Reps Propose Banning GSM Providers from Reselling Registered SIMs Cards
The House of Representative has proposed the prohibition of the resale of already purchased and registered Subscriber Identity Module (SIM) cards by Global System for Mobile Communications (GSM) providers in Nigeria. The motion was moved on Tuesday at the plenary…
Fitch Foresees Upgrade of Ecobank’s National Ratings As Exchange-rate Volatility Recedes
Fitch Ratings says it foresees an upgrade of ENG’s National Ratings which would result from strengthening its creditworthiness relative to other Nigerian issuers. According to the international rating agency, it expects to resolve the Rating Watch Negative (RWN) of ENG…
Stanbic IBTC Holdings Receives ‘AAA(nga)’ Rating Affirmation from Fitch Ratings
Stanbic IBTC Holdings PLC, a leading end-to-end financial institution in Nigeria, has received a significant affirmation of its creditworthiness as Fitch Ratings reaffirms its National Long-Term Ratings at ‘AAA(nga)’ with a Stable Outlook. The rating also extends to its subsidiary,…
VP Launches Assembled In Nigeria Electric Car
Nigeria’s Vice President, Kashim Shettima has launched an assembled and designed in Nigeria, electric car. This is after the National Economic Council, NEC backed the move by the National Automotive Design and Development Council, NADDC, to begin mass production of…
Folashodun Shonubi: All You Need To Know About New Acting CBN Governor.
Following the suspension of the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, President Bola Tinubu has tasked the Deputy Governor, Operations Directorate, Mr. Folashodun Adebisi Shonubi, to lead the country’s apex financial institution in an acting capacity….
Unity Bank Grows Gross Earnings to N57bn in 2022FY, Builds Momentum as Profit Grows By 21% in Q1/2023
Nigeria’s retail lender, Unity Bank Plc, has posted a Profit Before Tax of N1.1 billion for its full-year results that ended Dec 2022, even as its gross earnings rose by 13.1% to N57 billion from N50.2 billion in the corresponding…
CBN Increases Interest Rate For 3rd Consecutive Time
For the third consecutive time Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has raised the interest rate from 18 percent to 18.5 percent. The CBN governor, Godwin Emefiele, announced the decision on Wednesday after a meeting of the…
(Full List) CBN Revokes Licences Of Microfinance Banks, Financial Institutions
Nigeria’s apex bank, the Central Bank of Nigeria (CBN) has revoked the operating licences of 132 microfinance banks, four primary mortgage banks, and three finance companies in the country. The revocation exercise was disclosed in the official gazette of the…
TCN Loses 9 Towers Due To Activities Of Vandals, Power Supply Disrupted
The Transmission Company Of Nigeria (TCN) has lost nine towers, from tower 56 to tower 65 along the Papalanto/Abeokuta 132KV transmission line, leading to the disruption of power supply in parts of Ogun State. The towers collapsed due to the…
Sustained Project Implementation: TCN Boosts Bulk Power Transmission Through Kano Region
The Transmission Company of Nigeria (TCN) has made undeniable efforts in achieving improved bulk power transmission to the distribution load centers within its Kano Region through continued and sustained project implementation. The TCN’s General Manager, Public Affairs, Ndidi Mbah, in…
