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According to analysts, the Central Bank of Nigeria's (CBN) Monetary Policy Committee (MPC) may progressively reduce the MPR by 50 basis points during its September 22 and 23 meeting. They warned that even while the naira has stayed mostly constant and inflation has continued to decline, the MPC may change its mind and gradually move toward monetary easing. Cordros Securities analysts felt that the Committee might start a slow shift toward monetary easing since important macroeconomic indicators point to increased…

Before the tech system was introduced in 2021, Trucks Transit Parks lost ₦2.5 trillion a year owing to inefficiencies. According to Jama Onwubariri, Managing Director, the company saves $1.7 million a year for the maritime industry with Étó's electronic call system. Ninety percent of the things we need on a daily basis are imported and delivered through Nigerian ports, according to the managing director, who made the revelation during a press conference at the Lilypond Container Terminal in Lagos. According to him,…

In accordance with the Bank and Other Financial Institutions Act (BOFIA) 2020, Apices Finance Company Limited has been authorized by the Central Bank of Nigeria (CBN) to function as a finance company. On Thursday, the CBN's director of financial policy and regulation, Rita Sike, signed a letter expressing the consent. In an effort to increase financial inclusion and diversify credit availability through non-bank financial institutions, CBN verified that Apices complied with all legal requirements to start operations.…

By Tope Kolawole  No fewer than 500 lawyers, professionals and civil rights activists on Wednesday stormed the headquarters of the Economic and Financial Crimes Commission (EFCC) in Abuja calling for strict and continuous prosecution of Mele Kyari, former Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPCL) Limited. Labeling the $4 billion squandered on failed refinery rehabilitation projects as “economic treason,” the group, under the aegis of Concerned Lawyers and Citizens…