Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Business
EFCC clamps down on firms for issuing invoices in dollar
Agency arrests suspects in Lagos, PH, Kaduna Varsity proprietors summoned The Economic and Financial Crimes Commission (EFCC) yesterday joined the battle to halt…
FCMB Launches Accelerator Programme to Empower One Million SMEs
First City Monument Bank (FCMB) has launched an accelerator programme to upskill and grow over one million small and medium-sized enterprises (SMEs) in…
Importers, clearing agents, others kick against duty hike
Stakeholders in the maritime industry have decried the new Customs duty exchange rates, labeling it as oppressive and anti-people The stakeholders who spoke with The Nation in separate interviews condemned the hike in…
Bank directors back CBN over sale of excess dollars
Bank Directors Association of Nigeria says it is supportive of a directive by the Central Bank of Nigeria asking commercial banks to stop “hoarding’’ foreign currencies. The CBN had last week expressed concerns over the…
$2.4bn FX Claims Not Valid, $2.3bn Settled, $2.2bn Outstanding – Cardoso
*Puts total loans, advances by apex bank to economy at N40 trillion out of which CBN interventions gulp N10 trillion *Dispels rumoured plans to convert domiciliary…
Forex crisis: Importers abandon cargoes inside Nigerian ports
Following incessant review of the nation’s exchange rate by the Central Bank of Nigeria (CBN), which has seen the Naira exchange to the Dollar at N1,413.62/$1 from N1,356.883/$1 at the weekend, investigations by the…
Duty increase, spot FX rate adoption throw market into panic
• Customs: We are merely obeying CBN’s directive • 50kg bag of rice may cost N100,000, says CPPE • Customs under pressure to meet N5…
‘Why Coco Samba Is Best Brand In The Market’
Bullion Go-Neat Global Ltd, an indigenous company has give reasons why its product, Coco samba is best brand in the market. The company provided the insight during…
Elon Musk of Tesla routinely took illegal drugs and his fellow directors knew says new press reports
Elon Musk’s use of illegal drugs was common knowledge among several current and former Tesla Inc. and SpaceX directors, the Wall Street Journal reported on Saturday. There was concern about the volume of Musk’s illegal…
FX crisis reignites questions over NNPC’s dollar remittance
“Why is there no dollar coming in? Why is NNPC not able to bring in dollars? I am sorry this is the question that cost me my job and I will continue asking this question until NNPC fixes it up or until I die. Where…
140bn NNPCL Acquisition: Group Petitions Reps On OVH Energy Downstream Assets
A non-governmental group, Nigeria Transparency Council (NTC), has dragged the Mele Kyari led Nigerian National Petroleum Company Limited (NNPCL) Mgt and NNPCL retail group to the House of Representatives Committee on…
Tax Evasion: How Govt Loses Huge Revenue To Social Media Content Creators, Influencers
In recent years, social media has provided a vibrant platform for Nigerians to showcase their talents and earn big even in foreign currencies. However, unlike what obtains in other countries, content creators and…
French Firm Plans To Buy MultiChoice
A French firm, Canal Plus, has disclosed plans to purchase over 60 per cent shares of South Africa’s Multi-Choice Group to take ownership of the company. According to Reuters, the deal, which is valued at roughly…
36 oil blocks under concession to IOCs, others – NNPCL
No fewer than 36 oil blocks are under concession to international oil companies operating in Nigeria and their indigenous counterparts in the country, latest data from the Nigerian National Petroleum Company Limited…
Assets of divesting companies are still unsold, NUPRC clarifies
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that no asset of the International Oil Companies (Divesting Companies) have been sold, as the Commission is still carrying out due diligence on…
CBN stops daily CRR debits from banks’ deposits
The Central Bank of Nigeria (CBN) says it will stop daily cash reserve requirement (CRR) debits of deposits in commercial banks. CBN said this on Friday, in a circular titled ‘Cash Reserve Requirement Framework…
Worries as CBN raises Customs duty exchange rate to N1, 356.883/$
•Re-jigs Cash Reserve Requirement Framework Nigerians are in for more economic hardship induced by inflation as the Central Bank of Nigeria…
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
There are strong indications that the Federal Government is mulling a policy that will result in the conversion of foreign currencies in domiciliary accounts of citizens to naira to stabilise the national currency,…
FBN Holdings lists Otudeko’s company as majority investor | Otedola drops to second
First Bank Nigeria (FBN) Holdings Plc has named Barbican Capital Limited, owned by Oba Otudeko, as its majority shareholder — ending months of uncertainty around the acquisition made in July 2023. In the company’s…
FG Commends Dangote Cement for Vital Roles in Economic Diversification
…Minister lauds Cement Plant’s promotion of best practices The Federal Government has commended the leading roles being played by the Dangote Group to complement…
After Clearance Of Foreign Airlines Trapped Funds, Travel Agents Demand Lower Air Fare
After the Central Bank of Nigeria (CBN) released outstanding backlogs of $64.44 million of foreign airlines trapped funds, the National Association of Nigerian Travel Agents (NANTA), on Thursday, called for opening of…
NNPC pays N140.55bn for Oando-branded retail stations, jetty, others
The Nigerian National Petroleum Company Limited (NNPC) paid cash amounting to $325.09 million (N140.559 billion) for the acquisition of Oando-branded retail stations…
Adidas says it plans to sell remaining Yeezy sneakers
Adidas says it plans to sell remaining stocks of Yeezy sneakers from its defunct partnership with Kanye West for at least cost price. The firm cut ties…
CBN orders banks to sell excess dollars in 24 hours
•Banks may sell over $5bn, says official, Cardoso faces Senate Tuesday over naira fall Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks…