AfDB pumps $540m into Nigeria’s Agro-Industrial Processing Zones
The African Development Bank (AfDB) has announced a whopping $540 million disbursement to the first batch of states that submitted applications for the Special Agro-Industrial Processing Zones. This is fantastic news for Cross River, Imo, Kaduna, Kano, Kwara, Ogun, Oyo,…
NGX Group mourns the loss of Wigwe, former Chairman, Ogunbanjo
Nigerian Exchange Group Plc (NGX Group) is deeply saddened to acknowledge the tragic passing of our former Group Chairman, Bamofin Abimbola Ogunbanjo, OFR, and the Group Managing Director of Access Holdings Plc, Dr. Herbert Wigwe, CFR, along with his wife…
EFCC freezes N3b traced to Hadi Sirika’s brother’s account.
According to The Nation Newspaper, EFCC quizzed and arrested Abubakar Ahmad Sirika, brother of immediate-past Minister Hadi Sirika over an alleged N8.06 billion contract fraud in the Federal Ministry of Aviation. Of the contract sum, about N3.2 bn was traced…
Senate assures SEC, NGX on capital market-driven reforms
The Chairman, Senate Committee on Capital Market and Institutions, Osita Izunaso has assured the commitment of the Senate in driving legislative reforms that would propel the Nigerian capital market to new heights. He made this promise when he led delegation’s…
NGX Raises learning with Latest StockTown Comic Book on Financial Literacy
Nigerian Exchange Limited (NGX) is pleased to announce the release of the latest edition of the NGX StockTown, a unique comic book designed to promote financial literacy among the younger generation of Nigerians. NGX StockTown is the realization of a…
EFCC recovers N30bn from Sadiya Umar-Farouk’s looted funds
The Economic and Financial Crimes Commission (EFCC) has said it recovered over N30bn from the N37,170, 855,753.44 allegedly laundered in the Ministry of Humanitarian Affairs under the former minister, Sadiya Umar-Farouk. Sources in the anti-graft agency, who spoke with our…
CBN Again, Hikes Import Duty By 42.5%
Twice in two straight months, the Central Bank of Nigeria (CBN) has raised customs duty from N951.941 per dollar to N1,356.883/$. This development requires that the importers raise more funds to clear their cargoes at the seaports, airports and landborders….
CBN hikes Int’l Money Transfer Application Fee for Banks, Fintechs
The Central Bank of Nigeria (CBN) has barred banks and financial technology companies (fintechs) from international money transfer services with hike in application fee. The apex bank announced the new development in the revised guidelines for the operations of IMTOs,…
How To Grow Your Business, Make More Money with PalmPay
Considering current e-Commerce realities, the right financial tool can gravitate from the more technical accounting software and payroll management tool to the less complicated but secure digital payment platform and Point of Sales (POS) machine. Big on secure digital payments,…
Stanbic IBTC Holdings posts impressive earnings growth
Stanbic IBTC Holdings (STANBIC) has released its FY 23 unaudited results, showcasing Pre-tax profit growth of 72.4% y/y, and Net profits climbing by 76.4% y/y to N137.58bn, marking the highest increase over the past five years. In Q4 23 alone,…
