Money

SEC reassures adequate regulation to grow digital assets industry

DailyTimesNGR DailyTimesNGR 17 September 2024 0

The Securities and Exchange Commission (SEC) has assured stakeholders in the Digital Assets space of providing the necessary guidance that will grow the industry, create wealth for Nigerians and lead to economic growth and development. Director-general of SEC, Dr Emomotimi Agama said, the

Money

Nigeria’s inflation slows to 32.15% in August amid high food prices

DailyTimesNGR DailyTimesNGR 17 September 2024 0

BY MOTOLANI OSENI Nigeria’s headline inflation rate eased to 32.15 per cent in August 2024, a slight improvement from the 33.40 per cent recorded in July, according to the latest Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). This marks the second consecutive month of deceleration in inflation, reflecting a 1.25 […]

Money

FMDQ Group boosts youth financial literacy at 2024 summer camp

DailyTimesNGR DailyTimesNGR 7 September 2024 0

BY MOTOLANI OSENI FMDQ Group PLC, through its flagship CSR initiative, FMDQ Next Generation Financial Markets Empowerment Programme (FMDQ-Next), successfully wrapped up the 5th edition of its Summer Camp Programme in Lagos, held from August 7 to 30, 2024. The explained that the program aimed to strengthen financial literacy among primary and secondary school students, […]

Money

Africa Breakfast Convos: Allison, BHM drive sustainable growth, social impact amid $53bn African investment surge

DailyTimesNGR DailyTimesNGR 7 September 2024 0

BY MOTOLANI OSENI Amid a surge of $53 billion in African investments, global communications consultancy Allison and Africa’s leading public relations firm BHM have teamed up to launch “Africa Breakfast Convos” at UNGA79. This exclusive event, set to take place in New York City, aims to drive sustainable growth and social impact across the continent, […]

Money

Afrigopay launches instant credit for PoS transactions, enhancing merchant cash flow

DailyTimesNGR DailyTimesNGR 22 August 2024 0

The instant settlement which provides merchants with instant credit for transactions, thereby enhancing cash flow and reducing risks associated with delays or disputes, marks a significant advancement in the global payment landscape. Speaking on the development, the managing director and chief executive of Nigeria Interbank Settlement System (NIBSS), the parent company of

Money

NERC grants mini grid permits to MTN, Golden Penny Power, others

DailyTimesNGR DailyTimesNGR 22 August 2024 0

BY MOTOLANI OSENI The Nigerian Electricity Regulatory Commission (NERC) has issued permits to MTN Communications Nigeria Limited, Golden Penny Power Limited, Havenhill Synergy, and other companies for mini-grid electricity generation. This development is part of a broader push to enhance off-grid power solutions across the country. In the first quarter of 2024, NERC

Money

Nigeria risks legal breach with mandatory crude allocation to local refineries, warns IPPG

DailyTimesNGR DailyTimesNGR 22 August 2024 0

The Federal Government has been informed that it is close to violating existing laws by issuing mandatory sale of crude oil to Dangote Refinery and its local counterparts in Naira. An umbrella Association of indigenous oil and gas-producing firms, the Independent Petroleum Producers Group (IPPG), while expressing its members’ rejection of the directive by President […]

Money

Banks, Fintechs to integrate seamless data bundle services via S.Mobile API

DailyTimesNGR DailyTimesNGR 22 August 2024 0

BY MOTOLANI OSENI Banks and fintech companies can now integrate data bundle service directly into their platforms, with the Application Programming Interface (API) designed by S.Mobile for MTN data bundle distribution. S.Mobile’s API is designed to empower banks and fintech companies to provide customers with a more streamlined and convenient way to purchase and manage

Money

Emerging-market assets climb as PPI data fuels bets on Fed cut

DailyTimesNGR DailyTimesNGR 19 August 2024 0

By Godwin Anyebe Stocks and currencies in developing economies advanced recently after the latest US data fueled wagers that the Federal Reserve will start lowering interest rates as early as next month. The MSCI Inc. gauge for emerging-market currencies ended the day 0.1 per cent higher, with the Polish zloty and the Hungarian forint leading […]

Money

Zenith Bank to expand global operations with N290bn hybrid offer

DailyTimesNGR DailyTimesNGR 13 August 2024 0

..Assures shareholders of improved dividend payment BY TEMITPE ADEBAYO Zenith Bank Plc has said part of its ongoing N290 billion hybrid offers will be used for the growth and expansion of its global operation. The Bank is raising N290 billion through a combination of a rights issue and a public offer. The rights issue offers […]

Money

Amo Farm Sieberer launches Noiler City to tackle rising food costs

DailyTimesNGR DailyTimesNGR 12 August 2024 0

Amo Farm Sieberer Hatchery Ltd has launched its latest initiative, Noiler City, aimed at providing a sustainable solution to the soaring food prices in the country. This groundbreaking project comes in response to the staggering increase in egg and meat prices, as highlighted by the National Bureau of Statistics (NBS) Food Price Report for January […]

Money

Heritage Bank depositors receive 82.36% of insured funds as NDIC expedites reimbursement

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY TEMITOPE ADEBAYO In a landmark move following the closure of Heritage Bank, the Nigeria Deposit Insurance Corporation (NDIC) has announced that it has successfully disbursed 82.36 per cent of insured deposits to affected customers. This significant progress comes in the wake of the Central Bank of Nigeria (CBN) revoking Heritage Bank’s banking license on […]

Money

Nigeria’s manufacturing sector struggles with FX crisis, inflationary pressures

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY MOTOLANI OSENI Economic and policy analysts have highlighted how Nigeria’s manufacturing sector is facing significant challenges, primarily attributed to ongoing foreign exchange volatility, high import duties, pervasive insecurity, and persistent inflation. According to them, these factors, coupled with the exit of multinational companies (MNCs), have undermined

Money

Union Bank upgrades to PCIDSS v4.0 certification

DailyTimesNGR DailyTimesNGR 12 August 2024 0

Union Bank, one of Nigeria’s most noteworthy and trusted financial institutions, has received another significant recognition with its recent attainment of the Payment Card Industry Data Security Standard (PCIDSS) version 4.0 certification. This notable achievement, which is an upgrade from the previously awarded Payment Card Industry Data Security Standard (PCIDSS)

Money

Equities investors gain N481bn as market surges 0.87% w/w

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY MOTOLANI OSENI Investors reaped substantial rewards last week as the Nigerian equities market surged 0.87 per cent, with the All-Share Index closing at 98,592.12 points, as the market capitalisation saw a significant boost of N481 billion, reaching a total of N55.978 trillion. This uptick, driven by renewed interest in financial and consumer goods stocks, […]

Money

Naira outside banks hits record high of 93.6%, reaching N4.04trn – CBN

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY TEMITOPE ADEBAYO A striking 93.6 per cent of Nigeria’s currency is now held outside the banking sector, according to recent data from the Central Bank of Nigeria (CBN). This unprecedented figure, which surged to N4.04 trillion in June 2024, reflects a dramatic increase in the amount of money circulating beyond the banks. The CBN’s […]

Money

Pernod Ricard Nigeria appoints Arthur as New Head of Portfolio

DailyTimesNGR DailyTimesNGR 12 August 2024 0

Pernod Ricard Nigeria has appointed of Ehianeta Ojie Arthur as the new head of Portfolio for its Impress and Night Out brands. Arthur, a seasoned marketing strategist with over a decade of experience, brings a wealth of expertise in performance marketing, brand management, and strategic planning to his new role. Arthur’s distinguished career has seen […]

Money

FAAN elevates two female executives to GM positions

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY CHUKWUEMEKE IWELUNMO The Federal Airports Authority of Nigeria (FAAN) has elevated the duo of Mrs. Ijeoma Blessing Nwosu-Igbo and Mrs. Christabel Ebanehita Eromosele to the position of General Manager, Public Affairs and General Manager, Protocol and Passages respectively. An electronic document made available to journalists by the Directorate of Public Affairs &

Money

Digital assets and tokenisation poised to revolutionize real estate investment in Nigeria-Jude Ozinegbe

DailyTimesNGR DailyTimesNGR 12 August 2024 0

BY MOTOLANI OSENI The landscape of real estate investment in Nigeria is on the cusp of a significant transformation, thanks to the burgeoning fields of digital assets and tokenisation. This innovation is set to make real estate investments more inclusive and accessible than ever before, according to Jude Ozinegbe, founder of Cyberchain and a renowned […]

Money

Wema Bank partners Ekiti State govt to empower 100,000 MSMEs

DailyTimesNGR DailyTimesNGR 9 August 2024 0

BY TEMITOPE ADEBAYO Wema Bank, has partnered with the Ekiti State Government through the Ministry of Wealth Creation and Employment to launch the Ekiti-Wema MSME Empowerment Programme for youth and businesses in Ekiti State. Launched on Monday, August 5th, 2024, the Ekiti-Wema MSME Empowerment Programme is an initiative designed to train and empower 100,000 youth […]