Nigeria and Niger Republic have signed a bilateral agreement in Abuja for coordination of frequency utilisation along their borders to ensure seamless deployment of services around and within the two countries. According to a statement from the Nigerian Communications Commission (NCC), the agreement signing ceremony was one of the highlights of the two-day Digital Economy Regional Conference, hosted by the Nigerian government and facilitated by the Federal Ministry of Communications and Digital Economy. Nigeria’s Minister of Communications and Digital Economy, Prof. Isa Ali Ibrahim Pantami, signed on behalf of Nigeria, while his Nigerien counterpart, the Minister of Post and New…
Author: Oladi Samuel
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The Peoples Democratic Party claims that the Presidential candidate for the ruling All Progressive Congress (APC), Bola Ahmed Tinubu, allegedly masterminded the intercepting and hoarding of the new notes for a selfish agenda. This was disclosed in a statement by the PDP on Sunday evening signed by Dr Debo Ologunagba, the party’s National Publicity Secretary. They also expressed optimism that the hopelessness and anguish brought upon our nation by the APC administration will be a thing of the past when a new President resumes. Cash hoarding: They said Nigerians are going through excruciating pain due to the Policy and are…
The Nigerian House of Representatives says it may reconvene before the February 25th general elections if the hardships caused by the naira swap policy remain. This was disclosed by the House Speaker, Femi Gbajabiamila during a Townhall meeting in Lagos on Sunday. He also disclosed that the House has the power to summon any Nigerian and also issue an arrest, which includes the CBN Governor, Godwin Emefiele. The Speaker of the House of Reps noted that the House would continue to monitor the CBN’s implementation of the policy closely following the Green Chamber’s meeting with the CBN Governor on the…
During her presentation at the February 4 2023 Economic Outlook hosted by Nairametrics, the Chief Commercial Officer at Mixta Africa, Rolake Akinkugbe – Filani said she is a firm believer in real estate being a store of value. She said there are now innovative ways available for home acquisition, especially for Nigerians looking to own a home for commercial or residential purposes. According to her, home acquisition has been difficult for most Nigerians who typically complain about the steep cost of investing in real estate, particularly initial deposits. However, she revealed that there are innovative ways to approach owning real…
For his immense contributions to the growth of banking and finance in Nigeria and across Africa, the Group Managing Director/Chief Executive Officer, United Bank for Africa (UBA) Plc, Oliver Alawuba, was on Saturday, conferred with an Honorary Doctorate Degree in Banking and Finance by the Imo State University (IMSU) Owerri, Nigeria. Alawuba was honoured during the school’s 8thConvocation Ceremony, an event witnessed by the Executive Governor of Imo State, Senator Hope Uzodinma. Also in attendance were the former Governor of the State, Dr. Rochas Okorocha, the University’s Pro-Chancellor, Chief Sir, Ernest Nwapa; Vice-Chancellor Professor U.U. Chukwumaeze, Vice-chancellors from various tertiary…
Last week was tough for Nigerian businesses and consumers, no thanks to the cash shortage crisis that rocked the economy. And as expected, all eyes were on banks to perform by making cash available and facilitating transactions. Unfortunately, many of them failed to meet this expectation. We will begin today’s Corporate News Roundup by looking back at how one of the banks addressed its failure to meet customers’ expectations amid the crisis. On that note, thank you so much for reading this newsletter. And do keep in mind that Quidax makes this possible every Sunday. So, shoutout to them. Let’s begin. Kuda…
Another new face-to-face nationwide poll on the 2023 general elections has put the Labour Party Presidential candidate, Peter Obi, ahead with 37% of the survey respondents. Obi is followed by the Peoples Democratic Party (PDP) candidate, Atiku Abubakar, who secured 27% of the survey responses, while the All Progressive Congress (APC) candidate, Bola Tinubu, secured 24% with New Nigerian Peoples Party (NNPP) candidate securing at 6% of survey respondents. This disclosure is contained in a press statement by Nextier, an African-focused consulting firm, where it presented the second presidential poll conducted it conducted, on Friday, January 27, 2023, 4 weeks…
Nairametrics held its first Economic Outlook for 2023 termed ‘Economic Opportunities to mitigate the impact of headwinds” on the 4th of February 2023. The event was held online, via Zoom, and in attendance over 500 participants from all over the country and in the diaspora. The event featured, the CEO of SBM Intelligence, Cheta Nwanze, CMO of Mixta Africa, Rolake Akinkugbe-Filani, Partner and Chief Economist at PWC, Andrew Nevin, and Financial Instructure and Public Affairs analyst, Kalu Aja. Rotus Oddiri of Arise TV Business hosted the show. Nairametrics Founder, Ugodre Obi-Chukwu was the main speaker at the event opening with…
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Senate President, Dr. Ahmad Lawan and Speaker of the House of Representatives, Mr. Femi Gbajabiamila over their “failure to cut the unlawful National Assembly budget of N228.1 billion, including the N30.17 billion severance payments and inauguration costs for members.” The suit by the advocacy group followed the move by the National Assembly to increase its 2023 budget from N169 billion proposed by President Muhammadu Buhari to N228.1 billion, representing an increase of about N59.1 billion. What SERAP is seeking in the suit In the suit number FHC/ABJ/CS/152/2023 filed last Friday at the…
The market capitalization of Nigeria’s tier-1 banks, otherwise known as FUGAZ, appreciated by 2.30% to close at N2.57 trillion on Friday, February 3, 2023, as investors gained a total of N57.8 billion. At the end of this week’s five trading days, the five tier-1 Nigerian banks enjoyed positive market sentiments, with FBNH PLC leading the gainers. According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks rose to N2.58 trillion after appreciating by 2.30% during the week. A summary of the performance of each bank is captured below. FBNH PLC FBNH’s share price appreciated…