Every quarter, Nairametrics reviews some of the banking sector mobile apps available for downloads at your favorite app stores with the aim of giving you the top 5 banking apps. The mobile banking space is taking shape in Nigeria and is reminiscent of the craze for branch expansion experienced...
It's now 4 years since the NCC introduced Mobile Number Portability (MNP) in the Nigerian telecoms sector. Back in May 2013 when the NCC introduced number portability, it was seen as revolutionary and one that would  give power of choice to consumers. 4 years after, nothing much has changed. Data...
President Muhammadu Buhari has approved the appointment of a former Deputy Governor of the Central Bank of Nigeria, Mr. Tunde Lemo, as the Chairman of the Board of Federal Roads Maintenance Agency (FERMA). His Profile Tunde Lemo is a fellow of the Institute of Chartered Accountant of Nigeria as well as...
Since I have not gotten a detailed information about what transpired, I will be writing purely as an outsider. This post will be based strictly on publicly available information. To start with, Damilola Teidi the CEO of GoMyWay took an unconventional route of “announcing” that the business is shutting down....
The National Bureau of Statistics released data on Nigeria's crude oil production value and volume from 1961 to 2014. The data shows Nigeria had a production volume of about of 32.7 billion barrels of crude oil since independence, valued at about N118.4 trillion. Here are a few nuggets from the data; ...
President Muhammadu Buhari  in a letter sent to the Senate, nominated Aishah Ahmad as the new deputy governor of the Central Bank Of Nigeria (CBN). The President also nominated Adeola Adenikinju; Aliyu Sanusi; Robert Asogwa and Asheikh Maidugu as members of the Monetary Policy Committee of the CBN to replace...
A bond is a fixed income debt instrument issued by the government (federal or state government) or corporate institutions with a definite date of maturity and a fixed interest payment (known as coupon) payable either semi-annually or annually. The government usually issue bonds at the primary market to raise domestic...
CAP Plc, a subsidiary of UACN Plc is in the paintings and coatings business. The company was established originally as ICI investments limited in 1957, but became ICI Nigeria Limited in 1965. Following the promulgation of the Indigenization decree in 1972 and 1977, ICI Nigeria Limited sold 40%, and...
My dear Nigerians, October 1st remains a special date for all Nigerians as this marks the day when we attained one of the most precious of human desires — freedom. Over the years the country has gone through trials and tribulations, but October 1st is always a day for celebrations. It is...
This article is for any of our I just Got Back (IJGB) Nigerians who are relocating from abroad for the first time. We are sure you have had friends, family members and acquaintances who have had a torrid time getting by in Nigeria especially having spent most of their...
“Large firms are more productive and more profitable than their more modestly-sized counterparts. They also pay higher wages and are more competitive in international markets. Not surprisingly, economically more successful countries have a greater share of large firms.” The above statement is a key summary from a recent paper published...
Here is something you’ve probably not heard regarding agriculture in Africa, African farmers are old. Think about it for a second. Do you know anyone that owns a farm? What is the age of this person? According to the United Nations Development Programme (“UNDP”) dataset, the average Kenyan farmer is...
Funds transfer in Nigeria has come a very long way. Today, if you want to transfer money to your kid in a University located in another state, all you need to do is open your banking application and punch in the amount, select bank and beneficiary and in seconds...
One of Nigeria's most popular stockbroking firms, Meristem Securities, listed the following stocks as one to watch this week. This was contained in a report sent to its subscribers and we thought to share with you, our readers. As usual, contact your financial adviser if you require any financial advice....
As is customary ahead of the start of its two day monetary policy retreat for September 2017, the Central Bank of Nigeria (CBN) released the personal statements of members of the monetary policy committee (MPC) from the July meeting. In one of the statements, Dr. Doyin Salami, stated that...
A member of the Central Bank Monetary policy committee Dr Doyin Salami, recently expressed worries that the NPL (non performing loans) of banks was above regulatory limits and was on the rise. According to him, combining the four fringe banks that were undercapitalized would equate to a Systematically Important...
MERISTEM: The Nigerian equities market closed on a positive note, rebounding slightly from last week’s loss. The Nigerian Stock Exchange All Share Index (NSEASI) inched higher by 1.38% WoW (0.50% ex-DANGCEM) to close at 35,488.81 points. The volume of trades advanced by 22.26% as 16,070 deals worth NGN60.54trn were concluded....
Issue on Offer/Summary On the 13th of September 2017, the Federal Government of Nigeria (FGN), through the Debt Management Office (DMO), rescheduled the bond auction for the 20th of September 2017. Read: How to invest in FGN Bond Hence, the DMO will be conducting the bond auction on Wednesday the 27thof...
If you have been hanging out with entrepreneurs and tech guys (they like to be called Tech-preneurs), you will come across a popular tech-preneur jargon called “scaling”. You see these days everyone wants to “scale”. So let’s quickly define what “scaling” is “scaling” is about growing revenue at an exponential rate...
States in the Federal Republic of Nigeria have a total local debt of about N3 trillion as at June 2017 compared to N1.2 trillion in December 2011. In a little under 7 years, our states have grown their local debt by a whopping 16% annually (using compounded annual growth rate). The...
Unemployment has currently become a trend, not by choice but because of the turn of economic events in the country. Living without a job is a horror to imagine especially with the now high cost of living. There are so many businesses one could venture into but lack of capital...
In the minutes of the last Monetary Policy Committee (MPC) meeting released yesterday, two members of the committee dropped hints some banks may be facing operational challenges. The MPC is the body saddled with the function of setting interest rates in the country, and is a subset of the...
This is a short account of the activities that underpinned Dangote Flour Mills’ remarkable 288% share price rally in 2016. The precursor to this, was Tiger Brands’ disastrous investment in a couple of Nigerian FMCG companies. Sometime in 2012 a South African Company named Tiger Brands decided to acquire...
This is a narration on a stock market phenomenon called 14.29. It explains how the stock prices of some listed companies act suddenly to achieve determined outcomes, often in a way that surprises small investors and stock traders. The term 14.29 was coined by a very good friend of the...
This story delves into the world of corporate mind games, maneuvers and one of the deftest company takeovers ever seen in Nigeria It all began in 1977, when 3 young Nigerian Doctors, who just returned from overseas decided to come together to setup a hospital. One of them practiced Medicine,...
This is a story of Nigeria's biggest indigenous oil and gas company, a 61-year-old entity that was morphed over the years by a combined dose of ballsy youthfulness, ruthless ambition and the kind of opportunity that can only be found in an emerging economy. The story begins with a historical...
There have been debates among consumers regarding what brand of sugar leads the pack in terms of quality and value for money. To the unacquainted user, all table sugar is sugar, without any distinguishing factor, since they all take the form of white shiny crystalline grains. But this is...
When you prepare a set of accounts to International Financial Reporting Standards (IFRS), one of the things you are required to do is disclose any ‘related party’ transactions. The accounting standard that covers this disclosure requirement is IAS 24. Here’s what the IFRS website says about IAS 24: The objective of...
Investor: Can you share your idea? Entrepreneur: I want to revolutionize the transport system in Lagos. I want to “disrupt” all these danfos Investor: So how are you going to achieve this disruption? Entrepreneur: I am building an App, to be downloaded from Google Play Store. People will then be able to...
According to the Nigeria Stock Exchange’s (NSE) X-compliance report for August 2017, AMCON executed a block divestment of its stake in Niger Insurance Plc amounting to 724.3 million shares in favour of Etha Ventures Limited at 0.54 kobo per share. Approval for the deal was granted by the NSE...