 5.3 million active wallet users, as of December 2023. MTN noted that the PSB earned more traction by increasing its agent network in the year by 103,000 to 327,000. From it’s financial records, the company’s active merchant ecosystem, which […]

Coups, poverty, unemployment affect Africa in global trade - Report
News

Coups, poverty, unemployment affect Africa in global trade – Report

By Melvin Onwubuke   Africa’s contribution to global trade remains at less than 3%, according to Economic Commission for Africa report. The report on assessment of progress on regional integration in Africa indicates, Africa’s regional integration agenda is progressing, yet, slowly, according to nairametrics. It is mainly ascribed to trade in goods, implying that Africa […]

AfDB, ECOWAS sign $12m agreement to boost Rice production
News

Nigeria gets $134m AfDB aid to plant rice, other crops

Nigeria is set to receive $134 million from the African Development Bank to assist the growing of vital crops such rice, maize, cassava, and soybeans. The bank’s president, Dr. Akinwunmi Adesina, said on Saturday that $134 million will be provided to help this endeavour after touring the Centre for Dryland Agriculture at Bayero University, Kano according to […]

Looted warehouse in Abuja not ours - NEMA
News

Looted warehouse in Abuja not ours – NEMA

Contrary to what certain media outlets had said, NEMA does not own the warehouse that was robbed in Abuja on Sunday. According to The Leadership, people of the Gwagwa region of the Federal Capital Territory broke into a warehouse thought to be controlled by NEMA and took food items out in protest of the country’s […]

Tinubu signs seven bilateral agreements with Qatar
Business

Tinubu signs seven bilateral agreements with Qatar

In an effort to increase business prospects between the two nations, President Bola Tinubu signed seven bilateral, multi-sectoral agreements with the government of Qatar on Sunday. The Times stated that, Ajuri Ngelale, the president’s special adviser on media and publicity, revealed this in a statement. According to Ngelale, seven agreements have been signed, including one […]

Dangote Sugar loses N172bn in forex, ends 2023 with N108.9bn loss
News

Dangote Sugar loses N172bn in forex, ends 2023 with N108.9bn loss

Melvin Onwubuke Dangote Sugar Refinery Plc has reported a loss before tax of N108.92 billion compared to a pre-tax profit of N82.3 billion a year earlier. The company notes that these losses are mainly due to a significant depreciation of the naira, which has in general reduced operating profits for many manufacturers in Nigeria. Dangote […]

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