THE high Non-Performing Loans (NPLs) in the banking industry as well as decline in the yield environment in the Federal Government of Nigeria, FGN, debt instruments have taken a toll on financial performance of tier-1 banks operating in the country. Read more
CREDIT to the economy rose to an all time high above the N30 trillion mark in February 2019, driven by strong growth in credit to the private sector during the month. Read more
OVER the years, the Central Bank of Nigeria (CBN), has introduced several reforms to create a robust financial system framework. These reforms are focussed on enhancing banking system stability, sensitizing the gains in serious governance and restoring confidence in the nation’s financial system. Read More
NEW YORK (Reuters) – Oil prices rose 1 percent on Tuesday, as fighting in Libya and falling Venezuelan and Iranian exports raised concerns over tightening global supply, but uncertainty surrounding an OPEC-led production cut limited gains. Read more
Analysts in the financial sector have projected that the signing of the new minimum wage bill, a hike in energy tariffs and ongoing planting season would trigger a rise in monthly inflation rate in April, May and June this year even as inflation rate for March 2019 slowed down to 11.25 percent. Read more
The Nigerian National Petroleum Corporation, NNPC, yesterday said that it has reduced joint venture cash call indebtedness to international oil companies to $3.5 billion. Read more
The Nigerian National Petroleum Corporation (NNPC) says that the national average daily crude oil production stood at about 2.019 million barrels in 2018. Read more
Dr Ibe Kachikwu, Minister of State, Petroleum Resources, says the queues at filling stations is as a result of logistics challenges and has nothing to do with petrol scarcity. Read more
The New York International Auto Show kicks off this week in Manhattan, and as usual much has leaked or been released beforehand. Read more
The oppressive impact of the myriad charges on the transactions of every owner of a bank account in Nigeria was the subject of discussion in this column in recent weeks. Read more
AS Fintech and investment into the space continues to gain traction around the globe, the Nigerian Stock Exchange, NSE, said it plans to explore new technologies including blockchain and Distributed Ledger Technology (DLT) for capital raise. Read more
This is where tonne after tonne of household recycling from yellow-topped bins ends up after it is hauled away from kerbs across the city — milk bottles, cereal boxes, tins, beer cans. Read more
The Federal Government’s announcement that it would undertake a gradual phase out of fuel subsidy, weekend, triggered panic buying of Premium Motor Spirit, PMS, also known as petrol, across some states of the federation. Read more
Kachikwu made this known while briefing newsmen after facility tour of ExxonMobil Erha Floating Production Storage and Offloading vessels (FPSO) in Lagos on Sunday. Read more
Out of 390 oil blocks in the country, 211 are yet to be allocated by the Federal Government, latest data obtained from the Department of Petroleum Resources have shown. Read more
There is increasing public concern on the forced burden of the serial rape of tens of millions of bank customers’ accounts, with a multiplicity of charges, which dove-tailed the Central Bank of Nigeria’s facilitation of the cashless policy and related electronic settlement of transactions. Read more
The Nigerian National Petroleum Corporation has recorded a trading surplus of N12.13bn, the monthly financial and operations report of the firm for December 2018, which was released on Sunday in Abuja, has stated. Read more
The Central Bank of Nigeria on Monday unveiled fresh plans to revive the palm oil value chain to enable the sector to generate foreign exchange and reduce the level of unemployment in the country. Read more
Nigeria’s lender, Zenith International Bank PLC, yesterday announced it recorded about N193billion in profit after tax in its Group Accounts for the financial year ended December 31, 2018. Read more
The presidential directive to the Nigerian Petroleum Development Company Limited (NPDC) to takeover operation of the entire Oil Mining Lease (OML) 11 from Petroleum Development Company (SPDC) has been denounced by the Ogoni people. Read more