Tag Archives: Business News

Nigeria’s private sector began the second half of the year on a positive footing as they continued the run of expansion that began in July 2020, a Stanbic IBTC bank’s Purchasing Managers’ Index (PMI) report has said. The PMI report released on Monday said quicker upticks in output, new orders, …

…Zenith bank leads industry with N696.67 Billion A total of five Domestic Systemically Important Banks (D-SIBs) in Nigeria profits hits N2.2trillion between 2017 and 2020. The five D-SIBs are Zenith Bank Plc, Guaranty Trust Bank Plc (GTBank), Access Bank Plc, United Bank for Africa Plc (UBA), Ecobank Transnational Incorporated (ETI) …

The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu, has decried the shallowness of Africa’s financial market as depicted by the fact that no African exchange is among the Morgan Stanley developed markets index. He maintained that only two African exchanges (Egypt and South Africa) are in the …

President Muhammadu Buhari, Monday, signed the 2021 Supplementary Appropriation Bill of N982,729,695,343 into law. The Senior Special Assistant to the President on National Assembly Matters, (House of Representatives), Umar El-Yakub, disclosed this while briefing State House correspondents at the Presidential Villa, Abuja. El-Yakub said the Act will be largely focused …

Analysts at WSTC Securities Limited have projected a more than three per cent growth in the Nigerian economy Gross Domestic Product, GDP for the second quarter of 2021, citing gradually recovery economic activities and low base effects. Post-lockdown, the Nigerian economic recovery has been coming off gradually from the trough, …

On Monday, July 26, 2021, the 280th Monetary Policy Committee (MPC) meeting of the Central Bank of Nigeria (CBN) will commence. The gathering is for two days and will involve members of the team who are experienced bankers, economists and others. They will discuss the economy and the security situation …

…As Analysts urge FG to formulate economic security As the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) meeting commenced on Monday, analysts have expressed that inflation rate, imbalance in external sector, among others are expected to take centre stage on possible cut in interest rate, other monetary parameters. …

The value of point of sales (POS) transactions made in Nigeria jumped to N3.01 trillion in the first half of 2021, with a total volume of 462.11 million transactions in the same period. This is according to the report released by the Nigeria Inter-Bank Settlement System (NIBSS) for the month …

The National Bureau of Statistics (NBS) says the average price per litre paid by consumers for National Household Kerosene increased to N370.29 in June from N363.50 in May, while cooking gas has increase by 4.80 percent year on year. The bureau said this in its “National Household Kerosene Price Watch …

…Two Billion Adults Lack Access to Formal Financial Services Restrictions on movement and reduction in the handling of physical cash because of the COVID-19 pandemic caused mobile money transaction volumes in sub-Saharan to reach $490bn in 2020, Visa has said. This was a 23 per cent increase from 2019, according …