President Muhammadu Buhari has directed the Presidential Artisanal Gold Mining Development Initiative (PAGMI) to scale up its operations in the mining sector by ensuring that investments go beyond artisanal and small scale levels. Buhari, who spoke yesterday at the Presidential Villa when he received briefing by the Steering Committee and Management Team of PAGMI, asked the body to provide a ...

The presidency has given assurance to manufacturers on improved access to foreign exchange (forex) on raw materials that are not available locally. The assurance was given by President Muhammadu Buhari during an advocacy visit by the leadership of Manufacturers Association of Nigeria (MAN) to the State House in Abuja. Buhari said that the relevant ministry had been directed to revisit ...

The National President of Nigeria Agro Input Dealers Association (NAIDA), Kabiru Fara has faulted the Central Bank of Nigeria (CBN) on the disbursement of over N850 billion on Anchor Borrowers Program (ABP), yet rice is still expensive and not available in the market. Fara argued that the money spent so far by CBN on rice production if used to import ...

The Managing Director, African Alliance Insurance Plc, Joyce Ojemudia has said that there is a need for insurance operators to pay promptly. According to her, this will make the industry contribute significantly to Nigeria’s Gross Domestic Product (GDP). She noted that the company had paid ₦475 million claims to policyholders this month, ahead of yuletide. She noted that the company ...

One of the new banks in Nigeria Titan Trust Bank Limited has perfected plan take over Union Bank of Nigeria Plc. The intimation was made by  Secretary of Union Bank, Somuyiwa Sonubi, disclosed this in a statement on Thursday. Sonubi said that  the Board of Directors of Union Bank has received a notification from Union Global Partners Ltd. (UGPL) – ...

The upper legislative chamber, Senate has passed a 2022 budget of N17.126 trillion against N16.391 trillion naira as presented by the president. It was learnt that N3.8 trillion is earmarked for debt service, N6.9 trillion recurrent non-debt expenditure while N5.4 trillion is for capital expenditure. The upper house also increased the benchmark price of crude from 57 to 62 dollars ...

Union Bank of Nigeria (UBN) Plc has partnered with Kucheza, a gaming company, to organise another edition of the Mobo Game Jam. UBN’s Edu360 is supporting the social innovation competition for the second consecutive year. Also supported by United Kingdom (UK)-based Digital Schoolhouse, MoboGame Jam is an annual game-making competition which sees young innovators between the ages of eight and ...

Despite being the largest producer of fish in Africa, Nigeria has spent about N500 billion on fish import in the last 11 months. Findings revealed that the higher cost of imported fish products since 2015 and the 2019 devaluation of the naira are yet to create the necessary opportunity for domestic fish production to compete with imported fish. Therefore, the ...

Managing Director, Sterling Bank Plc, Mr. Abubakar Suleiman, has restated that the bank would continue to give massive support for Nigeria’s healthcare system. Speaking at the National COVID-19 Summit in Abuja, Suleiman disclosed that Sterling Bank provided technical support for the Presidential Steering Committee and other stakeholders in the planning of the summit. He also acknowledged the outstanding work of ...

Securities and Exchange Commission (SEC), will commence charging regulatory fee on fixed income secondary market transactions with effect from January 1, 2022. SEC is the regulatory agency for capital market in Nigeria. In a circular released yesterday, SEC stated that the commencement of regulatory fee on bonds and other fixed-income transactions on the secondary market, is pursuant to Section 13(u) ...