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Nigeria To Receive $17.6bn Inflows –World Bank
The World Bank has estimated that remittance inflows into Nigeria increased to $17.6billion this year from $17.21billion last year. The bank, which stated this in its “Migration and Development…
How Farmers’ Cooperative Is Revamping Moribund Farms
Unlike many farmers’ cooperatives, Dodeka Multipurpose Cooperative (DMC), which has members from different professional backgrounds, is delving into something unique; taking over management of…
Nigeria’s eNaira Attracting Global Attention, Says IMF
The International Monetary Fund (IMF) has revealed that Nigeria’s digital currency, the eNaira has been “drawing substantial interest from the outside world,” since it was unveiled on…
Ibom Airline Orders 10 A220 Airbuses From Dubai
Ibom Airline has ordered for 10 units of A220 airbuses for its fleet at the ongoing Air show in Dubai. The Group Manager Marketing and Communication of the company, Mrs Annie…
$6b Bolt shuns American market, focuses on Nigeria, Africa
America may arguably be the most stabilised economy by many indices, but $6b-valued ride-hailing company, Bolt is not playing in the market and not planning to be there in the near…
FMDQ lists MTN Nigeria’s N110bn bond
FMDQ Securities Exchange Limited has agreed to list MTN Nigeria’s N110 billion series 1 senior unsecured fixed rate bond. Karl Toriola, chief executive officer, MTN Nigeria,…
Three Pharma Firms Rake $93.5m From Covid-19 Daily
Pfizer, BioNTech and Moderna are making combined profits of $93.5million daily from their highly successful Covid-19 vaccines while the world’s poorest countries remain largely…
We disbursed N1trn loans to over 327,000 businesses in five years – BOI
The Bank of Industry (BoI) says it has disbursed N1 trillion worth of loans to over 327,000 micro, small and medium enterprises (MSMEs) and large businesses in the last five…
Two-thirds of global wealth stored in real estate – McKinsey
McKinsey & Company, a management consulting firm, says two-thirds of global net worth is stored in real estate — with only about 20 percent channelled toward other fixed assets. The firm…
Data Breach By Loan Apps: FG To Protect Nigerians
Many people on social media have reacted to the news that the federal government is set to enforce the right of Nigerians following the illegal actions of online loan lenders. According to some…
Nigeria Home To 9,100 Dollar-Millionaires, Worth $207 Billion
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and a combined total wealth of approximately $207 billion, as at…
After PSB approval, Airtel gets CBN’s nod to operate as a super agent in Nigeria
Airtel Africa Plc says it has been granted approval-in-principle by the Central Bank of Nigeria (CBN) to operate as a super-agent in Nigeria. In a corporate filing on the Nigeria…
Chinese Investors Acquire 120 Hectares Of Land In Akwa Ibom For Hendai City
….Project to generate 80,000 direct jobs-Essien A multibillion dollars modern city development project promoted by the Chinese investors , Hendai Investment Limited, is coming to oil rich…
GTCO MUSIC CONCERT: LIVE IN GHANA!
Guaranty Trust Holding Company Plc, the parent company of Guaranty Trust Bank (Ghana) Ltd, holds its first-ever show outside the shores of Nigeria tagged: GTCO Music Concert: Live in Ghana! From the…
Eight PFAs meet N5bn capital requirement
Chief Executive Officer, Pension Fund Operators Association of Nigeria, Oguche Agudah, said on Friday that eight out of the 20 pension fund administrators in the country have…
eNaira downloaded over 566,000 times from 160 countries – CBN
The Central Bank of Nigeria said on Friday that the eNaira wallet has been downloaded over 488,000 times from over 160 countries. The CBN said in a statement, “So far, we have…
Foreign investors prefer Nigerian banks’ Eurobonds to their stocks
Foreign investors can’t get enough of Nigerian banks’ Eurobonds but won’t touch their stocks with a ten-foot pole. First, it was Access Bank and now United Bank for Africa (UBA) that…
ESPN, NBC Sports, CBC Sports battle for Premier League TV rights
Premier League clubs are set for another significant windfall with the three biggest TV networks in the United States are battling for TV rights to broadcast games for the 2022/2023…
Naira gains in parallel market on rising dollar availability
Nigeria’s naira rebounded in the illegal market as the central bank boosted sales of dollars through commercial banks, according to traders. This has helped to close the gap with the official…
All eyes on SEC as First Bank ownership tussle rages on
Who is the largest single shareholder in First Bank? That question has been on the lips of many shareholders of the bank as well as other investors, analysts and members of the public…
Alibaba, JD enjoy record Singles Day despite tech crackdown
Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the…
Shippers To Cut Demurrage, Empty Container Charges After Strike Threat
Shipping companies in Nigeria have agreed to a downward review of demurrage and empty container charges as freight forwarders plan a strike action. The multinational liners had about two weeks…
Winners in promo lauds FCMB
Customers and winners in the just-concluded Season 7 of the First City Monument Bank (FCMB) bumper reward scheme, “FCMB Millionaire Promo”, have described the bank as a friend of the…
UBA’s $300 Million Eurobond Oversubscribed
Amid global and domestic challenges, the United Bank for Africa Plc’s (UBA) $300 million Eurobond attracted 1.7 times oversubscription from investors across the globe. The Pan-African…