The Minister of Communications and Digital Economy has tasked Information Technology professionals to prioritise the safety and security of the country’s cyberspace. Dr Isa Pantami made the call on Tuesday during his address titled, “The Imperatives of Cybersecurity for a…
The Board of Governors of the International Monetary Fund (IMF), has approved a general allocation of Special Drawing Rights (SDRs) equivalent to $650 billion (about SDR 456 billion) to boost global liquidity. In a statement issued on Tuesday in Washington…
Deposit Money Banks (DMBs) on Monday commenced sales of dollar at N412 to retail customers that meet required documentations. This is in compliance with the new Foreign Exchange (FX) regulation by the Central Bank of Nigeria (CBN), commercial banks have…
Average yields across fixed income instruments contrast as financial system liquidity improves. Thus, in the money market space, pressure on interbank rates eased following robust system liquidity. The overnight lending rate contracted by 200 basis points to 5.8per cent, in…
The Rural Electrification Agency (REA) has announced the provision of $550m in funding by the World Bank (WB) and the African Development Bank (AfDB) to support the implementation of its off-grid solution projects. Mr Ahmed Abubakar, Communication Expert, REA, who…
Following the recent directive by the Central Bank of Nigeria (CBN) on the sale of foreign exchange (forex) to all bank users nationwide, commercial banks have started reaching out to their esteemed customers about their readiness and creation of teller…
Transcorp Hotels Plc has announced its un-audited financial statements for the half year ended June 30, 2021. The results published on the Nigerian Exchange Group showed that revenue rose by 84% to N8.4bn from N4.5bn in June 2020, while total assets rose by 5.27% to N119bn from N113bn during the period under review. Shareholders’ funds stood at N61bn, maintaining…
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 Bank (FCMB), courtesy of a $50m credit facility from the African Development Bank (AfDB).…
Dangote Cement, has posted a Profit After Tax (PAT) of N191.6 billion, after a tax charge of N89.6 billion in its unaudited results for the half year ending on June 30. Africa’s largest cement producer, Dangote Cement has announced resilient…
The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has decried the shallowness of Africa’s financial market as depicted by the fact that no African exchange is among the Morgan Stanley developed markets index. He maintained that only…
