Elumelu Commits To Boosting Gabon’s Infrastructure, Youth Empowerment
The Chairman of United Bank for Africa (UBA) Group and Founder of the Tony Elumelu Foundation (TEF), Tony Elumelu, has once again reaffirmed his commitment to the development of Gabon’s economy development following a high-level meeting with the President of Gabon, Brice Oligui Nguema earlier this week. Elumelu who was
Nigerian Government: Fear Of Massive Job Losses Is Why We Allow 50% Telecom Tariff Hike
The Federal Government has defended its decision to approve a 50 per cent tariff hike for telecommunications services, citing job protection for Nigerians and the need to prevent multinational firms from leaving the country. The Minister of Communications and Digital Economy, Dr Bosun Tijani, provided this clarification on Thursday, shortly
Naira Continues Depreciation Against Dollar At The Black Market
The Naira continued its depreciation against the dollar at the parallel foreign exchange market on Thursday. A Bureau de Change operator in Wuse Zone 4, Abuja, Abubakar Alhasan, told DAILY POST that the Naira dropped to N1500 per dollar on Thursday from N1490 exchanged on Wednesday. This showed that the
Nigerian Stock Market Records Fourth Decline As Investors At NGX Count Losses
Nigeria’s stock market has recorded four consecutive downturns within the week, with overall market performance declining by 0.11 percent on Thursday. During Thursday’s trading, the decline resulted in investors losing a significant N77 billion. This comes as the Nigerian Exchange Ltd. (NGX) market capitalisation fell by N77 billion, or 0.11
Group Backs NNPCL’s Reforms As Fuel Price Drop
A Niger Delta anti-pipeline vandalization group has backed the reforms championed by the Nigerian National Petroleum Company Limited to stabilise the country’s oil and gas downstream sector. The National Coordinator, Anti-Pipeline, Oil Theft & Illegal Bunkering Task Force, Pathfinder Fiawei, made this known in a statement on Tuesday. According to
Naira Appreciates Across Official, Black Markets To Begin On A Good Note
The naira appreciated against the dollar across parallel and official foreign exchange markets on Monday to begin the week on a good note. Data from the Central Bank of Nigeria showed that the naira appreciated to N1,497.11 per dollar on Monday from N1500.7 traded on Friday last week. This showed
Access Bank Gives Update As Nigerians Lament Service Disruptions
Nigeria’s leading commercial bank, Access Bank, has announced that customers can now transact online, withdraw cash at Automated Teller Machines, ATMs, and make Point of Sale, POS payments with its ATM cards, following a service disruption on Sunday. Access Bank disclosed this in a statement on Sunday after hours of
Naira Records First Depreciation Against Dollar Across FX Markets
The Naira dropped slightly against the dollar to end the week at both the official and parallel foreign exchange markets for the first time in the last five days. Central Bank of Nigeria exchange rate data showed that the Naira dropped to N1,500.7 against the dollar on Friday from N1,500.5
Commonwealth Peace Prize of £50,000 Was Won By Two Nigerians
Two Nigerians, James Wuye and Muhammad Ashafa, won the inaugural Commonwealth Peace Prize of £50,000. Accordingly, Wuye and Ashafa, the co-founders of the Interfaith Mediation Centre were recognised for their exceptional contributions to “peacebuilding and reconciliation” in Nigeria. The Commonwealth Secretary-General, Patricia Scotland, announced their win on Wednesday in a
Cardoso — Nigeria’s Inflation Drop Reflects Reality Of Consumption Patterns
The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso said Nigeria’s current Consumer Price Index is reflective of the reality of consumption patterns. Cardoso made this known on Thursday during a press briefing at the end of the 299th Monetary Policy Meeting in Abuja. His comments came as Nigeria’s