Nigeria’s Central Bank’s discontinuation of the price verification will reduce transaction costs – NESG
The Nigerian Economic Summit Group (NESG), one of Nigeria’s foremost think tank has said that the discontinuation of the Central Bank of Nigeria’s (CBN) price verification system will help to streamline the importation process and reduce transaction costs for importers. It said this in its latest brief that it “supports the recent decision by the […]
Nigeria must grow its foreign reserves. – Ogho Okiti
Hello and welcome to my commentary this week. For some time now, the government and many Nigerians have been trying to forget the eight disastrous years of President Muhammadu Buhari. But that did not last very long. Last week, the International Monetary Fund (IMF) reminded us again after it projected that the Nigerian economy will […]
Cardoso’s strategy paying off as exchange rate markets converge
For as long as anyone can remember, the Nigerian foreign exchange market has always been known for its multiples and the disparity between the official and the parallel exchange rates. However, following critical measures undertaken by Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN) since September 2023, the two broad markets are […]
Food Crisis: Why its happening and what can be done about it. – Ogho Okiti
Last week, the National Bureau of Statistics released inflation figures for April 2024. Headline inflation was 33.6%, up from 33.2% in March 2024. Food inflation was 40.53%, compared to 24.61% in April 2023. The inflation report coincided with the release of an excellent brief by Nextier, an Abuja based think tank on the 15th of […]
The problem with Nigeria’s minimum wage is the process. – Ogho Okiti
As we near the end of another minimum wage process, what is clear, as always, is that the gap between the demands of the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) on the one hand, and the government and the organized private sector on the other side remains huge. What do we […]
Agama to shrink “time to market” for firms after Senate confirmation – Ogho Okiti
After his Senate confirmation yesterday, the Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has set his eyes on shrinking the time it takes for companies to access the market for different forms of capital. The priority to shrink the time to market follows the frustration of many market stakeholders during […]
Highlights from Our 62nd Annual General Meeting in Abuja: A Memorable Event for Our Bank
Good Evening and Happy Sunday! Last Friday in Abuja, we celebrated our 62nd Annual General Meeting. Read more about the event and view exclusive photos in today’s newspaper feature. A Promise Fulfilled: UBA Shareholders Commend 2023 Superlative Performance, Dividend Payout ….Shareholders Give Approval to recapitalize as Directed by the Regulators….UBA Pays Total Dividend of N95.8bn, […]
Transcorp Group Demonstrates Robust Growth in FY 2023; Revenue Increases By 47.3%, PBT by 93.5%. (Lagos, March 31, 2024)
Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading listed conglomerate, announces its financial results for the year ended December 31, 2023. The Group achieved substantial growth in its financial indicators, reinforcing its market leadership and strategic positioning. In its audited results, Transcorp reported significant year-on-year growth, with revenue rising to N197 billion in the […]
Transcorp Hotels Plc Delivers Strong Performance in 2023 (…With 36% Year-on-Year Revenue Growth).
Transcorp Hotels Plc (“Transcorp Hotels” or the “Company”), the listed hospitality subsidiary of Transnational Corporation Plc (“Transcorp Group”) has released its audited 2023 full-year results, showing outstanding performance and setting new revenue and profit records. In its full year audited results filed with the Nigerian Exchange (NGX), Transcorp Hotels reported a record-breaking revenue of N41.5 […]