Lending by banks to consumers fell cumulatively by 11 percent or N100 billion to N1.4 trillion over two months – July and August 2020 – driven by pressure to curtail rising bad loans. Bankers said the development was prompted by the impact of the COVID-19 pandemic as well as rise in bad loans in […]Read More
The Federal Government has applied for a $1.2bn external loan from Brazil to finance agricultural programmes in the 2021 budget. A request for the approval of this loan from Brazil has also been transmitted to the National Assembly. The Minister of Finance, Budget and National Planning, Zainab Ahmed, appeared before the House of Representatives Committee […]Read More
Sudan, Egypt and Ethiopia kicked off Sunday the latest round of talks over Addis Ababa’s controversial dam on the Blue Nile, waters critical to the two downstream nations. The week-long negotiations, held via videoconference, include water ministers from the three countries, as well as representatives from the African Union, European Union and the World Bank. […]Read More
Custodian Investment Plc has declared a Profit After Tax (PAT) of N1.5 billion in the third quarter of 2020, as against N1.37 billion posted the same period in 2019, representing a growth by 9.5 per cent The Company, according to its consolidated financial report for the third quarter, Q3 2020 sent to the Nigerian Stock […]Read More
Nigeria’s trade relation with the Republic of Bangladesh this year is almost $145 million, a modest rise from $11.27 million last year. Minister of Trade, Industry and Investment, Otunba Adeniyi Adebayo disclosed this at the inauguration of the Commercial Display Room of the Bangladesh High Commission in Abuja, weekend. The Special Assistant to the Minister, […]Read More
Nigerian President Buhari has approved the rehabilitation and reconstruction of the Port Harcourt-Maiduguri rail line. “The Federal Executive Council has approved the award of contracts for the rehabilitation and reconstruction of the Port Harcourt-Maiduguri eastern narrow gauge railway, with new branch lines and trans-shipment facilities,” Nigeria’s transportation minister Rotimi Amaechi said on Wednesday after the […]Read More
Nigerian equities broke all limits to hit their highest gain in more than five and a half years as intense bargain-hunting for value and growth stocks saw the market with net capital gain of N708 billion. With nearly six advancers for every decliner, average price gain at the stock market surged to 4.92 per cent, […]Read More
The Federal Airports Authority of Nigeria (FAAN), has blamed unviable airports scattered nationwide for its poor earnings and revenue shortfall over the years, now in excess of N65 billion. Management of FAAN, while appearing before the House of Representatives’ Committee on Finance, in Abuja, reaffirmed that a total of 18 out of the 22 airports under […]Read More
The Federal Government has engaged six banks to commence account opening for beneficiaries of the Special Public Works Programme through-out the 774 local government areas (LGAs). Among the banks that were appointed to engage in the exercise are Heritage Bank Plc, Zenith Bank, United Bank for Africa (UBA), Access Bank, Fidelity Bank, and First City Monument […]Read More
Activities on the Nigerian Stock Exchange on Friday remained upbeat for the fifth consecutive day, with the All-Share Index growing by 1.28 per cent to cross 26,000 mark. The index rose by 332.20 points or 1.28 per cent to close at 26,319.34, compared with 25,987.14 recorded on Thursday. In the same vein, the market capitalisation […]Read More