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The Central Bank of Nigeria has announced measures to cushion the effects of coronavirus on the Nigerian economy. The apex bank predicts that the global economy will definitely go into recession as a result of the prevailing situation around the world. Amongst the measures announced are a Reduction in interest rate on all its existing…
March 17, 2020
United Bank for Africa Plc (UBA) has announced an increase in Profit Before Tax (PBT) to N111.3 billion in its audited results for the full-year ended December 2019, compared to N106.8 billion declared in the corresponding period of 2018 financial year. The Pan-African financial institution’s 2019 financials filed at the Nigerian Stock Exchange (NSE), also,…
March 2, 2020
.Jittery Shareholders Weigh Petitioning SEC, Allege Insider Trading . Threaten to Drag   Mgt to Investment and Securities Tribunal By Hamilton Nwosa(Head The New Diplomat’s Business Desk) A few days after the Economic and Financial Crimes Commission (EFCC)  quizzed the the Group Managing Director of Access Bank Plc, Mr Herbert Wigwe, over some  assets belonging to…
January 25, 2020
With no fewer than six days of trading before the year ends, it is almost certain that transactions on the Nigerian Stock Exchange (NSE) will close in the red zone. The outgoing year is, indeed, turning out to be yet another locust year for both local and foreign investors, due to an unfriendly operating environment.…
December 25, 2019
Barely a week to the lengthy Christmas vacation, Nigeria’s inflation has increased by 11.85 percent in November 2019, gaining 0.24 percent points higher than the rate recorded in October 2019 (11.61) percent. According to the National Bureau of Statistics (NBS) CPI for the month of November, increases were recorded in all subsets of the consumer…
December 17, 2019
The Central Bank of Nigeria (CBN) expects to achieve 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year. Dr Hassan Mahmoud, the Deputy Director, Financial Policy and Regulation Department in CBN, said this in Yola at the 2019 workshop for financial journalists sponsored by the Nigeria Deposit Insurance…
December 10, 2019
The National Pension Commission (PenCom) on Thursday disclosed that the number of registered contributors under the Contributory Pension Scheme (CPS) stood at 8.85 million while Pension Fund Assets (PFAs) was N9.58 trillion as at September 2019. Director-General of PenCom, Aisha Dahir-Umar made the disclosure at the 2019 Journalists Workshop, with the theme, ‘Expanding Coverage of…
November 29, 2019
President Muhammadu Buhari has appointed Sarah Alade as Special Adviser to the President on Finance and the Economy. The office is domiciled in the Ministry of Finance, Budget and National Planning, a statement by presidential spokesperson, Garba Shehu, said on Tuesday. Mrs Alade, who holds BSc (Economics) and PhD in Management Science (Operations Research), retired…
November 5, 2019
... Jim Ovia Loses About $64m Global and domestic concerns are mounting following reports that Nigerian businessman, Mr Jim Ovia has lost about to $64 million in paper net worth over the last 6 months as the stock price of Zenith Bank, the tier-one Nigerian commercial bank where he is the largest shareholder, shed 33% in value…
September 28, 2019
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The Central Bank of Nigeria has announced measures to cushion the effects of coronavirus on the Nigerian economy. The apex bank predicts that the global economy will definitely go into recession as a result of the prevailing situation around the world. Amongst the measures announced are a Reduction in interest rate on all its existing…
March 17, 2020
United Bank for Africa Plc (UBA) has announced an increase in Profit Before Tax (PBT) to N111.3 billion in its audited results for the full-year ended December 2019, compared to N106.8 billion declared in the corresponding period of 2018 financial year. The Pan-African financial institution’s 2019 financials filed at the Nigerian Stock Exchange (NSE), also,…
March 2, 2020
.Jittery Shareholders Weigh Petitioning SEC, Allege Insider Trading . Threaten to Drag   Mgt to Investment and Securities Tribunal By Hamilton Nwosa(Head The New Diplomat’s Business Desk) A few days after the Economic and Financial Crimes Commission (EFCC)  quizzed the the Group Managing Director of Access Bank Plc, Mr Herbert Wigwe, over some  assets belonging to…
January 25, 2020
With no fewer than six days of trading before the year ends, it is almost certain that transactions on the Nigerian Stock Exchange (NSE) will close in the red zone. The outgoing year is, indeed, turning out to be yet another locust year for both local and foreign investors, due to an unfriendly operating environment.…
December 25, 2019
Barely a week to the lengthy Christmas vacation, Nigeria’s inflation has increased by 11.85 percent in November 2019, gaining 0.24 percent points higher than the rate recorded in October 2019 (11.61) percent. According to the National Bureau of Statistics (NBS) CPI for the month of November, increases were recorded in all subsets of the consumer…
December 17, 2019
The Central Bank of Nigeria (CBN) expects to achieve 2.38 per cent Gross Domestic Product (GDP) growth rate in the fourth quarter of this year. Dr Hassan Mahmoud, the Deputy Director, Financial Policy and Regulation Department in CBN, said this in Yola at the 2019 workshop for financial journalists sponsored by the Nigeria Deposit Insurance…
December 10, 2019
The National Pension Commission (PenCom) on Thursday disclosed that the number of registered contributors under the Contributory Pension Scheme (CPS) stood at 8.85 million while Pension Fund Assets (PFAs) was N9.58 trillion as at September 2019. Director-General of PenCom, Aisha Dahir-Umar made the disclosure at the 2019 Journalists Workshop, with the theme, ‘Expanding Coverage of…
November 29, 2019
President Muhammadu Buhari has appointed Sarah Alade as Special Adviser to the President on Finance and the Economy. The office is domiciled in the Ministry of Finance, Budget and National Planning, a statement by presidential spokesperson, Garba Shehu, said on Tuesday. Mrs Alade, who holds BSc (Economics) and PhD in Management Science (Operations Research), retired…
November 5, 2019
... Jim Ovia Loses About $64m Global and domestic concerns are mounting following reports that Nigerian businessman, Mr Jim Ovia has lost about to $64 million in paper net worth over the last 6 months as the stock price of Zenith Bank, the tier-one Nigerian commercial bank where he is the largest shareholder, shed 33% in value…
September 28, 2019
