(AFRICAN EXAMINER) – The Association of the Bureau De Change Operators of Nigeria (ABCON) says the Nigerian currency Naira has appreciated faster than expected against the United States’ Dollar. Gwadabe said as of Tuesday afternoon, the BDC operators buy the dollar at N980/$1 and sell at N1,020/$1, as against the official rate of N1161/$1 by […]
(AFRICAN EXAMINER) – The Nigeria Deposit Insurance Company (NDIC) has reassured Nigerian depositors that it remains unwavering in its commitment to prompt reimbursement to depositors affected by failed banks in the country. Managing Director/Chief Executive of NDIC, Mr Bello Hassan stated this on the occasion of NDIC’s Special Day at the ongoing 35th Enugu International […]
(AFRICAN EXAMINER) – The Naira on Friday experienced huge appreciation at the official market, trading at N1,142.38 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira gained N88.23. This represents a 7.16 per cent gain when […]
(AFRICAN EXAMINER) – ANAMMCO, a Nigerian Commercial Vehicle Company, has urged governments at all levels and corporate organisations to prioritise patronage of locally vehicles to create employment and boost nation’s economy. General Manager of ANAMMCO, Ms Chinelo Igwe, made the call while addressing newsmen Thursday at the ongoing 35th Enugu International Trade Fair. The fair, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced its audited results for the year ended December 31, 2023, achieving a remarkable triple-digit growth of 125% in gross earnings from NGN945.6 billion reported in 2022 to NGN2.132 trillion in 2023. According to the audited financial results for the 2023 financial year presented to the Nigerian Exchange […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) said it has sold a total of $10, 000 to 1, 588 Bureau De Change (BDC) operators to meet retail market demand for eligible invisible transactions. A statement by the apex bank on Monday said the $10, 000 sale was at the rate of N110/$1, adding […]
(AFRICAN EXAMINER) – Africa’s Global Bank, United Bank for Africa (UBA) Plc, has unveiled a Quick Response solution code, qrdispute.ubagroup.com:8088 called the ‘Scan to Resolve Complaint’ Portal with code aimed at enhancing satisfaction and swiftly addressing customers’ disputes. The first of its kind innovative platform marks another significant step by the bank to revolutionise customer service […]
(AFRICAN EXAMINER) – Prominent Traditional rulers from Dangote Cement Ibese host communities have commended the leadership ingenuity of the outgoing Plant Director, Azad Nawabuddin saying his pleasant personality has boosted the cordial relationship between the cement company and the host communities. It was a moment of accolades for Mr. Nawabuddin, during a send forth ceremony […]
(AFRICAN EXAMINER) – A total of 1.3 trillion naira worth of revenue has been generated by the Nigeria Customs Service in the first quarter of 2024. Speaking during a press briefing on Wednesday, the Comptroller General of Customs, Adewale Adeniyi, explained that over 572 seizures were made with a duty-paid value of N10bn. He said, […]
(AFRICAN EXAMINER) – Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards […]
(AFRICAN EXAMINER) – Imposition of 5 per cent annual tax on private schools in the Federal Capital Territory (FCT) would be injurious to business and drive the school owners out of business. The submission was made on Saturday in Abuja by the National Association of Proprietors of Private Schools (NAPPS), reiterating its immediate reaction when […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has unveiled new minimum capital requirements for banks, pegging the minimum capital base for commercial banks with international authorisation at ₦500 billion. A circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed […]
(AFRICAN EXAMINER) – The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has hiked the benchmark interest rate by 200 basis points to 24.75 percent. This is according to a Tuesday communique by the CBN governor Yemi Cardoso after the second MPC meeting of his tenure in Abuja. The new interest rate […]
(AFRICAN EXAMINER) – As the naira gradually appreciates against the dollar after months of unprecedented uncertainties, the Central Bank of Nigeria (CBN), on Monday, announced the sales of $10,000 to each of the eligible Bureau De Change (BDC) operators in the country at the rate of N1,251/$1. In a circular to the President of the […]
(AFRICAN EXAMINER) – The Debt Management Office (DMO) of Nigeria has disclosed that Nigeria’s public debt rose to ₦97.34trn ($108bn) as of the fourth quarter of 2023. DMO made this known in a statement made available to journalists on Friday. This increase in debt levels was basically attributed to new domestic borrowing initiatives undertaken by […]
(AFRICAN EXAMINER) – The Nigerian National Petroleum Company (NNPC) Ltd has reiterated its commitment towards utilizing Nigeria’s abundant gas resources to trigger Nigeria’s industrialisation and economic development. NNPC Ltd’s Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan disclosed this during a Panel Session at the ongoing 2024 CERAWeek Conference in Houston, the United States on Tuesday. […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) has announced that all valid foreign exchange backlogs of s$7 billion have now been settled, fulfilling a key pledge of its Governor, Mr. Olayemi Cardosoo. In a statement on Wednesday, the apex bank’s Acting Director, Corporate Communications, Mrs Hakama Sidi Ali, in Abuja confirmed that independent […]
(AFRICAN EXAMINER) – The Central Bank of Nigeria (CBN) says the 294th meeting of the Monetary Policy Committee (MPC) will begin on Monday, March 25, 2024. In a Tuesday post on its X handle, the CBN said the two-day event is scheduled for Monday, March 25, and Tuesday, March 26, 2024, at the bank’s headquarters […]
(AFRICAN EXAMINER) – Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji, OON, as Group Managing Director/Chief Executive with effect from June 1, 2024, subject to approval by the Central Bank of Nigeria (CBN). She takes over from Dr. Ebenezer Onyeagwu, whose five-year term expires on May 31, 2024, after a very […]
(AFRICAN EXAMINER) – The inflation rate has moved to 31.70 per cent in February, according to the latest data by the National Bureau of Statistics (NBS). The Bureau released the figure on Friday, with the latest data showing a rise from the 29.90 per cent recorded in January 2024. According to the ‘Consumer Price Index […]
