Rating agencies Fitch and Moody’s have downgraded Ghana’s biggest banks, GCB Bank PLC and Ecobank Ghana Limited. GCB Bank PLC and Ecobank Ghana Limited are Ghana’s largest and second-largest banks, respectively. Two other Ghanaian banks with Nigerian affiliation, UBA Ghana and GTBank Ghana, also had their ratings revised from stable to negative due to their “high exposure to the sovereign …

The Development Agency of Western Nigeria (DAWN Commission) and the Asia Africa Chamber of Commerce (AACC) have entered into a bilateral trade and investment development. The Memorandum of Understanding between the Nigerian sub-regional commission and the Asian body was signed in the former’s Ibadan office last Wednesday. Present at the signing ceremony were the Director General of the DAWN Commission, …

The Minister of Power, Alhaji Abubakar Aliyu has said that the current power situation in the country is caused mainly by shortage of gas. Briefing State House correspondents after a hybrid meeting of the Federal Executive Council on Wednesday, the Minister disclosed that efforts were being made to address the situation, adding that Nigeria had the capacity of 8,000Mw on …

The past two years have seen dramatic changes in the global economy occasioned by the challenges of COVID-19 pandemic. Indeed, the pandemic had devastating consequences on many corporate organisations, hence the need to evolve new survival strategies for profit optimisation. 2022, being a pre-election year, made it even more imperative for the egg heads in various organisations to think out …

In order to tackle the challenges of gas flaring in Nigeria, the Nigerian National Petroleum Company Limited (NNPC Ltd) is to ensure that any proposed project without clear-cut plans to commercialise or use up its associated gas would no longer be approved. The NNPC Group Managing Director, Malam Mele Kyari said that gas utilisation was a major priority of both …

The debate on the appropriate pricing for air flight within Nigeria has again generated concern following the recent hike in fares by indigenous airlines. From between N23,300 and N48,000, many domestic airlines raise their fare to N50,000, arguing that a price below $100 (about N50,000) for one-way trip within the country is a loss for the carriers. Officially, the US dollar …

The Nigerian Navy has appointed Commodore Aliyu Gaya as the Maritime Guard Commander of the Nigerian Maritime Administration and Safety Agency (NIMASA). According to a statement by NIMASA’s Assistant Director, Public Relations, Mr Edward Osagie, Commodore Gaya takes over from Commodore Ezekiel Nyako Lamiri, who has been redeployed to the Nigerian Defence Academy. Commodore Gaya was the Director of ECOWAS …

A National Identity Number (NIN) virtual token has been introduced by the Ministry of Communications and Digital Economy. The virtual NIN is a tokenised version of an individual’s NIN, which another party verifying the number cannot retain and use. And this new option is guaranteed to ensure that the individual’s data privacy is not at risk. The token generated lasts …