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Finance & Economy - Page 279

Elumelu Appointed Seplat Energy Non-Executive Director as Board Restructures

Seplat Energy Plc has appointed billionaire investor and philanthropist, Mr Tony O. Elumelu, CFR, as a Non-Executive Director on its Board, with effect from January 22, 2026, following recent changes in the company’s ownership structure. The appointment comes on the heels of

January 23, 2026

Finance & Economy

Nigeria’s Top 5 Banks’ Earnings Rise Above N1.5trn, Profit Up By 39.4%

Despite the backdrop of the positive growth reported for the Nigerian economy in the second quarter 2021 amidst the adverse effect of the COVID-19 pandemic and the drop in Nigeria oil production, a few numbers of commercial banks have recorded impressive growth

November 24, 2021

Finance & Economy

CBN Retains MPR At 11.5%, Holds Other Parameters Constant

The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has retained the Monetary Policy Rate (MPR) at 11.5%, while keeping all other monetary parameters constant. The CBN Governor, Godwin Emefiele, disclosed this in a statement at the end of the 282nd

November 24, 2021

Finance & Economy

YANGA ACCOUNT: Retail Lender, Unity Bank Targets Nigeria’s 21 million ‘Excluded’ Women

The new Yanga Account will incorporate affordable health insurance scheme for women and seek to deepen penetration currently crawling at two per cent In its continuing demonstration of commitment to financial inclusion and women empowerment, Nigeria’s retail lender, Unity Bank Plc has

November 24, 2021

Currency·Markets

Exchange Rate Update: Nov 23,2021

According to the data at the FMDQ Security Exchange where forex is traded officially, the exchange rate between the naira and the US dollar opened at ₦413.53/$1 on Monday, November 19 after it closed at ₦414.40 to a $1 on Friday. Also,

November 23, 2021

Finance & Economy

FG To Remove Fuel Subsidy, Give Nigerians N5,000 transport grant

Federal government has revealed plans to remove fuel subsidies by mid 2022. Minister of Finance, Budget and National Planning, Zainab Ahmed, made the revelation on Tuesday at the World Bank Nigeria Development Update (NDU). According to her, fuel subsidies will be replaced

November 23, 2021

Agro-Economy

FG Launch First Ever Agricultural Radio, Television Studio

NIGERIA’S Federal government has launched the first ever Agricultural Research Council of Nigeria (ARCN) radio and television studio at the Council’s headquarters in Abuja. Minister of Agriculture and Rural Development, Dr Mohammad Abubakar, said aside from launching the first ever agricultural radio

November 23, 2021

Agro-Economy

16 Niger Women Cooperatives To Get SMEDAN N5.2m Start-up Grants

In its quest to boost women entrepreneurship, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has stated that it would support 16 women cooperative societies in Niger with a N5.2 million grant to start agri-businesses.

November 23, 2021

CBN Threatens Importers With Sanction After Launching FX Price Verification System

Finance & Economy

Nigeria’s Apex Bank Lowers Standards For Agric Loans Worth Less Than N100,000

…Issues Guidelines, Says No Tangible Securities, Feasibility Reports Needed The Central Bank of Nigeria (CBN) has said that banks are not expected to demand tangible securities and feasibility reports for loans of N100,000.00 (One hundred thousand naira) and below, under the Agricultural

November 22, 2021

Chams, PZ, Others Drive Equity Market To N874bn Gain As ASI Appreciates By 1.92%

Currency·Markets

Exchange Rate Update: Nov. 22, 2021

According to the data at the FMDQ Security Exchange where forex is traded officially, exchange rate between the naira and the US dollar opened at ₦413.53/$1 on Monday November 19 after it closed at ₦414.40 to a $1 on Friday. Also, at

November 22, 2021

Africa·Finance & Economy

Ghana’s 1.7% Tax On Electronic Transactions Harmful, Says Prof. Ukpong

Ghana’s intention, as indicated by its Finance Minister Ken Ofori-Atta, to levy electronic transactions will harm its already struggling economy. Leo Ukpong, a professor of Financial Economics and Dean, School of Business and Entrepreneurship at the American University of Nigeria, said this

November 22, 2021

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Nigeria Tightens Rules for Courier Companies Using Prepaid Imports

Nigeria’s customs authority has introduced new rules for courier companies

Behind the Geregu Power Sale: Politics and a $750m Deal

The sale of Geregu Power, one of Nigeria’s largest electricity

Recapitalisation: UBA Extends Deadline For Rights Issue

UBA Hits Billion-Naira Milestone: Rights Issue Success Pushes Capital Base Above ₦500bn

United Bank for Africa (UBA) has successfully concluded its rights

GivTrade Secures UAE SCA Category 5 Licence

GivTrade, an international multi-asset brokerage providing access to global markets

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Finance & Economy - Page 279

Elumelu Appointed Seplat Energy Non-Executive Director as Board Restructures

Nigeria’s Top 5 Banks’ Earnings Rise Above N1.5trn, Profit Up By 39.4%

CBN Retains MPR At 11.5%, Holds Other Parameters Constant

YANGA ACCOUNT: Retail Lender, Unity Bank Targets Nigeria’s 21 million ‘Excluded’ Women

Exchange Rate Update: Nov 23,2021

FG To Remove Fuel Subsidy, Give Nigerians N5,000 transport grant

FG Launch First Ever Agricultural Radio, Television Studio

16 Niger Women Cooperatives To Get SMEDAN N5.2m Start-up Grants

Nigeria’s Apex Bank Lowers Standards For Agric Loans Worth Less Than N100,000

Exchange Rate Update: Nov. 22, 2021

Ghana’s 1.7% Tax On Electronic Transactions Harmful, Says Prof. Ukpong

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Finance & Economy - Page 279

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