Business

FBN Holdings Plc’s N150 billion rights issue has gone live on the Nigerian Exchange Group’s (NGX) digital platform, NGX Invest. This rights issue, offered on a one-for-six basis to existing shareholders, is accessible through NGX Invest, providing a seamless digital channel for eligible investors to participate. At the “Facts Behind the Rights Issue” event held at the Exchange, FBN Holdings…

The revenue of the Federation Account earnings (FAAC) rose to N6.28 trillion in the second quarter of 2024, driven by significant collections from Value Added Tax (VAT), customs, and excise duties. These sources dominated earnings within the federation account during the period, contributing 72.42per cent of the total revenue. According to the Central Bank of Nigeria’s economic report, non-oil revenue…

Nigeria’s creative industry has reached an unprecedented milestone, with box office revenue surpassing N5 billion as of September 2024. This achievement was highlighted by renowned actor Dr. Patric Doyle during the 7th Nigeria Diaspora Investment Summit (NDIS) in Abuja, where he moderated a panel discussion on investment opportunities in Nigeria’s creative sector. Doyle emphasized the remarkable growth in the industry,…

Electricity Distribution Companies (DisCos) have announced revised prices for various electricity meter models, marking the second price hike in four months. According to the DisCos, the cost of a single-phase meter has risen from approximately N117,000 to as much as N149,800, depending on the distribution company and meter vendor. The new prices, scheduled to take effect on Tuesday, reflect the…

Air Peace, Nigeria’s largest airline, has announced a new partnership with Opay, integrating Opay’s payment solutions into its Internet Booking Engine (IBE) platform to expand the range of payment methods available to customers. The move provides travelers with various payment options, including Bank Card, Opay Wallet, Bank Transfer, and Bank USSD, ensuring flexibility and ease in booking flights. Dr. Ejike…

The World Bank has approved a $50 million fund to address Nigeria’s urgent nutrition challenges under the Accelerating Nutrition Results in Nigeria (ANRiN) Project 2.0. The announcement was made by Ndiame Diop, the World Bank’s Country Director, during a meeting with Vice President Kashim Shettima at the Presidential Villa, Abuja. The ANRiN Project 2.0 falls within the World Bank’s crisis…

Airtel Nigeria has launched a new television campaign spotlighting its Home Broadband suite of products, aimed at empowering Nigerians with seamless and unlimited internet connectivity. The campaign debuted during a private screening event at Ebonylife Place in Lagos, featuring a flagship TV commercial starring popular figure Farooq Oreagba, known as the “King of Steeze.” The commercial showcases Airtel’s Home Broadband…

Nigeria recorded a significant increase in its net foreign exchange (forex) inflows in the second quarter of 2024, marking a notable improvement in the nation’s forex dynamics amidst ongoing currency pressures. Data from the Central Bank of Nigeria (CBN) reveals that net forex inflow surged by 49.4per cent to $17.18 billion in Q2 2024, compared to $11.50 billion in the…

The Securities and Exchange Commission (SEC) has announce that the Commission would be holding an Investor Clinic in Ibadan from November 7-8 2024. Director General of the Securities and Exchange Commission, Dr. Emomotimi Agama who stated this Tuesday  in Abuja, said the clinic will hold during the Chartered Institute of Stockbrokers Conference taking place at Jogor Event Centre, Ibadan. The…

Access Bank Plc has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.). In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience. Access Bank’s cumulative score of…