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Daniel Anomietei

Daniel Anomietei

2019 budget
BUSINESS & ECONOMY

The House of Representatives, on Wednesday, approved the sum of N1.64 trillion as a benchmark for borrowing to fund the 2019 budget deficit by the federal government. The amount is N202 billion short of the N1.86 trillion the ...
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AIB
AVIATION

Moves to boost the nation’s aviation sector may see the Federal Government spending N291,731,485 million in acquiring equipment that would aid the Accident Investigation Bureau (AIB) carry out its functions more effectively. This was made known by the ...
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afcfta
BUSINESS & ECONOMY

The board of the African Development Bank (AfDB) has approved an institutional support grant of $4.8m to the African Union, to accelerate the momentum of the African Continental Free Trade Area Agreement (AfCFTA). AfCFTA received its 22nd ratification ...
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DBN
SME Biz

Development Bank of Nigeria (DBN) disbursed N31 billion to Micro Small and Medium Enterprises (MSMEs) in the country in its first full year of operation in 2018. Managing Director of the bank, Mr. Tony Okpanachi, disclosed this at ...
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Dollar
BANKING & FINANCE NEWSLETTER

The dollar was flat versus a basket of currencies on Wednesday as a somewhat mixed report on domestic consumer prices reinforced the notion that underlying U.S. inflation remains tame and the Federal Reserve would keep rates on hold. ...
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Sterling
BANKING & FINANCE NEWSLETTER

Sterling edged up on Wednesday but remained within its recent trading range as investors prepared for the European Union to grant Britain a second Brexit delay that, while reducing the threat of a no-deal exit, creates new uncertainties. ...
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Gold
CHEMICAL & PETRO-CHEMICAL NEWSLETTER

Gold held steady near a two-week high on Wednesday as world equities retreated after the International Monetary Fund (IMF) cut its global growth outlook ahead of the release of minutes from the U.S. Federal Reserve’s March meeting. Spot ...
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Oil
NEWSLETTER OIL & GAS

Oil prices rose on Wednesday after U.S. data showing a hefty drawdown in gasoline stocks overshadowed crude inventories rising to their highest levels in more than a year, and as sanctions and blackouts in Venezuela helped tighten global ...
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Standard Chartered Bank
INTERNATIONAL NEWSLETTER

Standard Chartered Bank has opened its Africa eXellerator lab, an innovation hub that will serve as a platform to collaborate with fintech startups, in Nairobi, Kenya. The eXellerator, which joins counterparts located in Singapore, Hong Kong, London and ...
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InterswitchSPAK
EDUCATION & TRAINING

The qualifying examination for the InterswitchSPAK 2.0 competition will hold April 13, 2019. Registration for the schools and students commenced on the 7th March, and closed on April 7, 2019. This is the second edition of the InterswitchSPAK ...
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ABSA
BANKING & FINANCE

South African lender Absa is aiming to make a start on its investment bank-focused expansion into Nigeria in the second half of this year, chief executive of the division, Charles Russon, told Reuters. Absa, trying to make its ...
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Federal Reserve
INTERNATIONAL

The US Federal Reserve has proposed a new regulatory framework for foreign banks operating in the country. The move is aimed to tightening rules for risky foreign lenders, while easing regulatory requirements for stable foreign firms. The proposed ...
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Nigerian Stock Exchange
BUSINESS & ECONOMY Capital Market

The Nigerian equities market having experienced huge losses in all shares index and market capitalization in the first quarter of 2019, political risk concerns were said to have sustained the bearish trend throughout that period, making the market ...
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RIPAN
AGRIC BUSINESS

Rice Processors Association of Nigeria (RIPAN) at the weekend raised alarm over a renewed spate of smuggling in the country in recent times. According to RIPAN, over a million metric tons of rice have been smuggled in the ...
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SHIPPING & PORT SERVICES

The Nigerian Ports Authority (NPA) has said that it will begin automation of the call-up system in August. NPA’s General Manager, Corporate and Strategic Communication, Mr Adams Jatto, made this known in an interview with the News Agency ...
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AIHN
BUSINESS & ECONOMY

The Association of Issuing Houses of Nigeria (AIHN) has said that Nigeria needs capital investment of N35tn per annum to reverse negative trends in unemployment, poverty and see real growth. This was part of the recommendation released a ...
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Aramco
INTERNATIONAL

Orders for Saudi Aramco’s debut international bonds topped $85billion (about 65 billion sterling). Sources familiar with the matter said it was a record-breaking vote of market confidence for the oil giant. Aramco was expected to raise around $10billion ...
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DMO
BUSINESS & ECONOMY

The total external and domestic debts of States in Nigeria hit N5.15 trillion in 2018. This is revealed in the latest Domestic and External Debt Stocks Report, released by the Debt Management Office (DMO) for the last quarter ...
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Rail
TRANSPORT & LOGISTICS

The Federal Government has ordered two additional coaches for the Abuja-Kaduna rail service route to solve the passengers upsurge. Mr Rotimi Amaechi, Minister of Transportation, gave the directive on Monday during the monthly inspection of the ongoing Lagos-Ibadan ...
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Zamfara
MANUFACTURING

The minister of state for Mines and Steel Development, Abubakar Bawa Bwari stated that the decision to suspend mining activities in Zamfara State though unfortunate had to be taken as a result of the criminal activities by armed ...
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