Business

Investors will be hoping to get higher interest rates when Nigeria attempts to sell N2.5 trillion worth of seven and 10-year naira-denominated bonds today. That’s the highest amount the government has attempted to…

The naira has depreciated against the US dollar by 69.47 percent under the current administration led by President Bola Ahmed Tinubu amid the implementation of foreign exchange reforms. Data collated from the FMDQ…

Chairman of BUA Group, Abdul Samad Rabiu, says the company has approved a 50 per cent salary increment for staff across board. Mr Rabiu made the disclosure in an internal…

The Nigerian Electricity Regulatory Commission (NERC) is considering increasing the price of prepaid meters once again. This consideration comes in response to the escalating production costs faced by meter manufacturers,…

This year, First City Monument Bank (FCMB) celebrated Valentine's Day with a unique expression of love, reaching out to hundreds of visually impaired students and adults at two…

Nigerian Breweries Plc has recorded a net loss of N106 billion for the year ended 2023, as against N13.93 billion posted in its 2022 financials, indicating 860 per cent loss. Company Secretary, Nigerian Breweries, Uaboi…

Nigeria witnessed a significant uptick in capital inflows, marking a 66.27% surge when juxtaposed with figures from the third quarter of 2023. The numbers rose from a previous $654.65 million in Q3 2023 to $1.09…

MANY ports in Nigeria are currently deserted due to the Forex crisis which has made importation business very expensive, findings by  Saturday…

The exchange rate between the naira and the dollar has depreciated to an all-time low, reaching N1,537.96/$1 at the official market. This decline has occurred despite various policies implemented by the Central Bank aimed…

The Nigerian naira witnessed a notable decline in both the official and parallel foreign exchange markets, raising fresh concerns about the country’s economic stability and highlighting persistent challenges in its forex…

The Federal government has said it cannot fold its arms and see the price of cement spiralled out of control. The Minister of Works, David Umahi has summoned cement manufacturers to a meeting on Monday to examine the…

Cement price in Abuja, the Federal Capital Territory, of a 50-kg bag of cement now costs between N10,000 and N15,000. A market survey conducted by DAILY POST on Friday in Gwarimpa, Area 10, Kubwa, Lugbe, and Dawaki…

Mr. ‘Deremi Atanda, REMITA’s Managing Director and Chief Executive Officer, has revealed that the platform facilitated the generation of N34.311 trillion in revenue for the Federation Account between 2015 and 2022. His…

Nigeria’s Central Bank revised the International Money Transfer Services Guidelines in January 2024. The fundamental changes include improving the Government’s reforms to increase transparency in foreign exchange market…

The bullish sentiment persisted on Thursday at the Nigerian Exchange Ltd. (NGX) equity market, with the market indices rising by 0.58 per cent. Investors gained N329 billion or 0.58 per cent, as the market…

Businesses in Nigeria are grappling with severe challenges as inflation and economic difficulties take a toll on their operations, according to Daily Trust. Abubakar Adamu, a fruit seller in Abuja, highlighted the impact…

President Bola Tinubu has raised concerns over what he labels a “cacophony of postulations” from different directions on the nation’s foreign exchange, adding that it only contributes negatively to the market.   The…

The activities of governments after the disbursement of money by the Federation Account Allocation Committee (FAAC) contributed to the…

• Actual pump price hits N1,202.7/litre• Over 90 licensed marketers abandon petrol import as deregulation flops• Truck drivers may suspend operations as diesel rises to N1,400/litre• Price control unsettles Dangote,…

The price of a 50kg bag of cement has soared to around N9500 in many retail outlets in Lagos further exacerbating the effects of inflation in the country.   Checks by Nairametrics in many retail shops in Lagos reveals…

The House of Representatives has resolved to stop sports betting in the country and urged the National Lottery Regulatory Commission (NLRC) to comply with the Lottery Regulatory Commission Act, 2005. The resolution…

The Central Bank of Nigeria has directed International Oil Companies operating in the country to fund their offshore accounts in two phases. The apex bank disclosed this in a circular dated February 14, 2024, and…

Fidelity Bank Plc has announced its Board of Directors’ decision to extend the employment contract of its GMD/CEO, Nneka Onyeali-Ikpe, from 2024 to 2026. The decision was taken at the board’s meeting on February 12,…

The Central Bank of Nigeria (CBN) has announced a significant policy change, directing all authorised dealer banks to cease the payout of Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) in cash.…