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Naira may face depreciation pressure after CBN rate cut

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NGX group company secretary Mojisola Adeola resigns

The Company Secretary and Head of Compliance of Nigerian Exchange Group Plc., Mojisola Adeola has resigned her role.   The resignation, which was contained in a statement signed by the Group Managing Director and Chief Executive Officer, Oscar Onyema, became effective on December 31, 2022.   The statement read in part, “This is to notify […]

New naira: Beware of currency hoarders, EFCC warns BDC operators
Oil and Gas

Fuel subsidy: EFCC recovers N13bn illegal payments

The Economic and Financial Crimes Commission records recovery worth N13bn as proceeds from illegal payments made under the subsidy regime between 2017 and 2021.   This was discovered from the website of the Nigeria Financial Intelligence Unit on the National Inherent risk assessment of money laundering in the Nigerian extractive sector.   The document read, […]

How FG can avoid recession in 2023 - LCCI
Business featured

How FG can avoid recession in 2023 – LCCI

The Federal Government has been urged to continue its interventions in crucial economic areas if the nation is to avoid a recession in 2023, according to the Lagos Chamber of Commerce and Industry. In a statement on the nation’s economic prognosis for 2023 that was made accessible to Vanguard, the director general of the LCCI, […]

News

Airtel, Dangote, other most valuable Nigerian companies in 2022

Telecommunication company, Airtel, led other companies in the Nigerian most valuable companies ranking. According to Nairametrics, Dangote cement was ranked second with MTN, occupying the third position. This was established by using publicly available values of publicly traded companies based on their market worth. This contrasts with the valuations of many privately held businesses, which […]

Investment

DMO announce 2023’s first savings bond offer

The Debt Management Office has announced two Federal Government Savings Bonds for subscription as its first bonds issuance for 2023.   In a statement on Monday, the DMO announced that one is a two-year FGN Savings Bond due in January 11, 2025, at the interest rate of 9.600 per cent per annum, while the other […]

Nigeria gained $2.6bn from non-oil export six months
Oil and Gas

Oil: Bonny light loses all gains in 2022

A report has shown that Bonny Light grade crude oil lost all of its 2022 earnings. Vanguard reported that the oil company ended the year with $81.94 per barrel, dropping 8.26 per cent from the $88.71 p/b it had been selling since January. The highest price for Bonny Light was reached in June 2022, four […]

Why oil theft estimates are unrealistic- Navy
News

IMF predicts tougher global economy in 2023

  Managing Director of the International Monetary Fund, Kristalina Georgieva, has stated that 2023 will be tougher on the global economy than the previous year. According to Al Jazeera, she stated this on Sunday in an interview with American news channel CBS. Georgieva predicted that a third of the world’s economies will remain in recession […]

Insurance

Consumers demand reversal of NAICOM’s third party insurance directive

The Insurance Consumers Association of Nigeria has called on the National Insurance Commission to reverse its directive on the increase of third Party Motor Insurance Premium in Nigeria.   This was contained in a letter signed by the association’s National Coordinator, Chief Yemi Soladoye, on Sunday in Ibadan, according to The Guardian.   Punch Metro […]

Banking

Activate rural banking, CBN directs PSBs

  The Central Bank of Nigeria has instructed Payment Service Banks to target those who are financially excluded by operating primarily in rural and unbanked areas. According to the sector’s supervisory framework for Payment Service Banks, PSBs must have at least 25% of their financial service touch points in rural areas that are periodically designated […]

petrol pump
News

Scarcity: Inspect petrol stations’ tanks, NMDPRA urges FG

The Nigerian Midstream and Downstream Petroleum Regulatory Authority has disclosed that it wouldnow check the tanks of filling stations and other depots in order to halt the hoarding of petrol. The Federal Government said on Saturday that it had stopped operating seven depots in various parts of Nigeria for selling fuel to retail outlets at […]

Economy Uncategorized

Croatia dumps kuna currency for euro

Croatia on Sunday switched to the euro and entered Europe’s passport-free zone — two major milestones for the country after joining the EU nearly a decade ago. At midnight (2300 GMT Saturday) the Balkan nation bid farewell to its kuna currency and become the 20th member of the eurozone.It is now the 27th nation in […]

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