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The governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that the members of the Monetary Policy Committee would do whatever is necessary to get a handle on the country’s persistent inflation. The CBN’s hawkish stance on inflation had become obvious from the first MPC meeting held in February, when the committee raised […]
Additional reports: Dare Olawin, Bankole Taiwo, Peter Dada, and Adeyinka Adedipe The National Assembly and the 36 state assemblies of the federation as well as their agencies will spend about N724bn this year, an analysis of their 2024 budgets by The PUNCH has shown. Further findings also showed that the salaries and allowances for […]
Directors and key management personnel of Deposit Money Banks borrowed about N549bn from their financial institutions in five years. This is according to The PUNCH analysis of the banks’ annual reports filed with the Nigerian Exchange Limited between 2019 and 2023. However, the banks’ loans and advances to some directors and key management personnel as […]
PwC has reaffirmed its commitment to helping Nigerian businesses move towards a sustainable future. The company announced this in a statement celebrating the 10th anniversary of its in-house consulting arm, Strategy&. It mentioned that its goal was to stimulate positive change within the worldwide business community. The 10-year milestone highlights the firm's collaborative endeavors to offer creative solutions […]
The International Monetary Fund has called on Nigerian and other sub-Saharan African countries to increase investment in their young citizens’ education to boost economic growth. In a piece on its website on Thursday, the IMF said demographic transition may be the biggest single opportunity for the economies of sub-Saharan Africa, but countries would only be […]
The World Trade Organisation has stated that global trade has continued to grow, reaching over US$ 30.4 trillion in 2023, which is a fivefold increase since 1995. The WTO issued this information in a report to mark its 30th anniversary, noting that between 1995 and 2023, total […]
After several days of continuous negative trading, the Nigerian stock market saw a 0.05 per cent rise in the All-Share Index and investors gained N26bn. The local stock market has been experiencing a downward trend for several days, leading to major indexes falling below earlier milestones, because of selling off and declining interest. The […]
Manufacturers of porcelain tiles, CDK Integrated Industries, has advocated increased use of local content in the construction industry. According to a statement, the call was made during a recent courtesy visit to the new national president of the Nigerian Institute of Architects. The meeting, which was held at the office of the NIA President, Mobolaji […]
The Nigerian National Petroleum Company Limited has signed an agreement with the African Refinery Port Harcourt Limited for the purchase of 15 per cent ownership by ARPHL in the Port Harcourt Refining Company. Parties in the deal said the agreement would lead to an increase in the refining capacity of the Port Harcourt refinery from […]
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