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The Academic Staff Union of Universities (ASUU) has denied the reports that it received a sum of N163b from the Federal Government as part of its agreement to end the ongoing strike. In a statement signed by its zonal coordinator, Dr Ade Adejumo, the lecturers insisted that the claim was misleading. “The minister referred to the release of N163bn but ...
Business
January, 2019
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25 January
CBN worries over banks low performances, introduces tougher rules
Non-performing loans in the banking sector rose to N2.245tn in the third quarter of last year from N1.939tn in the second quarter. Lenders are struggling to contend with non-performing loans equal to 12.5 per cent of total credit. While these have improved from almost 15 per cent in 2017, many small- to medium-sized banks are battling to raise capital. And ...
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24 January
Bitcoin, world’s most popular cryptocurrency, makes waves in Nigeria
Bitcoin, the world’s most popular cryptocurrency, is making waves in Nigeria. According to Ray Youssef, CEO of cryptocurrency exchange Paxful, 41% of new users in 2018, hailed from Nigeria, Ghana, and South Africa. However, Nigerians who use Paxful to buy Bitcoin, often pay at least 20% more for Bitcoin than international users. Buy Bitcoin in Nigeria Without Paying Surcharges Demand ...
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23 January
CBN set to remove dirty banknotes from circulation
Central Bank of Nigeria on Wednesday issued banknotes fitness guidelines to commercial and microfinance banks to sustain public confidence in the nation’s currency. This is contained in a circular issued by the CBN Deputy Governor, Operations, Mrs Folashodun Shonubi and Director, Currency Operation, Mrs Priscilla Eleje in Lagos. According to the apex bank, third party service providers and the general ...
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23 January
Fayemi’s 2nd missionary journey, after 4yrs in wilderness..a peep into 1st 100 days
By afolabi ODEYEMI. Dr Fayemi, a man with clear vision who firmly believe he is on a mission was inaugurated as Governor of Ekiti State on October 16, 2018. The administration is 100 days in office today. This is his second time around.,,and the policy thrust and Campaign mantra of the new administration ‘Reclaiming Our Land,Restoring Our Values is an ...
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20 January
Jimoh Ibrahim mother,76, burnt to death!
Madam Theresa Jimoh, the mother of billionaire business mogul, Mr Jimoh Ibrahim, was at the early hours of Saturday burnt to death in a fire which engulfed her Lagos apartment. The 76-year-old grandmother was said to be inside her house in the Victoria Garden City (VGC), Lagos, when a fire broke out in her residence at the early hours of ...
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17 January
UBA gives N30m to 20 Wise Savers promo winners
United Bank for Africa (UBA) on Tuesday gave N30 million to 20 customers that emerged winners at the first quarterly draw of the ongoing UBA Wise Savers promo. The promo, which runs for one year, will see another 60 customers winning N90 million in the three remaining quarters of the year. This will bring the total wins to N120 million by ...
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17 January
Shell should lose oil block over $1.04billion Malabu deal
Four international anti-graft groups have protested against plans for an out-of-court settlement with Royal Dutch Shell (RDS) Plc and Shell Nigeria Exploration and Production Company (“SNEPCO”) over Oil Prospecting Licence (OPL) 245, which is otherwise called Malabu Oil Block. They asked The Netherland Government to ensure that Shell loses the oil block, explaining that since four former Shell employees, including ...
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16 January
Prices of new Nigerian e-passport with 10 years validity
new prices for Nigerian e-passports The Federal Government of Nigeria has introduced a new Nigerian e-passport with 10 years validity. Below are the prices for Nigerian e-passports: 32 pages e-passports = N25,000 OR $130 for those abroad – 5 years validity period; 64 pages e-passports = N35,000 OR $150 for those abroad – 5 years validity period; 64 pages e-passports ...
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11 January
GTBank Market Cap BIGGER Than Smallest Ten Banks; 15 Banks Trading In Nigeria
On pure market cap on the Nigerian Stock Exchange (NSE), GTBank remains the most dominant financial institution in Nigeria. GTBank can trade the ten “smallest” banks, based on market cap, with its market cap [sure, deals include premiums; this is pure academic here]. We have 15 banks trading on NSE; GTBank commands 26% of the total bank value, by market ...
