CBN issues FX code as Naira gains
The Central Bank of Nigeria, CBN, on Monday released the Nigeria Foreign Exchange (FX) Code as the Naira appreciated against the dollar at the black market. The apex bank disclosed this in a statement on Monday. According to the CBN, the FX Code became necessary to mitigate risks following various
FG gives traders one month to crash prices
By Ariwodo praise izuchukwu The Federal Competition and Consumer Protection Commission has given a one-month moratorium to traders and other market stakeholders involved in exploitative pricing to crash the prices of goods. The newly appointed Executive Vice Chairman of the FCCPC, Mr Tunji Bello, said this at a one-day stakeholders
US data boosts Asian, European markets
By Ariwodo praise izuchukwu Asian and European markets rose Friday after a record day on Wall Street, boosted by a strong round of United State data that reassured investors over the health of the world’s top economy, while focus turns to the release of key inflation figures. Next up is
PEBEC releases 2024 report
By Ariwodo praise izuchukwu The Presidential Enabling Business Environment Council (PEBEC) unveiled its 2024 Half-Year Transparency and Efficiency report on Tuesday, showcasing substantial progress achieved by Nigerian Ministries, Departments, and Agencies (MDAs) in enhancing transparency and efficiency. The Nigerian Content Development Board (NCDMB) topped the list with an impressive score
What Every Business Should Know
By Ariwodo Chidinma Favour In the modern business landscape, corporate governance and compliance have emerged as cornerstones of sustainable success. These concepts are not merely legal requirements but strategic imperatives that help businesses build trust, manage risks, and create long-term value. Understanding the principles of corporate governance and the importance
Grossvend Nigeria Partners with AliExpress Amidst Local Card Restrictions in Nigeria
Grossvend Ecart Limited is a retail company that is registered under the Corporate Affairs Commission which has its trading name as Grossvend. In the dynamic world of e-commerce, adaptability and strategic foresight are key to thriving, especially in markets facing unique challenges. In Nigeria, one such challenge has emerged with
Banking System Remains Resilient – CBN
The Central Bank of Nigeria (CBN) has disclosed in its statements on monetary policies that as at the end of 2022 the banking system has continued to be resilient with major financial soundness. The CBN Governor, Godwin Emefiele noted that there was noticeable growth caused by the substantial overshoot of
CBN raises lending rate to 16.5 per cent to end inflation
The Central Bank of Nigeria, CBN has raised its lending rate to 16.5 per cent in a bullish move to stymie rising inflation and pressure on the naira, the country’s currency. The governor of the Central Bank of Nigeria CBN, Godwin Emefiele made this disclosure on Tuesday at the end
Equity market dips by N127bn
The Nigerian equities market on Thursday reversed its three-day bullish streak due to profit-taking, mainly in stocks of Airtel Africa. Accordingly, investors gained N127 billion or 0.52 per cent as market capitalisation went down to N24.306 trillion from N 24.433 trillion the previous day. Accordingly, the All-Share Index (ASI) declined
Banks, OPS brainstorm on synergy for economic growth
Nigerian banks and the organised private sector (OPS) will address critical areas of concerns and strategies to create sustainable synergy between the financial services sector and other businesses. At the first National Stakeholders Conference on Synergy between the Nigerian Banking Industry and the Organized Private Sector (OPS), top financiers, economic