INSTANT NEWS

 The Senate has declared its determination to ensure the dismissal and prosecution of the Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, along with other top executives. This stern stance follows the alleged expenditure of N12 trillion on the turn-around maintenance (TAM) of the country's non-operational...

 Human rights lawyer and Senior Advocate of Nigeria (SAN), Femi Falana, has urged Finance Minister Olawale Edun to compel the Nigerian National Petroleum Company Limited (NNPCL) to remit $34.2 billion to the federation account. This substantial sum represents money received on behalf of the government from Nigeria LNG Limited (NLNG) between the years 2004...

In a letter dated July 28, 2023, the President of Nigeria made a significant move in the ongoing fight against corruption. He appointed Jim Obazee, the Chief Executive Officer of the Financial Reporting Council of Nigeria, as the Special Investigator with immediate effect. The primary task assigned to Obazee is to conduct a thorough investigation into the Central...

 In a surprising turn of events, President Bola Tinubu has suspended Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), following an ongoing investigation initiated by the House of Representatives. The suspension has raised speculation about the motives behind the decision, and it has also led to allegations of terrorism financing against...

Cars 1960 Limited boasts of its services in Nigeria and shares the following facts that make them the best in the nation.They have made known;Cars 1960 is the best car auction company in Nigeria with experience spanning over a period of 2 decades.Our increase in customer base is an index factor to our quality services and acceptability. At Cars1960 customer...

As part of the activities to celebrate its 75th anniversary, Wema Bank, the custodian of Africa’s first fully digital bank – ALAT – and one of Nigeria’s leading commercial banks has introduced an Earn-from-Home scheme. Celebrated as Nigeria’s most innovative financial institution, Wema Bank has achieved tremendous success over the years from its willingness...

The Central Bank of Nigeria (CBN) said it has resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and SMEs wishing to make essential imports needed to revamp economic activities across the country. CBN said in a statement that the move was in view of the gradual easing of the COVID-19 lockdown...

Netflix now worth more than ExxonMobil as value reaches $196bn Netflix has become a more valuable company than the US oil giant ExxonMobil, as the streaming service benefits from increased viewing of television and films during coronavirus lockdown, the Guardian reports. Netflix now worth more than ExxonMobil as value reaches $196bn. Netflix, Inc. (/ˈnɛtflɪks/)...

The Federal Government has commenced the disbursement of N5000 to over 1millioin indigents across the country. The disbursement came following the directive by President Muhammadu Buhari that the conditional cash transfers for the next two months be paid immediately to beneficiaries. The disbursement was done on Wednesday in Kwali Central Area Council...

The Central Bank of Nigeria (CBN) on Wednesday offered Nigerian Treasury Bills worth of N95.681 billion as a debt instrument through Primary Market Auction to the public. The results of the auction seen at the end of trading showed that the fixed income instrument was over-subscribed by 59 per cent, as total demand was put at N161.385 billion. However, the...

The Chief Executive Officer of Zenith Bank Plc, Ebenezer Onyeagwu, said the tier-1 bank has begun collaborating with fintech companies to drive payment solutions and other products for its customers. This comes as the Nigerian digital economy keeps evolving significantly, even as more people continue to switch from the conventional ways of transaction...

The House of Representatives on Wednesday began the process to investigate the excessive charges by Banks on accounts of both private and public customers, including that of the National Assembly. The House consequently, mandated its Committee on Banking and Finance to liaise with relevant Agencies to determine the reasons for the excessive charges on...

The Senate on Wednesday approved the nomination of Kingsley Isitua Obiora as Deputy Governor of the Central Bank of Nigeria. President Muhammadu Buhari had asked the Senate to okay the nomination of Obiora as Deputy Governor of the Central Bank of Nigeria. Buhari’s request was contained in a letter addressed to the Senate President, Ahmad Lawan which was...

Zenith Bank Plc has traded in a range between N16 per share and N26.2 per share in the past year. Its one year stock return stands at -11.4 percent, even as after-tax profits rose by 8 percent according to its 2019 results released on Friday. The stock still trades at a discount to book value with price-to-book (P/B) ratio of 0.71, all the while sporting...

The Central Bank of Nigeria (CBN) has disclosed plans to commence recycling of mutilated naira notes by partnering with private firms in the country. The apex bank disclosed that although it destroys about 100 tonnes of bad naira notes weekly through open-air burning at the 12 disposal centres stationed across the country. The regulator...

Nigeria’s leading financial institution, Zenith Bank Plc has introduced a new product, Z-Woman, which is focused on empowering female business owners. Z-Woman account holders stand a chance to enjoy loans of up to N10 million at a single-digit interest rate, free digital skills training, and free exhibition stands at Zenith Bank events...

Mr Oscar Onyema, Chief Executive Officers of Nigerian Stock Exchange (NSE) says securities lending will witness exponential growth with the elimination of tax on manufactured dividend arising from securities loan transaction by the Finance Act. Onyema made the assertion at a symposium on the Finance Act, organised by the exchange in partnership with KPMG...

The boards of directors of  Zenith Bank Plc, Guaranty Trust Bank (GTBank) Plc and Access Bank Plc and have scheduled meetings later this month to consider and approve the audited financial statement and accounts of the banks for the year ended December 31, 2019. The meetings will among others consider final dividend recommendation to be made to shareholders. The...

Nigerian equities recorded the second consecutive negative trading on Wednesday as continuing profit-taking transactions shaved off N114 billion from market capitalisation. The All Share Index (ASI)- the value-based common index that tracks share prices at the Nigerian Stock Exchange (NSE), dropped by 0.74 per cent to close at 29,062.50 points as against...

Zenith Bank Plc has re-instated its commitment to the development of sports in Nigeria with a pledge to maintain its leadership position in this direction. The bank’s Group Managing Director, Ebenezer Onyeagwu, who stated this, stressed that in the New Year (2020), the outfit would continue in its great support for sports in the country. Onyeagwu who laid...