Lagos, Nigeria - In a strategic move to fortify its financial position amidst evolving market dynamics, Ecobank Transnational Incorporated (ETI) has inked a significant deal with the African Export-Import Bank (Afreximbank) and Africa Finance Corporation (AFC). Ayo Adepoju, ETI's group chief financial officer, disclosed this groundbreaking development in a...
United Bank for Africa Plc has introduced a product called UBA Connect to deepen intra-African trade and enable customers to make cash withdrawals in local currencies
A statement said the service would enable customers of the bank to conduct traditional banking transactions at any UBA branch in the 20 African...
The Central Bank of Nigeria (CBN) has confirmed changes in the foreign exchange market.
In a statement on Wednesday night, Angela Sere-Ejembi, Director, Financial Markets, confirmed the changes.
She said all transactions will now be done through the Investors and Exporters (I&E) window, where the exchange rate will be determined by...
The Lagos State Commissioner for Tourism, Arts and Culture, Pharmacist (Mrs.) Uzamat Akinbile-Yusuf, a Nigerian comedian and actor, Atunyota Alleluya Akpobome, popularly known as Ali Baba and other stakeholders in the Tourism and Entertainment industry will, on Wednesday, May 20, 2020, meet to discuss issues bordering on revamping the...
Despite the directive of the Central Bank of Nigeria to merchants to stop the deduction of additional N50 on Point of Sales transactions, some outlets have yet to comply with the directive.
Our correspondent who monitored the rate of compliance with the directive observed that many of the filling stations...
Dangote Industries Ltd. plans to ensure that Nigeria becomes self-sufficient in cement, agriculture, mining and petroleum products.
The Regional Sales Director, Southeast Dangote Cement, Dr Abayomi Shittu stated this in Enugu on Thursday during Dangote Special Day at the on-going 34th Enugu International Trade Fair.
Dangote Industries Ltd. is into cement,...
Telecommunication giant MTN on Tuesday closed its case over an alleged N300m copyright infringement suit involving an Abuja-based musician, Liberty Williams.
Nkeakam Abhulimen, a staff of MTN and Chris Anusa, a staff of Defcom Technologies, both appeared as witnesses for MTN at the Federal High Court, Abuja before Justice Ifeoma...
The World Bank has predicted that Nigeria’s economy will grow by 2.1 percent in 2020, adding that growth in the West African Economic and Monetary Union is expected to stabilise at 6.4 percent.
The bank made the prediction in its January 2020 Global Economic Prospects which was released on Wednesday.
Nigeria’s...
Shareholders of one of Africa’s largest manufacturing companies, BUA Cement Plc, have approved dividends of N88.047billion for its financial year ended December 31, 2021 at N2:60k per ordinary share of 50k each.
This approval was given during the company’s 6th Annual General Meeting held in Abuja, and comes on the...
The Nigerian Stock Exchange (NSE) has warned newly inducted stockbrokers against unethical practices as the Exchange will not hesitate to sanction any stockbroker that violates its rules.
Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr Oscar Onyema, said the Exchange has a zero tolerance policy on all infractions and it...
