Finance – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Sat, 28 Feb 2026 10:59:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png Finance – InfoStride News https://www.theinfostride.com 32 32 AfDB Group Mobilises Private Capital to Bridge Africa’s Financing Gap https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/ https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/#respond Sat, 28 Feb 2026 11:00:25 +0000 https://www.theinfostride.com/?p=474341 The African Development Bank Group has intensified efforts to mobilise private capital as part of a broader strategy to close Africa’s widening financing gap and accelerate sustainable economic development across the continent. The multilateral lender said leveraging private sector resources has become increasingly critical as public finances across many African countries come under pressure from [...]

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]]> https://www.theinfostride.com/afdb-group-mobilises-private-capital-to-bridge-africas-financing-gap/feed/ 0 Smart ways to shield your savings from inflation https://www.theinfostride.com/smart-ways-to-shield-your-savings-from-inflation/ https://www.theinfostride.com/smart-ways-to-shield-your-savings-from-inflation/#respond Mon, 12 Jan 2026 14:59:28 +0000 https://www.theinfostride.com/?p=438241 Inflation can slowly erode the value of your hard-earned savings, making it important to find ways to protect your money and maintain its purchasing power. Here are some smart strategies to help shield your savings from the effects of inflation: Invest in Stocks Stocks generally offer returns that outpace inflation over the long term. By [...]

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]]> https://www.theinfostride.com/smart-ways-to-shield-your-savings-from-inflation/feed/ 0 Airtel Africa Initiates Search for New External Auditor to Strengthen Financial Oversight https://www.theinfostride.com/airtel-africa-initiates-search-for-new-external-auditor-to-strengthen-financial-oversight/ https://www.theinfostride.com/airtel-africa-initiates-search-for-new-external-auditor-to-strengthen-financial-oversight/#respond Fri, 05 Dec 2025 13:17:39 +0000 https://www.theinfostride.com/?p=472912 Airtel Africa, one of the continent’s leading telecommunications operators, has announced the commencement of a formal process to appoint a new external auditor. The decision, aimed at enhancing transparency, corporate governance, and investor confidence, marks a significant step in the company’s ongoing efforts to maintain high standards of financial reporting and compliance with international accounting [...]

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]]> https://www.theinfostride.com/airtel-africa-initiates-search-for-new-external-auditor-to-strengthen-financial-oversight/feed/ 0 FirstBank to Close Financial Inclusion Gaps Through Innovative Digital Solutions https://www.theinfostride.com/firstbank-to-close-financial-inclusion-gaps-through-innovative-digital-solutions/ https://www.theinfostride.com/firstbank-to-close-financial-inclusion-gaps-through-innovative-digital-solutions/#respond Thu, 09 Oct 2025 10:20:53 +0000 https://www.theinfostride.com/?p=468635 First Bank of Nigeria Limited has reiterated its commitment to driving financial inclusion and bridging the economic divide through advanced digital banking solutions tailored to meet the needs of individuals, small businesses, and underserved communities. The bank’s renewed focus underscores its determination to ensure that every Nigerian, regardless of location or income level, has access [...]

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]]> https://www.theinfostride.com/firstbank-to-close-financial-inclusion-gaps-through-innovative-digital-solutions/feed/ 0 Digital Bank PalmPay Earns Major Recognition for Advancing Financial Inclusion https://www.theinfostride.com/digital-bank-palmpay-earns-major-recognition-for-advancing-financial-inclusion/ https://www.theinfostride.com/digital-bank-palmpay-earns-major-recognition-for-advancing-financial-inclusion/#respond Wed, 23 Jul 2025 15:24:36 +0000 https://www.theinfostride.com/?p=462783 PalmPay, Nigeria’s emerging digital banking platform, has garnered considerable acclaim in recent months by securing several high-profile awards, recognizing its disruptive impact on financial inclusion and customer service in the country’s fintech landscape. Since its 2019 launch, the company has steadily expanded both its user base and product suite, cementing its reputation as a leading [...]

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]]> https://www.theinfostride.com/digital-bank-palmpay-earns-major-recognition-for-advancing-financial-inclusion/feed/ 0 Wages Finance Launches New Mobile App to Simplify Financial Management https://www.theinfostride.com/wages-finance-launches-new-mobile-app-to-simplify-financial-management/ https://www.theinfostride.com/wages-finance-launches-new-mobile-app-to-simplify-financial-management/#respond Tue, 29 Oct 2024 08:26:14 +0000 https://www.theinfostride.com/?p=392361 Wages Finance, a rising financial technology company, has officially launched its new mobile app, promising to streamline money management and increase accessibility to financial services for individuals and businesses. The app, which is available for both iOS and Android, offers users a convenient, secure, and feature-rich platform for managing personal and corporate finances, with a [...]

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]]> https://www.theinfostride.com/wages-finance-launches-new-mobile-app-to-simplify-financial-management/feed/ 0 US Boosts Nigeria’s Fight Against Corruption with $12 Million Grant https://www.theinfostride.com/us-boosts-nigerias-fight-against-corruption-with-12-million-grant/ https://www.theinfostride.com/us-boosts-nigerias-fight-against-corruption-with-12-million-grant/#respond Tue, 28 May 2024 17:25:26 +0000 https://www.theinfostride.com/?p=379245 Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, announced at a Ministerial Sectoral briefing in Abuja that the Federal Government has secured a significant commitment of $12 million from the United States. This funding is intended to enhance transparency in public finance management and support civil society efforts to promote government transparency. Tuggar also disclosed that [...]

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]]> https://www.theinfostride.com/us-boosts-nigerias-fight-against-corruption-with-12-million-grant/feed/ 0 BUA Foods’ robust 2022 financial results signal growth opportunities for investors https://www.theinfostride.com/bua-foods-robust-2022-financial-results-signal-growth-opportunities-for-investors/ https://www.theinfostride.com/bua-foods-robust-2022-financial-results-signal-growth-opportunities-for-investors/#respond Tue, 17 Oct 2023 21:37:31 +0000 https://www.theinfostride.com/?p=357375 In a recent financial report for the year ending December 31, 2022, BUA Foods, a prominent integrated consumer goods company in Nigeria, announced impressive results, reflecting its robust performance and growth prospects. Despite facing significant macroeconomic challenges, such as inflation and currency devaluation, BUA Foods managed to achieve remarkable milestones, making it a noteworthy player [...]

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]]> https://www.theinfostride.com/bua-foods-robust-2022-financial-results-signal-growth-opportunities-for-investors/feed/ 0 CPPE says CBN financing of the fiscal deficit caused Nigeria’s high inflation https://www.theinfostride.com/cppe-says-cbn-financing-of-the-fiscal-deficit-caused-nigerias-high-inflation/ https://www.theinfostride.com/cppe-says-cbn-financing-of-the-fiscal-deficit-caused-nigerias-high-inflation/#respond Tue, 18 Oct 2022 22:12:22 +0000 https://www.theinfostride.com/?p=334413 The Nigerian Centre for the Promotion of Private Enterprise (CPPE) has claimed that the Central Bank of Nigeria’s financing of the country’s fiscal deficit is responsible for rising inflation. CPPE disclosed this in a statement made available to Nairametrics by its CEO, Dr Muda Yusuf. According to the statement, Nigeria is suffering from an “Inflation Tax” as [...]

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]]> https://www.theinfostride.com/cppe-says-cbn-financing-of-the-fiscal-deficit-caused-nigerias-high-inflation/feed/ 0 GDP: Finance and Insurance sector grows by 29.90% in Q2 2022 https://www.theinfostride.com/gdp-finance-and-insurance-sector-grows-by-29-90-in-q2-2022/ https://www.theinfostride.com/gdp-finance-and-insurance-sector-grows-by-29-90-in-q2-2022/#respond Wed, 07 Sep 2022 19:49:01 +0000 https://www.theinfostride.com/?p=332030 The Finance and Insurance sector grew at 29.90% as a whole in nominal terms year-on-year in the second quarter of 2022. This is according to the recent GDP report released by the National Bureau of Statistics. In particular, the growth rate of Financial Institutions was recorded at 31.63% and 17.28% growth rate was recorded for Insurance. The Finance and Insurance Sector consists [...]

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]]> https://www.theinfostride.com/gdp-finance-and-insurance-sector-grows-by-29-90-in-q2-2022/feed/ 0 Tax exemptions, incentives fail to encourage remittances, growth, says FG https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/ https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/#respond Wed, 18 May 2022 22:02:09 +0000 https://www.theinfostride.com/?p=325065 The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said despite the Federal Government’s efforts to leverage the benefits of tax exemptions and concessions, the incentive has rather led to huge revenue loss to the government. According to her, though the government is committed to reducing tax expenditure, the nation’s current revenue to [...]

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]]> https://www.theinfostride.com/tax-exemptions-incentives-fail-to-encourage-remittances-growth-says-fg/feed/ 0 How to stop illicit financial flow in Nigeria https://www.theinfostride.com/how-to-stop-illicit-financial-flow-in-nigeria/ https://www.theinfostride.com/how-to-stop-illicit-financial-flow-in-nigeria/#respond Sat, 19 Mar 2022 20:19:24 +0000 https://www.theinfostride.com/?p=320925 A recent news by the UNCTAD has estimated that Africa loses $88.6 billion annually due to Illicit Financial Flow (IFF) with Nigeria contributing 30%. This, according to Mboho Eno, Deputy Director, Accountability, Centre for Journalism Innovations and Development (CJID), is a major concern and needs to be addressed by all stakeholders, especially the media. To curb [...]

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]]> https://www.theinfostride.com/how-to-stop-illicit-financial-flow-in-nigeria/feed/ 0 AfDB signed $544 million in loan financing for Nigeria in 2021 https://www.theinfostride.com/afdb-signed-544-million-in-loan-financing-for-nigeria-in-2021/ https://www.theinfostride.com/afdb-signed-544-million-in-loan-financing-for-nigeria-in-2021/#respond Tue, 08 Mar 2022 22:36:21 +0000 https://www.theinfostride.com/?p=320023 Lamin Barrow, the Director-General, Nigeria Country Department of the African Development Bank (AfDB) has established that the bank signed $544 million in loan financing for five operations in Nigeria in 2021. Mr Barrow made this known on Thursday in Abuja at the opening of the 2022 Country Portfolio Performance Review (CPPR) workshop. He said the [...]

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]]> https://www.theinfostride.com/afdb-signed-544-million-in-loan-financing-for-nigeria-in-2021/feed/ 0 There might be possible introduction of additional taxes in 2022 – Finance minister https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/ https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/#respond Mon, 13 Dec 2021 21:36:38 +0000 https://www.theinfostride.com/?p=314583 The Minister of Finance, Budget and National Planning, Zainab Ahmed, has hinted that the federal government might introduce new tariffs and levies in 2022 as the economy moves on the path of recovery. This was disclosed by Ahmed while addressing stakeholders at a public hearing on the 2021 Finance Bill organised by the House of [...]

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]]> https://www.theinfostride.com/there-might-be-possible-introduction-of-additional-taxes-in-2022-finance-minister/feed/ 0 African Development Bank confirms $60m financing for homes loan assistance programme https://www.theinfostride.com/african-development-bank-confirms-60m-financing-for-homes-loan-assistance-programme/ https://www.theinfostride.com/african-development-bank-confirms-60m-financing-for-homes-loan-assistance-programme/#respond Fri, 19 Nov 2021 19:57:08 +0000 https://www.theinfostride.com/?p=313093 The growth, which was largely driven by the non-oil sector, having contributed 92.51% to the aggregate GDP for the period, leaving the remaining 7.49% to the oil sector. According to the report, the growth recorded in the non-oil sector was driven by growth in the trade sector, ICT, financial, manufacturing, agriculture, and transportation. The African [...]

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]]> https://www.theinfostride.com/african-development-bank-confirms-60m-financing-for-homes-loan-assistance-programme/feed/ 0 Nigeria’s financial sector enlarges by 23% in Q3 2021 https://www.theinfostride.com/nigerias-financial-sector-enlarges-by-23-in-q3-2021/ https://www.theinfostride.com/nigerias-financial-sector-enlarges-by-23-in-q3-2021/#respond Thu, 18 Nov 2021 20:57:28 +0000 https://www.theinfostride.com/?p=313044 The Nigerian financial sector, which encompasses of finance and insurance sectors recorded a growth rate of 23.23% in the third quarter of 2021. This is according to GDP report released by the National Bureau of Statistics (NBS) on Thursday. The Financial sector, which is classified as financial institutions and insurance, comprises of finance and insurance [...]

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]]> https://www.theinfostride.com/nigerias-financial-sector-enlarges-by-23-in-q3-2021/feed/ 0 Microsoft budgets $20b security investments, offers support to financial service sector https://www.theinfostride.com/microsoft-budgets-20b-security-investments-offers-support-to-financial-service-sector/ https://www.theinfostride.com/microsoft-budgets-20b-security-investments-offers-support-to-financial-service-sector/#respond Thu, 18 Nov 2021 20:40:24 +0000 https://www.theinfostride.com/?p=313033 Microsoft is to disburse $20 billion on security architecture in the next five years across its markets. Also, the leading technology company is committed to supporting the digital transformation of Nigeria’s financial services providers with its tailored Cloud solutions in the country. Speaking during a roundtable webinar on Wednesday, Marketing and Operations Director for Microsoft [...]

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]]> https://www.theinfostride.com/microsoft-budgets-20b-security-investments-offers-support-to-financial-service-sector/feed/ 0 GAC showcases at Abuja fair with new model, vehicle finance scheme https://www.theinfostride.com/gac-showcases-at-abuja-fair-with-new-model-vehicle-finance-scheme/ https://www.theinfostride.com/gac-showcases-at-abuja-fair-with-new-model-vehicle-finance-scheme/#respond Tue, 16 Nov 2021 18:35:20 +0000 https://www.theinfostride.com/?p=312864 GAC Motor will make a debut at this year’s Abuja International Motor Fair with three notable vehicles, including a new market entry model as well as a finance scheme for interested participants. The fair, which started today at the International Conference Centre annex Garki, Abuja, is aimed at thrilling car lovers and automobile industry players [...]

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]]> https://www.theinfostride.com/gac-showcases-at-abuja-fair-with-new-model-vehicle-finance-scheme/feed/ 0 RIMAN tasks leverage on emerging financial systems’ risks https://www.theinfostride.com/riman-tasks-leverage-on-emerging-financial-systems-risks/ https://www.theinfostride.com/riman-tasks-leverage-on-emerging-financial-systems-risks/#respond Mon, 15 Nov 2021 21:20:55 +0000 https://www.theinfostride.com/?p=312802 As new technology and processes moves forward, the Risk Management Association of Nigeria (RIMAN) has charged financial service providers, especially banks, to embrace best risk management practices in their operations. According to the association, the appeal was premised on the emerging risks confronting the nation’s financial system, especially as new technologies evolve. RIMAN also commended [...]

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]]> https://www.theinfostride.com/riman-tasks-leverage-on-emerging-financial-systems-risks/feed/ 0 DMO to procure N250 billion Sukuk bond https://www.theinfostride.com/dmo-to-procure-n250-billion-sukuk-bond/ https://www.theinfostride.com/dmo-to-procure-n250-billion-sukuk-bond/#respond Wed, 03 Nov 2021 20:05:20 +0000 https://www.theinfostride.com/?p=311918 The Debt Management Office (DMO) established the issue about N250 billion Sukuk to finance road projects. The DMO issued this in a statement released on Tuesday. The Sukuk is a strategic initiative that supports the development of infrastructure, promotes financial inclusion and deepens the domestic securities market.   Since the establishment of the initiative in [...]

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]]> https://www.theinfostride.com/dmo-to-procure-n250-billion-sukuk-bond/feed/ 0 CBN set to implement financial instrument to fund 100 private companies every 100 days https://www.theinfostride.com/cbn-set-to-implement-financial-instrument-to-fund-100-private-companies-every-100-days/ https://www.theinfostride.com/cbn-set-to-implement-financial-instrument-to-fund-100-private-companies-every-100-days/#respond Mon, 25 Oct 2021 20:00:16 +0000 https://www.theinfostride.com/?p=311197 The Central Bank of Nigeria (CBN) on Monday disclosed the introduction of a new financial instrument known as ‘The 100 for 100 PPP’ Policy on Production and Productivity to improve local production and productivity in various sectors of the economy. This was made known by the CBN Governor, Mr Godwin Emefiele, at the launch of [...]

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]]> https://www.theinfostride.com/cbn-set-to-implement-financial-instrument-to-fund-100-private-companies-every-100-days/feed/ 0 Naira goes lower as it trades N422 to the dollar in the official market https://www.theinfostride.com/naira-goes-lower-as-it-trades-n422-to-the-dollar-in-the-official-market/ https://www.theinfostride.com/naira-goes-lower-as-it-trades-n422-to-the-dollar-in-the-official-market/#respond Sun, 17 Oct 2021 21:44:55 +0000 https://www.theinfostride.com/?p=310665 The Nigerian naira has hit another low by 2.6% to N422 per dollar, hitting an all-time low at the Nigerian autonomous foreign exchange (NAFEX) rate — the default FX reference for official and legitimate transactions. The sharp decline came days after Vice-President Yemi Osinbajo called the CBN to allow the naira to reflect the realities [...]

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]]> https://www.theinfostride.com/naira-goes-lower-as-it-trades-n422-to-the-dollar-in-the-official-market/feed/ 0 CBN gives directive to banks to apply I&E rates to PAPSS Transactions https://www.theinfostride.com/cbn-gives-directive-to-banks-to-apply-ie-rates-to-papss-transactions/ https://www.theinfostride.com/cbn-gives-directive-to-banks-to-apply-ie-rates-to-papss-transactions/#respond Wed, 13 Oct 2021 22:11:08 +0000 https://www.theinfostride.com/?p=310316 The Central Bank of Nigeria, CBN, has Instructed banks to apply exchange rates in the Investors and Exporters (I&E) window for outbound payments through the Pan African Payments and Settlement System (PAPSS). The CBN made this known in a circular introducing the Guidelines on Operations of PAPSS in Nigeria, signed by the Director, Trade and [...]

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]]> https://www.theinfostride.com/cbn-gives-directive-to-banks-to-apply-ie-rates-to-papss-transactions/feed/ 0 Borrowing helped Nigeria to exit from recession – Finance minister https://www.theinfostride.com/borrowing-helped-nigeria-to-exit-from-recession-finance-minister/ https://www.theinfostride.com/borrowing-helped-nigeria-to-exit-from-recession-finance-minister/#respond Fri, 08 Oct 2021 21:38:00 +0000 https://www.theinfostride.com/?p=309889 The Minister of Finance, Budget and National Planning, Zainab Ahmed, in her defence of Nigeria’s mounting debt has insisted that the Federal Government’s borrowings helped the country alot in the country’s quick recovery from recession. This is as the government explained that it had to spend its way out of recession mostly in the form [...]

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]]> https://www.theinfostride.com/borrowing-helped-nigeria-to-exit-from-recession-finance-minister/feed/ 0 We will borrow again to finance N6.258 trillion 2022 budget deficit – Minister of finance https://www.theinfostride.com/we-will-borrow-again-to-finance-n6-258-trillion-2022-budget-deficit-minister-of-finance/ https://www.theinfostride.com/we-will-borrow-again-to-finance-n6-258-trillion-2022-budget-deficit-minister-of-finance/#respond Thu, 07 Oct 2021 12:11:53 +0000 https://www.theinfostride.com/?p=309740 The Federal Government has declared its readiness to borrow from both local and foreign sources to finance the N6.258 trillion deficit in the proposed 2022 budget. This is just as the Federal Executive Council (FEC) has approved the 2022 Appropriation Bill with an aggregate expenditure of N16.39 trillion. This was disclosed by the Minister of [...]

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]]> https://www.theinfostride.com/we-will-borrow-again-to-finance-n6-258-trillion-2022-budget-deficit-minister-of-finance/feed/ 0 There should be 42% revenue allocation to Lagos State says Governor Sanwo-Olu https://www.theinfostride.com/there-should-be-42-revenue-allocation-to-lagos-state-says-governor-sanwo-olu/ https://www.theinfostride.com/there-should-be-42-revenue-allocation-to-lagos-state-says-governor-sanwo-olu/#respond Tue, 05 Oct 2021 14:51:50 +0000 https://www.theinfostride.com/?p=309619 The Lagos State Governor, Babajide Sanwo-Olu has issued for a 42% revenue share to states from the Federation Account. This was made known by the Governor on Monday at the two-day South-West Zonal public hearing on the Review of Allocation formula by the Revenue Mobilization Allocation and Fiscal Commission (RMAFC).   The Governor also established [...]

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]]> https://www.theinfostride.com/there-should-be-42-revenue-allocation-to-lagos-state-says-governor-sanwo-olu/feed/ 0 Shell unveils first female managing director for deep-water Nigeria https://www.theinfostride.com/shell-unveils-first-female-managing-director-for-deep-water-nigeria/ https://www.theinfostride.com/shell-unveils-first-female-managing-director-for-deep-water-nigeria/#respond Sun, 01 Aug 2021 21:09:45 +0000 https://www.theinfostride.com/?p=302678 World energy giant, Shell, has named Elohor Aiboni as the Managing Director of its Nigeria deep-water business, Shell Nigeria Exploration and Production Company Limited (SNEPCo), with effect from 1st August 2021. Elohor is the first female to lead a Shell exploration company in the over 60 years of Shell’s operations in Nigeria. She succeeds Bayo [...]

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]]> https://www.theinfostride.com/shell-unveils-first-female-managing-director-for-deep-water-nigeria/feed/ 0 Dangote Cement posts N191.6 billion profit in six months https://www.theinfostride.com/dangote-cement-posts-n191-6-billion-profit-in-six-months/ https://www.theinfostride.com/dangote-cement-posts-n191-6-billion-profit-in-six-months/#respond Sun, 01 Aug 2021 20:58:23 +0000 https://www.theinfostride.com/?p=302671 The Dangote Cement, has posted a Profit After Tax (PAT) of N191.6 billion, after a tax charge of N89.6 billion in its unaudited results for the half year ending on June 30. The Group Managing Director, Dangote Cement, Mr Michel Puchercos, said this in a statement on Sunday in Lagos. Puchercos said that the company’s [...]

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]]> https://www.theinfostride.com/dangote-cement-posts-n191-6-billion-profit-in-six-months/feed/ 0 Egypt bids adieu to Suez Canal saga with payoff and a party https://www.theinfostride.com/egypt-bids-adieu-to-suez-canal-saga-with-payoff-and-a-party/ https://www.theinfostride.com/egypt-bids-adieu-to-suez-canal-saga-with-payoff-and-a-party/#respond Thu, 08 Jul 2021 09:07:43 +0000 https://www.theinfostride.com/?p=299955 The 400-metre-long container ship will be seen off on Wednesday in a ceremony attended by dignitaries, diplomats and company officials from around the world. In fact, the last time the Suez Canal Authority, which is hosting the event, promised this much fanfare was in 2015, when an $8 billion expansion project was completed within a [...]

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]]> https://www.theinfostride.com/egypt-bids-adieu-to-suez-canal-saga-with-payoff-and-a-party/feed/ 0 VP Osinbajo: Nigeria’s economy did not deteriorate as feared https://www.theinfostride.com/vp-osinbajo-nigerias-economy-did-not-deteriorate-as-feared/ https://www.theinfostride.com/vp-osinbajo-nigerias-economy-did-not-deteriorate-as-feared/#respond Thu, 08 Jul 2021 06:35:42 +0000 https://www.theinfostride.com/?p=299948 According to Vice President Yemi Osinbajo, thanks to the federal government’s COVID-19 stimulus package, the Nigerian economy did not degenerate as feared and at least over 2 million jobs have both been created and saved with the implementation of the Economic Sustainability Plan (ESP). The Osinbajo-led Economic Sustainability Committee (ESC) also reiterates that although the [...]

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]]> https://www.theinfostride.com/vp-osinbajo-nigerias-economy-did-not-deteriorate-as-feared/feed/ 0 China regulator orders Didi ride-hailing app removed from stores https://www.theinfostride.com/china-regulator-orders-didi-ride-hailing-app-removed-from-stores/ https://www.theinfostride.com/china-regulator-orders-didi-ride-hailing-app-removed-from-stores/#respond Tue, 06 Jul 2021 23:39:55 +0000 https://www.theinfostride.com/?p=299821 The Cyberspace Administration of China (CAC) has ordered app stores to remove Didi Chuxing’s app, claiming the ride-hailing company had been illegally collecting users’ personal data (via Reuters).The regulator said it had ordered the company to make updates to put it in compliance with China’s data protection rules, but didn’t elaborate on what the violations [...]

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]]> https://www.theinfostride.com/china-regulator-orders-didi-ride-hailing-app-removed-from-stores/feed/ 0 Facebook hits $1 trillion valuation for first time https://www.theinfostride.com/facebook-hits-1-trillion-valuation-for-first-time/ https://www.theinfostride.com/facebook-hits-1-trillion-valuation-for-first-time/#respond Mon, 05 Jul 2021 16:24:39 +0000 https://www.theinfostride.com/?p=299580 Social media giant, Facebook, has hit a $1 trillion valuation, following a dismissal of two antitrust lawsuits against the company. Facebook’s stock closed higher on Monday at $355.64 per share which contributed to the trillion-dollar valuation, Business Insider reported. The rise came after a United States court dismissed complaints by the Federal Trade Commission and [...]

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]]> https://www.theinfostride.com/facebook-hits-1-trillion-valuation-for-first-time/feed/ 0 Kingsley Moghalu: Economic diversification, panacea for excessive external borrowing https://www.theinfostride.com/kingsley-moghalu-economic-diversification-panacea-for-excessive-external-borrowing/ https://www.theinfostride.com/kingsley-moghalu-economic-diversification-panacea-for-excessive-external-borrowing/#respond Mon, 05 Jul 2021 11:36:49 +0000 https://www.theinfostride.com/?p=299555 Former Deputy Governor of the Central Bank of Nigeria and former Presidential Candidate, Professor Kingsley Moghalu, has joined the advocacy for economic diversification, which he described as a matter of existential importance given the current realities in the Nigerian economy. In a paper titled: ‘Economic Diversification and the Wealth of Nations: Lessons and the Path [...]

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]]> https://www.theinfostride.com/kingsley-moghalu-economic-diversification-panacea-for-excessive-external-borrowing/feed/ 0 Official: Nigeria’s GDP to rise to 4.2% in 2022 https://www.theinfostride.com/official-nigerias-gdp-to-rise-to-4-2-in-2022/ https://www.theinfostride.com/official-nigerias-gdp-to-rise-to-4-2-in-2022/#respond Sat, 03 Jul 2021 02:51:00 +0000 https://www.theinfostride.com/?p=299333 The federal government has projected a rise to 4.2 per cent of the country’s Gross Domestic Product (GDP) in 2022. The Minister of Finance, Budget and National Planning, Zainab Ahmed, said this at the Public Consultation on the Draft 2022 to 2024 Medium Term Fiscal Framework and Fiscal Strategy Paper (MTFF/FSP) on Thursday. Mrs Ahmed [...]

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]]> https://www.theinfostride.com/official-nigerias-gdp-to-rise-to-4-2-in-2022/feed/ 0 CBN reassures Nigerians that the country’s financial system is safe, sound https://www.theinfostride.com/cbn-reassures-nigerians-that-the-countrys-financial-system-is-safe-sound/ https://www.theinfostride.com/cbn-reassures-nigerians-that-the-countrys-financial-system-is-safe-sound/#respond Tue, 29 Jun 2021 15:24:21 +0000 https://www.theinfostride.com/?p=298891 The Central Bank of Nigeria (CBN) has reassured Nigerians that the financial system of the country is safe, sound and in line with the best possible financial practices. The reassurance was made by the Governor of the CBN, Godwin Emefile, while speaking at a 2-day CBN Fair with the ‘theme: ‘Promoting Financial Stability and Economic [...]

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]]> https://www.theinfostride.com/cbn-reassures-nigerians-that-the-countrys-financial-system-is-safe-sound/feed/ 0 MTNN lifts trading on NGX by 0.15 percent https://www.theinfostride.com/mtnn-lifts-trading-on-ngx-by-0-15-percent/ https://www.theinfostride.com/mtnn-lifts-trading-on-ngx-by-0-15-percent/#respond Sat, 19 Jun 2021 09:59:20 +0000 https://www.theinfostride.com/?p=297741 Trading activities on the Nigerian Exchange rebounded on Wednesday with a gain of 0.15 per cent due to interest in MTN Nigeria Communications (MTNN).   Specifically, the All-Share Index increased by 57.41points or 0.15 per cent to close at 38,564.70 from 38,507.29 achieved on Tuesday.   Consequently, the month-to-date return increased to 0.3 per cent, [...]

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]]> https://www.theinfostride.com/mtnn-lifts-trading-on-ngx-by-0-15-percent/feed/ 0 AfDB launches $464 million Kangaroo social bond https://www.theinfostride.com/afdb-launches-464-million-kangaroo-social-bond/ https://www.theinfostride.com/afdb-launches-464-million-kangaroo-social-bond/#respond Tue, 15 Jun 2021 23:55:22 +0000 https://www.theinfostride.com/?p=297395 The African Development Bank said on Monday it is returning to the Australian capital market with the launch of a 5.5-year $464 million Kangaroo social bond. The development bank said the deal was led by Nomura and RBC Capital Markets. It added that the second social bond, following a $3.1 billion 3-year issue launched last [...]

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]]> https://www.theinfostride.com/afdb-launches-464-million-kangaroo-social-bond/feed/ 0 NNPC to supply oil to Indonesia, subsidiary looks at $70 million profit https://www.theinfostride.com/nnpc-to-supply-oil-to-indonesia-subsidiary-looks-at-70-million-profit/ https://www.theinfostride.com/nnpc-to-supply-oil-to-indonesia-subsidiary-looks-at-70-million-profit/#respond Tue, 15 Jun 2021 23:18:51 +0000 https://www.theinfostride.com/?p=297385 Nigerian National Petroleum Corporation (NNPC) through its subsidiary Duke Oil has sealed a pact to supply 30,000 barrels per day crude oil supply to Indonesia’s state oil corp, Pertamina, and Indian Oil Corporation. The development, which will strengthen the nation’s revenue outlook is coming in the face of the volatility and uncertainty in the oil [...]

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]]> https://www.theinfostride.com/nnpc-to-supply-oil-to-indonesia-subsidiary-looks-at-70-million-profit/feed/ 0 Branch promotes financial inclusion via digital banking https://www.theinfostride.com/branch-promotes-financial-inclusion-via-digital-banking/ https://www.theinfostride.com/branch-promotes-financial-inclusion-via-digital-banking/#respond Mon, 14 Jun 2021 22:49:49 +0000 https://www.theinfostride.com/?p=297266 Branch International has restated its commitment to promoting financial inclusion in Nigeria. During a virtual event in Lagos, the company said it was achieving this by leveraging technology to offer a range of unique financial services to customers. According to Branch, the quest to make formal financial services accessible at an affordable rate to individuals [...]

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]]> https://www.theinfostride.com/branch-promotes-financial-inclusion-via-digital-banking/feed/ 0 Ecobank- Our $350m bond three times oversubscribed. https://www.theinfostride.com/ecobank-our-350m-bond-three-times-oversubscribed/ https://www.theinfostride.com/ecobank-our-350m-bond-three-times-oversubscribed/#respond Mon, 14 Jun 2021 22:32:38 +0000 https://www.theinfostride.com/?p=297259 Ecobank Transnational Incorporated, the parent company of the Ecobank Group, says it has successfully raised $350m Tier 2 Sustainability Notes. ETI said in a statement on Friday that the bond was more than three times oversubscribed by investors. “This represents the first-ever Tier 2 Sustainability Notes by a financial institution in Sub-Saharan Africa,” it said. [...]

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]]> https://www.theinfostride.com/ecobank-our-350m-bond-three-times-oversubscribed/feed/ 0 Stock market gains N151 billion as bulls consolidate hold. https://www.theinfostride.com/stock-market-gains-n151-billion-as-bulls-consolidate-hold/ https://www.theinfostride.com/stock-market-gains-n151-billion-as-bulls-consolidate-hold/#respond Sun, 13 Jun 2021 09:10:10 +0000 https://www.theinfostride.com/?p=297070 The stock market gained N150.8 billion yesterday as the bulls consolidated their hold on the market. The bulls had regained control of the market on Tuesday after a negative trading on the first day of the week. The positive trend continued yesterday as 25 stocks appreciated in prices compared with six that depreciated. As a [...]

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]]> https://www.theinfostride.com/stock-market-gains-n151-billion-as-bulls-consolidate-hold/feed/ 0 Trade between Nigeria, South Africa hits $2.9b in 2020 https://www.theinfostride.com/trade-between-nigeria-south-africa-hits-2-9b-in-2020/ https://www.theinfostride.com/trade-between-nigeria-south-africa-hits-2-9b-in-2020/#respond Thu, 10 Jun 2021 23:34:13 +0000 https://www.theinfostride.com/?p=296830 Despite concerns about xenophobia between Nigeria and South Africa, bilateral ties between the two countries hit $2.9 billion last year with hopes of improved trade with the African Continental Free Trade Area (AfCFTA).   According to Nigeria’s Consulate in Johannesburg, Nigeria accounts for 64 per cent of South Africa’s trade in West Africa and is [...]

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]]> https://www.theinfostride.com/trade-between-nigeria-south-africa-hits-2-9b-in-2020/feed/ 0 Naira slides further at official market https://www.theinfostride.com/naira-slides-further-at-official-market/ https://www.theinfostride.com/naira-slides-further-at-official-market/#respond Wed, 09 Jun 2021 23:02:02 +0000 https://www.theinfostride.com/?p=296709 Naira depreciated further against the U.S. dollar at the official market, also known as the Investors and Exporters (I&E) window on Tuesday, data posted on the FMDQ Security Exchange where forex is officially traded showed.   The domestic currency remained stable at the black market.   Data from the I& E window showed that the [...]

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]]> https://www.theinfostride.com/naira-slides-further-at-official-market/feed/ 0 House asks central bank to prevent further downslope of Naira https://www.theinfostride.com/house-asks-central-bank-to-prevent-further-downslope-of-naira/ https://www.theinfostride.com/house-asks-central-bank-to-prevent-further-downslope-of-naira/#respond Wed, 09 Jun 2021 22:50:53 +0000 https://www.theinfostride.com/?p=296702 The House of Representatives has asked the Central Bank of Nigeria (CBN) to halt the downward spiral in the value of the naira against the dollar. The lawmakers reached the decision on Wednesday after debating a motion of matter of urgent public importance moved by Bamidele Salam (PDP, Osun) during plenary. PREMIUM TIMES had reported [...]

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]]> https://www.theinfostride.com/house-asks-central-bank-to-prevent-further-downslope-of-naira/feed/ 0 Nigerian government earns €1 million from sale of carbon credits.. https://www.theinfostride.com/nigerian-government-earns-e1-million-from-sale-of-carbon-credits/ https://www.theinfostride.com/nigerian-government-earns-e1-million-from-sale-of-carbon-credits/#respond Wed, 09 Jun 2021 22:39:29 +0000 https://www.theinfostride.com/?p=296697 Mr Bala Wunti, Group General Manager, National Petroleum Investment Management Services (NAPIMS) says Nigeria has earned over one million euros from sale of carbon credits through its partnership with TotalEnergies. Wunti disclosed this on Wednesday in Abuja, while speaking with newsmen on the sidelines of the ongoing 2021 Nigeria International Petroleum Summit (NIPS).   Newsmen [...]

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]]> https://www.theinfostride.com/nigerian-government-earns-e1-million-from-sale-of-carbon-credits/feed/ 0 World Environment Day: FCMB restates commitment to environmental sustainability; expands support to renewable energy sector https://www.theinfostride.com/world-environment-day-fcmb-restates-commitment-to-environmental-sustainability-expands-support-to-renewable-energy-sector/ https://www.theinfostride.com/world-environment-day-fcmb-restates-commitment-to-environmental-sustainability-expands-support-to-renewable-energy-sector/#respond Tue, 08 Jun 2021 22:21:38 +0000 https://www.theinfostride.com/?p=296569 First City Monument Bank (FCMB), has re-assured that it will continue to champion, execute and support initiatives that would enhance the ecosystem, as well as tackle some of the adverse effects of climate change and other challenges facing the environment. According to the Bank, this is in recognition of the fact that a cleaner and [...]

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]]> https://www.theinfostride.com/world-environment-day-fcmb-restates-commitment-to-environmental-sustainability-expands-support-to-renewable-energy-sector/feed/ 0 Report: Nigeria is Africa’s richest, most populous https://www.theinfostride.com/report-nigeria-is-africas-richest-most-populous/ https://www.theinfostride.com/report-nigeria-is-africas-richest-most-populous/#respond Tue, 08 Jun 2021 21:54:40 +0000 https://www.theinfostride.com/?p=296554 Nigeria has been named the richest African country by Gross Domestic Product (GDP), surpassing South Africa and Egypt with a GDP figure of N514.05 billion in the World Population Review’s 2021 Richest African Countries Ratings. According to the World Population Review, Nigeria is not just Africa’s richest country but also its most populous with a [...]

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]]> https://www.theinfostride.com/report-nigeria-is-africas-richest-most-populous/feed/ 0 FG to launch $195m Deep Blue project June 10 https://www.theinfostride.com/fg-to-launch-195m-deep-blue-project-june-10/ https://www.theinfostride.com/fg-to-launch-195m-deep-blue-project-june-10/#respond Mon, 07 Jun 2021 21:26:46 +0000 https://www.theinfostride.com/?p=296381 The Director-General, Nigerian Maritime Administration and Safety Agency, Dr Bashir Jamoh, has said that the President, Major General Muhammadu Buhari (retd.), would launch the Deep Blue Project worth $195m on June 10, 2021. Jamoh, revealed this in a statement on Friday adding that the event would combine both the commemoration and the launching of the [...]

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]]> https://www.theinfostride.com/fg-to-launch-195m-deep-blue-project-june-10/feed/ 0 National Assembly working on disallowing bankers from operating foreign accounts https://www.theinfostride.com/national-assembly-working-on-disallowing-bankers-from-operating-foreign-accounts/ https://www.theinfostride.com/national-assembly-working-on-disallowing-bankers-from-operating-foreign-accounts/#respond Mon, 07 Jun 2021 21:05:41 +0000 https://www.theinfostride.com/?p=296375 The House of Representatives is considering disallowing staff members of banks and other financial institutions from operating accounts outside the shores of Nigeria. Their spouses and children may also be mandated to declare their assets when a bill presently at the House becomes law. This was contained in the ‘Bank Employees, Etc., (Declaration of Assets)(Amendment) [...]

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]]> https://www.theinfostride.com/national-assembly-working-on-disallowing-bankers-from-operating-foreign-accounts/feed/ 0 Foreign stock investors withdraw N99.94bn in four months https://www.theinfostride.com/foreign-stock-investors-withdraw-n99-94bn-in-four-months/ https://www.theinfostride.com/foreign-stock-investors-withdraw-n99-94bn-in-four-months/#respond Sun, 06 Jun 2021 21:29:51 +0000 https://www.theinfostride.com/?p=296270 A total of N99.94bn was pulled out by foreign investors from the Nigerian stock market in the first four months of this year as foreign involvement plunged to a four-year low in April. The foreign portfolio investors injected N 78.31bn into the market from January to April this year, according to data from the Nigerian [...]

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