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BREAKING: CBN reports N38.8 billion profit in 2024, recovers from record N1.15 trillion loss in 2023
The Central Bank of Nigeria (CBN) has released its 2024 audited financial statements, reporting a profit after tax of N38.8 billion, a rebound from the N1.15 trillion loss recorded in the 2023 financial year.…
Nigeria’s GDP per capita falls to $824, worse than 1960 levels – AfDB President Adesina
The President of the African Development Bank (AfDB), Dr Akinwumi Adesina, has warned that Nigeria is facing a deeper economic regression than many realise, stating that with a current GDP per capita of just $824,…
GTCO SUSTAINS PROFITABILITY MOMENTUM WITH GROWTH IN CORE INCOME – DECLARES A PBT OF…
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate…
We can’t guarantee full recovery of over N1.3trn CBEX fund – EFCC
The Economic and Financial Crimes Commission (EFCC) has disclosed that full recovery of funds lost to the…
Nigeria’s bond demand declines amid rate hike worries
The Debt Management Office (DMO) faced less investor enthusiasm at the April bond auction as the market remained cautious over a…
Rising pepper demand opens opportunity for growers
The growing global demand for ‘chilli’ and habanero peppers, combined with a supply shortage, has created an opportunity for investors…
Telcos to pour N1.6tn into network as glitches mount
Telecommunication operators are set to invest N1.59 trillion ($1 billion) in network expansion in 2025 as they look to strengthen their capabilities to halt…
Petrol landing cost now N870, higher than Dangote’s price
The landing cost of Premium Motor Spirit (petrol) has now averaged N870 per litre, reports by the Major Energies Marketers Association of Nigeria have shown.
This is even as the price offered by the Dangote…
CBEX resumes operations despite SEC ban, N1.2tn EFCC probe
Despite the alleged N1.2tn digital trading fraud that reportedly affected over 600,000 Nigerians, the embattled Crypto Bridge Exchange trading platform, accused of these acts, has resumed operations, announcing fresh…
Nestle posts N295 billion in revenues, best quarter ever
Nestle Nigeria Plc has continued its recovery path, reporting a pre-tax profit of N51.15 billion in Q1 2025, marking a strong rebound from the N196.086 billion loss posted in the same period of 2024.
This follows a…
CBN sells another N804.85 billion in OMO bills hit 111% subscription
The Central Bank of Nigeria (CBN) raised a total of N804.85 billion at its Open Market Operations (OMO) auction held on Monday, April 29, 2025, as investors continue to show a strong appetite for high-yield securities amid…
Courts jail convicted fraudster for over N1 billion investment fraud in Ibadan
Two separate Oyo State High Court sittings in Ibadan have convicted and sentenced Olaniyan Gbenga Amos to years in jail over a N1 billion investment fraud.
This is according to a statement by the Economic and Financial…
Elon Musk, Jeff Bezos, other billionaires lose $300 billion in Trump’s first 100 days
Tech titans Elon Musk, Jeff Bezos, and America’s wealthiest individuals have collectively lost more than $300 billion in the first 100 days of President Donald J. Trump’s second term.
This is according to a latest…
Naira maintains stability amid external reserves’ decline
The naira has maintained relative stability in the foreign exchange (FX) market despite the drop in external reserves.
Nigeria’s gross external reserves declined by eight percent year-to-date to $37.84 billion as of…
MTN declares profit of N133.7bn, first since 2023
MTN Nigeria Communications Plc has declared a profit after tax of N133.7 billion for the first quarter of 2025, its first since 2023. This signals a return to profitability for Nigeria’s largest telecom operator,…
FCMB Group Plc’s 12th AGM Affirms Dividend, Closes FY 2024 With ₦7.1 Trillion In Total Assets
FCMB Group Plc convened its 12th Annual General Meeting (AGM) in Lagos on April 29, 2025, where shareholders endorsed the Group’s 2024…
Dangote Sugar grows turnover by 51%, to provide 75,000 jobs
The chairman of Dangote Sugar Refinery Plc, Alikoa Dangote has revealed that the company’s…
Mele Kyari’s henchmen fired in major restructuring at NNPC
In a significant restructuring of its management, the Nigerian National Petroleum Company (NNPC) Ltd has terminated the services of a number of…
Tantalizers to raise N2.50bn via hybrid offer, eyes merger
Tantalizers Plc has secured shareholders’ approval to raise N2.5 billion through a hybrid offer and increase its share capital from N2.5 billion to N5 billion.
The resolutions were passed at the company’s extraordinary…
White House launches attack on Amazon over ‘hostile’ plan to display tariff cost on each…
The Trump administration took aggressive aim at Amazon today, after reports that the company would begin displaying the added cost of President Donald Trump’s tariffs on items. White House Press secretary Karoline…
NNPCL under fire as $897m Warri refinery revamp flops
Warri refinery shutdown drags on since January 25, P/Harcourt refinery struggles at under 40% production capacity
Industry operators and experts have questioned…
Naira Redesign: Court strikes out N1bn suit against Buhari, Emefiele
The Federal High Court in Abuja has struck out a N1 billion suit that was instituted against former President Muhammadu Buhari and the former Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, over…
Wanted CBEX promoter surrenders to EFCC
One of the suspected promoters of the cryptocurrency trading platform, Crypto Bridge Exchange (CBEX), Adefowora Abiodun, has voluntarily surrendered himself to the Economic and Financial Crimes Commission (EFCC) for…
52 New Dangote Petroleum Trainee Engineers complete training programme
…set for employee induction into the Refinery
A new batch of 52 trainee engineers have successfully completed their Dangote Petroleum Refinery Graduate Trainee Programme and are now…