Business

Banks have begun to increase interest rates on deposits in line with the sustained hike in the Monetary Policy Rate, MPR, by the Central Bank of Nigeria, CBN. At its last Monetary Policy Committee, MPC, meeting previous week, CBN raised MPR by another 25 basis points the sixth consecutive raise …

•As NERC grants license to Ekiti IPP Consumers in the country paid N247.1 billion for electricity in the first quarter of 2023, an increase of 1.14 percent compared to N243.65 billion paid in the fourth quarter of 2022, the latest report from the Nigerian Electricity Commission, NERC, has shown. In …

Britain’s Foreign Secretary James Cleverly walks outside Number 10 Downing Street in London, Britain, October 18, 2022. REUTERS/Toby Melville UK Foreign Secretary, James Cleverly, has announced a new partnership between Nigerian Exchange Limited (NGX) and the UK government in Mobilising Institutional Capital Through Listed Product Structures (MOBILIST). Cleverly disclosed this …

File Photo: Electricity power station The Port Harcourt Electricity Distribution Company (PHED) has begun the adoption of modern innovations to improve service delivery to customers in its four franchise states. The states include Akwa Ibom, Bayelsa, Cross River and Rivers. The PHED’s Managing Director, Dr Benson Uwheru made this known …

Customers’ preference for the recently introduced Emirates Premium Economy has surged to a record high, with over 160,000 trading up, thereby setting new industry benchmarks in Premium Economy travel.  Emirates is delightfully celebrating this banner first year of full-service operations with the highly popular cabin class, introduced in August 2022.  …

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has entered into exciting partnerships with three health-based organisations aimed at creating  robust synergy to enhance customer experience. UBA’s partnership with MedPlus Pharmacy Nigeria, I-Fitness Gym Nigeria, and Oriki Spa and Wellness Centre is expected to drive financial inclusion, promote brand loyalty and promote healthy lifestyle in the ever-evolving societal landscape. Group Head, Marketing …

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC has introduced its newly upgraded Enterprise Online 2.0 platform specifically designed to cater to the needs of businesses. The enhanced platform aims to provide business clients with an effortless and enhanced online banking experience. The enhanced platform has undergone …

By Mohammed Usman One of the major highlights of the new administration of President Bola Ahmed Tinubu has been the suspension of the payment of subsidy for premium motor spirit, PMS, commonly called petrol. Though there have been so many reforms introduced into the system since inauguration on May 29, …

Naira and Dollar The Naira on Monday appreciated against the dollar, exchanging at N756.94 at the Investors and Exporters window. The local currency gained 2.43 per cent when compared with N775.76 which it exchanged for the dollar at the close of business on July 28. The open indicative rate closed …

Destroyed shops in Awka About 100 microbusinesses have been relocated in the Ukwu-orji, Ekwulobia Street, and Ministry of Land areas surrounding the Anambra government house. The displacement was engineered by the Awka Capital Territory Development Authority (ACTDA), which acted under the protection of Nigeria Security and Civil Defence Corps (NSCDC) …