The apex bank, Central Bank of Nigeria (CBN), has disbursed N12.65 billion to the Anchor Borrowers Programme (ABP), its flagship agriculture intervention scheme from January till date. The CBN Governor, Godwin Emefiele said this in Abuja, when he read the communique issued at the end of the 290th meeting of the apex bank’s Monetary Policy Committee (MPC). According to Emefiele, ...

Apex bank, the Central Bank of Nigeria (CBN) through its  Monetary Policy Committee (MPC) has hiked the benchmark interest rate by 50 basis points to 18. per cent. The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the second MPC meeting of the year in Abuja on Tuesday Speaking to newsmen at the end of the two-day ...

Nigerian business tycoon, Aliko Dangote, overtook two Russians, one Chinese and an Indian on the billionaires’ list on Monday, after making N460bn in a day. The Chief Executive Officer of Dangote Group made the profit following increased demand for Dangote Cement, beating his fellow billionaires by earning about $100 million. He maintains a majority share at his Cement company, following ...

The Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, has established a Gender Unity Desk to further enhance the capacity of women entrepreneurs in the country. Mrs Kwaru David Madziga, Assistant Chief Enterprise Officer SMEDAN disclosed this lin Abuja during a conference organised by the African School of Economics to commemorate this year’s International Women’s Day. Madziga said various ...

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the resumption of oil exports from the Bonny Crude Oil Export Terminal. The resumption from the facility follows the lifting of ‘Force Majeure’ on oil exports due to a blast on a pipeline feeding the terminal on March 3, 2022. Force Majeure is a legal clause inserted in contracts ...

More than $100 billion has been wiped off in banks’ value in the United States (U.S.), following the collapse of Silicon Valley Bank. The collapse of the bank has been sending shockwaves throughout Wall St. Trading was temporarily halted in dozens of regional banks yesterday as shares fell by up to 75 per cent, despite Joe Biden’s assurances that ‘U.S. ...

Lagos State Governor, Babajide Sanwo-Olu has called on residents, business owners, and especially retailers to accept the old N500 and N1,000 notes – in line with the Supreme Court judgement which ruled that the currency remains legal tender until December 31, 2023. Sanwo-Olu made the call in a statement through the Commissioner for Information and Strategy, Gbenga Omotoso, yesterday. The ...

The Federal Government, on Thursday, announced the top five business efficient and transparent agencies among its Ministries, Departments and Agencies for the year 2022. It outlined the top five performing MDAs to include the Nigerian Content Development and Monitoring Board, Standards Organisation of Nigeria, Federal Competition and Consumer Protection Council, Nigerian Export-Import Bank, and Corporate Affairs Commission. The government announced ...

In recognition of his contribution to the development of the insurance industry, the Managing Director/ CEO, of Universal Insurance, Dr. Benedict Ujoatuonu, has won the ‘Insurance Personality Leadership Excellence Prize for Year 2022’ At the 2022 edition of the African Prize for Leadership Excellence Award Ceremony held in Lagos recently, the organisers of the event, The Africa Leadership Media Limited, ...

Total Energies Marketing Plc has projected a revenue of N3,578bn for the second quarter of 2023. This was revealed in a notice issued on the website of the Nigerian Exchange Limited on Monday by its Executive Director, Mrs L. Baxter-Green, The oil marketing firm projected N84.855bn in revenue between April and June 2023 and a cost of sales of N70.689bn. ...