Business

Libya overtook Nigeria to emerge top African crude oil producer for the month of March, data from the Organisation of Petroleum Exporting Countries (OPEC) has shown. According to the April 2024 Monthly Oil Market Report…

The Association of Bureau De Change Operators of Nigeria (ABCON) has requested that the Central Bank of Nigeria (CBN) prevent non-oil export domiciliary account holders from obtaining foreign exchange through the…

Former US President Donald Trump has suffered substantial financial setbacks, resulting in his removal from the global billionaire index amid an ongoing legal battle. This led to the crash of his Truth Social…

The Chairman of  Dangote Group, Alhaji Aliko Dangote, has said that the significant cut in the diesel price to N1,200 will have a positive effect on inflation in Nigeria. He disclosed this  during a Wednesday…

117 gone in 20 days Staff accuse mgt of illegality, double standard External vendors affected Fifty more staff of the Central Bank of Nigeria (CBN) were sacked on Monday, adding to…

… We’ll keep pushing new boundaries to satisfy our consumers ― Dangote The president of Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), Sir Odeiga Jideonwo, has…

The Central Bank of Nigeria, CBN said that it expects a massive inflow of Foreign Direct Investment, FDIs, with foreign investors taking position in Nigerian banks through the ongoing recapitalisation exercise. Director,…

The Corporate Affairs Commission, CAC, has placed the records of First Bank of Nigeria (FBN) Holdings on caveat pending the resolution of the crisis rocking… The Corporate Affairs Commission, CAC, has placed the…

The Director of Financial Policy & Regulatory Department of the Central Bank of Nigeria (CBN), Haruna B. Mustafa, has provided reasons for the exclusion of retained earnings of banks in the proposed capitalization…

Oil marketers have called for a downward review in the pump price of the Automotive Gas Oil, popularly called diesel, being produced by the Dangote Petroleum Refinery to between N700 and N850/litre, as operators plan to…

United Bank for Africa (UBA) Plc has released its audited results for the year ended December 31, 2023. The group’s profit before income tax (PBT) printed higher at N757.680billion as against N673.011billion in…

The management of Stanbic IBTC Holdings Plc is sure it will comfortably raise the N138 billion in capital shortfall for its national banking license following the recapitalisation announcement from the Central Bank of…

Oil prices increased during early Asian trading as optimism faded regarding the potential for ceasefire negotiations between Israel and Hamas to alleviate tensions in the Middle East. Brent crude futures climbed by 40…

Shareholders of Dangote Cement Plc will receive a dividend of N511.215 billion for the financial year ended December 2023, representing a reward of N30.00 for each share held. The board of directors of Dangote Cement…

THE federal government has concluded arrangements to receive $1.05 billion syndicated loan backed by oil towards the end of May 2024. The loan is part of the $3.3 billion “pre-export finance facility” facilitated by the…

• CBN to release $16 million to retail market via BDCs this week• Intervention, others cost foreign reserves $1.1 billion in three weeks• Banks to wind down naira loans-backed FX collaterals in 90 days• Policy to…

…….. Reports Profit Before Tax of ₦609.3billion Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial…

Foreign exchange (FX) inflows into Nigeria surged to a five-year high in the month of March as investor confidence improves on the back of the…

When shareholders of FBN Holdings Plc meet virtually on April 30, the Board will be seeking their approval to raise about N300billion in new capital. The capital raise transaction will be by Issuance of shares via a…

The Central Bank of Nigeria (CBN) has continued to ramp up efforts to bring in capital inflows to the country through tighter monetary conditions, a move which has seen the naira strengthen against the US dollar.…

Zenith Bank Plc, one of Nigeria’s largest banks, published its audited accounts for the fiscal year 2023, showcasing gross earnings of N2.13 trillion. This represents a growth of 125.4% year on year and is the…

The Central Bank of Nigeria (CBN) has banned the use of foreign currency-denominated collaterals for obtaining naira loans, except under specific conditions. This was conveyed through a circular distributed to all Nigerian…

The Nigeria Customs exchange rate of import duties and cargo clearance has dropped below the official market of N1251/$. Checks on the Nigeria Customs foreign exchange portal reveal that the exchange rate of import…

First City Monument Bank (FCMB) has reaffirmed its commitment to sustainable manufacturing that minimizes negative environmental impact while conserving…