In furtherance of the need to expand diaspora remittance inflow into the country, First Bank of Nigeria Limited has increased its network of International Money Transfer Operators (IMTOs), targeted at easing the accessibility of its customers to receive money from close to 100 countries across the world in a safe[Read More…]
Business
Naira Hits 550 To A Dollar As EFCC Warns Banks Against Forex Fraud
The Naira was at a record low against the dollar on Thursday, depreciating to nearly N550 at the unofficial market from N530 at last week’s close as demand for the greenback from importers continues to bump up against scarce market liquidity. Checks in Kano revealed the record high forex rate[Read More…]
Oil Theft and Nigeria Economic Imbroglio
Nigeria loses 138,400 barrels of crude per day (about 7% of its total production) to theft, oil spills or shortage in production, according to a report from the Nigerian Extractive Industries Transparency Initiative (NEITI). The NEITI report further said that Nigeria has lost more than 505 million barrels of crude,[Read More…]
BUA Cement Holds AGM, Declares 72.3 BillionNaira Profit, Pays 70 Billion Naira. Dividends
BUA Cement Plc, one of Africa’s largest Cement companies, today held its Annual General Meeting for the period ended December 31, 2020 whilst paying out dividends of over N70billion at N2.067k per ordinary share in a move that shareholders applauded. This is coming on the heels of a profitable year[Read More…]
FIRSTBANK HOLDS SMECONNECT WEBINAR, ENLIGHTENS ENTREPRENEURS ON ACCESSING FINANCE FOR THEIR BUSINESS
Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited will hold its SMEConnect Webinar by 11am on Thursday, 8th July 2021 with “The ABCs of Accessing Finance for your Business” being the topic to be discussed at the event. Participants are required to register for the[Read More…]
Solid minerals revenue grows by 15% to N79.96bn, says NEITI
Revenue from the solid minerals sector grew by 15 percent to hit N79.96 billion in 2019, an audit report by the Nigeria Extractive Industries Transparency Initiative, NEITI, has revealed. The 2019 audit report of the solid minerals sector released by NEITI on Sunday stated that revenue from the sector in[Read More…]
ECOWAS to launch single currency in 2027
The Economic Community of West African States (ECOWAS) on Saturday dusted up its plan to launch a single currency for member nations. The union agreed on a new road map to launch ECO in 2027, six years away. The previous plan was truncated by the coronavirus pandemic. The president of[Read More…]
FIRSTBANK BAGS A HAT TRICK OF AWARDS AT THE GLOBAL BANKING AND FINANCE AWARDS 2021
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has been awarded the 2021 ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ awards by Global Banking and Finance magazine. The respective awards conferred on the Bank are[Read More…]
Minister Reverses Earlier Directive on Sugar Importation from Free Trade Zone into Nigeria
Days after, sending out an earlier letter to the Minister of Finance, Zainab Ahmed prohibiting the importation of sugar from free trade zones, in Nigeria, the Minister of Trade Industries and Investment, Adeniyi Adebayo has backtracked and reversed himself. Adebayo, acting on a controversial petition written to him by the[Read More…]
FirstBank’s Firstmonie Agents Hits 100,000 – Impacting Hundreds of Thousands of Lives and Communities Across Nigeria.
If you live in Lagos, Abuja or Port Harcourt, or you reside in any of the other state capitals, you probably take for granted that you actually live in the better of the two worlds that make up Nigeria when it comes to banking. Take Lagos, for example, you would[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]