Business

Nova Merchant Bank Limited has asked a Federal High Court in Lagos to place a lien on the assets of Midwestern Oil and Gas Company Limited with the Central Securities Clearing System…

Fresh crises are brewing over Shell’s planned exit from the onshore segment of Nigeria’s oil and gas industry while Nigerian firms scout $4.5 billion to buy out the…

Coronation Insurance Plc is set to delist from the capital market as its Board of Directors has agreed to pay off the company’s minority…

The federal government is in talks with the World Bank for a $1.5 billion loan to support the budget and also provide liquidity in the forex market. The Minister of Finance and Coordinating Minister of the Economy, Wale…

Naira on Wednesday fell to a record low of N1,320 per dollar following strong demand on the parallel market, also known as the black market.  This represents 3.03% or N40.00 weaker than N1,280 recorded at the close of…

Equity investors in the stocks of companies under the Dangote Group have gained over 1.2tn during the first two trading sessions of this week. This marked increased appetite in the stocks of the companies listed on the…

Forex turnover rises by 460.52% to $147.81 as the Nigerian naira tumbled against the dollar on Tuesday, January 16th, 2024, in both the official and black markets.    The domestic currency depreciated 4.72% to close at…

When donald trump left office three years ago, still huffing, puffing and plotting to overturn the results of the 2020 presidential election, the leaders of most of America’s biggest corporations were only too happy…

Fitch Ratings has placed Union Bank of Nigeria Plc’s (UBN) Issuer Default Ratings (IDRs), Viability Rating (VR) and National Ratings on Rating Watch Negative (RWN). The RWN follows the Central Bank of Nigeria’s (CBN)…

Following announcement that the Dangote refinery had commenced production, investors have rushed to Nigerian Exchange to purchase stocks by Dangote Group which saw an appreciation of N514 billion. Subsequently, three…

Shell Plc has reached an agreement to sell its Nigerian onshore oil assets to a local consortium for over $1.3 billion, pending government approval. Shell’s Integrated Gas and Upstream Director, Zoe Yujnovich, confirmed…

In line with its mission of empowering businesses and young innovators across Africa, HabariPay's Squad has announced the launch of its first-ever…

Adebayo Ogunlesi, co-founder of Global Infrastructure Partners, credits his wife Amelia for a career switch that led on Friday to a $12.5bn deal…

Patrice Motsepe, Africa’s first black billionaire and one of South Africa’s richest men, has experienced a notable financial upturn, witnessing a $400 million increase in wealth over the past month.   According to recent…

The seven major oil marketers in Nigeria have registered with the Dangote Petroleum Refinery for the lifting and distribution of refined petroleum products produced by the $20bn plant. Dealers under the aegis of the…

Adebayo Ogunlesi, the Chairman and CEO of Global Infrastructure Partners, has seen a significant boost in his net worth to $2.3 billion following the recent acquisition of his firm by American institutional investment…

                    The Central Bank of Nigeria (CBN) has set off a wave of uncertainty among its staff with the sudden announcement of a head office decongestion plan affecting 1,533 employees. The move,…

THE Dangote Petroleum Refinery has sought the approval of the Federal Government to hit the domestic market with diesel and aviation fuel. The approval is expected from the Nigerian Midstream and Downstream Petroleum…

Is china about to unleash another wave of deindustrialisation on the rich world? About 1m American manufacturing workers lost their jobs to Chinese competition in 1997-2011, as…

Last year, startups across Africa raised a total of $2.9 billion in 2023, which was a 39 per cent year-on-year drop in funding.…

Foreign airlines in Nigeria are threatening to strike unless the government allows them to repatriate their earnings trapped in the West African nation that’s been grappling with an acute dollar shortage. The Association of…

United Bank for Africa Plc (UBA) and the African Export-Import Bank (Afreximbank) have announced an initial disbursement of $2.25 billion under a…

There is growing disquiet within the Central Bank of Nigeria (CBN) following revelations of plans by the new management to relocate major departments from the Abuja headquarters to the former headquarters in Lagos. The…

The giant 650,000 barrels a day Dangote Petroleum Refinery commenced production of diesel and aviation fuel on Friday bringing hope of an early end to the wasteful importation of fuel which has characterized Nigeria’s…