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By Seun Ibiyemi The Debt Management Office (DMO) has announced plans to reopen two Federal Government bonds worth a combined ¦ 350 billion for public subscription, priced at ¦ 1,000 per unit. In a statement released yesterday, the DMO confirmed that the auction is scheduled for 28 April, with a settlement date set for 30 ...
The European Commission on Wednesday levied a total of €700 million in fines against Apple and Meta, accusing the US tech giants of breaching the European Union’s Digital Markets Act (DMA), which aims to rein in the dominance of large online platforms operating within the bloc. Apple was fined €500 million, while Meta received a ...
...As pension assets hit N23trn The National Pension Commission (PenCom) has recovered ¦ 1.58 billion from non-compliant employers through intensified enforcement actions, as part of its drive to strengthen Nigeria’s pension system. This was disclosed by the Director General of PenCom, Ms Omolola Oloworaran, on Wednesday in Kano, during the First Run 2025 Consultative Forum ...
By Matthew Denis The Nigeria Customs Service (NCS) has announced a total revenue generation of N1.75 trillion for the first quarter of 2025, marking a 29.96 per cent increase compared to the same period in 2024. This achievement, disclosed by the Comptroller-General of Customs, Bashir Adewale Adeniyi, during a press briefing at the Service’s headquarters ...
eTranzact Plc has reiterated its commitment to regulatory compliance and financial security, positioning itself at the forefront of Nigeria’s efforts to strengthen its global financial reputation and combat cyber threats. The Managing Director and Chief Executive Officer of eTranzact, Mr Niyi Toluwalope, made this known in a statement issued on Tuesday, following a high-level training ...
...Says global growth to decline to 2.8% in 2025 By Seun Ibiyemi The International Monetary Fund (IMF) has lowered its economic growth projections for Nigeria for both 2025 and 2026, citing a combination of domestic economic pressures and deepening global uncertainties. In its latest World Economic Outlook report, published on Tuesday during the ongoing 2025 ...
The International Monetary Fund (IMF) has projected that global growth will decline to 2.8 per cent in 2025, as significant policy shifts continue to unfold across the world IMF. This projection is contained in the IMF’s latest World Economic Outlook (WEO) Update for April 2025, titled “A Critical Juncture Amid Policy Shifts”, released on Tuesday. ...
By Matthew Denis The Comptroller General of Nigeria Customs Service (NCS), Bashir Adeniyi Adewale has disclosed that the service has generated a whopping total of N1.765 trillion in the First quarter of 2025 He made the disclosure during a press conference on the first quarter report of the activities of the service held in Abuja ...
By Seun Ibiyemi The Centre for the Promotion of Private Enterprise (CPPE) has voiced strong objections to the proposed Raw Materials Research and Development Council (RMRDC) Bill currently under review by the National Assembly, cautioning that its provisions could negatively impact Nigeria’s export and manufacturing industries. The bill seeks to impose a ban on the ...
The Manufacturers Association of Nigeria (MAN) has assessed the country’s manufacturing performance for the second half of 2024, revealing mixed results across several key indicators. The Director-General of MAN, Mr Segun Ajayi-Kadir, disclosed the findings during a report presentation titled “MAN Economic Review – Second Half 2024” on Monday in Lagos. Key indicators reviewed in ...
By Seun Ibiyemi Officials from the Nigerian Airspace Management Agency (NAMA) have initiated important flight checks at the Gateway International Airport in Ogun State, marking a significant milestone towards the commencement of commercial flight services. The checks, carried out throughout the week, represent the beginning of the validation process for the airport’s aviation procedures. During ...
Oil and gas experts have urged the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Ltd. (NNPCL), Mr Bayo Ojulari, to prioritise adherence to the rule of law and the Petroleum Industry Act (PIA) 2021, stressing that these principles are crucial for fostering transparency, accountability, and boosting investor confidence in the sector. ...
Tier -one financial institution, Fidelity Bank Plc has rewarded 30 lucky customers with various cash prizes for emerging winners in the Get Alert in Millions season 6 (GAIM 6) promo second and third monthly; and International Women’s Day Draws. At a recent prize presentation ceremony held at the Fidelity SME Hub in Lagos, the bank's ...
The International Monetary Fund (IMF) has called on Nigerian authorities to maintain a tight monetary policy in order to bring inflation under control and strengthen the country’s economic resilience. Axel Schimmelpfennig, the IMF’s mission chief for Nigeria, made the recommendation in a statement released on Friday following a two-week consultation visit to Lagos and Abuja. ...
By Seun Ibiyemi Indigenous shipowners and maritime stakeholders across Nigeria have lauded the Minister of Marine and Blue Economy, Adegboyega Oyetola, for directing the Nigerian Maritime Administration and Safety Agency (NIMASA) to commence the long-overdue disbursement of the Cabotage Vessel Financing Fund (CVFF). This directive, issued on April 15, signals a major turning point after ...
…End this drain on investors By Seun Ibiyemi Shareholders have expressed strong opposition to the ¦ 436.5 billion paid by seven Nigerian banks to the Asset Management Corporation of Nigeria (AMCON) in 2024, labelling the levy as a drain on investors’ returns and a sign that the corporation has overstayed its welcome. In separate comments ...
Ecobank Nigeria has reaffirmed its commitment to supporting the growth of Small and Medium Enterprises across various sectors of the economy. Ms Omoboye Odu, Head of SME, Partnerships and Collaboration, Ecobank, made this known on Friday during the second edition of the “Oja Oge” marketplace. The three-day event focuses on supporting SMEs in the fashion, ...
By Matthew Denis, Abuja The Minister of Arts, Culture and the Creative Economy, Hannatu Musawa, has urged stakeholders in Nigeria’s entertainment industry to collectively pursue innovative models for funding creative enterprises, particularly by embracing digital technologies and refining legal and regulatory systems to support entrepreneurs. Musawa made this known during the second edition of the ...
By Seun Ibiyemi The Managing Director and Chief Executive Officer of the Nigerian Railway Corporation (NRC), Dr Kayode Opeifa, has expressed confidence that the Federal Government will complete the reconstruction of the Eastern Railway line before the end of President Bola Tinubu’s first term in 2027. Dr Opeifa shared this view during his familiarisation visit ...
By Seun Ibiyemi The Vice President of Nigeria, Senator Kashim Shettima, has urged Ministries, Departments, and Agencies (MDAs) across the Federal Government to enhance cooperation and alignment with the Presidential Enabling Business Environment Council (PEBEC) in order to cultivate a more business-friendly environment in the country. Speaking on Wednesday during the closing session of the ...
By Matthew Denis, Abuja The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has reiterated the Federal Government’s dedication to achieving food security, while advocating for a more adaptive and resilient framework in agricultural policy and planning. Speaking in Abuja at the inaugural meeting of the Agricultural Sector Working Group (ASWG), ...
Nigeria and South Africa have formalised a new partnership aimed at revitalising mining cooperation between both countries, with a strong focus on investment, technical expertise, and technology transfer. The agreement, set out in a Memorandum of Understanding (MoU), was signed on Wednesday in Abuja by Dr Dele Alake, Nigeria’s Minister of Solid Minerals Development, and ...
By Matthew Denis Following the successful rollout of its Unified Customs Management System (UCMS), codenamed B’odogwu, the Nigeria Customs Service (NCS) has ramped up strategic consultations with key industry players to consolidate progress and push towards full integration of the new digital platform across the trade and financial ecosystems. In a recent virtual session, NCS ...
