Business

FAAN Decongest Lagos Airport With Refurbished Terminal to Enhance Travel Experience

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The Federal Airports Authority of Nigeria (FAAN) has taken a significant step towards decongesting the Murtala Muhammed International Airport (MMIA) in Lagos by commissioning a refurbished departure terminal. Eko Hot Blog reports that alongside this improvement, four environmentally friendly CNG-powered air-conditioned buses have been introduced to enhance passenger mobility within the airport premises. EDITOR’S PICK … Read more

Airtel Nigeria Wins Two Awards for Sustainability PR and Internal Comms at LaPRIGA 2024

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Airtel Nigeria reaffirmed its position as a leader in innovative and impactful public relations, clinching two prestigious awards at the Lagos Public Relations Industry Gala and Awards (LaPRIGA) held at Muson Centre, Onikan, Lagos on Friday, 13th December 2024. The award ceremony themed ‘Shining Stars’, highlighted Airtel’s successful commitment to sustainability and employee engagement. EDITOR’S … Read more

Yuletide: Price of Local Rice Drop

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Harvest Season responsible for the drop in price of local rice Yuletide Season and Abakakiki rice  Local rice production  The price of de-stoned local rice, commonly known as ‘Abakaliki rice,’ has experienced a slight reduction of six to ten percent in major markets in Enugu, bringing relief to residents and driving increased patronage for the … Read more

FCT-IRS Reports 19.8% Revenue Growth in 2024, Reaching N252.83 Billion IGR

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 The Federal Capital Territory Internal Revenue Service (FCT-IRS) has achieved a significant milestone by collecting a total of N252.83 billion in Internally Generated Revenue (IGR) for 2024. Eko Hot Blog reports that this figure not only exceeds the N250.2 billion target for the year by 101% but also represents a 19.8% increase from the N211.1 … Read more

Flood Relief Efforts Strengthened as Committee of Banks in Nigeria Provides Essential Aid to Jigawa State

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The Committee of Banks in Nigeria demonstrated their solidarity and support for the victims of the recent flooding in Jigawa State with a visit to Dutse on Thursday. Eko Hot Blog reports that during this visit, the committee, led by Chairman and Group Managing Director/Chief Executive Officer (GMD/CEO) of United Bank for Africa Plc (UBA), … Read more

Access Bank Hosts German President Steinmeier, Fostering Economic Ties Between Germany and Nigeria

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Access Bank Plc recently hosted Frank-Walter Steinmeier, the President of the Federal Republic of Germany, during his first official visit to Nigeria. Eko Hot Blog reports that this visit underscores the growing significance of German-Nigerian economic ties and highlights Access Bank’s pivotal role in fostering bilateral trade relations. EDITOR’S PICK Anambra Assembly Approves Governor Soludo’s … Read more

 Stanbic IBTC Bank and CIG Motors Partner to Simplify Car Ownership

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In a groundbreaking move for prospective car owners, Stanbic IBTC Bank has partnered with CIG Motors, the driving force behind the renowned automobile brand GAC Motors.  Eko Hot Blog reports that the partnership, officially signed at the GAC G-Style showroom, seeks to streamline the often-complex process of owning a brand-new vehicle by introducing a flexible … Read more

Naira Strengthens Further on Black Market as Dollar Declines

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Dollar to Naira Exchange 5th September

The naira strengthened against the dollar on the parallel foreign exchange market on Wednesday. Bello, a Bureau de Change operator at Garki, Abuja, confirmed to EKO HOT BLOG that the naira traded at N1,660 per dollar, improving from N1,675 on Tuesday, marking a gain of N15. EDITOR’S PICKS  PDP Declares Ethiope East Federal Seat Vacant … Read more

SERAS 2024: Airtel Nigeria Clinches Partnership of the Year Award

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Airtel Nigeria Wins Two Awards for Sustainability PR and Internal Comms at LaPRIGA 2024

Airtel Nigeria’s commitment to sustainable development has once again been acknowledged at the 18th edition of the Sustainability, Enterprise, and Responsibility Awards (SERAS), where the company received the prestigious Partnership of the Year award. Eko Hot Blog reports that the recognition celebrates Airtel’s groundbreaking collaboration with the United Nations Children’s Fund (UNICEF) on the Re-imagine … Read more

Senate Passes Insurance Industry Reform Bill, Awaits Presidential Assent

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The Nigerian Senate has passed the 2014 Nigerian Insurance Industry Reform Bill, marking a significant step towards consolidating various existing laws that regulate insurance businesses in the country. Eko Hot Blog reports that the bill which was read for the second time on July 18, aims to create a more robust legal and regulatory framework … Read more

CBN Sets N1.2m Daily Transaction Limit for PoS Agents

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The Central Bank of Nigeria (CBN) has recently implemented a new policy limiting daily transactions for Point of Sales (PoS) agents to N1.2 million. Eko Hot Blog reports that this decision outlined in the ‘Circular on Cash-Out Limits for Agent Banking Transactions,’ is part of the apex bank’s ongoing efforts to encourage a cashless economy … Read more

Airtel Nigeria Kicks Off 10th ‘5 Days of Love’ Campaign

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Airtel Nigeria, a leading telecommunications services provider, has launched the 2024 edition of its long-standing community feeding program, ‘5 Days of Love.’ Eko Hot Blog reports that this year the company has committed to feeding 6,000 underprivileged Nigerians across six states to spread joy and celebrate with the communities it serves. EDITOR’S PICKS Badenoch ‘A … Read more

Shell Nigeria Announces Final Investment Decision for Bonga North Deep-Water Project

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Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, recently announced a final investment decision (FID) for the Bonga North deep-water project, located off the coast of Nigeria. EDITOR’S PICKS  PDP Declares Ethiope East Federal Seat Vacant Following Ibori-Suenu’s Defection to APC Retired Principals Call for Recognition and Better Welfare from … Read more

Cash Scarcity: CBN Clears Air on Validity of Old ₦1000, ₦500, ₦200 Notes

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Cash Shortage PoS Agents

The Central Bank of Nigeria (CBN) has clarified that all naira banknotes, including the old and new designs of the ₦1000, ₦500, and ₦200 denominations, as well as the commemorative and previous designs of the ₦100 note, remain valid legal tender indefinitely, with no set deadline. EKO HOT BLOG reports that In a statement signed … Read more

Naira Weakens by N8 Against Dollar in Official Market

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Dollar To Naira Rate For Today - July 22

The naira weakened against the dollar on Friday in the foreign exchange market, ending the week on a downward trend. According to data from the Central Bank of Nigeria’s FX rate, the naira depreciated to N1,540.00 per dollar on Friday, compared to N1,532.00 on Thursday, reflecting a slight decline of N8 at the official market. … Read more

Naira Appreciates by N14.94 Against Dollar in Official, Black Market

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Dollar to Naira Exchange Rate Today – May 26

The naira appreciated against the dollar in both the official and parallel foreign exchange markets on Thursday. According to data from the Central Bank of Nigeria (CBN), the naira closed at N1,532 per dollar, up from N1,545 on Wednesday. Similarly, data from FMDQ indicated that the naira strengthened to N1,534.35 per dollar on Thursday, compared … Read more

Naira Crashes to N1,745/$ in Parallel Market Amid Forex Volatility

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Dollar to Naira Exchange 5th September

The exchange rate between the naira and the US dollar fell to approximately N1,745/$1 on the parallel market on Wednesday, marking a sharp decline from the N1,600/$1 levels recorded at the end of last week. On various platforms, peer-to-peer (P2P) exchanges quoted rates as low as N1,715/$, while some International Money Transfer Operators reported rates … Read more

Naira Strengthens Against Dollar 24 Hours After Fall

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CBN Food Import Funding

The Naira has regained value against the US dollar in the official foreign exchange market, just 24 hours after experiencing a depreciation. Central Bank of Nigeria (CBN) exchange rate data for Tuesday revealed that the Naira strengthened to N1,525 per dollar, up from N1,538.50 on Monday. This marks a gain of N13.5 compared to the … Read more

OPay Wins Financial Inclusion Innovation Award at 2024 IFIC

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OPay Wins Financial Inclusion Innovation Award at 2024 IFIC

OPAY received the CBN’s IFIC Award for Financial Inclusion Innovation at the 2024 International Financial Inclusion Conference, which brought together global leaders to advance financial inclusion in Africa and beyond. OPay stated that the award highlights its compliance with regulatory standards and support for Nigeria’s financial inclusion goals, aiming for a 95 percent participation rate … Read more

Champion Breweries Gets Shareholder Approval to Raise ₦20bn for Expansion

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Champion Breweries Gets Shareholder Approval to Raise ₦20bn for Expansion

Champion Breweries Plc has received shareholder approval to raise ₦20 billion to expand its operations and boost growth. The decision was made at an extraordinary general meeting, the company announced on Thursday. The funding plan includes issuing up to 1.58 billion ordinary shares to meet the Nigerian Exchange Limited’s (NGX) free float requirement. This move … Read more

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