Business

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to put the continent’s diversity and rich culinary traditions on the centre-stage with the highly anticipated ‘Tastes of Africa Food Festival.  The UBA Tastes of Africa Food Festival is a vibrant celebration of the continent’s cuisine, culture, and diversity as it reflects its remarkable history and cultural tapestry and …

The Akwa Ibom State Internal Revenue Service has sealed the two branches of Keystone Bank and another one belonging to Heritage Bank for their alleged failure to remit outstanding tax liabilities of N228.6m to the state government. The banks were shut down on Thursday during an exercise conducted by the board’s Enforcement and Recovery Department, following an order of Notice …

Polaris Bank’s CEO, Adekunle Sonola, has urged the Nigerian government to prioritize legal policy and reforms for sustained economic growth. Sonola made the call in a presentation he delivered at the Annual Law Dinner of the Nigerian Bar Association (NBA), Lagos branch which held at the weekend in Lagos themed: “Favourable Investment and Business Environment Through Legal Policy & Reforms”. …

On Monday, the Nigerian stock market recorded 0.74 per cent appreciation in the equity capitalisation, representing N262.52 billion gain. This raised the market capitalisation from N35.42 trillion reported on Friday, to N35.68 trillion at the close of trading today. The All-Share Index inched higher by 481.32 basis points to 65,202.41 ASI, from 64,721.09 ASI. Also, about 231.59 million shares, valued …

President Bola Tinubu on Wednesday rang the closing bell at the Nasdaq Stock Market in New York. Tinubu, who was accompanied to the ceremony by the President of the United States-Africa Business Center (USAfBC) at the U.S. Chamber of Commerce, Scott Eisner, urged the American business community to invest in Nigeria’s “bubbling market.” The ceremony held at the Nasdaq headquarters …

The Central Bank of Nigeria (CBN) has lifted the ban on cryptocurrency transactions in the country. The apex bank in February 2021 ordered all financial institutions in the country, including banks to shut accounts of citizens or entities involved in cryptocurrency transactions within their systems. The CBN had earlier warned that digital currencies such as Bitcoin, Litecoin, and others are …

The Central Bank of Nigeria (CBN) has unveiled a new online platform for the submission of microfinance bank (MFB) licence applications. The CBN’s Director of Corporate Communications, Isa AbdulMumin, who disclosed this in a statement on Wednesday in Abuja, said the platform, the Licensing, Approval and Other Requests Portal (LARP), would be operational from September 25. He said the platform …

Nigeria has spent the sum of N1.792tr on servicing domestic debts in three months of July, August and September 2023, data sourced from the Debt Management Office (DMO) by Ripples Nigeria has shown. For the month of July, the country spent N268bn to service its domestic debt. The figure rose to N696bn by August 2023 before hitting N827b in September …

The annual Nigerian Economic Summit Group (NESG) remains the foremost platform for public-private dialogue to interrogate issues and proffer policy options and solutions that will continuously shape national economic policy and growth strategies, the ) the Chief Operating Officer of Dana Air Ememobong Ettete has said. The just concluded Nigerian Economic Summit which was held recently in Abuja, convened national …

The equity capitalization in the Nigerian capital market rose by 0.71 percent on Tuesday. This represented a N263.8 billion increase in the value of investments at the capital market from N37.14 trillion to N37.41 trillion at the close of the day’s business. The day before, the stock market capitalisation settled at N37.14 trillion, indicating the market valuation gained N263.83 billion …