Business

As the world seeks ethical and inclusive financial solutions, the Securities and Exchange Commission has said that the Federal Government of Nigeria has issued six Sovereign Sukuk worth ₦1.1 trillion ($657.6million), to finance 124 Federal road projects covering over 5,820 kilometers across the six geopolitical zones of the country. Director General of the SEC, Dr. Emomotimi Agama who stated this…

The National Information Technology Development Agency (NITDA) and the Advocacy for Policy and Innovation (API) have released a Whitepaper on the framework for an Online Harms Protection Bill in Nigeria. NITDA, in a statement issued on Thursday by its Director, Corporate Communications and Media Relations, Hadiza Umar, said the document was developed in collaboration with Advocacy for Policy and Innovation…

In a landmark move for regional energy integration, Dangote Refinery and Neptune Oil jointly announced the first-ever export of Premium Motor Spirit (PMS) or petrol from Dangote Refinery, Africa’s largest oil refinery, to Cameroon. This milestone, resulting from a strategic collaboration between the two companies, underscores their commitment to strengthening economic ties between Nigeria and Cameroon while meeting the region’s…

The national power grid has again collapsed on Wednesday at about 2:09pm. This will be 12th time the power grid would be collapsing from January 2024 till date.  A tweet via the official handle of Nigeria’s National Grid confirmed the collapse  of the grid on Wednesday. “The major grid setback has occurred and the restoration is to commence,” the tweet…

 The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, says the Federal Government has taken practical steps to revamp the Nigerian economy over the past year. Cardoso said this recently in Abuja, at the Bankers’ Committee Retreat, with the theme: “Contract and Commitment to National Development and Economic Growth”. He said that the country was making steady progress…

The Central Bank of Nigeria (CBN) has countered a trending circular saying it authorized the sales of foreign exchange to Bureau De Change (BDC) operators in the country, describing the report as “fake”. The circular dated Tuesday, had claimed that the apex bank sold $20,000 to each legible BDC operator at N1,300 per dollar rate. It read, “Following the ongoing…

The Nigerian Communications Commission (NCC) is inviting prospective participants to register for a Domain Name System Security Extensions (DNSSEC) awareness webinar slated for Thursday, December 12, 2024, at 11:00a.m. WAT. NCC, in a notice on its facebook page, disclosed that the webinar is being organised in collaboration with the Internet Corporation for Assigned Names and Numbers (ICANN). It also stated…

The Chairman of the Nigerian Exchange Group Plc, Alhaji (Dr) Umaru Kwairanga, has said the number of investors in the Nigerian capital market was unacceptable given the population of the country. Kwairanga said this at the 2024 annual conference of the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos. He said, “We are coming from less than 100,000 with…

Director-General, National Automotive Design and Development Council, NADDC, Mr Oluwemimo Osanipin, has said that the use of reverse engineering would help the country to start producing vehicle components locally. Osanipin stated this at Asaba during NADDC’s capacity building training on automotive components design and development in collaboration with Solidworks Corporation. He noted that  technology has changed the way business was…

The Securities and Exchange Commission ( SEC) has urged banks to strengthen their corporate governance principles and risk management framework to enhance investors’ confidence in the ongoing recapitalisation exercise. At the just concluded yearly workshop of the Capital Market Correspondents Association of Nigeria (CAMCAN) held in Lagos at the weekend, SEC Director-General, Dr Emomotimi Agama, restated the commission’s commitment towards…