Browsing Category
Business
Court rejects Ecobank’s request to restrain NSA from arresting staff over N319.8 million…
The Federal High Court in Abuja has dismissed a suit filed by Ecobank Nigeria Limited, which requested a restraining order against the National Security Adviser’s alleged threat to use law enforcement…
BDCs accuse IMTOs of ambushing external remittances, creating dollar scarcity in the parallel market
Bureau De Change (BDC) operators in Nigeria have attributed the recent depreciation of the Naira in the parallel…
Crude-for-loans: NNPCL votes 8million barrels monthly for $8.8bn debt – Report
•Firm repays $2.61bn, owes $6.25bn as Nigeria loses 264m crude barrels to theft, others The Nigerian National Petroleum Company Limited has pledged 272,500 barrels per day of crude oil through a series of…
Three days after deadline, naira-for-crude deal yet to begin
There are indications that the supply of crude oil in naira by the Nigerian National Petroleum Company Limited to the Dangote Petroleum Refinery which should have started on October 1, 2024, has yet to begin as…
Chowdeck records over N30 billion worth of deliveries in 2024
Chowdeck, Nigeria’s fast-growing food delivery platform, has surpassed N30 billion in total deliveries for 2024, according to…
Access Holdings completes merger with ARM Pensions, increases assets to N3 trillion
Access Holdings has announced the completion of its merger with ARM Pensions Managers Limited (ARM), creating Access ARM Pensions Limited (AAPL). This development positions AAPL among Nigeria’s largest pension…
Zenith Bank Assures Customers on Seamless Transactions, Apologizes for Disruptions During…
Nigeria's leading financial institution, Zenith Bank, has reassured its customers of improved services following recent infrastructure upgrades.…
Nigeria’s crypto dealings hit $59 Billion between July 2023 and June 2024
Nigeria has become a global leader in crypto adoption. According to the Chainalysis Global Adoption Index, the West African nation ranked second overall, trading roughly $59 billion in cryptocurrency value between…
Banks’ deposits rise 16.5% amidst gloomy economy
Despite the economic hardship being experienced by majority of Nigerians, banks’ vaults are bustling with customer deposits. The latest report of the Central Bank of Nigeria, CBN, on money and credit situation in the…
Global rice price declines to its lowest since 2008 as India eases export restrictions
The global price of rice has dropped to its lowest level in 16 years, reaching figures last seen in 2008, according to data from the Thai Rice…
Police Fraud Unit arrests four journalists over alleged cyberstalking, attempted extortion of GTB
The Police Special Fraud Unit, Milverton, Ikoyi, Lagos State has arrested and arraigned four online…
Gilead partners generic drug manufacturers to provide HIV prevention drug in Nigeria, others
Gilead Sciences Inc. has announced a new licensing deal to provide its twice-yearly experimental HIV prevention drug, lenacapavir, to six generic drug manufacturers to produce affordable versions of the drug…
Stanbic IBTC Holdings appoints Kunle Adedeji as Acting Chief Executive
The Board of Directors of Stanbic IBTC Holdings has announced the appointment of Dr. Kunle Adedeji as Acting Chief Executive Officer, following regulatory approval. This announcement was made in a press release…
US SEC charges Nigerian auditor for role in Mmobuosi/Tingo ‘fraud scheme’
The United States (US) Securities and Exchange Commission (SEC) has charged Olayinka Oyebola, a Nigerian auditor, for allegedly aiding and…
FG removes VAT on diesel, CNG, electric vehicles, others to crash prices
The Federal Government has announced value added tax (VAT) exemptions for various energy products, including diesel, Liquefied Natural Gas (LNG), Compressed…
Petrol import in Nigeria drops by 3.58 billion litres after ‘subsidy removal’
Nigeria has recorded a reduction in petrol importation following the ‘removal of fuel subsidy’ by President Bola Tinubu in May 2023. According to the latest…
CBN Says Currency In Circulation Now N4.1trillion With Only 6% In Banks
Data from the Central Bank of Nigeria (CBN) has shown that the currency in circulation has reached an all-time high of N4.1trillion as of August 2024. The report also revealed that currency outside the banks grew…
PenCom Okays ARM, Access PFAs Merger
•At N2.22tn, new entity may hold industry’s largest asset base The National Pension Commission (PenCom), yesterday announced that it has granted approval for the merger between ARM Pension Managers…
Oando Emerges First Nigerian IOC, Valuation Hits $4 Billion
With its operations outside the shores of Nigeria, around the Sao Tome and Principe Exclusive Economic Zone (EEZ), Oando Plc has now attained the status of Nigeria’s first indigenous International Oil Company (IOC).…
Baysbet to provide jobs, reward Nigerians for sports passion
Baysbet has promised to create employment opportunities and reward Nigerians for their passion for sports. The…
Withholding tax exemptions have been gazetted….. to be published today – Taiwo Oyedele
Taiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms, says withholding tax exemptions have been gazetted. A…
Shell appoints Ronald Adams as Managing Director for SNEPCo
Shell Plc has appointed Mr. Ronald Adams as the new Managing Director of its deep-water subsidiary in Nigeria, Shell Nigeria Exploration and Production Company Limited (SNEPCo). Gladys Afam-Anadu, Media Relations…
Starlink increases monthly subscription in Nigeria by 97%, kits now N590,000
Elon Musk’s internet service company, Starlink, has increased the monthly subscription for its service in Nigeria by 97% from N38,000 to N75,000. For new…
KPMG announces appointment of six Nigerians among nine new partners in West Africa
Klynveld Peat Marwick Goerdeler (KPMG) has announced the appointment of nine new partners to its firms in West Africa, with six of the appointees being Nigerians. The announcement was made via a post on the…