Economy

Election Day 4 ahead: Naira Chaos has devastated the economy.

The chaos trailing the cash scarcity has assumed a worrisome dimension with the organised private sector raising the alarm that the crisis has grounded the economy. Members of the organised private sector including the Lagos Chamber of Commerce and Industry, Nigerian Employers Consultative Forum, Nigerian Economy Summit Group, Nigerian Association of Small and Medium Enterprises and the Nigerian…
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Markets

Stock Investors lost N281 billion in a week.

Stock investors lost N281bn at the end of trading on the floor of the Nigerian Exchange Limited last week. The NGX All-Share Index and market capitalisation depreciated by 0.96 per cent and 0.95 per cent to close the week at 53,804.46 and N29.310 trillion respectively. Also…
Markets

Nigerian Investment Promotion Commission.

The Nigerian Investment Promotion Commission has commenced the development of a well- coordinated investment promotion ecosystem Act, to enable government and non-government investment promotion players to undertake mutually reinforcing and complementary roles to attract, retain and grow investment in Nigeria. The Executive Secretary, NIPC, Saratu Umar, disclosed this in Abuja at the…
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Banking

Ecobank rewards customers for using digital channels.

Ecobank has rewarded four customers with N1m each for using the electronic payment channels of the bank regularly. During the cheque presentation at its super rewards event in Lagos, the bank said it introduced the programme to promote the use of its electronic payment…
Banking

Gratitude from Premium Trust Bank.

PremiumTrust Bank has received ‘Nigeria’s Fastest Growing Bank 2022’ and ‘Bank of The Year 2022 (Sports Development)’ awards from the Management of BusinessDay Banks & Other Financial Institutions Awards Committee. The management of BAFI Awards noted that…
BankingEconomy

The naira crisis worsened as the currency in circulation fell to 1.54 trillion naira.

As the Naira crisis worsened, the total amount of money in circulation in the Nigerian economy fell from 3.3 trillion naira to 1.54 trillion naira, according to documents from the Central Bank of Nigeria. This was due to a huge shortage of new naira banknotes, while a dire shortage of the old currency caused great hardship and suffering for millions of Nigerians and left some stranded. According…
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Agriculture

Farmers have lower FG scores for food security.

Farmers in the country under the aegis of the United Integrated Farmers Association of Nigeria have scored the regime of the President, Major General Muhammadu Buhari (retd.), low in tackling the nation’s current food crisis. The organisation said there had not been…
Banking

New naira: Banks will ensure workers’ safety – CIBN

The Chartered Institute of Bankers of Nigeria on Friday said it was liaising with the Body of Banks’ Chief Executive Officers to address the current challenges occasioned redesign of the N1,000, N500, and N200 notes. It said the banks would continue to remain open to serve the public as long as it was safe to do so. It, however, said the safety of bank workers was paramount. Several…
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