Final Countdown Commences for Wema Bank's 5for5 Promo Season 2 Grand Finale
Final Countdown Commences for Wema Bank's 5for5 Promo Season 2 Grand Finale The second edition of the ALAT 5for5 promo, a six-month-long mega reward programme, is set to witness an all-action finale this month that will see both new and existing customers in attendance in Lagos. The Promo, which commenced on June 1st, 2022 is set to come to a fitting conclusion on Friday, January 20th, 2023-the day of the live draws, after an exciting season marked by monthly rewards, account activation events, incentives for app downloads, and other un…
Redesigned Naira: CBN to monitor compliance by commercial banks
Redesigned Naira: CBN to monitor compliance by commercial banks Stakeholders hail CBN’s decision on reduction of ATM withdrawal charges, others The Central Bank of Nigeria (CBN) will monitoring commercial banks to ensure that they comply with the directive of loading the redesigned Naira notes in their Automated Teller Machines (ATMs). CBN Director, Currency Operations, Mr Ahmed Umar, made this known in Abuja on Monday at the Training Session for State Directors, National Orientation Agency (NOA) on Redesign of Currency Notes Policy. Umar said…
Naira bounces back slightly against dollar
Naira bounces back slightly against dollar The naira on Monday exchanged at N446 to the dollar at the Investors and Exporters window in Lagos, Southwest Nigeria. The figure represented an appreciation by 0.11 per cent, compared with the N446.50 it exchanged at the close of business on Dec. 9. The open indicative rate closed at N445.20 to the dollar on Monday. An exchange rate of N450 to the dollar was the highest rate recorded within the day’s trading before it settled at N446. The naira sold for as low as N435.50 to the dollar within the day…
Tony Elumelu: Buhari's testimony
Tony Elumelu: Buhari's testimony Tony Elumelu receiving award from President Buhari What a delightful week it has been for Mr Tony Elumelu, Chairman of United Bank for Africa (UBA), Heirs Holdings, and the Tony Elumelu Foundation. On Monday, he stood tall in Sokoto at the Chief of Army Staff Annual Conference to receive a Recognition Award, handed out by no less a person than President Muhammadu Buhari himself. Elumelu was recognized alongside the Chairman of Dangote Group, Alhaji Aliko Dangote, Chairman of BUA Group, Alha…
PRESS RELEASE Nestlé Professional takes the Business of Food to Port Harcourt
PRESS RELEASE Nestlé Professional takes the Business of Food to Port Harcourt The importance of canteens and ‘bukas’ who serve those with limited disposable income in Nigeria cannot be overemphasized. Yet, these food vendors and caterers who help to meet the nutrition needs of busy urban communities every day, do not always get the support they need to build successful businesses. The business of food goes beyond just cooking. Nutrition, pricing, styling, taste, hygiene, are essential to the growth of the business and the safety of the c…
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Sale of rice, oil to prevent hoarding – says LASG
Sale of rice, oil to prevent hoarding – says LASG The Lagos State Agricultural Inputs Supply Authority (LAISA) has started selling rice and other foodstuffs at reduced prices to prevent hoarding and overpricing during the yuletide. Mr Jide Ajenifuja, Assistant General Manager, Commercial, LAISA, made this known to the News Agency of Nigeria (NAN) in Lagos on Tuesday. He said that the sale is aimed at stabilising the market prices and not taking over businesses from traders in the market. “In agribusiness, the moment government comes with the p…
Nestlé partners with Africa Food Prize to strengthen food security and climate change resilience
Nestlé partners with Africa Food Prize to strengthen food security and climate change resilience Nestlé announced today that it is partnering with the Africa Food Prize to help accelerate the transformation of food systems in Africa, as a way of strengthening the continent’s food security and building greater climate change resilience. MONICA MODESTA KAMANGE- RICE FARMER AT ITUNUNDU, KAMANGE WARD, PAWAGA VILLAGE IRINGA TANZANIA The Africa Food Prize awards USD 100,000 to individuals and institutions that are pioneering agricultural and food sy…
First Bank Asked Customer to Unblock Her Account, Then N900,000 Vanished
First Bank Asked Customer to Unblock Her Account, Then N900,000 Vanished Muibat Olayemi, a Lagos coconut trader, has accused First Bank of negligence resulting in the loss of the N900,000 in her account to unknown persons. Jamiu Olayemi, Muibat’s son, told FIJ that a man approached his mother as an Airtel service agent on October 10, asking for her phone in order to determine whether her National Identity Number (NIN) was linked to her phone number. The next day, Muibat visited the First Bank branch in Abule Egba and realised that N190,000…
UPDC REIT ANNOUNCES DIVIDEND PAYMENT OF 17 KOBO and 1 KOBO PER SHARE
UPDC REIT ANNOUNCES DIVIDEND PAYMENT OF 17 KOBO and 1 KOBO PER SHARE UPDC Real Estate Investment Trust (UPDC REIT), the largest real estate investment trust in Nigeria by market capitalisation on the Nigerian Exchange Limited (NGX), has announced a 2021 final distribution of one kobo per unit and 2022 interim distribution of 17 kobo per unit to its unitholders. According to the Fund Manager of the REIT, Stanbic IBTC Asset Management, distributions will be paid to unitholders whose names appear in the register of members at the close of busin…
Nestlé Nigeria Media Awards 2022
Nestlé Nigeria Media Awards 2022 Nestlé Nigeria Media Awards Aims to reward professionalism and excellence in reporting and storytelling around Nestlé’s focus areas comprising – Affordable Nutrition, Environmental Sustainability, Youth Empowerment, Women Empowerment, Engendering Thriving Communities, and Agriculture. Scope of Awards Participation is open to mainstream and online journalists from all over Nigeria. Entries must be published stories on Nestlé’s focus areas – Affordable Nutrition, Environmental Sustainability, Youth Empowerm…
Agric minister allays fear over imminent food scarcity
Agric minister allays fear over imminent food scarcity The Minister of Agriculture and Rural Development, Dr. Mohammed Abubakar, has allayed fears being nursed by some Nigerians on imminent food scarcity in the country, arising from flooding and security challenges. Abubakar allayed the fears in Abuja Monday during 2023 budget defence session his ministry had with the National Assembly joint committee on Agriculture. Some members of Senator Yahaya Abdullahi-led Committee had in their interface with the Minister, decried the effect of floodin…
Central Bank Has My Support To Redesign, Replace Naira Notes; It Will Hit Those Who Buried Money In The Ground—Buhari
Central Bank Has My Support To Redesign, Replace Naira Notes; It Will Hit Those Who Buried Money In The Ground—Buhari Buhari stated this in reaction to the outrage that greeted the announcement of the plan to introduce the redesigned naira notes into circulation. President Muhammadu Buhari on Sunday said he gave the Central Bank of Nigeria (CBN) approval to redesign and replace N1,000, N500 and N200 notes, effective December 15. Buhari stated this in reaction to the outrage that greeted the announcement of the plan to introduce the redesigned …
Ten Facts to note about Polaris Bank.
Ten Facts to note about Polaris Bank. The headlines have been buzzing with the news of the sale of Polaris bank. Here are ten important facts to note: * Polaris Bank was created as a bridge bank. This means that it was created to manage the assets and liabilities of another bank which failed (in this case, Skye Bank). The regulatory authorities intervened to stabilize the bank with the much-needed liquidity. The bank has since grown and its roots are grounded in the Nigerian financial ecosystem thus now fit for ownership by competent and capab…
Dangote/Kogi feud: BUA withdraws interest in 50,000-hectare land
Dangote/Kogi feud: BUA withdraws interest in 50,000-hectare land BUA Group, a multi-billion company involved in foods, infrastructure and manufacturing, has withdrawn its interest in the 50,000 hectares of land in Kogi State over failure to meet its intended purposes. This comes after the Kogi State Assembly threatened to revoke the Certificate of Occupancy on the land allocated to the company for investment purposes in 2012 for non-payment of compensation. A statement by the company, Tuesday, made available to newsmen disclosed that since th…
Dangote’s 650,000bpd Refinery 97% Completed, says NMDPRA …Naira will become stronger once Refinery starts production
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has disclosed that the Dangote Petroleum Refinery, upon which the hope of the nation rests for fuel sufficiency is now 97 percent completed. The agency has also commended the work done in the project. The refinery, with 650,000 barrels per-day installed capacity is expected to double the total output of Nigeria’s existing ailing refining infrastructure and meet 100 per cent of the Nigerian requirement of all refined products will pump out fuel any moment soon,…
FIRSTBANK PARTNERS VERVE INTERNATIONAL, MAKES CUSTOMERS MILLIONAIRES IN THE FIRSTBANK VERVE CARD PROMO
FIRSTBANK PARTNERS VERVE INTERNATIONAL, MAKES CUSTOMERS MILLIONAIRES IN THE FIRSTBANK VERVE CARD PROMO In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions. The ongoing 2-month promo will e…
Consumers Groan Over Rising Inflation
Consumers Groan Over Rising Inflation There is no denying the fact that not a few consumers are groaning under the increasing rate of inflation which has made most essential goods and services to be unaffordable across markets. Ostensibly to buttress the unfavorable market situation, the National Bureau of Statistics (NBS) in its recent Report on inflation says the inflation rate rose to 20.52 percent August 2022. In its report titled, ‘CPI and Inflation Report August 2022’, the Bureau stated, “In August 2022, on a year–on–year basis, the head…
Firm To Construct 10,000 Housing Units In Abuja
Firm To Construct 10,000 Housing Units In Abuja A real estate company based in Abuja, Zoe New Dawn Nigeria Limited, has begun the construction of 10,000 mass housing units in Hill City Community, Lugbe, Federal Capital Territory (FCT). Chairman of the firm, Engr Stephen Achema, while briefing journalists in Abuja, said the community would feature a variety of building designs and smart homes for everyone regardless of financial capability. Achema said the Hill City Community project was dear to his heart because it would address the needs of t…
Nigeria will stop petrol import from mid-2023 – Kyari
Nigeria will stop petrol import from mid-2023 – Kyari With the expected completion of the ongoing maintenance of the nation’s refineries and the almost completed Dangote Refinery, Nigeria will no longer import refined products from mid-2023, Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, has stated. He disclosed this on Tuesday while speaking to State House Correspondents. He also revealed that the NNPC shut pipelines down for inability to meet production cost due to losses. Kyari, who spoke dur…
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