Business

The Chairman of BUA Foods Plc, Abdul Samad Rabiu, has attributed the rising cost of foodstuffs in Nigeria to the greed of distributors and…

The landing cost of Premium Motor Spirit, popularly called petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol landing cost,…

The federal government is proposing the collection of charges, fines and others, by the Nigerian Maritime Administration and Safety Agency (NIMASA) and the Nigerian…

The House of Representatives has asked the federal government to prevail on the Nigerian National Petroleum Corporation Limited(NNPCL) and the Dangote Refinery to allow independent petroleum marketers in the country…

Aliko Dangote, Africa’s richest man, is reportedly seeking to emulate the business strategy of Indian tycoon Mukesh Ambani by reinvesting the profits from his recently commissioned refinery into other sectors. Dangote’s…

The Board of Directors of Stanbic IBTC Holdings PLC has announced the appointment of Mrs. Olusola David-Borha as Chairman of the company’s board with effect from September 26th, 2024.   In a statement signed by the…

Femi Otedola, the chairman of First Bank of Nigeria (FBN) Holdings and majority shareholder, has increased his stake in the financial company to…

Nigerians now pay N246,000 on average to travel by flight, a fresh report by the National Bureau of Statistics (NBS) has shown. The report titled…

The Corporate Accountability and Public Participation Africa (CAPPA) says Coca-Cola’s promise of a $1 billion investment in Nigeria is a hollow…

The Federal Government on Wednesday exonerated itself from the petrol pump price squabble between the Nigeria National Petroleum Company Limited (NNPCL) and private refinery, Dangote Refinery. The government said both…

The Central Bank of Nigeria (CBN) has approved another sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,590 per dollar to meet the demand for invisible transactions. CBN announced the…

…Awarded: • SME Financier of the Year (Africa) • Platinum Award for Best Financier for Women Entrepreneurs (Africa) Wema Bank, Nigeria’s foremost innovative bank and…

The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that Nigerians spent a total of N89.5 trillion over electronic channels in July 2024. According to the latest e-payment data, the July record came as…

Stakeholders have reacted to the decisions of the MPC raised concerns over the 27.25 per cent increase in benchmark interest rate.…

The Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts in Nigeria rose to 231.1 million in July 2024. Previous NIBSS data showed that active bank accounts in the…

The Central Bank of Nigeria (CBN) has announced that it will sanction banks failing to dispense cash through their automated teller machine (ATMs), as part of efforts to ensure sufficient cash in circulation. CBN…

The Central Bank of Nigeria (CBN) has projected that the lifting of refined petroleum products from the Dangote Refinery will lower transportation costs, curb inflation, and strengthen the country’s foreign reserves.…

Nigeria’s Central Bank stunned the global financial community on Tuesday when its Monetary Policy Committee (MPC) voted unanimously to raise the Monetary Policy Rate (MPR) by 50 basis points, bringing it to 27.25%. In…

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the multiple interest rate hikes have restored confidence in the naira.…

Nigeria’s external reserves have increased yet again, reaching $39.07 billion as of September 19, 2024. This is according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, at a press briefing at the…

The Central Bank of Nigeria (CBN) has alluded that there is a correlation between monthly disbursement from the Federation Account Allocation Committee (FAAC) and liquidity in the banking system stating that it impacts…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has clarified the reasons independent marketers are unable to purchase petrol directly from Dangote Refinery. The association’s…

The Central Bank of Nigeria (CBN) Monetary Policy Committee has decided to further raise interest rate by 50 basis points to 27.25%.   The Governor of the CBN who doubles as the Chairman of the MPC disclosed this at the end…

•Reveals he has two oil blocks, but won’t invest heavily in upstream segment •NNPC has pledged to give us 390,000 bpd in October, says Africa’s richest…