Geometric $50m loan lights up Aba in 6 months

The one hundred and forty-one megawatts (141mw) Geometric Power Plant in Aba, the commercial hub of Abia State, will become operational by June next year, courtesy of a $50 million facility provided by the African Export-Import Bank (Afreximbank)

Poor infrastructure tops Fintech challenges in Nigeria- FairMoney CEO

The lack of infrastructure needed for Fintech companies to provide seamless financial services to Nigerians, especially the unbanked, is one of the biggest challenges facing the industry players, according to FairMoney’s Founder & CEO, Laurin Hainy

Honeywell, Flour Mills N80bn merger to boost Nigeria’s food production

Honeywell Group Limited (HGL) and Flour Mills of Nigeria plc (FMN), Monday, announced the signing of an agreement that will see them combine operations as FMN and Honeywell Flour Mills plc

Healthlane bets on Nigeria’s preventive healthcare market

Nigeria’s budding preventive healthcare market has attracted a fresh bet from a growing global firm, Healthlane, aiming to democratise access to optimised precautionary health services to all Ni

Closing the gaps in Nigeria’s transport industry to grow the economy

Nigeria’s transport, logistics and E-commerce sector has great potential. It can triple its current output, if well managed (The E-commerce market was recently estimated at about USD$12 billion

Nigeria’s Venture capital deals now five times of FDI

Venture capital investment into Nigeria is now five times the amount of Foreign Direct Investment in Africa’s biggest economy. Venture capital investment in the country has ballooned from a mere three hundred million dollars ($300 million).

FG to give ‘poor Nigerians’ N5000 in exchange for subsidy removal

The federal government of Nigeria is mulling plans to replace the controversial petrol subsidy scheme with an N5,000 monthly transportation grant to the poorest Nigerians

CBN holds interest rate for 8th straight time on slowing inflation

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria has concluded its two-day meeting in November 2021.

This marks the last MPC meeting for the year 2021.

At the end of the meeting, the committee resolved to hold the monetary policy rate and all other policy parameters constant.

 The decisions reached are as follows:

• The benchmark interest rate (MPR) retained at 11.50%
• The asymmetric corridor remained at to +100/-700 bps around the MPR
• The cash reserve ratio retained at 27.50%; and
• The Liquidity Ratio retained at 30.00%