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FG hires JP Morgan, others on $6.2bn fresh borrowing
The Federal Government of Nigeria has appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market. This was contained in a…
CBN releases guidelines for establishing payment service holding companies
The Central Bank of Nigeria (CBN) on Tuesday released guidelines for the establishment and regulation of Payments Service Holding Companies (PSHCs) in Nigeria. This is…
NNPC buys $2.76bn stake in Dangote Refinery
The Nigerian National Petroleum Corporation(NNPC) is forging ahead with its plans to buy 20 percent stake in the Dangote Petroleum and Petro-Chemical Refinery. The Federal Executive…
‘Different from Bitcoin’ — what you need to know about eNaira, CBN’s proposed digital currency
The Central Bank of Nigeria (CBN) has announced that it will launch the pilot scheme of its digital currency (eNaira) by October 1, 2021. Rakiya Mohammed, CBN director of…
DANGOTE SALT INTRODUCES THE DANGOTE SALT ART CHALLENGE 2021 – UNLEASH YOUR CREATIVITY
Dangote Salt is redefining the way we engage with art in Nigeria. Dangote Salt calls for creative entries in the second edition of the Dangote Salt art challenge. The opening date for the submissions is 1st of July 2021 and the closing…
DANGOTE REFINERY, A BUSINESS INSPIRATION TO PRIVATE SECTOR OPERATORS – WALE TINUBU
As efforts are being intensified for the imminent completion of the multi-billion dollars 650,000bpd Dangote Refinery in Lagos, the project has been…
Bolt raises €600m from Sequoia, others to continue building first-ever super-app
Bolt, the leading ride-hailing and mobility platform, has raised €600 million in a funding round that increases its valuation to over €4 billion. The funds will boost its…
We won’t tamper with foreign currency in your dom accounts – CBN assures customers
The Central Bank of Nigeria (CBN) says speculations that the apex bank is considering converting foreign exchange (FX) in the domiciliary accounts of customers to naira should…
BDCs: Lawyers, NGO hail CBN’s move on forex supply
A group of lawyers and Non-Governmental Organizations (NGOs) under the aegis of Lawyers In Defence of Economic Rights (LIDER) have praised the recent decision of the Central Bank of…
NNPC Sold N234bn Petroleum Products In March
The Nigerian National Petroleum Corporation (NNPC) said its downstream subsidiary, the Petroleum Products Marketing Company (PPMC), sold N234.63 billion worth of petroleum…
Manufacturers Back CBN’s Ban of FX Sale to BDCs
Members of the Manufacturers Association of Nigeria (MAN) have strongly supported last week’s decision by the Central Bank of Nigeria (CBN) to discontinue with the weekly sale…
NIN-SIM linkage: MTN Nigeria lost 7.6m subscribers in 6 months
MTN Nigeria, the largest network by market share, says it lost 7.6 million mobile subscribers in the first half of 2021. This is a 9.9 percent decline…
Is customer king under CBN?
When Central Bank of Nigeria (CBN) Governor Mr Godwin Emefiele assumed office on June 4, 2014, he pledged to run a people-oriented central bank. Twice he has led the…
Shell appoints Elohor Aiboni first female MD for exploration company SNEPCO
Global energy firm, Shell, has announced the appointment of Mrs. Elohor Aiboni as the Managing Director of its Nigeria deep-water business, Shell Nigeria Exploration and Production…
2021 first half: Dangote Sugar records strong growth
Dangote Sugar Refinery recorded strong improvements in performance indices in half year ended June 30, 2021, as group revenue increased by 27.8 percent to N131.95 billion in…
Dangote Cement posts resilient performance in first half 2021
Africa’s largest cement producer, Dangote Cement has announced resilient results for the six months ended 30th June 2021 as Group sales volumes hit 15.3Mt. According to the…
Forex sale: ABCON to identify erring members for sanction
Bureau De Change (BDC) operators that violated Central Bank of Nigeria (CBN’s) guidelines on foreign exchange (forex) sales will be identified for sanctions, the Association…
FCMB GETS $50M FROM AFDB, INCREASES LENDING TO HIGH IMPACT BUSINESSES
Women empowered businesses and local enterprises involved in agribusiness, manufacturing, health care, and renewable energy will have access to long term funding from First City Monument…
Shareholders hail Wale Tinubu over Oando settlement with SEC
Months after a plethora of court cases with counter judgements, the investment community was greeted on the evening of July 19, with the news of a settlement to the dispute…
Awaiting Lekki Seaport’s take off
The Minister of Transportation, Rotimi Amaechi, was in Lagos recently to examine the level of work at the Lekki Deep Seaport. OLUWALEMI DAUDA,who was on the…
We’re still providing FX services despite CBN order — BDCs
The Association of Bureaux De Change Operators of Nigeria has assured members of the public that Bureau De Changes still provide foreign exchange services. The ABCON…
IMF kicks against adoption of cryptocurrencies as legal tender
The International Monetary Fund has kicked against the adoption of cryptocurrencies, like bitcoin and ethereum, as legal tenders. In a blogpost titled ‘Crypto assets as national…
CBN orders banks to create mobile app for forex
The Central Bank of Nigeria has directed commercial banks to create mobile applications and alert systems to update customers of their foreign exchange movement. This…
CBN to refund deposits to BDC promoters
Sequel to the decision of the Central Bank of Nigeria to stop the licensing of Bureau de Change operators, the apex bank has announced that it will commence the immediate…