Lenders increase unsecured loans to households in Q3 2019 – CBN
The latest credit condition survey report released by the CBN disclosed that unsecured lending to households increased in the third quarter (Q3) of 2019.
AMCON debt could rise to N6.6 trillion by 2024 – Expert
A legal consultant and Senior Partner at a law firm, Muyiwa Balogun expects the debt of AMCON to rise from N5 trillion to N6.6 trillion in 2024.
Guaranty Trust Bank records 3.3% profit increase in Q3 2019
Guaranty Trust Bank Plc has become one of the first few Nigerian companies to release their unaudited financial results for the third quarter period ended September 31st, 2019.
Twitter warns political figures to abstain from fake, misleading statements
Social media platform, Twitter has cautioned political figures against spreading false and misleading statements for violating its terms of services.
Nigerians are still raging over government’s border shutdown as effects bite hard
Many Nigerians have continued to vent their anger/frustration over the government’s decision to close the country’s borders.
IMF enjoins CBN to unify exchange rate, here’s why
The International Monetary Fund (IMF) has recommended that the Central Bank of Nigeria unifies the exchange rate system for stronger economic growth in the country.
NECA foresees possible retrenchment in labour market
Stakeholders and industry experts have been reacting to the 2020 budget since its presentation by President Muhammadu Buhari.
Border Closure: Ghana begs Nigeria to open its borders
The Republic of Ghana has begged Nigeria to re-open its borders through its Foreign Minister and Regional Integration, Shirley Ayorkor Botchwey.
Inflation quickens to 4-month high of 11.24% on food, utilities
Official data released by the National Bureau of Statistics (NBS), consumer inflation quickened to a four-month high of 11.24% y/y
Nigeria borrows N754 billion in 3-month, total debt now N25.7 trillion
Nigeria’s total debt stock rose to N27.7 trillion (US$83.8 billion) as of the end of June 2019.
LDR: Growing the real sector by fiat? Part 1
The CBN recently mandated Commercial Banks in the country to maintain a minimum Loan to Deposit Ratio (LDR) of 60% by 30th September 2019.
PwC proposes possible solutions to the biggest problem facing Nigeria’s electricity sector
Anyone living in Nigeria can testify that insufficient electricity production/distribution is the biggest infrastructural challenge facing the country.
FG moves to clamp down on tax evaders in mining sector
Federal Government has reiterated its commitment to clamp down on tax evaders and revenue leakages in the mining sector
NAICOM boss cautions boards against interference in management activities
The acting commissioner of NAICOM, Sunday Thomas has advised Boards of Directors of insurance firms to ensure sound management of the companies without interfering in management decisions.
Budget 2020: Oil workers to earn N75 billion
The salaries and allowances workers of the Ministry of Petroleum Resources and four other parastatals will earn in 2020 is N74.65 billion.
AIICO increases authorised share capital to N18 billion
AIICO Insurance Plc has received shareholders’ approval to increase its authorized share capital from N10 billion to N18 billion.
NNPC boss blames failure of refineries on negligence, says there are no excuses
The Group Managing Director of NNPC, Mele Kyari admitted that there is no excuse for the failure of Nigeria's refinery to work.
GSK, Courteville, lead worst-performing stocks on Tuesday
GlaxoSmithKline Consumer Nigeria Plc, led the losers chart in today's trades on the floor of the Nigerian Stock Exchange (NSE).
IMF warns against uncertainty surrounding global economy weakness
The International Monetary Fund (IMF) cut its global growth forecast in its October 2019 World Economic Outlook (WEO).
Oando launches Graduate Accelerated Programme for fresh graduates
Oando Plc has launched its Oando Graduate Accelerated Programme (OandoGAP) to create job opportunities for recent graduates.
NSE refunds capital market fraud victims
The Nigerian Stock Exchange (NSE) disclosed that it recovered the sum of 70 million from capital market fraud in 2018.
Six Modular Refineries billed to commence operation, FG says
Six modular refineries have been granted licenses to operate, following the decision of the FG to prioritize the growth of local content.
EFG Hermes seals Helios Towers’ £288 million IPO on LSE
EFG Hermes has concluded its advisory on the £288 million worth Initial Public Offer (IPO) of Helios Towers.
What the NSE’s amended pricing methodology is expected to accomplish
The Nigerian Stock Exchange recently announced an amendment to its pricing methodology.
Infinity Mortgage Bank releases 9-month financial result, posts 32.6% increase in profit
Infinity Trust Mortgage Bank Plc has experienced a 32.6% increase in profit after tax for the nine months period ended 30 September 2019.
Nigeria earns over N103 billion from cocoa export in 2018
Nigeria earned over N103 billion from cocoa commodity export in the year 2018. This was disclosed by Mr. Segun Awolowo, the CEO of NEPC.
Trade: Customs ban imports and exports via land borders
The Nigerian Customs Service (NCS) has announced an indefinite total closure of the border to any form of import or export of goods in any category.
Onoro appointed as acting MD, PAL Pensions
Godwin Onoro has been appointed as the acting Managing Director of Pensions Alliance Limited.
Dangote Flour Mills shareholders unanimously approve company acquisition
The shareholders of Dangote Flour Mills Plc have unanimously endorsed the acquisition of the company by Crown Flour Mills Limited.
Nigeria Weekly Update: Effects of closing the Seme border
Of all recent government policies the recent closure of the border with the Republic of Benin to goods is having the most immediate effects on prices.