Lagos to Host ‘Circular Economy Hotspot’ Event
In order to fulfill its commitment to achieving an inclusive transition to a circular economy, the Lagos State Government will hold the Circular Economy Hotspot event. The event, which has over the years brought together various stakeholder groups, aims to spread circularity as it is practiced in the host city to other parts of the […]
9PSB Promotes Financial Inclusion Among Youths
9 Payment Service Bank (9PSB), a digital payment institution, has expanded its financial literacy program to secondary schools in Lagos, Kano, and Abuja to encourage financial inclusion and close the wealth gap among the nation’s youth. In recognition of Financial Literacy Day, the bank ran a mentoring program concurrently at three distinct sites: Ajao Estate […]
CBN Urged to Review Capital Control and Foreign Exchange Policy
The Central Bank of Nigeria (CBN) must address capital control regulations and the variety of foreign exchange (forex) rates, which have persisted in impeding the flow of forex into the economy, according to Afrinvest Research, which has emphasized this necessity. The rules have had a detrimental effect on foreign portfolio investment (FPI) and foreign direct […]
Emirates: Why Flight Operations to Nigeria are Still Halted
According to Emirates Airline, a sizable portion of its revenue stranded in Nigeria has not yet been transferred. In a statement released on Friday, the airline urged the federal government to adopt a “dedicated policy” to allow foreign airlines operating in the nation to repatriate their funds. In November last year, Emirates suspended flights operations […]
Fuel Consumption Hits 80million Litres Daily, Subsidy Skyrockets
According to the most recent numbers provided by the Nigerian National Petroleum Corporation Limited, the usage of Premium Motor Spirit, often known as Petrol, has increased to nearly 80 million liters per day, increasing the subsidy on the commodity to an estimated N484 billion each month. An analysis of PMS weekly evacuation/dispatch data from March […]
Stock Market Rises by N108bn on Interest in Dangote Cement and 17 Other Companies
Yesterday, increasing interest in Dangote Cement Plc and 17 other companies led to a N108 billion boost in the market capitalization, reviving investors’ optimistic emotions in the Nigerian Exchange Limited (NGX) stock market. The NGX All Share Index (ASI) rose by 197.20 basis points or 0.35 per cent to close at 55,801.14 basis points from […]
Cash Shortage Affects Rural Residents Standard of Living
GUSTO & Co has said that the cash constraint that emanated from the naira redesign policy of the Central Bank of Nigeria will affect the living standard of rural dwellers. It said this in a report titled ‘Redesign gone wrong? – costly cashless’. It stated, “The cash constraint is also likely to compel consumers to […]
Under 100-for-100 Policy, CBN Disburses N114 Billion
Since the start of the intervention, the Central Bank of Nigeria has given beneficiaries under its 100-for-100 Policy on Production and Productivity a total of N114.17 billion. This information was provided in a statement released by CBN Governor Godwin Emefiele following the most recent meeting of the Monetary Policy Committee in Abuja. He stated that […]
Ecobank Recognises and Rewards Customers that use Digital Channels
Four clients who consistently used Ecobank’s electronic payment channels received N1m apiece as a prize from the bank. The bank stated that it created the initiative to promote the use of its electronic payment channels, which enabled convenient banking, during the cheque presentation at its super rewards event in Lagos. The four winners are Mr. […]
Naira scarcity: Nigerian bankers ask members to stay at home over attacks
The Association of Senior Staff of Banks, Insurance and Financial Institutions, ASSBIFI, on Friday directed members to stay away from work over persistent attacks on banks and financial institutions nationwide due to naira notes scarcity. This was contained in a statement released by the group’s National President, Olusoji Oluwole, stating that the reason for the […]