Investors have reduced their patronage of Federal Government of Nigeria Savings Bonds by 27 per cent following the 13 basis points, bpts, cut in interest rate by the Debt Management …
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- AfricaBanking, Finance & InvestmentNewsNigeriaWestern AfricaZenith Bank
Zenith Bank ranks number one Bank in Nigeria
Zenith Bank Plc has been ranked as the Number One Bank in Nigeria with $2.75 billion Tier-1 Capital for the 13th year in a row. The ranking, which was published in …
- AfricaEnergyNewsNigeriaOil & GasWestern Africa
EU partners FG to fast-track gas infrastructure for European markets
The European Union (EU) in partnership with the Federal Government of Nigeria has expressed renewed interest to put mechanism in place to fund gas project in Nigeria to guarantee energy …
- AfricaBusiness and EconomyNewsNigeriaWestern Africa
Nigeria’s fuel subsidy is estimated at N6.7tn for 2023
The Federal Government of Nigeria will spend N2.7 trillion on fuel subsidy payment in 2023. The Minister of Finance, Budget, and National Planning, Zainab Ahmed, who disclosed this during the …
- AfricaBusiness and EconomyFinance & ServicesNewsNigeriaWestern Africa
Nigeria’s debt payment exceeds revenue in Q1
Debt servicing surpassed Nigeria’s generated revenue in the first quarter of this year, the Ministry of Finance revealed on Thursday. In the fiscal performance report released by the ministry, the …
- AfricaFinance & ServicesNewsSouth AfricaSouthern Africa
South Africa central bank raises key rate to 5.5%
South Africa’s central bank raised its benchmark interest rate by three-quarters of a percentage point to 5.5 percent on Thursday — the steepest hike in a decade. The move — …
The National Grid on Wednesday suffered another system collapse resulting in blackout in some parts of the country. The Eko Electricity Distribution Company (EKEDC) confirmed the development in a statement …
Bread makers have said they would commence a four-day warning strike tomorrow, July 21 to protest the unbearable cost of doing business in Nigeria. In a statement on Wednesday, the …
- AfricaBanking, Finance & InvestmentNewsNigeriaWestern Africa
CBN to place restriction on accounts of Nigerians converting Naira to the US dollar.
The Central Bank of Nigeria (CBN) has issued a stern warning to Nigerians converting Naira to the US dollar. According to CBN, it would place a post-no debit on bank …
President Muhammadu Buhari on Tuesday unveiled the new Nigerian National Petroleum Company ( NNPC) Limited, a landmark event that officially changes the oil firm from a wholly state-run entity to a …