Author: Olu Anisere

CBN Commences Regular Foreign Exchange Sales to Bridge Demand Gap The Central Bank of Nigeria (CBN) says it has commenced regular sale of foreign exchange (fx) through authorised dealer banks and licensed Bureaux De Change (BDCs) to bridge gap. The Director, Financial Markets Department, CBN, Ms Omolara Duke, said this in a statement on Friday in Abuja. Duke said that recent movements in fx market were largely driven by demand pressure from corporate entities and summer season uptik. She said that such fx supply was in line with the price stability mandate of the CBN, as well as its commitment…

FG Unveils Roadmap for Africa’s Digital Trade Revolution The Federal Government on Friday unveiled a comprehensive strategy to lead Africa’s digital trade revolution within the framework of the African Continental Free Trade Agreement (AfCFTA). Vice-President Kashim Shettima, said this while delivering a keynote address during a Stakeholders Summit held at the Presidential Villa, Abuja. He said the roadmap was part of the Renewed Hope Agenda of President Bola Tinubu’s administration. This, according to him, will harness trade as a catalyst for economic growth and continental cohesion in line with AfCFTA objectives. Shettima said Nigeria was in a unique position to…

Market Rules: TCN Suspends AEDC for Non-compliance The Abuja Electricity Distribution Company (AEDC) has been suspended by the Market Operator (MO) of the Transmission Company of Nigeria (TCN), for not complying with provisions of the market rules. Mr Ali Ahmad, Market Operator, TCN, said in Abuja on Friday that the notice of the suspension was communicated to AEDC after previously notifying AEDC it in writing of its default of the market rules. Ahmad said that AEDC also failed to provide the MO with an adequate Bank Guarantee in line with section 15.3.3 of the market rules. He said that AEDC…

NDPC Seeks Collaboration Across Sectors for Effective Data Protection The Nigeria Data Protection Commission (NDPC) on Friday called for collaboration from across all sectors for effective data protection. The National Commissioner, Dr Vincent Olatunji, made the call in his keynote address at the Centre for Business Law and Policy at the University of Lagos. The News Agency reports that the event had the theme: “One Year of Data Protection Act and Five Years of Regulating Data Processing in Nigeria: Prospects and Challenges.” Olatunji said that data protection was everyone’s business, noting that every individual and organisation played a critical role…

FG Targets 2million Installations Annually to Bridge Metering Gap The Minister of Power, Mr Adebayo Adelabu, says the Federal Government is targeting to install two million meters annually to bridge the metering gap in the country. Adelabu disclosed this on Friday during a facility tour of Metering Solutions Manufacturing Services Limited in Onna, Akwa Ibom. The minister who described metering deficit as a major challenge, said that the move would lead to improved electricity supply in the country. He expressed displeasure that the metering gap in the country was more than seven million, amounting to about 47 per cent meter…

The Lagos State Chapter of the Nigeria Labour Congress (NLC) has urged the state government to consider the peculiarities in

eTranzact, a Nigerian fintech company, is focusing on Merchant Acquisition and Direct-to-Consumer Market strategies to stay

The Federal Government has shut down an illegal gold mine site in Yagba East Local Government Area (LGA) of Kogi State.

The Debt Management Office (DMO) is offering three Federal Government of Nigeria (FGN) bonds valued at N300 billion for

The Benin Chamber of Commerce, Industry, Mines and Agriculture (BENCCIMA) has urged the Federal Government to evolve measures