CBN’s MPC Members In Agreement Crisis Over Growth, Inflation
The members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria, CBN, have indicated that the apex bank’s meeting in March was largely concerned with the twin problem of growth stimulant of economic growth and containment of inflation. The MPC is the highest monetary policymaking body in the Nigerian economy. The committee […]
Crypto Trading – Nigeria Emerges As The Biggest Market For Paxful
Maugre the ban on cryptocurrency trading in Nigeria, the country has emerged as the biggest market for Paxful, a global peer-to-peer fintech, and cryptocurrency trading platform, with an impressive volume which currently stands at $1.5 billion and 1.5 million users. As of April 2021, the top four countries by volume on Paxful aside from Nigeria […]
Fidelity Bank Confirms 53.9% PBT Growth In First Quarter 2021
Fidelity Bank Plc has confirmed a 53.9 percent growth in Profit Before Tax (PBT) to N10.1 billion for the first quarter ended March 31, 2021 (Q1’21) as against N6.6 billion posted in the corresponding period of 2020 (Q1’20). Features of the unaudited results, released at the Nigerian Exchange Limited (NGX) revealed that the net revenue […]
OPEC Resolves To Stick To Plan, Cancels Ministers’ Meeting
The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Tuesday resolved to stick to plans for a phased easing of oil production restrictions from May to July. The cartel, along with its partners known as OPEC+ also ditched plans to hold a ministerial meeting today since the group decided to adhere to policies […]
Nigeria’s Actual Daily Oil Production Unknown, NEITI Insists
The Nigeria Extractive Industries Transparency Initiative (NEITI) on Tuesday doubled down on its recent disclosure that Nigeria does not know its actual daily oil production. The Executive Secretary of the organisation, Dr. Ogbonnaya Orji, who spoke when he received the Accountant-General of the Federation (AGF), Mr. Ahmed Idris, in his Abuja office, said the Department […]
TAJBank Records Biggest Industry EPS Growth Rate
TAJBank, Nigeria’s non-interest banking services provider, has recorded the biggest earning per share (EPS) growth rate in the nation’s banking industry with its shareholders earning N11.82 per N1.00 share, representing an appreciation of 1,182% growth rate in the financial year 2020. This is even as the lender reported N845 million Profit After Tax (PAT) in […]
GTBank Matures Deposit To N3.7trillion In First Quarter 2021
Guaranty Trust Bank Plc has matured its total deposit for the first quarter ended March 31, 2021 (Q1’21) to N3.717 trillion, representing a 3.0 percent increase compared to N3.611 trillion recorded in Q1’20. The financial report of the bank for the period released in the Nigerian Exchange Limited, however, showed that the bank’s profit before […]
Wema Bank Accumulates Total Assets To N1 trillion In 2020
Wema Bank Plc has documented a total asset of N1 trillion for the financial year ended December 2020. Meanwhile, the bank has formulated a dividend payment of 4 kobos per share, making it the third consecutive year of paying dividends. The Chief Finance Officer of the bank, Tunde Mabawonku who gave updates on the results, […]
AU Set To Improve Intra-African Agricultural Trade
The African Union (AU) has set out strategies to construct industrial parks that will improve the manufacturing of agricultural products as well as the supply chain. The AU Commission (AUC) made this known during a forum it organized with the United Nations Food and Agriculture Fund (FAO) recently where it launched the framework to boost […]
FG Defects World Bank’s Claims On Poor Electricity Supply
The Federal Government has defected claims by the World Bank report which indicated that 78% of power consumers in Nigeria get less than 12 hours of daily electricity supply. The government in a statement issued by the Special Adviser to the President on Infrastructure, Mr. Ahmad Rufai Zakari, in Abuja, said it was unclear what […]
