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The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso on Friday, February 9, said the apex bank will no longer grant Ways and Means Advances to the federal government unless the outstanding balance is settled. The apex bank also said it has halted “quasi-fiscal measures” of over N10 trillion it pays under the guise of development finance interventions. ... Read More »

In what has been termed a significant milestone in the advancement of Nigeria’s domestic gas industry and the generation of gas revenues, Temile Development Company Ltd -a key indigenous player in the oil and gas industry- recently commissioned a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) Carrier. Named ‘Alfred Temile 10’, the vessel was part-financed by leading Nigerian bank ... Read More »

At least 1,500 members of staff of the Central Bank of Nigeria will on Friday resume at its Lagos office following their redeployment from the headquarters, Newsthumb has learned. A source at the apex bank told our correspondent exclusively that the plan, though heavily criticised, was still in motion, and affected staffers would be resuming on Friday. “Yes, the plan ... Read More »

The NOVAmbl Asset Management’s Dollar Fixed Income Fund has been named as the best-performing Dollar Fund in 2023 by Nairametrics, the leading financial information and content creation company based on data from the Securities & Exchange Commission (SEC). NOVAmbl Asset Management is a subsidiary of NOVA Merchant Bank. SEC had reported that a total of 21 dollar funds registered during ... Read More »

As part of its Corporate Social Responsibility (CSR) initiatives designed to empower Nigerian youths with quality education, leading financial institution, Fidelity Bank Plc, has launched a creative writing competition for secondary school students dubbed Read2Lead. Themed Read2lead, the three-stage competition would see secondary school students hone their reading and writing skill while competing for millions of naira in cash rewards, ... Read More »

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, has said the Federal Government will be saving N8tn annually from the fuel subsidy removal and exchange rate unification policies. Oyedele spoke during a panel session at the Lagos Chamber of Commerce and Industry 2024 Economic Outlook and Budget Analysis. He, therefore, said it was critical for ... Read More »

Ecobank, the leading pan-African financial services group, unveils its new brand campaign ‘A BETTER WAY | A BETTER AFRICA’ yesterday, at the TotalEnergies CAF Africa Cup of Nations Côte d’Ivoire 2023 (AFCON). Ecobank is a proud official sponsor of the TotalEnergies CAF Africa Cup of Nations Côte d’Ivoire 2023 and is leveraging the unifying, exhilarating, and progressive spirit of African ... Read More »

In line with its mission of empowering businesses and young innovators across Africa, HabariPay’s Squad has announced the launch of its first-ever hackathon, “Take on Squad Hackathon 1.0.” The social coding event is scheduled to hold on January 19th and 20th 2023, at the state-of-the-art GTCO Training Complex, Tayo’s Plaza, Abeokuta, Ogun State. Take on Squad Hackathon 1.0 is targeted ... Read More »

Merchant Bank Limited, a leading merchant bank in Nigeria, has announced that it is set to begin its conversion to full Commercial Banking Business following its recent requisition of the national commercial banking license from the relevant authorities.To this end, the Bank has appointed Mr. Adebowale Oyedeji, as the new Managing Director and Chief Executive Officer to effectively stir its ... Read More »

President Bola Tinubu has just signed the N28.78 trillion 2024 Budget into law at the Presidential Villa, Abuja. President Tinubu, who arrived his office from the airport at exactly 2pm, headed straight for the brief budget signing ceremony, surrounded by senior government officials. Among those with the President while he signed the budget were the President of the Senate, Senator ... Read More »