Business

Jeff Bezos, the founder of Amazon, on Thursday, replaced Bernard Arnault, a French entrepreneur, as the world’s richest person. According to data from Bloomberg…

The Central Bank of Nigeria (CBN) is making all the right moves to attract foreign portfolio investors (FPIs) into a market that burnt fingers in the last eight years, but…

Nigeria’s naira rose to a two-month high of N1,382.35 per dollar on Thursday at the official foreign exchange market helped by foreign exchange reforms by the Central…

Rising diesel prices are threatening Nigeria’s communication backbone, with telecommunication operators’ spending on the fuel rising to N50.28…

Regulators on both sides of the Atlantic are training their eyes on Apple Inc., unnerving investors with fears over fines and threatening its market dominance. In the US, the Justice Department and 16 attorneys general are…

The wives of two Binance employees detained by the Nigerian government have cried out that they are heart-broken for the continued detention of their husbands. Two Binance employees, Tigran Gambaryan and Nadeem…

The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited Bismark Rewane believes better days are ahead for the country’s currency, the naira.  On Wednesday, the naira closed trading at…

Foreign airlines in Nigeria say they do not support patronising the investors and exporters (I&E) window for foreign exchange (FX) transactions. The airlines, under the aegis of the Association of Foreign Airlines…

Following reports that the Central Bank of Nigeria, CBN, has cleared all valid foreign exchange backlogs, foreign airlines, yesterday, questioned the claim. President of Association of Foreign Airlines and…

The Deputy Governor in charge of Economic policy at the Central Bank of Nigeria (CBN), Muhammad Sani Abdullahi has projected Nigeria’s external reserve to increase from around $34.98 billion to over $35 billion by the end of…

In 2023, Nigeria was the top recipient of payments from Shell, receiving approximately $4.92 billion. This amount, the highest paid to any government by the oil giant, included company income taxes, fees, royalties,…

The Presidency has warned forex speculators to discard their Dollars, saying that the Naira will soon appreciate. President Bola Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, made this call in a…

Olayemi Cardoso , Governor of the Central Bank of Nigeria, said that the apex bank will no longer grant Ways and Means advances to the federal government unless the outstanding balance is settled. The CBN governor made…

Against claims by the Central Bank of Nigeria (CBN) that it has successfully settled all outstanding foreign exchange (FX) obligations,foreign airlines says the status quo remains the same. Kingsley Nwokeoma,…

World’s largest cryptocurrency trade platform, Binance, has raised the alarm over prolonged detention of its officials, Tigran Gambaryan, a U.S. citizen and British-Kenyan Nadeem Anjarwalla, by the Federal Government…

The federal government has disclosed its purchase of 58,500 tons of milled rice from the Rice Farmers Association to stabilise the market across Nigeria. The Minister of Agriculture, Sen. Abubakar Kyari while disclosing the…

This is a real-life story of Nigerian billionaire Femi Otedola on the day he lost everything. Life was rosy for Femi Otedola until it took a sudden turn leaving him billions in the red. He had to start all over again. In…

At least 31 state governments in Nigeria have collectively borrowed N457.17 billion to pay salaries to their respective state civil services. This significant financial move was facilitated through the Salary Bailout…

Netflix has communicated an update to its pricing structure for Nigerian customers. Effective April 2024, the streaming giant’s Standard Plan will see an increase from the current rate of 3,600 Naira to 4,000 Naira. This…

Local currency trades at discount on street market  Naira may be on track to regaining N1,300/$ as the dumping of hard currencies warehoused by speculators turns the foreign exchange (FX) into a buyer’s market. The…

The countdown has begun to the 7th edition of the most anticipated culinary festival in Africa and Guaranty Trust Holding…

Air Peace’s maiden flight to London slated for March 30, 2024 is already fully booked by Nigerians who have since sought cheaper tickets. Nigeria’s largest carrier had pegged its economy class ticket at N1.2 million,…

Mele Kyari, group chief executive officer (GCEO) of the Nigerian National Petroleum Company (NNPC) Limited, says the public listing of the company is in sight. He spoke on Tuesday during the CeraWeek Conference in…

The Central Bank of Nigeria (CBN) says it has cleared all valid foreign exchange backlogs. This was disclosed by the Bank’s Acting Director, Corporate Communications, Mrs. Hakama Sidi Ali, in Abuja, on Wednesday night.…