Business

The Naira depreciated further in the official market on Friday, trading at N1,393.25 against the US dollar. According to data released on the official website of the Central Bank of Nigeria (CBN), the Naira lost N5.80. This represents a loss of 0.4% compared to Thursday when the local currency was trading at N1387.44 against the dollar. Even the Naira, which …

The Central Bank of Nigeria (CBN) said on Friday that 30 banks had met the new capital requirements ahead of the March 31 deadline. This was disclosed by the Acting Director of Corporate Communications Development of CBN, Mrs. Hakama Sidi-Ali in a statement in Abuja. He said as of March 6, the banks had met the new minimum capital requirements …

Post views: 16 By Kennedy Onwunali Sports stakeholders in Imo State have called on Governor Hope Uzodimma to declare a state of emergency in sports venues following the disappointing performance of Team Imo at the recently concluded Niger Delta Games. The Imo team returned home with just five gold medals, raising concerns over the state’s sporting infrastructure. Experts and …

The Lagos State Police Command has refunded ₦150,000 to a woman who alleged that officers of the state tactical squad kidnapped her and two friends and demanded ₦800,000 for their release. The victim, Helena Nelson Ikoi, revealed the development on her Facebook page after she visited the police station with a friend, Jude, to meet the Divisional Police Officer (DPO) …

The Central Bank of Nigeria (CBN) has affirmed the capitalization of Alpha Morgan Bank, marking an important milestone in the Bank’s growth journey and reinforcing its commitment to building a strong, resilient and future-ready financial institution. This statement reflects the Bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and …

Investors earned N2.67 trillion in the just ended trading week as the equity market recovered from last week’s bearish move. The market strengthened in four out of five trading sessions as equity capitalization increased to N126.4 trillion from N123.7 trillion recorded last week. The All-Share Index (ASI) appreciated by 2.16% closing the week at 196,968 from 192,826.78 recorded in the …

By Joseph Amedu, Lokoja Armed men suspected of being kidnappers had, in separate attacks, abducted over thirteen traders and travellers. Two people died in the attacks which occurred between Wednesday and Thursday Eyewitnesses have revealed that on Wednesday, some kidnappers invaded Okabo community in Ofu Local Government of Kogi State, one person was shot dead and another person and a …

Ahead of the recapitalization deadline of March 31, 2026, the Central Bank of Nigeria (CBN) revealed that 30 banks have met the minimum capital requirements. On March 28, 2024, the apex bank announced an increase in the minimum capital requirements of banks. Under the recapitalization framework, international commercial banks must have ₦500 billion, national banks ₦200 billion, regional banks ₦50 …

The ADC accuses Tinubu of diplomatic missteps over ambassadorial duties The opposition African Democratic Congress (ADC) has accused President Bola Tinubu’s administration of diplomatic missteps over the announcement of ambassadorial posts, describing it as a mistake and confirmation of the government’s “historic incompetence”. In a statement signed by Mallam Bolaji Abdullahi, ADC National Publicity Secretary on Friday, March 6, the …

Presidential hopeful and former Minister of Transport, Rt Hon. Chibuike Rotimi Amaechi, has kicked off the registration of African Democratic Congress (ADC) members in Rivers State, despite attacks on the ADC secretariat in his hometown, Ubima, before his arrival, and subsequent attacks on his convoy. In the early hours of Friday, the ADC secretariat in Ubima was attacked and completely …