AN executive director of United Bank for Africa, Ugochukwu Nwaghodoh and Group Company Secretary, Bili Odum, have acquired 27 million units of the financial group’s shares. The value of the newly acquired shares was about N701.49m, according to details of the transaction filed with the Nigerian Exchange Limited on Friday. …
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IN recent days, the Nigerian Naira has continued to exhibit signs of instability against the US dollar, despite various interventions by the Central Bank of Nigeria (CBN). The national currency’s fluctuations remain a concern as the CBN has implemented several policies aimed at stabilizing and strengthening the Naira in the foreign …
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THE Federal Government has denied media reports that it is proposing an increase in the Value Added Tax (VAT) rate. The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, made this known in a series of posts via his official X handle on Wednesday evening. Newsextra24 earlier …
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THE naira rose further on Monday in the parallel section of the foreign exchange (FX) market. At the Lagos street market, currency traders, also known as bureau de change (BDC) operators, quoted the naira at N1,100 to the greenback. The traders put the buying price of the dollar at N1,070 …
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ZENITH Bank’s after-tax profit surged 202 percent to N676.9 billion last year from N223.9 billion in 2022. The bank’s profit before tax increased to N796 billion from N284.7 billion as gross earnings jumped to N2.13 trillion from N945.6 billion. “The increase in gross earnings is primarily due to growth in …
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Abdul Samad Rabiu (ASR) Africa, an affiliate of BUA Group of Companies, turned the sod of a N250 million Administrative Block and Conference Room at Al-Qalam University, Katsina, on Thursday. In 2022, ASR Africa announced the launch of its 2023 Tertiary Education Grant Scheme to cover 22 institutions, one of …
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NIGERIA’s definitive bank for small and medium-sized businesses, as well as their customers and employees, Moniepoint Microfinance Bank, has unveiled its new Unstructured Supplementary Service Data, USSD service. This service, accessible via the account control code *5573#, offers a fast, secure, and user-friendly platform for consumers to conduct their banking …
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The Nigerian Naira has depreciated in value at the official market, with the exchange rate falling to N1,309.39 to a dollar, according to the latest data from the FMDQ trading platform. This represents a 0.69 percent decline from the previous day’s rate of N1,300.43 against the dollar. Despite this, trading volume …
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LAPO Microfinance Bank Limited, a leading microfinance institution in Nigeria, has announced its support for the NextechCzar Incubation Program, facilitated by the Moolu Venture Lab. The induction ceremony, marked by esteemed industry figures, witnessed Dr. Godwin Ehigiamusoe, the founder of LAPO MFB, and Mr. Prince Ogbonna, CEO of Moolu Venture, …
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Oil & Gas expert, James Arukhe emphasizes that Nigeria needs collaboration between government and private entities, alongside strategic investments, to fulfil its domestic and international energy commitments. “Meeting these obligations requires investments in infrastructure, technology, security, environmental sustainability, and human capital,” Arukhe stated. “Policy reforms are also crucial.” He emphasizes …
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