Author: Julius Alagbe

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,…

This week, the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) is anticipated to raise the benchmark interest rate by 50 basis points to 27.75%,

NDIC Reassures Heritage Bank Depositors of Prompt Payment The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of the defunct Heritage Bank that challenges delaying access to guaranteed sums above N5 million are being resolved. Mr Bello Hassan, Managing Director, NDIC, gave the reassurance on Saturday during the 2024 edition of the NDIC Editors Forum in Lagos. The theme of the conference is: “Strengthening Nigeria’s Financial Safety-Net: The Role of Deposit Insurance”. Hassan, represented by NDIC’s Executive Director, Operations, Mr Mustapha Ibrahim, said the corporation was working diligently to facilitate payments. Hassan explained that depositors with amounts above the maximum…

Atletico Leave it Late to Beat Alaves in Simeone’s 700th Game Diego Simeone’s 700th game in charge of Atletico Madrid ended in a late 2-1 win over Deportivo Alaves in LaLiga on Saturday. This was after Alexander Sorloth rescued the home side with an 86th-minute winner at the Metropolitano Stadium. Alaves took an early lead from the penalty spot but Antoine Griezmann equalised in the 76th minute with a spot kick of their own. This was before second-half substitute Sorloth bagged his fifth goal of the season to seal all three points. Atletico provisionally moved up to second in LaLiga,…

Manchester City’s Unbeaten Home Run Ends with Shock 4-0 loss to Spurs Manchester City’s misery continued with a shock 4-0 Premier League rout by Tottenham Hotspur at Etihad Stadium on Saturday. This marks the first time in Pep Guardiola’s dazzling managerial career that he has lost five games in a row across all competitions. James Maddison scored twice in the span of seven first-half minutes, while Pedro Porro netted shortly after the break and Brennan Johnson added a fourth goal deep in added time. The loss ended City’s club record run of 52 consecutive home matches unbeaten in all competitions.…