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Why Nigerian insurance is one of the lowest globally - CPPE

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Why Nigerian insurance is one of the lowest globally - CPPE

High levies threaten survival of Nigerian airlines, says CPPE

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Lagos signs power purchase deals to boost supply by

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Hackers breach North Korean spy group’s computer

Italy okays extradition of Chinese hacker wanted by US

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Dangote urges govt, private sector partnership to eliminate malaria

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Naira fall'll worsen Nigeria’s food, energy crisis — W’Bank
News

More Nigerians’ll fall into extreme poverty, World Bank predicts

The World Bank has predicted that more people in Nigeria and its Sub-Saharan neighbours are expected to fall into extreme poverty. According to a report obtained via a World Bank newsletter on Friday, titled, “Global Economic Prospects,” Russia’s invasion of Ukraine and its effect on the commodity market, supply chains, inflation, and financial conditions have […]

eNaira hits 905k downloads
Banking

CBN introduces USSD to boost eNaira

The Central Bank of Nigeria plans to introduce the Unstructured Supplementary code as part of steps to improve the Central Bank Digital Currency. This was disclosed by the Deputy Governor of the CBN, Kingsley Obiora, at the IMF African Department Speakers Series held virtually on Friday, according to Nairametrics.  Obiora said that Nigeria was doing […]

Banking

Unity bank projects N10.8bn gross earnings Q3 2022

Unity Bank Plc has announced that it aims to achieve N10.890 billion in gross earnings for the third quarter of 2022. Nairametrics reports state that Unity bank, in its Q1 earnings forecast obtained from the Nigerian Exchange Limited (NGX), the bank also projects to rake in N7.204 billion in interest income. The lender projected a […]

Telecommunications

NCC tasks Nasarawa PLWDs on NIN-SIM linkage

The Nigerian Communications Commission has appealed to Persons Living With Disabilities in Nasarawa State to approach their preferred telecommunication companies and link their National Identification Number to their Subscriber Identity Module. Speaking at the Inclusiveness of Persons With Disabilities Awareness and Engagement Programme in Lafia on Thursday, the Executive Vice-Chairman and Chief Executive Officer of […]

Group backs sale of NNPC
News

NNPC’s verified Twitter account hacked, recovered

The Nigerian National Petroleum Company Limited, which alarmed the general public that its official Twitter account was hacked and used to send inappropriate messages on June 8, 2022, has now been recovered. NNPC’s notice was contained in a public notice signed by the Group General Manager, Group Public Affairs Division, Mr. Graba Deen Muhammad, on […]

Economy

FG gains N19.2bn from gold, others in Q1 – NBS

The National Bureau of Statistics had shown that the Federal Government had gained N19.2bn in the first quarter of 2022 from gold deposits despite not having a robust gold extraction in deposits and production. The report, titled ‘Trade In Goods Statistics,’ said the commodity classified as ‘Gold unwrought or in semi-mfr. forms, or in powder […]

Banking

28 banks Join $500m pan-African settlement platform

One year after the African Continental Free Trade Agreement take-off, no fewer than 28 banks in Africa joined the Pan-African Payment and Settlement System, which took off with a $500m facility with an additional 24 banks on the waiting list. Daily Trust reported over 40 different currencies in the African continent. Over time, many traders […]

UBA opens to customers Saturday for old naira notes
Banking

UBA redeems five-year $500m Eurobond

The United Bank for Africa has redeemed its debut $500 million five-year Eurobond notes which matured on Wednesday. The Nation reported that the Eurobond notes issued in 2017 were offered at a coupon rate of 7.75 per cent. The bond was raised to support the bank’s business in key sectors of the economy. UBA had […]

News

Forex trader bags two years jail for N20m theft

A forex trader identified as Shola Henry was sentenced to two years imprisonment on Tuesday by the Domestic Violence and Sexual Offences Court, Ikeja, Lagos State, for N20m theft. The Economic and Financial Crimes Commission had arrested the convict after it received a petition from a businessman, Anyasi Matthew, who claimed that Henry defrauded him […]

News

E-payment: Nigerians’ spending on utility bills rises by 387%

The amount Nigerians spent on electronic bills such as power and other utilities grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022, indicating an increase in the use of e-channels by Nigerians. According to the Nigeria Inter-Bank Settlement System, e-bills payment includes […]

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