Business

Ghana Central Bank stated that it has suspended foreign exchange licence of two Nigeria’s banks with subsidiary in Ghana, Guaranty Trust Bank Ghana Limited (GTBank) and FBNBank Ghana Limited (FBN) for involvement in fraudulent documentation of foreiign excchange transactions. The one-month suspension by the Central Bank takes effect from March 18, 2024, and is in accordance with Section 11 (2)…

Sanity, topnotch quality and efficient management of facilities and janitorial services facilities seems to have returned Muritala Mohammed international airport Lagos, and its E- wings. According to our correspondent, who was on an unscheduled visit to the Muritala Mohammed international Airport to monitor the unfolding of events, since the current managing director of the Federal Airport Authority of Nigeria (FAAN)…

Nigerian Exchange Limited on Monday admitted 75 billion shares of Transcorp Power Plc at N240 per share to its Main Board. The leading power generation company’s listing boosts the overall NGX market capitalization by N1.8 trillion, just as its shares rose by 10% on the first trading day. Following its listing on NGX, the company made its Facts Behind the…

The Central Bank of Nigeria (CBN) said it successfully concluded a sale of government securities, issuing N1.05 trillion in short-term instruments. The CBN said the sale, which occurred on March 1, 2024, was part of its liquidity management exercise. In a statement on Monday, the regulator said the N500 billion offered at the open market operations (OMO) auction was oversubscribed,…

Access Bank said it has launched a “YouThrive” initiative which targets to empower 700,000 MSMEs in the country through a N50billon loan. Victor Etuokwu, Deputy Managing Director, Access Bank announced this during a press briefing held recently at the bank’s head office in Lagos. The bank’s Deputy Managing Director also revealed that the MSMEs that would benefit from the programme…

Succor may have come the way of investors who endured long periods of a downturn on the Nigerian Exchange Limited (NGX) as bold economic reforms of the new government have lifted equities market capitalisation by N13.79 trillion in the first two months of 2024 and emerged the best in Africa. The market capitalisation of listed equities, which opened the year…

Nigerian Exchange Group Plc (NGX Group) has announced its full-year audited financial statements for the year ended December 31, 2023, with a profit after tax of N5.2 billion and a declaration of a final dividend of N1.5 billion. The Group experienced a surge in gross earnings, rising by 57.4per cent to N11.8 billion in FY 2023 from N7.5 billion in…

The global gender gap for women in the workplace is far wider than previously thought, a ground breaking new World Bank Group report shows. When legal differences involving violence and childcare are taken into account, women enjoy fewer than two-thirds the rights of men. No country provides equal opportunity for women—not even the wealthiest economies. The latest Women, Business, and…

Kunle Sanni The Ministry of Aviation has dismissed claims of a purported plan to relocate a department of fire-fighting simulator out of the Nigerian College of Technology, Zaria, Kaduna State to Lagos State. The disclaimer was made in a statement issued on Monday by Tunde Moshood, a spokesperson for the Minister of Aviation and Aerospace Development, Festus Keyamo. Keyamo said…

Innocent Raphael Telecommunications companies have disclosed that over 40 million subscribers who did not present their National Identity Numbers in line with Nigeria’s Subscribers Identification Module and NIN linkage policy. Chairman of the Association of Licensed Telecommunications Operators of Nigeria, Gbenga Adebayo, disclosed this in a statement on Sunday. This represents a 28 million surge from the 12 million telephone…