Business

The President/Chief Executive of Dangote Industries Limited, Aliko Dangote, has said that his friend and billionaire businessman, Femi Otedola, is welcome to attempt a corporate takeover of Dangote Cement. Dangote…

Foreign exchange expenses eroded the operating profit of Guinness Nigeria Plc for the year ended December 2023, resulting in N5.233bn loss. This was…

In Yaba Market, hustlers are often relentless, as they earn their livelihood by convincing a shopper to go with them into a shop…

The Central Bank of Nigeria (CBN) is likely to gradually clear its huge foreign currency obligations with funds obtained from the recent Federal Government of Nigeria and the Nigerian National Petroleum Company Limited…

Nigeria’s currency fell to a record low of N1,416 per dollar at the parallel market following strong demand amid shortage as traders hoard the available dollars. This indicated a 15.19 percent depreciation…

The combined wealth of Aliko Dangote, Abdulsamad Rabiu and Mike Adenuga has increased by $15.5 billion so far this year, according to Forbes’ Real-Time Billionaires…

Naira on Thursday fell to a record low of N1,410 per dollar following strong demand on the parallel market, also known as the black market. This represents 3.29% or N45.00 weaker than N1,365 recorded at the close of…

The Arewa Youth Ambassadors (AYA), a coalition of Youth groups in the 19 Northern states has weighed in on supply of crude oil to Dangote Petroleum Refinery (DPR). At a press briefing Wednesday in Abuja, the group’s…

The Nigeria Deposit Insurance Corporation (NDIC) and the Federal Inland Revenue Service (FIRS) are planning to spend a combined sum of N8.7 billion on software alone this year. This spending is captured in the…

The Nigeria National Petroleum Corporation Limited and the Ministry of Finance have agreed to remit all their dollar revenues to the Central Bank of…

Foreign investors’ patience with Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), is wearing thin over his reluctance to discontinue the apex bank’s punitive bank rules and raise market interest…

Governor of the Central Bank, Mr. Yemi Cardoso has stated that the naira is overvalued promising that in 2024, the bank will work towards real price discovery in the foreign exchange market. Mr. Cardoso stated this while delivering the…

Opay, a Nigerian financial technology firm, says fraudulent accounts will be removed from its system from March 1, 2024. At a news conference on Wednesday, the mobile money firm said customers whose accounts are…

The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National…

The Nigerian naira, on Tuesday, continued its downward spiral, dropping to N1,365 per dollar at the parallel section of the market. The figure represents a N35 or 2.63 percent depreciation compared to the…

World Wrestling Entertainment (WWE) has inked a historic 10-year deal with Netflix, marking a seismic shift in its three-decade history. Starting January 2025, the flagship weekly live pro wrestling show, “Raw,”…

The pressure on foreign exchange (FX) is expected to ease soon and a stronger naira is anticipated as the Economic and Financial Crimes Commission (EFCC) and the Association of Bureaux De Change Operators of Nigeria…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has rejected the planned sale of Shell onshore assets, claiming the group being speculated to buy up the assets is unknown to it. According…

More than two years after the ban on AbokiFX for publishing parallel market exchange rates online, efforts are underway to authorize the Association of Bureau De Change Operators of Nigeria (ABCON) to publicly…

Refined petroleum products from the $20bn Dangote Petroleum Refinery are to be sold in naira and not in the United States dollar as speculated in some quarters, oil marketers clarified on Monday. Dealers in…

In a landmark judgment delivered by Justice J.K. Omotosho of the Federal High Court sitting in Abuja, the Central Bank of Nigeria (CBN)…

Banks may be expected to boost their capital base between N181.85 billion for a regional banking license and N909.27 billion for an international banking license. This is according to the Banking Sector FY 2024…

Dangote Cement Plc shares gained 9.99%today to close with a share price of N592.60, thus reaching a market cap of N10.095 trillion, becoming the first Nigerian company to hit the historic milestone.   In 2024, Dangote…

The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has said the agency created 15,000 jobs and facilitated N7 billion funding for SMEs in the first 100 days of its Director General, Charles Odii,…