Business

  The removal of the fuel subsidy in Nigeria caused a sharp strengthening of price pressures in June. In turn, rates of expansion in output and new orders softened but remained marked nonetheless. Business confidence dipped to a near-record low. Intensifying inflationary pressures encouraged companies to expand inventories to try and get ahead of further price increases. Meanwhile, …

—Assures them of policy consistency —-As Shell Director hails President’s strong start, positive reforms President Bola Tinubu, on Monday, assured investors that his administration is open and serious for business and will maintain consistency in policy. The President also promised to provide a better business climate to attract investment. He …

Central Bank of Nigeria building The Central Bank of Nigeria on Monday sought the partnership of the Federal University of Technology, Akure, Ondo State, in adopting the newly introduced digital currency known as eNaira. The apex bank urged the university to adopt the new system for financial transactions within the …

Zenith Bank Plc has retained its ranking as the Number One Bank in Nigeria by Tier-1 Capital in the 2023 Top 1000 World Banks’ Rankings, published by The Banker Magazine. For the fourteenth year in a row, the Bank has held its position as the number one Tier-1 bank in …

Following the removal of fuel subsidy in Nigeria, the World Bank has projected that inflation may hit 25 per cent in 2023 against the country’s already existing 22.41 percent inflation rate. This shows that Nigeria is 2.59 per cent points away from the World Bank projection according to the recent …

Wema Bank PLC, the leading financial institution in Nigeria and the pioneer of Africa’s first fully digital bank, ALAT, yesterday announced the launch of the highly anticipated 3rd season of the Wema Bank 5 for 5 promo. This reward program, initiated by Wema Bank, aims to recognize and reward customers …

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings PLC has reaffirmed its unwavering commitment to securing a prosperous future for its customers. During the highly successful 2023 edition of the Annual Employers Forum, Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers emphasized this dedication towards helping their …

FirstBank has launched an industry first Humanoid Robot at its Adetokunbo Ademola VI, Lagos Digital Experience Centre (DXC) Branch The robot is among the phased configuration of the bank’s state-of-the-art digitally led self-service branch The Humanoid Robot is equipped with Video Banking and Artificial Intelligence (AI), taking on the role …

  Nigeria: June 30: Africa’s Global Bank, United Bank for Africa (UBA) Plc, on Monday, signed an agreement with the Africa Continental Free Trade Area (AfCFTA) Secretariat to provide financing for up to US$6.0bn over the next 3 years to eligible SME across Africa. UBA signed the agreement with AfCFTA on …

Central Bank of Nigeria building In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria injected another sum of $17.81bn into the inter-bank foreign exchange market in 2022. According to the CBN’s ‘Financial markets department annual activity report 2022’, this was a slight increase …