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Kaduna to become grape-farming hub in Nigeria – Gov
Kaduna State is set to become Nigeria’s grape-farming hub, with Governor Uba Sani promising to provide seedlings, mechanisation, training, and support services to grape farmers to improve their yield per hectare in the…
2024 POS transactions surpassed ATM usage by 603% – CBN
Nigerians made transactions worth N85.91tn through point-of-sale terminals in the first half of 2024, a figure that is over seven times the N12.21tn recorded for ATM transactions within the same period. This data,…
ZENITH BANK ENHANCES STAFF PAY BY OVER 20% AND PROMOTES ABOVE 4,000
One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare by announcing the promotion of over 4,000 staff members and implementing…
Mambilla power project: Obasanjo spreading falsehoods – Agunloye
A former Minister of Power and Steel, Olu Agunloye, has accused former President Olusegun Obasanjo of deliberately spreading falsehoods to obscure his own record regarding the Mambilla power project. Agunloye is currently…
$2.5b Mambilla power dispute: What Obasanjo, Buhari told Paris court
Former Presidents Olusegun Obasanjo and Muhammadu Buhari have told the International Chamber of Commerce Court of Arbitration in Paris, France that the Federal Government at no time awarded a contract in…
Nigeria’s High Interest Rate Is Stoking Inflation – Taiwo Oyedele
Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, has presented a compelling counterargument…
Setback hits Sunrise Power in $2.35bn Mambilla arbitration as key witnesses fail to show up
Sunrise Power’s hopes of securing a $2.35 billion award against Nigeria in the arbitration proceedings at the International Chamber of Commerce (ICC) over…
Dangote oil refinery to receive 12 million barrels of US crude
The Dangote Refinery in Nigeria is set to receive 12 million barrels of crude oil from the US as it struggles to secure sufficient domestic…
Inflation rebasing drives N2.49trn T-bills oversubscription, expectations of rate cut
Nigeria’s one-year Treasury bill auction was oversubscribed to the tune of N2.49 trillion as investors lock in on current yields as they price in a rate cut after rebasing of inflation rate. This led to a decline…
Banks lower rates on FX deposits as supply rises
Banks are beginning to reduce their interest rates on foreign exchange (FX) deposits as dollar supply improves. Olusegun Alebiosu, chief executive officer of First Bank of Nigeria, revealed during an executive…
Dangote’s Brother, Sayyu Dantata’ $22m Banana Island Mansion Up For Sale
Nearly a year after listing his luxurious Banana Island mansion for sale, Sayyu Dantata, the half-brother of Africa’s richest man,…
Make your products in America or pay tariffs – Trump tells World Business Leaders
US President Donald Trump told world business leaders Thursday to manufacture in the United States or face tariffs, in his first major speech to global leaders since returning to the White House this week. Since his…
Telecoms tariff will be reviewed periodically — Edun
Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, has said that the tariff in the telecommunications sector would be reviewed periodically. Edun spoke to Arise TV, yesterday at the…
Moniepoint secures investment from Visa to drive financial inclusion in Africa
Moniepoint, a Nigerian fintech company, says it secured investment from Visa, the digital payments giant, to support the growth of small…
Guinness Nigeria reports N20 billion profit, 6 months after Tolaram takeover
Guinness Nigeria Plc released its second-quarter earnings, revealing a pre-tax profit of N20.1 billion for the period ending December 31, 2024. This marks a significant reversal of fortunes from the pre-tax loss of N8.2…
‘N100k daily, N500k weekly’ — banks begin implementation of PoS withdrawal limit
Union Bank has commenced the implementation of a daily withdrawal limit on point-of-sale (PoS) terminals. The implementation followed…
Women-Led Businesses, Agriculture to Benefit from $35m FCMB Deal
Proparco has deepened its partnership with First City Monument Bank (FCMB) by signing three key agreements to support the Nigerian bank's financing…
CBN Launches Nigerian FX Code Next Week
The Central Bank of Nigeria (CBN) has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of authorised…
Manufacturers’ Unsold Inventories Hit N1.4trn In 2024
Nigeria’s severe economic challenges including rising inflation, depreciating currency, and operational inefficiencies have left the…
50% tariff hike insufficient, say Telcos amid pushback by subscribers
• FCCPC, others demand service accountability Despite mounting opposition against the 50 per cent upward review of telephone service charges,…
Over N9bn spent to fuel 13,000 generators in Lagos markets annually
More than N9 billion is being spent by shop owners to fuel 13,000 generators, in Lagos markets, with Lekki, Ikoyi and other…
Nigeria Not Yet Hyperinflation Economy – FRC Insists
The Financial Reporting Council of Nigeria (FRC) on Wednesday pointed out that Nigeria was not yet a hyperinflationary economy. Owing to this, the Council, in a press statement signed by its Executive Secretary/Chief…
Global inflation, high operation cost responsible for telecom tariff hike – FG
The Minister of Communications, Innovations, and Digital Economy, Bosun Tijani, has attributed the recent tariff hike by mobile network operators (MNOs) to global inflation and…
Firm moves to stop SPDC, NUPRC from selling its onshore assets
A Federal High Court in Abuja has commenced hearing of a suit filed by Global Gas and Refining Limited, seeking an order restraining Shell Petroleum Development Company of Nigeria Limited (SPDC) and the Nigerian…