AI Technology and National Security Initiatives, by Inyene Ibanga Governments around the world are developing integrated frameworks for the adoption and deployment of information and communications technology (ICT) in their national security architectures. Today, technology is playing a significant role in the operations of various security/defence organisations in advanced economies such as the […]
Nigeria’s Diaspora Remittances To Hit $22bn Nigeria’s diaspora remittances have been projected to rise by five per cent to $22bn by the end of 2021. Agusto Consulting Limited, a wholly owned subsidiary of a rating agency, Agusto & Co. Limited, disclosed this in its report titled ‘2021 Nigeria diaspora remittance report […]
Dangote Cement, 20 Others Lift Capitalisation By N36bn Trading activities on the Nigerian Exchange Limited (NGX) extended bullish run to two consecutive trading sessions yesterday, as investors’ wealth appreciated by N36 billion. Yesterday’s improved performance was spurred by investors’ sustained appetite in the shares of Dangote Cement and 20 others. The all-share […]
Banks Slash Dollar-cash Deposits to $5,000 Monthly Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity confirmed the new policy yesterday. However, the new policy does not apply to customers […]
Nigeria Rebalances OPEC Quota Compliance, Cuts Output By 7% Nigeria has been forced to rebalance its oil output, effecting about 7.0 percent cut back on its oil output to re-align with the quota imposed by the Organisation of Petroleum Exporting Countries, OPEC. The nation’s output in the month of April was put […]
$100m Lost As NNPC Gives Bunkering Service To Foreigners – SOAN Shipowners Association of Nigeria (SOAN) has said that $100 million is lost to capital flight as the Nigerian National Petroleum Corporation (NNPC) recently contracted coastal and bunkering vessel services to a foreign shipping company, Messrs UNIBROS. In a petition to the […]
NSIA Revenue Increases By 343% To N160bn The Nigeria Sovereign Investment Authority, manager of Nigeria’s sovereign wealth fund, on Tuesday announced its audited results for 2020 financial year, reflecting a 343 per cent growth in income to N160bn. It said this was disclosed in its Audited Financial Results for 2020 Financial Year […]
DBN Gets Tripple “AAA” Long Term Rating from GCR Global Credit Ratings (GCR), one of the leading rating agencies in Africa, has assigned the Development Bank of Nigeria a “AAA” Long Term National Scale rating. GCR stated this on its website. The conferment, which is the highest rating for financial institutions, is in line with […]
12 Banks Earned N461.51bn Interest In Three Months Twelve commercial banks in Nigeria earned a total of N461.51bn in net interest income in the first three months of this year, up from N451.14bn in the same period of 2020. An analysis of data from their unaudited financial statements for the period ended […]
NGX Begins Week With N59bn Gain The nation’s bourse opened trading for the new week on Monday on a positive note with a growth of N59 billion, following interests in Tier 1 banks. Specifically, the market capitalisation which opened at N20.431 trillion inched higher by N59 billion to close at N20.490 trillion. […]
