AIICO Insurance Plc has initiated the implementation of the International Financial Reporting Standards (IFRS 17) in a move to enhance work processes and achieve excellence in financial reporting. IFRS 17 is a comprehensive standard designed to regulate accounting for insurance contracts...
The Nigerian National Petroleum Company Limited (NNPC Ltd) has responded to allegations of underhand dealings in the award of contracts for pipeline rehabilitation, stating that the contracts were awarded based on rigorous evaluation criteria and industry standards. The company issued a...
Stanbic IBTC Holdings Plc has launched its fintech subsidiary, Zest, aiming to transform the payment sector. During the launch event in Lagos, Group Chairman Basil Omiyi emphasized their vision to become the leading end-to-end financial services provider in the region. Omiyi stressed the...
In a recent report titled "Africa's Pulse," the World Bank has highlighted the sharp depreciation of the Nigerian Naira as one of the key economic challenges facing the African region. According to the report, the Naira has weakened by nearly 40 percent against the US dollar since a mid-June...
In a noteworthy turn of events, the Nigerian Naira has displayed a substantial appreciation in its value against the United States Dollar at the Investors and Exporters (I&E) window. This development has sparked considerable interest and raised questions about the factors fueling this...
Image by Gerd Altmann from Pixabay
Fintech company OPay has become involved in a controversial situation that has surprised many Nigerians. Nairametrics reported that many Nigerians have discovered they have OPay accounts despite having yet to open one. This discovery has sparked questions and...
Title: "NDIC Pays N16.18 Billion in Dividends to Depositors of 20 Liquidated Banks"
The Nigeria Deposit Insurance Corporation (NDIC) has taken a significant step towards resolving the fallout from the liquidation of 20 banks by declaring N16.18 billion in liquidation dividends. This...
The Federal Government of Nigeria has made a significant policy decision to exempt Value Added Tax (VAT) on diesel for a period of six months. This announcement comes in the wake of ongoing discussions with various labor unions regarding their planned industrial action.
Minister Mohammed Idris...
BUA Group has announced a significant reduction in the price of cement, effective October 2, 2023. The cement manufacturer has fixed the ex-factory price at 3,500 NAIRA per bag, a move aimed at allowing Nigerians to enjoy the benefits of the price reduction before the completion of new...
Google celebrated Nigeria's 63rd Independence Day with a special doodle on its homepage. The doodle featured Nigeria's national flag waving against a bright blue sky. In commemoration of the occasion, Google highlighted the significance of Nigeria's Independence Day celebrations, including the...
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