The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has restated that the apex bank is not considering extending the deadline for the swapping of the old naira notes with the newly redesigned naira notes. This was made known by Emefiele during an ongoing special briefing of journalists at the CBN office in Lagos on Friday, February 3, 2023. Emefiele said that the CBN acknowledges the pains Nigerians are facing in accessing the new naira notes and are working on closing the gaps observed in the circulation process. According to the CBN governor, the apex bank will extend…
Author: Oladi Samuel
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MSME Fintech platform, Traction launches her business solution suite, Grow with Traction, to support the growth of businesses. As a business that has grown over the last few years to cater to over 50,000 businesses in various cities including Lagos, Ibadan, Abuja, Aba and Kaduna, and with a vision to further expand to over 300,000 businesses in 2023; Traction keeps seeking solutions to address customer pain points across various business segments. Grow with Traction is a platform with four solutions, Business Diagnostics, Business registration, an event plug-in, and a free magazine feature targeted at supporting business owners with innovative solutions…
The Federal Government has revealed that the rehabilitation works and replacement of all the damaged components of the Apongbon Bridge razed by fire would be completed in May and the highway reopened to traffic. The government also pointed out that the project has already achieved 50% completion. This was made known to journalists on Friday by the Federal Controller of Works in Lagos State, Umar Bakare, who said they are currently replacing the bearings. Apongbon rehabilitation is 50% completed Bakare said, “We are planning to re-open Apongbon Bridge by May 2023. As I am talking to you, we are moving…
Abeokuta – The City built on Solid rock. Spanning 879 km² of fertile wooded savanna, an Industrialist’s haven. A hub which is responsible for development of land and water resources for Lagos, Ogun, and Oyo states, making it one of the most significant locations in terms of Socio Economic importance to other cities in the west especially Lagos and Oyo States. With a population of 449,088, the City of Abeokuta serves as the Gateway to an industrial revolution in Nigeria. It is therefore not by Providence, that Providus Bank – the Number one Luxury Bank in Africa, decided to cite…
The Nigerian Exchange (NGX) closed positive amidst buy-interests and sell-offs as bulls dominated proceedings, driving up the broad market. The All-share Index (ASI) appreciated by 2.29% to close at 54,213.09 points. In the same vein, market capitalization grew by N117 billion to close at N29.528 trillion while the Year-to-Date (YtD) returns settled at 5.07%. The stock market has advanced by 2,617.43 basis points since the start of the year. Market breadth closed positive REDSTAREX led 35 gainers, and 10 losers topped by IKEJAHOTEL at the end of today’s session. Market Indices NGX ASI: 54,213.09 points Previous ASI: 53,998.12 points …
The Federal Government of Nigeria has signed agreements with tech giants, Meta and Google, to tackle the menace of fake news and protect the integrity of the forthcoming general elections. The agreements were reached at a Friday meeting between the Minister of Information and Culture, Alhaji Lai Mohammed, and representatives of Meta and Google. At the meeting which was at the instance of the minister, the tech giants agreed to comply with four demands by the federal government. These include an agreement to work with the government in flagging and bringing down posts that constituted fake news and disinformation on…
The Royal Society of Tropical Medicine and Hygiene (RSTMH) is accepting grant applications from early career researchers and global health professionals based anywhere in the world. The preferred researchers should not have had previous research funding of that amount or more in their name. The RSTMH grants will cover one year. Research projects: The projects can be on any topic related to tropical medicine and global health, from across the research spectrum of lab, translation, implementation and policy, and should take up to one year. To learn more about the grant, a webinar will be held for those who want to…
The Inspector-General of Police (IGP), Usman Alkali Baba, has ordered the arrest and prosecution of persons selling or abusing the new naira notes issued by the Central Bank of Nigeria (CBN). This is coming barely 24 hours after the CBN had through a statement issued similar threats, where it said that it would collaborate with law enforcement agents to arrest and prosecute those that sell and abuse the new naira notes. This is contained in a statement issued on Friday by the Spokesman of the Nigeria Police Force (NPF), Muyiwa Adejobi, where he said that the police are duty-bound to…
Oyo state governor Seyi Makinde said he has suspended his campaign over the naira scarcity problem elicited by the CBN’s cashless policy and the fuel scarcity challenge affecting the country. The state’s Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun, disclosed this in a statement made available to the News Agency of Nigeria. Makinde urged residents and citizens of the state to remain calm as they try to navigate through this difficult period. Fuel and naira scarcity: The Governor revealed that his campaign was suspended in solidarity with the people over the harrowing experiences in recent times. Part of…
FCMB Group Plc has released its annual report and financial statements for the full-year ending 31st December 2022. The company’s profit for the year rose by 55.8% to N32.59 billion from the N20.92 billion in the previous year. The summary of the report is as follows: Gross Earnings 2022 FY: N281.75 billion 2021 FY: N212.01 billion Change: +32.9% Net interest income 2022 FY: N120.408 billion 2021 FY: N90.913 billion Change: +32.4% Result from Operating Profit 2022 FY: N37.105 billion 2021 FY: N22.621 billion Change: +64% Pre-tax profit 2022 FY: N37.105 billion 2021 FY: N22.716 billion Change: +63.3% Profit for…