Thursday, February 9, 2023

BUSINESS

Supreme Court temporarily stops withdrawal of old Naira Notes

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The Supreme Court on Wednesday temporarily stopped the withdrawal of old Naira Notes from Feb. A seven-member panel led by Justice John Okoro, halted the move in a ruling in an exparte application brought by three northern states of Kaduna,...

Shipping Development: Nigeria key to African blue economy – Korean envoy

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The Deputy Minister for Overseas Koreans and Consular Affairs, Republic of Korea, Choi Yeong, says Nigeria is on the gateway to unlocking the potential of the African continent’s blue economy. In a statement signed by Mr Osagie Edward, Assistant Director,...

NDDC embraces Shell, Tony Elumelu Foundation in its aggressive partnership drive

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By Mbafan Ade - The development of entrepreneurs in the Niger Delta has received a big boost as the Niger Delta Development Commission (NDDC) the Tony Elumelu Foundation (TEF), have agreed to partner for the attainment of this...

President Buhari to probe Nigeria Central Bank over new naira scarcity

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President Muhammadu Buhari says he will interrogate the Central Bank of Nigeria (CBN) and other government agencies involved in the printing and distribution of new Naira notes in the country. Malam Garba Shehu, the Senior Special Assistant to the President...

Zambia raises commercial banks’ reserve ratio to address forex volatility

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Zambia's central bank on Thursday raised statutory reserve ratio, the rate at which commercial banks keep funds in the central bank, to address volatility in the foreign exchange (forex) market. Bank of Zambia's Deputy Governor Francis Chipimo said in a...

Unilever Emerges Africa’s Top Employer

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UNILEVER has been certified as the number one ?Top Employer in Africa.? For the 6th time running, the company emerged as number one this year in Ghana, Ivory Coast, Kenya, and Nigeria. Unilever is also top 5 in South...

Uganda’s apex bank asks investors to switch bonds due April

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Uganda’s apex bank on Wednesday asked investors holding Treasury bonds due to mature in April to apply to convert their holdings into longer-dated tenures to come due between May 2025 and August 2042. The bank did not give reasons for...

Nigeria records $1bn investment in automotive sector

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The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo said that the Federal Government has recorded more than one billion dollars’ worth of investments in the automotive industry. Adebayo said this when he featured at the 20th edition of...

AfDB approves $50m, €50m credit for ECOWAS bank

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The Board of Directors of the African Development Bank (AfDB) Group, has approved a dual-currency Trade Finance Line of Credit (LoC) for ECOWAS Bank for Investment and Development (EBID). In a statement issued on the website of the AfDB, the...

United Bank for Africa Plc appoints 1st female CEO

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The Board of Directors of the United Bank for Africa Plc (UBA) has appointed Mrs Abiola Bawuah as the Chief Executive Officer (CEO) of the bank. The bank announced the appointment in a statement on Monday, adding that Bawuah would...

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Kenyan bankers say COVID-19 pandemic accelerates use of digital platforms

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The Coronavirus (COVID-19) pandemic has had a positive impact on Kenya’s banking sector even as demand for credit shrinks since the outbreak of the...

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