archiveMay 2017

A recent rise in oil revenues has helped the central bank to defend the naira and stabilise the parallel market foreign exchange rate, central bank governor Godwin Emefiele said on Thursday. Nigeria has suffered from dollar shortages as a slump in oil revenues has hammered the currency and dried up...

Facebook Founder, Mark Zuckerberg, says the social media platform had 1.3 billion daily active users as at first quarter of 2017. Zuckerberg said on his Facebook page on Wednesday that users increased by 18 per cent on a year-over-year basis. He said the Monthly Active Users (MAUs) was 1.94 billion...

According to a notice sent to the Nigerian Stock Exchange by the company and pasted on the Exchange website on Thursday the Managing Director of the Nigerian Breweries Plc, Mr. Vervelde has resigned from the company. The resignation is to enable him take up a new role within the Heineken...

Farmers benefitting from the Central Bank of Nigeria (CBN) Anchor Borrowers’ Programme have repaid over seven billion Naira from the loans they got. The nation’s apex bank said on Wednesday. The bank said this was contrary to claims that the farmers were unwilling to pay back their loans. The CBN...

The equities market closed bullish on Wednesday as Nigerian Stock Exchange All Share Index (NSE ASI) gained 151.61 basis points, representing an increase of 0.58 per cent to close at 26,116.79 basis points. Similarly, the Market Capitalization gained N52.41 billion, representing an increase of 0.58 per cent to close at...

The three-man Presidential Investigative Panel set up by President Muhammadu Buhari, GCFR, under the chairmanship of Vice President Yemi Osinbajo, SAN has completed its assignment on Wednesday and is scheduled to present its reports to the President on Monday, May 8, 2017. The Committee was set up to inquire into...

The Managing Director, Wema Bank Plc, Mr. Segun Oloketuyi has said the financial institution is targeting three million customers by 2020 with the launching of ALAT, said to be the first fully digital bank in Nigeria. Oloketuyi said Wema Bank was happy to power ALAT as the first Digital Bank...

Amnesty International has accused the Nigerian government of stifling freedom of expression in the country. The group, in a statement released to mark the World Press Freedom Day on Wednesday, said the Federal Government has stepped up its attempt to crush press freedom. According to the group, “An escalating spate...

The Federal Government of Nigeria plan (FGN) is to auction 140 billion naira ($446 million) in bonds on May 10, the Debt Management Office (DMO) said on Wednesday. The debt office will sell 40 billion naira of bonds due in 2021 and 50 billion naira each of bonds due in...

MTN Group reported a 7.1 per cent rise in first-quarter group revenue helped by a strong performance in data services, Africa's biggest mobile phone operator said on Wednesday. Ratings agency Fitch downgraded MTN to junk status in April and gave it a negative outlook, citing weakness in the economic and...