Asian markets mostly fell, although Chinese stocks were higher, as traders wait to see how Tehran could respond. One option on the table would be to potentially create economic havoc by seeking to close the strategic Strait of Hormuz, which carries one-fifth of global oil output. Iran is the world’s ninth-biggest oil-producing country, with an […]
Cybersecurity firm DevSecFlow has unveiled its advanced security operations platform, SECOYA, designed to offer intelligent, efficient, and scalable cyber defence capabilities for financial institutions and highly regulated organisations across the country. The disclosure was made on Sunday in a statement, following an exclusive executive breakfast session hosted by the company on Wednesday, June 11, 2025, […]
The World Bank has allocated $40m to support the expansion of financial protection for poor and vulnerable Nigerians under a new loan-backed health programme approved for the country. The loan project, approved by the World Bank on September 26, 2024, includes a $500 million credit facility from the International Development Association and a $70.01 million grant […]
In a statement on Tuesday, the bank said it complies fully with International Financial Reporting Standards, including IFRS 9, which guides the classification of loan performance. These practices, it noted, are detailed in its 2024 financial statements and supported by an external audit. Fitch, in a 4 June report, cited concerns that debt owed to […]
Stocks mostly rose on Tuesday as the latest round of China-US trade talks entered its second day. One of Donald Trump’s top advisers said he expected “a big, strong handshake.” There is optimism that the negotiations, which come after the US president spoke to Chinese counterpart Xi Jinping last week, will bring some much-needed calm […]
This was contained in the latest rating commentary on the development bank, which was issued by the rating company, where it affirmed BoI’s Long-Term Issuer Default Rating at ‘B’ and its National Long-Term Rating at ‘AAA(nga)’ with a stable outlook. Earlier in May, the Federal Executive Council approved the ‘Nigeria First’ policy, aimed at strengthening […]
In a statement released by its Deputy Director, Kolawole Oluwadare, SERAP’s suit followed a landmark judgment by the Supreme Court last July, which held that allocations from the Federation Account with the CBN must be paid directly to democratically elected local government councils and that no governor has the power to keep, control or use […]
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced that a scheduled maintenance shutdown of the Port Harcourt Refining Company (PHRC) is scheduled to commence on May 24, 2025. In a statement released by the Chief Corporate Communications Officer, Femi Soneye, the NNPC said the shutdown is part of a planned maintenance and sustainability […]
The new rates according to the Africa’s largest refinery now ranges from N875 to N905 per litre, marking a N15 reduction per litre. The new price regime was announced by the refinery via its official social media handle earlier today. It stated that this applies to all major fuel marketers in partnership with the refinery, […]
CBN Governor Yemi Cardoso announced the decision in Abuja following the 300th Monetary Policy Committee (MPC) meeting. Mr Cardoso said that all 12 MPC members voted unanimously to hold key monetary parameters. The committee retained the cash reserve ratio at 50 per cent for deposit money banks and 16 per cent for merchant banks. The […]