Cost of Funds To Fall As N632bn Inflow Halts Its Scarcity

Experts averred that the scarcity of funds that led cost of funds to rise by over 1000 basis points in the interbank money market last week is expected to decrease this week spanning through preceding weeks in August, 2019 due to inflow of N632 billion from matured Treasury Bills (TB) and statutory allocation to states and local governments.

Minimum Wage: NLC, TUC Warn FG From Eminent Industrial Action

The Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) leadership have warned the federal government that they should do the needful to save the country from the verge of industrial action.

Ruga Shouldn’t Operate In Non-Fulani States – Ganduje

The Governor of Kano State, Abdullahi Ganduje, on Saturday said he was not happy with the manner in which Fulani are treated in the country, stressing that the Federal Government’s Ruga programme shouldn’t be implemented where indigenes are not Fulani.

​Nigeria's Apex Bank License New Banks

The Central Bank of Nigeria (CBN) had on Tuesday 23rd July 2019 expanded the Nation's banking space by issuing three new banking licenses to some Deposit Money Banks (DMB). With the additional licenses, the number of DMBsoperating in the country has increased to 23 from the previous 21.

MTN Nigeria Posts N60b Interim Dividends

Nigeria's leading telecommunication company, MTN Nigeria has declared N60 billion as interim cash dividends to be distributed to shareholders, making it N2.95 per share for the first half of the year.

Minimum Wage: Labour Delaying Implementation – FG Cries Out

The federal government disclosed that unrealistic demand from the Senior Staff Union members of labour were responsible for the delay in the implementation of the new National Minimum wage.

38.5 Million Bank Accounts Now Have BVN — NISS

In its effort to transform Nigeria's financial sector, Nigerian Interbank Settlement Scheme (NISS) disclosed on Friday 26th July 2019 that about 38.5 million bank accounts have been linked to the Bank Verification Number.
In a figure released by the NISS, Deposit Money Banks (DMBs) in Nigeria witnessed 1.7 million new BVN registrations in the past five months. This according to the NISS, represents 31 per cent of the total number of bank accounts, and 53 per cent of the total number of active bank accounts in Nigeria.

Nigeria And Siemens Reaches Agreement Over Electrification Roadmap

Nigeria and German company Siemens has agreed to a roadmap that will help the Nation increase Her power supply to 11,000 megawatts by 2023, President Muhammadu Buhari said on Monday. With this agreement, Nigeria will join the likes of Egypt and Iraq who signed a deal with the German company and got 98% increase electricity in two years. 

MSMEs Grew By 12% in 4 Years — SMEDAN, NBS Survey

Nigeria's economy is gradually on a positive trajectory as the number of Micro, Small and Medium Scale Businesses (MSMSB) in Nigeria grew by 12 per cent to 41.543 million in 2017 from 37.067 million in 2013. This was contained in the latest National Survey of Micro Small & Medium Enterprises (MSMEs) jointly conducted by National Bureau of Statistics (NBS) and Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

N145 Billion Worth of Bonds to be Auctioned July 24 – DMO

On Thursday, 18th July 2019, the Federal Government of Nigeria (FGN) through Debt Management Office (DMO) has offered for subscription by auction of N145 billion worth of bonds in its scheduled July 24, 2019 auction.
This offer was made known in a circular offer obtained from DMO's website stating that it would sell N40 billions of a five-year re-opening issue maturing in April 2023 at 12.75 per cent.