This clarification comes in response to recent speculations and reports suggesting that new charges had been introduced following the launch of the Non-Resident Bank Verification Number, NRBVN, platform for Nigerians abroad. The Bank’s Acting Director of Corporate Communications, Hakama Sidi Ali, noted the fee mentioned in some media outlets is tied exclusively to the new […]
Enugu State-owned commercial airline, Enugu Air, is set to officially launch its operations on Monday, July 7, 2025. The launch ceremony will take place at the Akanu Ibiam International Airport, with the Minister of Aviation and Aerospace Development, Festus Keyamo, expected to attend alongside other dignitaries, according to a statement from the airline. The Commissioner […]
This comes as petroleum product marketers plan an emergency meeting to drop fuel prices from Tuesday. The President of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, disclosed this in an interview. “It is true. Dangote Refinery reduced its petrol ex-depot price to N840 from N880 per litre on Monday. We are happy.“Our members […]
The local currency had recorded a N25 appreciation against the dollar since the beginning of the week, when it traded at N1,600 per dollar in the parallel market. Naira appreciated to N1,537 per dollar in the Nigerian Foreign Exchange Market, NFEM.Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for […]
It also adjusted its petrol pump price to ₦915 per litre at several of its Lagos retail outlets, marking a fresh upward shift in the downstream retail market. The latest increase marks a fresh spike of N45 and N35 in Lagos and Abuja, respectively, up from the previous prices of N870 and N910 per litre. […]
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 […]