Author: Chief Editor

The 2023 elections appeared well planned, with more than adequate budgetary provisions to ensure that the Independent National electoral Commission (INEC) would deliver all promises and be firm at every point, not yielding to pressures and causing doubts. And there is a substantially improved Electoral Act 2022 to make some difference. What remained, largely, was for political parties to stage reputable primaries to produce candidates. That required sincerity and unanimity of purpose among stakeholders. For the outcome to be reputable, parties must be reputable. And it was at that stage spinners of political mischief went to work to create doubts…

FCMB Group Plc has announced its financial results for the first quarter of 2023, demonstrating the continued success of its digital banking initiatives across various business segments. Digital banking initiatives have gained significant traction within FCMB, contributing to its overall performance. In the first quarter, digital revenues accounted for 12 per cent of gross earnings, equivalent to N10 billion. The substantial growth highlights the Group’s commitment to leveraging digital solutions to enhance customer experiences and drive financial inclusion, a statement by the bank said. The impact of digitalisation was evident across FCMB Group’s various business lines. In terms of interest…

In line with its mandate to promote investor participation in Nigeria’s capital market, and enhance the secondary market, Nigerian Exchange Limited (NGX), in collaboration with Afrinvest, is set to host market stakeholders in a virtual workshop on FGN savings bonds. The event, slated for May 25, is aimed at bringing retail investors, trading license holders and regulators in the Nigerian capital market under a common forum to create awareness of the FGN savings bond product and enhance participation and liquidity of FGN bonds in the secondary market. The bond webinar is also expected to deepen the savings culture among retail…

Last weekend, members of the Monetary Policy Department of the Central Bank of Nigeria (CBN) were in Lagos for the 2022 retreat with their eyes on evaluating the monetary framework and weighing the prospects of other models with regard to keeping the key economic prices in check. Incidentally, the assessment came about a year into the ongoing aggressive monetary tightening that has raised the benchmarked interest rate by over 50 per cent – from 11.5 to 18 per cent – to keep inflation at a manageable level. Sadly, within the period, the inflation rate jumped from less than 17 to…

Gov. Babajide Sanwo-Olu of Lagos State on Sunday expressed support for the ambitions of Sen. Godswill Akpabio and Sen. Barau Jibrin as President and Deputy President of the 10th Senate, respectively. Sanwo-Olu expressed his support at a consultative visit to Lagos House, Marina, when he received members of the “Stability Group’’, consisting 69 senators-elect, who already endorsed Akpabio and Jibrin. He said the All Progressives Congress (APC) nomination process to pave the way for election of senate leadership was in order. He noted that Akpabio’s team possessed the political credentials and leadership qualities to bring about uncommon transformation in the…

Barcelona won La Liga for the first time since 2019 by thrashing Espanyol 4-2 on Sunday, wrestling the title back from rivals Real Madrid. The Catalan giants clinched their 27th Spanish championship at the home of their neighbours, with scenes turning ugly at full time as celebrating Barcelona players were chased from the field by pitch invaders. Robert Lewandowski struck twice for Barcelona, along with goals for Alejandro Balde and Jules Kounde, while Javi Puado and Joselu pulled two back late on for the hosts. Barcelona have endured a troubled period on and off the pitch in recent years but…

• Ndume: Senators in our group will get to 86 before inauguration day• Akpabio visits Masari, Sanwo-Olu, promises Senate will work with executive to prosper Nigeria• Tinubu: PDP will not take over NASS leadership positions• Group kicks against APC’s imposition of candidates, says decision autocratic, divisive• APC Northern support groups threaten to sanction Northern Senators opposed to Yari Not bogged down by the voices of opposition to their endorsement for the 10th National Assembly leadership, the anointed candidates of the All Progressives Congress (APC) for Senate President and Deputy Senate President, Godswill Akpabio and Barau Jibrin, yesterday, stepped up their…

Dreams of lower construction costs by many prospective homeowners have once again been dashed, going by fresh increases in the prices of building materials in the market. The prices rose by over 70 per cent between January 2022 and May 2023, according to The Guardian survey. With the development, housing developers and contractors are finding it difficult to deliver affordable housing for over 75 per cent of Nigerians, who lack access to desired accommodation. There has also been a spiral effect in prices of houses, especially newly constructed buildings, as well as delayed delivery of projects. The consumer price index…

• Country needs more loans to fund needs, World Bank insists• Buhari ‘grows’ figure from $7.3b to $41.8b in eight years• Debt per Nigerian jumped from N17,800 under Obasanjo to current N368,421, says Emmanuel• Economy may crash, Adigun warns • Debt necessary to grow economy, Fasua insists Nigeria’s external debt climbed from $2.1 billion after the country exited from the Paris and London clubs of creditors in 2006 to about $41.8 billion it currently stands.  The external debt liability stood at $41.69 billion as at the end of last year. But recently, the Federal Government signed an agreement with the…

The Nigerian National Petroleum Company Limited needs to roll out massive investments in terms of oil and gas to meet the demand for these commodities, Africa’s richest man and Chairman, Dangote Group, Aliko Dangote, has said. He said the national oil firm should invest more because there were many off-takers waiting to off-take the products from the company. Dangote spoke at the ongoing 2023 Annual Value Assurance Review Workshop of the Nigeria Upstream Investment Management Services Limited, according to a statement. He explained that a good investment manager would actively seek for investment opportunities, assess them and take shrewd investment…