The Nigerian National Petroleum Company Limited and Daewoo Engineering and Construction Nigeria Limited, on Thursday, signed a contract of $740.67m (N341.48bn as at Thursday’s official exchange rate of N461.04/$) for the rehabilitation of Kaduna Refining and Petrochemical Company Limited.
Both parties signed the deal at the Abuja headquarters of NNPC, as the Executive Vice President, Downstream…
The coronation said the shortage of currency could continue after the election.
February 2, 2023
Coronation Merchant Bank has predicted that foreign exchange liquidity crisis affecting the economy may linger futher.
The Chief Economist of Coronation bank, Chinwe Egwim made this known via a statement on Wednesday while speaking on the launch of its 2023 Economic Review…
Economists say limited demand for currency swaps and other central bank policies could lower inflation in January.
They note that changes in the structure of the currency and the cashless policy pursued by leading banks may not have a long-term effect in curbing inflation in…
Heifer International’s sponsored agritech storage solution, ColdHubs, has launched its solar-powered facility for smallholder farmers and sellers of perishable farm produce at the ABAT CBD Market in Ibeju-Lekki.
The agritech company made this know during the launch on Tuesday in Lagos which was witnessed by farmers, traders and government officials.
The Country Director of Heifer…
The clearing agent has challenged shipping company Grimaldi’s plan to charge 25,000 naira for issuing a personal identification number.
Agents say that the increase in commissions of companies for the exchange of PIN-codes will have a negative impact on importers.
PIN…
Dangote Industries Limited announced that it has signed a contract with China Sinoma International Engineering to build a 6 million tonne/year cement plant in Itori, Ogun State.
According to a statement from the company, the agreement was signed by Aliko Dangote, chairman of…
The stock market started the new month with a fourth straight gain as the market reached 142 billion naira on Wednesday at the bottom of the Nigerian stock exchange.
The Jeonju Index closed at 53,499.68 points, up 261.01 points and 0.49% from the previous trading day.
Thus, investors acquired a value of 142 billion naira as the market capitalization increased to 29 trillion.
The rally was fueled…
Nigerian state oil company Gas Marketing Limited opened a gas distribution office in Ikeja, Lagos on Monday.
Built by Tilt Energy Limited, the facility includes multiple offices, including conference rooms, reception areas, waiting rooms, and a truck loading station to…
According to KUDA, customers' money is safe in case of problems with the application.
February 1, 2023
Neo bank, Kuda, has allayed the fears of its customers who have been unable to access their money since Tuesday owing to glitches on its app.
The bank said the customers’ money was safe and it was working on fixing the issue with the app, adding that customers would be…
International Credit Ratings Agency Downgrades Credit Ratings of 9 Nigerian Banks.
February 1, 2023
An international rating agency, Moody’s Investors Service, has downgraded nine Nigerian banks following its downward review of Nigeria’s rating last week.
The downgraded banks include: Access Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Guaranty Trust Bank Limited, Union Bank of Nigeria plc, Fidelity Bank Plc, First City Monument Bank Limited, and…