Business

The Nigerian economy over the past six months was characterized by diverse economic vulnerabilities. These include the following: • Unprecedented surge in energy prices which had a very huge adverse effect on economic players across all sectors. • Unprecedented level of currency depreciation and currency volatility. • Increasingly weak fiscal space. • Acute foreign exchange […]

By Eyo Nsima FBN Holdings Plc, has explained its position on the Federal High Court granting an ex-parte order against it and some respondents over its 10th Annual General Meeting, AGM, adding that the meeting was validly held with all regulatory and statutory parties in attendance. In a statement sent to the Nigerian Exchange Limited,

By Eyo Nsima The Monetary Policy Committee, MPC, of the Central Bank of Nigeria, CBN, has increased the Monetary Policy Rate (MPR) – benchmark interest rate that guides all other rates in the money market – by another 100 basis points (bps) to 14 per cent from 13 per cent. The Committee had, at its

Purple Real Estate Income limited (“PREIL”), Nigeria’s breakthrough real estate investment platform, today announced the signing of agreements with Genesis Cinemas, Market Square and The Ventures Park to be the anchor tenants and partners at the PurpleLekki, a new development scheduled to open in late 2022. The 38,000 square metre Purple Lekki will encompass a

PwC Nigeria has announced the admission of five new partners effective July 1, 2022. They are Abisola Atitebi, Habeeb Jaiyeola, and Femi Madariola from the firm’s Assurance practice, and Gbenga Adepetu and Tiwalade Otufale from Advisory and Tax, respectively. A record 36 new partners joined the partnership in PwC Africa, of which 51% are female.

The Nigerian Content Development and Monitoring Board (NCDMB) and the National Insurance Commission (NAICOM) have signed insurance services guidelines that will oblige the oil and gas industry to patronize the local insurance sector, thereby retaining spending on the economy. The guidelines will also address loopholes that have been identified while implementing the provisions of the

By Eyo Nsima The Lagos Chamber of Commerce and Industry, LCCI, said the recent hike in the Monetary Policy Rate (MPR) by the Monetary Policy Committee of the Central Bank of Nigeria (CBN) from 11.5% to 13% was well expected by the Chamber following recent fundamentals in the economy. In a statement obtained by The

The outcome of the MPC meeting of 24th May 2022 was not unexpected having regard to the intense inflationary pressures, the increasing risks to price stability and the policy tightening trend by Central Banks globally. The primary mandate of the CBN is price stability. Numerous headwinds had posed significant risks to this critical CBN objective.