Business

The Central Bank of Nigeria on Friday revoked the licences of 4,173 Bureau De Change operators over their failure to meet regulatory guidelines. The apex bank disclosed this in a statement by its acting Director,…

Amid the ongoing issues faced by Binance in Nigeria, it is pertinent to note that the cryptocurrency firm has also been banned in several other countries. Binance, founded in 2017 by Changpeng Zhao, is currently…

The Central Bank of Nigeria (CBN) has revoked the operational licenses of more than 4,000 Bureau De Change (BDC) operators registered under its oversight. The apex bank indicated that the revocation was due to the…

Nigeria’s large and growing population is impossible for business to ignore and a recent exodus from the West African state won’t last, South African billionaire Christo Wiese said in an interview on Bloomberg TV. “How do…

Passengers and travel agents are now heaving a sigh of relief as foreign airlines operating into the country have released low-inventory tickets, Daily Trust’s findings have shown. This was made possible through the…

Binance Holdings Ltd said on Friday that it was not in any talks with the Nigerian government about potentially paying up to $10 billion in fines, contradicting a government spokesman’s statement to the BBC hours…

MTN Nigeria recently released its 2023 FY results, reporting its first-ever loss of N177.8 billion, which resulted in a wipe-out of shareholders’ funds. The company attributed the losses to forex losses, stating that it…

The Federal Government has slammed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis. The special adviser to President Bola Tinubu on information and…

Dangote Cement Plc reported a profit after tax of N455.58 billion for the financial year ended December 2023, representing a 19.7% increase year-on-year.  The year-on-year growth in profits, despite growth in interest…

The Office of the National Security Adviser(ONSA) on Thursday confirmed that the crypto exchange platform, Binance, is being investigated by Nigerian authorities. In its first official confirmation of the…

MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion a year earlier. The losses resulted in a wipe-out of shareholders’ funds.  The company attributed the…

President Bola Ahmed Tinubu has directed cement companies to go back to the status quo as regards to the price of the commodity. Minister of Works, Senator David Umahi, revealed this to newsmen shortly after inspecting…

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso has stated that the remainder of the bank’s FX backlogs will be cleared in the next few days- most likely in a week and a half.   The bank’s chief…

Peter Obi, the presidential candidate for the Labour Party in the last general election, has expressed concern that raising the Monetary…

Dara Khosrowshahi, the chief executive officer of Uber, has been awarded options to purchase stock valued at approximately $136 million after successfully achieving a performance target aimed at securing a $120 billion…

Binance, a widely used crypt exchange with over 170 million users worldwide disabled its peer-to-peer feature for Nigerian users. Known as the P2P market, the network lets users, buyers, and sellers transact…

The Nigerian government has detained two executives of the Binance crypto exchange platform amid efforts to stabilise the nation’s foreign exchange market and salvage the value of the local currency. Sources familiar…

The Minister of Information and National Orientation, Mohammed Idris, on Wednesday, said the importation of Premium Motor Spirit, popularly called petrol, into Nigeria has reduced by 50 per cent since the withdrawal of…

The Presidency said cryptocurrency trading website Binance will destroy the Nigerian economy if not stopped. Special Adviser to President Tinubu on Information and Strategy Bayo Onanuga stated this in an interview on…

Two senior executives at Binance have been detained in Nigeria. According to Financial Times (FT), a UK-based business news outlet, the passports of the unnamed Binance executives were seized. FT gathered that the…

MTN Nigeria’s customers are currently experiencing difficulty in making calls and using their data as the company faces a prolonged downtime on its network. The telecom operator has, however, blamed the network on…

The Association of Pure Water Producers has expressed concerns over the skyrocketing prices of pure water sachets, warning that the cost may surge to N100 if urgent measures are not taken.  According to the association,…

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the naira is undervalued largely due to distortions by perpetrators in the foreign exchange (FX) market. He spoke on Tuesday after heading his first…

Yemi Kale has assumed the position of Group Chief Economist & Managing Director of Research and International Cooperation at the African Export-Import Bank (Afreximbank).  Dr Kale was a former…