Monthly Archives: November 2022

NGX: Nestle Shareholders lose N94.326 billion

The selling pressure witnessed on the shares of Nestle Nigeria Plc during recent trading session on the NGX has resulted in shareholders losing about N94.326 billion. According to Nairametrics, the consumer goods stock dropped by 10% to N1,071 per share from N1,190.00 with which it opened the trading session yesterday. Further analysis showed Nestle closed the trading day with N848.934 ...

Read More »

Access Bank plans to increase Closa agents to 200,000 in 2023

In a bid to meet the needs of its customers and make banking easier, Access Bank Plc has disclosed its intention to increase its Closa agents from 160,000 to 200,000 nationwide in 2023. Regional Sales Manager of the bank,Chidozie Chukwu, who disclosed this yesterday during the unveiling of the Access Closa agent in Owerri said the bank intends to reach ...

Read More »

Inflation: Bakers beg govt to subsidise cost of cassava flour

Nigerian bakers under the umbrella of the Master Bakers Association have urged the Federal Government to subsidise the cost of cassava flour in Nigeria and boost adoption as flour prices remain high. The appeal was made by the association’s Chairman, Dr Chidi Orlu, during a capacity-building development for master bakers on the use of high-quality cassava flour for baking bread ...

Read More »

President Buhari officially unveils redesign Naira notes

President Muhammadu Buhari has formally  unveiled the newly redesigned naira denominations of ₦‎1000, ₦‎500 and ₦‎200 introduced by the Central Bank of Nigeria (CBN). The newly redesigned naira launch preceded the weekly Federal Executive Council (FEC) held inside the Council Chamber of the Presidential Villa, Abuja. Responding to questions from newsmen after the event on Wednesday CBN Governor, Godwin Emefiele, ...

Read More »

CBN hikes interest rate by 16.5 percent to curb Inflation

Worried by rising Inflation, the apex bank, Central Bank of Nigeria (CBN), has raised its benchmark interest rate, known as Monetary Policy Rate (MPR), for the fourth time in 2022 by 100 basis points to 16.5 percent. The announcement was made by the Governor of CBN  on Tuesday, after the two-day Monetary Policy Committee (MPC) meeting of the apex bank ...

Read More »

Fidelity Bank hosts maiden edition of international trade expo

A leading financial institution Fidelity Bank Plc hosted the maiden edition of its international trade expo. Held at Novotel West, Hammersmith in London on Tuesday, 15 and Wednesday, 16 November 2022, the Fidelity International Trade and Creative Connect (FITCC) featured activities designed to position Nigerian businesses for increased partnership, financing, product-offtake and investment opportunities in the UK and Europe. “In ...

Read More »

Shareholders says AMCON must rise up to responsibility over non-performing loans

Following sustained depressed returns on investments arising from excessive commercial banks’ debts, shareholders at have urged the Federal Government to tighten the noose on debtors and reject the aroma of the free funds from the banking industry levies. The shareholders under the aegis of Independent Association of Nigeria (ISAN), said that despite the operations of Asset Management Corporation of Nigeria ...

Read More »

Only non-oil export can solve Nigeria’s economic crisis- NEPC

The Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Dr Ezra Yakusak, said the only way to guarantee Nigeria’s economic survival is through non-oil export. Dr Yakusak disclosed this on Friday during a press briefing in anticipation of the NEPC Export Week scheduled to hold from November 21st -26th. He added that the NEPC wants Nigerians to step ...

Read More »

Naira Redesign: CBN orders bank to open on Saturdays till January

The apex bank, Central Bank of Nigeria (CBN) has directed that commercial banks in the country remain open on Saturdays until January 31, 2023, to allow bank customers to exchange old naira notes for new ones. This was disclosed by Osita Nwasinobi, the Director of the Corporate Communications Department of the apex bank. He also reiterated that the new and ...

Read More »