Banking giant HSBC says its profits got a $1.5billion boost from the purchase of collapsed Silicon Valley Bank’s British business.

Banking giant HSBC says its profits got a $1.5billion boost from the purchase of collapsed Silicon Valley Bank’s British business.

Banking giant HSBC says its profits got a $1.5billion boost from the purchase of collapsed Silicon Valley Bank's British business. Europe's biggest bank posted a pre-tax profit of $12.9billion for the three months to the end of March. That is more than three times the amount it made for the same time last year. In March, HSBC bought SVB UK for a nominal £1 in a deal led by the […]

May 2, 2023 139

BUSINESS

Former lawmaker, Shehu Sani says the country’s numerous problems are man-made.

Former lawmaker, Shehu Sani says the country’s numerous problems are man-made. Sani laments that despite the huge amount of money from the Paris refund shared by state governors, 133 million people now live below the poverty line. The social critic stated in a post via his verified Twitter handle on Monday. He noted that about 4.3 million people in the North East face severe hunger and malnutrition, a figure, according […]

May 2, 2023 33

BUSINESS

The Central Bank of Nigeria has finally concluded plans to release all notes in its custody to Deposit Money Banks.

The Central Bank of Nigeria has finally concluded plans to release all notes in its custody to Deposit Money Banks. The CBN’s latest decision came several weeks after the Supreme Court ordered that old N1,000, N500 and N200 notes should remain legal tender until December 31, 2023. This decision is expected to end months of hardships and pains Nigerians have been going through following a controversial CBN naira redesign policy […]

March 24, 2023 57

BUSINESS

FCT residents have backed the Nigeria Labour Congress, NLC’s plan for an indefinite strike and picketing of all facilities of the Central Bank of Nigeria over naira scarcity.

FCT residents have backed the Nigeria Labour Congress, NLC's plan for an indefinite strike and picketing of all facilities of the Central Bank of Nigeria over naira scarcity. This is as they threatened to picket commercial banks in the nation's capital over poor service. Recall that The NLC said it had begun to mobilise all its statechapters and affiliate unions in preparation for an indefinite strike and picketing of all […]

March 24, 2023 201

BUSINESS

The United Nations Food and Agriculture Organisation says Low crop yields, post-harvest losses, food safety concerns,

The United Nations Food and Agriculture Organisation says Low crop yields, post-harvest losses, food safety concerns, and weak implementation of relevant policies, among others, are the reasons for agricultural product stagnation in Nigeria, It said this was part of findings contained in the latest Nigeria Food System Assessment Profile that was conducted in 2022, which was a joint initiative launched by the European Union, FAO, French Research Centre for Agricultural […]

March 10, 2023 137

BUSINESS

The Nigerian National Petroleum Company Limited says a total of 339 million litres of petrol was distributed to 63 depots across the country in seven days.

The Nigerian National Petroleum Company Limited says a total of 339 million litres of petrol was distributed to 63 depots across the country in seven days. Data obtained from the NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority by Journalists on Monday revealed that the products were sent out between February 25 and March 3rd. According to the Weekly National PMS Evacuation & Dispatch report, 339 million litres […]

March 10, 2023 116

BUSINESS

Central Bank of Nigeria does not understand the naira crisis challenges

Nigeria Employers’ Consultative Association has revealed that the Central Bank of Nigeria does not understand the naira crisis challenges, pointing out that the apex bank appears not to have a solution to the economic problems caused by the naira redesign policy. In a statement on Sunday, Director-General of NECA, Wale Oyerinde, stated that the situation had allowed speculators and economic saboteurs to have a field day at the expense of […]

February 13, 2023 43

BUSINESS

The Nigerian Export Promotion Council says it is committed to generate more than $4.82 billion from non-oil export business in 2023.

The Nigerian Export Promotion Council says it is committed to generate more than $4.82 billion from non-oil export business in 2023. The Council Coordinator in Ekiti State, Iyabode Abe further disclosed that the Council under the leadership of the Chief Executive Officer, Yakussak Ezra, Will continue to promote the development of non-oil export in order to safeguard the nation’s economy. Abe spoke in Ado Ekiti at a-one day technical and […]

February 13, 2023 43

BUSINESS

The Food and Agriculture Organisation has warned that about 25 million Nigerians risk severe hunger between June and August this year.

The Food and Agriculture Organisation has warned that about 25 million Nigerians risk severe hunger between June and August this year. A report by the United Nations agency, in October 22 confirmed an existing 17 million famished Nigerians, and cautioned that the figure would hit the 25 million mark in the predicted period if urgent efforts are not taken to stem the surge. The organisation identified drivers of the unsavoury […]

January 18, 2023 25

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