The Managing Director of the Nigerian Ports Authority (NPA), Mr Mohammed Bello-Koko, has said that the agency is expected to generate N629.89 billion in 2024 while asking for a N200 billion loan from Afrexim Bank. Bello-Koko stated this while defending…
FBN Holdings Plc, Nigeria’s leading financial institution, has undergone significant changes to its board of directors with the appointment of five new executives coinciding with the assumption of office by its billionaire chairman, Femi Otedola. The announcement of Otedola’s appointment…
Leading Financial Institution, Fidelity Bank Plc in partnership with Lagos Business School (LBS) hosted the 15th edition of its sustained Export Management Programme (EMP 15) to train entrepreneurs on the opportunities in the international market and develop their capacity to…
The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukayode has commended the collaboration of the Corporate Affairs Commission’s (CAC) efforts in the fight against corruption and other financial crimes in the country. The EFCC boss…
The Nigeria Customs Service has announced a downward review of the FX duty rate from N1,593.41/$ to N1,572.507/$ on Tuesday, March 19, as per information sourced from its official trade portal. This adjustment marks a 1.3 percent reduction compared to…
According to a report presented by the Executive Secretary of the Nigeria Extractive Industries Transparency Initiative (NEITI), Dr. Ogbonnaya Orji, the Federal Accounts Allocation Committee (FAAC) disbursed a total of N10.14 trillion to the federal government, 36 states, and 774…
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…
Nigeria’s cement companies are going through a rough patch despite rising market product prices. Rising input and logistics costs and falling exchange rates have made cement-making difficult. A senior executive of one of the big three product manufacturers who requested…
The Nigeria Customs Service has responded to the recent appreciation and stabilisation of the naira at the official foreign exchange (FX) market by further reducing the foreign exchange rate used for computing import duties. On Monday, March 18, the Central…
The eleven Electricity Distribution Companies (DisCos) in Nigeria obtained a combined N273.34 billion loan from the Central Bank of Nigeria to purchase 414,000 meters and enhance their distribution capacity nationwide. This is contained in a recently released report from CBN…
