Author: Julius Alagbe

The United Kingdom, UK, on Wednesday said a new Visa Application Centre (VAC) has been opened in Ikeja, through its new commercial partner, VFS Global.

Naira Depreciates after CBN Releases Update on FX Trading Rules The naira depreciated against the US dollar in the foreign exchange market ahead of the implementation of Bloomberg BMatch as the designated platform to support the Electronic Foreign Exchange Matching System (EFEMS) for interbank trading. The Central Bank of Nigeria (CBN) has approved the use of BMatch platform for banks to execute interbank FX trading transactions starting from Dec 2, 2024. Analysts said they expect the platform to increase transparency in the forex market demand and supply and help in price discovery. According to spot FX data from the FMDQ…

Osun pays N12bn Pension Debt – Adeleke Gov. Ademola Adeleke of Osun on Wednesday said his administration has paid N12bn pension debt in his two years as governor of the state. Adeleke made this known during his state broadcast to mark the two-year anniversary of his administration. While reeling out the achievements of his administration, Adeleke said his government has been able to settle pension debts and also constructed numerous roads as well as upgraded health centres. “In line with norms of accountability and responsibility to the electorate, I am obligated to render my stewardship midway into the life of…

Corporate Governance is Key to Telecom Industry’s Success The Nigerian Communications Commission (NCC) has emphasized the importance of corporate governance in the telecom industry’s success and sustainability. According to Dr. Aminu Maida, Executive Vice Chairman of the NCC, corporate governance is no longer just a regulatory requirement but the foundation of the industry’s success and sustainability ¹. Dr. Maida highlighted the remarkable growth of Nigeria’s telecom industry and its significant contribution to the country’s Gross Domestic Product (GDP). He emphasized that good governance is essential for corporate success, as companies in the sector face rising regulatory, environmental, and societal pressures.…

The naira rose against the US dollar at the Nigerian autonomous foreign exchange market (NAFEM) ahead of Blomberg BMatch FX implementation.

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) at the end of a two-day policy meeting hiked the benchmark interest rate to 27.50%

FG Partners MIKTA Group to Bolster Nigerian Economy The Federal Government says it will continue to work closely with Mexico, Indonesia, the Republic of Korea, Turkey, and Australia (MIKTA) to bolster the Nigerian economy. MIKTA, also known as the Middle Powers or Great Nations, came into being in 2013 as a group of countries coming together to foster mutual growth and tackle global challenges through shared experiences. The Minister of Foreign Affairs, Amb. Yusuf Tuggar, represented by Amb. Janet Olisa, the Director in Charge of Regions in the ministry, disclosed this during the MIKTA Roundtable presentations on Monday in Abuja,…

The average yield on Nigerian Treasury bills dipped by 5 basis points in the secondary market to close at about 24.2%.

The Securities and Exchange Commission (SEC) says more than N2.7 trillion has been raised in the capital market by Nigerian deposit money banks and other companies.

NCC Simplifies Telecom Tarrif Plans to Reduce Consumer Confusion The Nigerian Communications Commission (NCC) has introduced a new initiative to limit telecom operators to a maximum of seven tariff plans each. This move aims to reduce consumer confusion and promote transparency in the telecommunications sector. The NCC believes that a simplified system will empower consumers to make informed decisions about their telecommunications services. The commission has also launched awareness campaigns to educate users on managing data usage and published approved tariff plans on its website for transparency. According to the NCC, the current tariff structure, with multiple promotions and add-ons,…