The Debt Management Office (DMO) has clarified the factors contributing to the recent increase in Nigeria’s debt stock, attributing the rise primarily to approved new borrowings and changes in the naira exchange rate. In a statement obtained yesterday, the DMO noted that the debt growth resulted from authorized new external and domestic borrowing, alongside the […]
The World Bank plans to supervise Nigeria’s $500 million electricity loan from July 8 to 12, 2024, aimed at enhancing the country’s electricity distribution sector. The Nigeria Distribution Sector Recovery Program was approved by the World Bank Board on February 4, 2021, and became effective on February 2, 2023. According to the latest Implementation Status […]
Segun Aremu, a financial expert, stated that the increase in Nigeria’s Foreign Exchange Reserve and its growing debt are not necessarily linked but may intersect in the long run. Segun made these comments in an exclusive interview with our correspondent in response to reports that Nigeria’s foreign exchange reserves had reached $33.58 billion – the […]
Mrs. Mary Adeyanju, the Managing Director of Consolidated Hallmark Insurance Limited, expressed her strong support for the introduction of a Computer-Based Test (CBT) format for the Chartered Institute of Insurance Nigeria Examination. Adeyanju explained that the CBT approach would bring greater efficiency, standardization, and accessibility to the examination process. She noted that transitioning to a […]
By Davies Iheamnachor The cases challenging the defection of the 25 State lawmakers in Rivers State from the People’s Democratic Party, PDP to the All Progressives Congress, APC, have been transferred. The case was transferred from Federal High Court 4, Port Harcourt, presided over by Justice Steven Dalyop Pam, to court two controlled by Justice […]
The Deputy Governor of Financial Systems Stability at CBN, Philip Ikeazor, said this during a two-day Financial Institutions Training Centre (FITC) Fintech Conference held in Lagos. The theme of the event was: “Building Trust in the Digital Age: Balancing Performance with Compliance.” According to him, issues such as cybersecurity threats, data breaches, and digital fraud are persistent concerns […]
The Joint Admissions and Matriculation Board (JAMB) has released the results of candidates who participated in the supplementary Unified Tertiary Matriculation Examination (UTME) conducted between June 21 and June 22. This information is contained in a statement issued in Abuja on Friday by the board’s spokesperson, Fabian Benjamin. JAMB stated that the supplementary examination was […]
The Nigeria Sovereign Investment Authority (NSIA) recently announced the shortlisting of 26 Nigerian startups to participate in the accelerator stage (physical bootcamp) of its Prize for Innovation program. According to a statement from the NSIA, 100 startups were first selected out of over 7,000 early-stage businesses that registered for the competition. Another round of selection brought […]
Segun Aremu, a financial expert, stated that the increase in Nigeria’s Foreign Exchange Reserve and its growing debt are not necessarily linked but may intersect in the long run. Segun made these comments in an exclusive interview with our correspondent in response to reports that Nigeria’s foreign exchange reserves had reached $33.58 billion – the […]
The Debt Management Office (DMO) has clarified the factors contributing to the recent increase in Nigeria’s debt stock, attributing the rise primarily to approved new borrowings and changes in the naira exchange rate. In a statement obtained yesterday, the DMO noted that the debt growth resulted from authorized new external and domestic borrowing, alongside the […]