Category: Business and Finance

The Monetary Policy Committee (MPC) met on the 23rd and 24th March 2020, amidst heightened uncertainty in the global macroeconomic environment arising from major disruptions associated with the outbreak of the Coronavirus Disease (COVID-19) and the oil price war between Saudi Arabia and Russia. The Committee assessed the developments in the global and domestic environments… Read More »

Prudential Zenith Life Insurance has launched a payment service which allows mobile phone customers in Nigeria to buy protection policies wherever they are. Customers who dial *5966# on their mobile phones will be able to purchase a life insurance or hospital cash plan policy in a matter of minutes. Speaking at the launch of the… Read More »

The Standards Organisation of Nigeria (SON) and the Nigerian Electricity Regulatory Commission (NERC) are set to rekindle the existing collaboration between the two agencies to promote increased local content in the production of electrical materials, personnel and facilitate export of certified made in Nigeria products. This indication was given during a courtesy visit of the… Read More »

The Standards Organisation of Nigeria (SON) and the Nigerian Electricity Regulatory Commission (NERC) are set to rekindle the existing collaboration between the two agencies to promote increased local content in the production of electrical materials, personnel and facilitate export of certified made in Nigeria products. This indication was given during a courtesy visit of the… Read More »

The Central bank of Nigeria (CBN) wishes to note with displeasure, the rumours and speculative activities of unscrupulous players in the foreign exchange market, borne out of the impression that the CBN is on the verge of devaluing the Naira, and triggering panic in the FX Market. These rumours are false, unwarranted and calculated to… Read More »

Delta Governor, Senator (Dr.) Ifeanyi Okowa, on Thursday, said oil-producing states deserved more than 13 per cent derivation from the Federation Account and demanded the release of the money already accruing to the states under the derivation principles. He made this known in Asaba when members of Post Mortem Sub-Committee of the Federal Accounts Allocation… Read More »

First Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of Year 2019 award at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit held recently at Transcorp Hilton, Abuja. The four-day event, comprising conference and award dinner, is acclaimed to be Nigeria’s Government official platform for the… Read More »

Earlier in the year, it was announced that Dr. Adesola Adeduntan, the Chief Executive Officer, First Bank of Nigeria Limited had been honoured with the coveted and renowned Cranfield School of Management Distinguished Alumnus of the year Award 2020. The recognition which was celebrated across Nigeria – the highpoint being the commendation by the country’s… Read More »

ABUJA – The Central Bank of Nigeria (CBN) on Friday, February 21, 2020, continued its intervention in the inter-bank foreign exchange market by injecting the sum of $292.34million into the retail Secondary Market Intervention Sales (SMIS). The Bank also intervened with the sum of CNY 22.8million in the spot and short tenored forwards segment of… Read More »

The Federal Government has embarked on measures to ensure a smooth enforcement of the newly enacted anti piracy law as part of efforts to stem criminality on Nigerian waters. This was revealed in Lagos at the annual Strategic Admiralty Law Seminar for Judges put together by the Nigerian Institute of Advanced Legal Studies (NIALS) and… Read More »