Teliat Sule

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), in continuation of its hawkish stance, on Tuesday raised the Monetary Policy Rate (MPR), the country’s benchmark interest rate, to 27.25 per cent, up from 26.75 per cent.

Experts at the 2nd Gender Impact Investment Summit currently ongoing in Lagos have urged women to explore more investment opportunities in order to play a major role in the nation’s economic development, noting that with women constituting about 50 percent of Nigeria’s population, there is more for women-led businesses to create for the country to realise its full potential.

Stakeholders at the 2nd Gender Impact Investment Summit in Lagos State, Nigeria’s commercial nerve centre, have identified actionable strategies that are needed to enhance access to impact capital for women-led businesses in the country.

The authorities of the Nigerian Exchange Group (NGX) will list 4,344,844,360 ordinary shares of 50 Kobo each of Aradel Holdings on the Main Board of NGX today, October 14, 2024. Each share of the company will be listed at N702.69 per share, the NGX has disclosed through a notice sent to the stakeholders.

Development experts that attended the 31st Annual LAPO Development Forum in Abuja last Thursday have advised the Federal Government of Nigeria to prioritise the reduction of multidimensional poverty in the country through cohesive economic policies and reforms that thrive on the collaboration between the public and private sectors and supported by civil societies organisations in the country.

The 36 states of the federation and the Federal Capital Territory Abuja generated N2.43 trillion as Internally Generated Revenue (IGR) in 2023, representing an increase of 26.03 percent over N1.93 trillion realised by the same units in 2022, the National Bureau of Statistics (NBS) revealed on Monday.

Amid a profit windfall occasioned by the humongous gains realised from forex, six deposit money banks in Nigeria have paid a total of N537.45 billion as tax to the Federal Government in the first three quarters of 2024. Their income during the period was further boosted by the hawkish stance of the Central Bank of Nigeria (CBN) which raised the benchmark interest rate, the Monetary Policy Rate (MPR), to 27.25 percent in a bid to taper inflation.

Diversified energy giant, Oando Plc, has announced a profit after tax of N60.3 billion in its audited financial results for the full year ended 30 December 2023, signaling a noticeable improvement over its 2022 performance when it recorded a loss after tax of N81.3 billion.

Investment and financial experts under the aegis of the Chartered Institute of Stockbrokers (CIS) have emphasised the need for efficient and affordable access to financing and creating special platforms for the listing of Small and Medium Enterprises (SMEs) as part of the strategies Nigeria should implement towards raising the country’s gross domestic product (GDP) to $1 trillion.

Leading impact investing organisations in Nigeria, Alitheia Capital and the Centre for Legal Support and Inmates Rehabilitation (CELSIR) have been announced as the winners of the two prestigious awards at the 2024 West Africa Deal Summit held in Lagos, Nigeria’s commercial capital.