Business

Guaranty Trust Bank now (GTCO) has dragged 60 top executives of 13 commercial banks to court over N17 billion Anchor Borrowers Program (ABP) debt. The people affected include the chairman, CEO, directors and company secretaries of the 13 banks. They are facing contempt proceedings for allegedly failing to implement a No Debit Order reportedly placed on Afex Commodity Exchange accounts …

Zenith Bank, United Bank for Africa (UBA), AccessCorp and Total Plc top the list of stocks to watch when markets open after Eid on Wednesday. This follows their impressive performance last week with the Nigerian stock market closing the week on a positive note, recording three gains in four trading sessions. During the period, investors earned N398.4 billion as market …

By: Babajide Okeowo The rising debt profile of Nigeria and other African countries has forced the African Development Bank (AfDB) to launch the African Debt Managers Initiative Network (ADMIN) to spur domestic solutions to the continent’s debt challenges. The inaugural and first peer learning event recently took place in Addis Ababa with the theme: Developing and Deepening Domestic Debt Markets …

Lagos, Nigeria’s economic center, is divided into two distinct regions: Lagos Island and Lagos Mainland. Each region offers unique qualities, economic opportunities, amenities and investment prospects, which shape the city’s lifestyle and real estate landscape. While Lagos Island is known for its upscale neighborhoods, commercial hubs and cosmopolitan appeal, Lagos Mainland provides a more diverse and affordable environment with a …

The Global Tracking Maritime Solutions Management at the Freeport of Monrovia defends its operations before the Senate. By Lewis S. Teh Monrovia, Liberia, June 14, 2024 – Following the Liberian Senate’s recent decision to summon the management of the Global Tracking Maritime Solutions, the Liberia Revenue Authority, Public Procurement and Concession Commission, Ministry of Finance and Development Planning, and the …

Lonestar Cell MTN – Mobile Money Financial Services is dedicated to continuously enhancing our compliance with all regulatory requirements and proactively addressing any feedback from the Central Bank of Liberia (CBL). Our commitment to transparency and accountability remains unwavering as we work diligently to uphold the trust of our customers and the market. In addition, we are actively reviewing our …

Nigeria’s headline inflation rate has risen to 33.95 percent in May. The National Bureau of Statistics (NBS) disclosed this in its latest Consumer Price Index (CPI) released on Saturday in Abuja. This figure shows an increase of 0.26% points when compared to the general inflation rate in April 2024. According to the NBS, the headline inflation rate was 11.54% points …

Investors in the Nigerian equity market ended the week with profits of N52 billion on Friday. This follows the increase in the share prices of GUINNESS, ETRANZACT, and UNITY BANK on the stock exchange floor today. After five hours of trading on the capital market, equity capitalization increased to N56.527 trillion from N56.474 trillion recorded by the exchange on Thursday. …

The Naira depreciated against the United States dollar on Friday and traded at N1, 476.24/$1. Data from the Nigerian Autonomous Foreign Exchange Market (NAFEM) showed that the naira lost N6 against the dollar after trading at N1,482.72/$1 compared to N1,476.24/$1 recorded the previous day. The intra-day high and low recorded during the day were N1, 490/$1 and N1, 390/$1 respectively, …

After the government lifted the suspension on Wester Cluster’s Road User Permit recently, the company has outlined its commitment to boost Liberia’s economic revitalization efforts and foster socio-economic development. Monrovia, June 14, 2024: Aligning with President Joseph Nyumah Boakai’s vision to revitalize Liberia’s economy and combat poverty and diseases, Western Cluster Limited (WCL) has committed to contributing to the government’s key growth …