Nigeria’s Central Bank Works To Slash Wheat Importation By 60%
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, on Thursday restated the bank’s commitment to improve local production of wheat and reduce importation by 60 per cent over the next two years. He also urged Nigerians not to panic over the current prices of major food items as the prices will […]
SEC Hits The Rock When Court Nullifies The Removal of Oando Directors Security Commission
A Federal High court sitting in Kano on Thursday overruled the removal of directors of Oando Plc by the Securities and Exchange Commission (SEC). In the ruling, it stated that SEC acted arbitrarily in suspending the management of Oando and, therefore, declared the appointment of the interim management null and void. The court awarded a […]
Former Bank CEO Aig-Imoukhuede Says Nigeria’s Insurance, Asset Management Sectors Must Be Transformed
The immediate past Chief Executive Officer of Access Bank Plc, Mr. Aigboje Aig-Imoukhuede, has stressed the need for the transformation of the insurance and asset management sectors in order to deepen the country’s financial services sector. This, he said, would help position the sectors to the same level as the banking sector in order for […]
Zenith Emerges Best Bank in Nigeria Back-to-Back
Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Magazine’s Best Banks Awards 2021, retaining the award for a second consecutive year. The bank was among other banks from 35 countries in Africa recognised as the United States magazine announced its 28th Annual Best Bank Awards Winners in Africa. […]
Nigeria Awards 57 Marginal Oilfields to 161 Bidders
Nigeria’s federal government has announced the conclusion of the bid round for the award of 57 marginal oilfields, won by 161 of the bidding companies. The 161 successful bidders emerged from a pool of over 600 indigenous oil companies that jostled for the 57 marginal fields in the process that commenced in June 2020. The […]
Prince Harry Joins $1.7bn US Counseling Startup
Britain’s Prince Harry on Tuesday added to a growing portfolio of post-royal jobs, becoming “chief impact officer” at a San Francisco startup that provides mobile-based coaching, counseling, and mentorship. Amid a highly public spat with Buckingham Palace, Harry and his American wife Meghan Markle, a mixed-race former television actress, now live in California after stepping […]
NNPC Defends Plan To Fix Port Harcourt Refinery For $1.5bn, Says New One Will Cost $12bn
The Nigerian National Petroleum Corporation (NNPC) on Monday vigorously defended the approval of a whopping $1.5 billion for the rehabilitation of the Port Harcourt refinery, maintaining that apart from following due process, building a new refinery in the class of the one in Rivers will cost the federal government between $7 billion and $12 billion. […]
FG Considers Reopening Of Kano, Enugu, Port Harcourt Airports – Minister
Nigerian authorities are considering the reopening of three international airports in the country, said the Minister of Aviation, Hadi Sirika. The affected aviation facilities are the Mallam Aminu Kano International Airport in Kano State, the Akanu Ibiam International Airport in Enugu State, and the Port Harcourt International Airport in Rivers State. In his remarks on […]
Turkish Lira Plunges After Erdogan Sacks Central Bank Governor
Turkey’s lira plunged 15 percent to near its all-time low after markets opened following President Tayyip Erdogan’s shock weekend decision to sack a hawkish central bank governor and install a like-minded critic of high interest rates. The appointment of Sahap Kavcioglu, a former banker and ruling party lawmaker, in the early hours on Saturday, marked […]
Oil Giant Saudi Aramco Sees 2020 Profits Drop 44% To $49bn
Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets. Saudi Arabian Oil Co. released its annual financial results a year after the pandemic sent the price of oil crashing to all-time lows as […]
