Business

One of the major crises rocking the electricity sub-sector may remain for long due to inadequate metering of customers. Indeed, despite the two per cent change in the…

Oil prices surged on Wednesday as tension escalated in the Middle East after hundreds were killed in a blast at a Gaza hospital, sparking concerns about potential oil supply disruptions from the region. Brent crude…

The exchange rate between the naira and dollar devalued to N848/$1 on the official investor and exporter window on October 17th, 2023. It also traded at a record at an intra-day high of N981/$1. This is according to…

The Central Bank of Nigeria (CBN) on Tuesday said it would, from November 1, 2023 begin to sanction banks over rejection of ‘Magnetic Ink Character Recognition line’ (MICR Line), which it called MICR reject, in cheque…

The high cost of energy is forcing data centres in Nigeria to consider increasing the price of their services – a development that would impact…

Nigeria’s embattled naira is set for a lift after lawmakers approved plans by the government to seek a $1.5 billion loan from the World Bank.…

The supply of US Dollars increased at the foreign exchange (forex) market as liquidity at the investors and exporters window increased to $407.7 million following the…

Indications have emerged that the robust system liquidity drove high demand at the Nigeria Treasury Bills (NTB) auction held last week, with total subscriptions at N321.13 billion against N36.56 billion offered,…

Kingsley Moghalu, the former Deputy Governor of the Central Bank of Nigeria (CBN) and one-time presidential candidate, has strongly criticised recent financial decisions made by the Nigerian government. His condemnation…

The International Monetary Fund has said the naira is currently under pressure and Nigeria is free to seek loan from the Fund to stabilise the currency if it considers a good option. The Washington-based lender however noted that recent…

The Chartered Institute of Bankers (CIBN) has unveiled agency banking certification for point of sales (POS) agents, NIN/BVN agents, agent network managers, customer service officers, and agent banking personnel in banks…

Telecommunications operators have not foreclosed legal action in compelling Deposit Money Banks (DMBs) to pay the lingering N120 billion Unstructured Supplementary…

Nigerian importers are troubled by escalating duty costs, following the country’s floating of its foreign exchange rate. They said import duty…

Wale Tinubu, Nigerian oil billionaire and nephew of Nigerian President Bola Ahmed Tinubu, has witnessed a substantial decline in the market value of his stake in Oando Plc, one…

Tony Elumelu, Nigerian business magnate and chairman of the United Bank for Africa (UBA), has witnessed a remarkable surge in his stake over the past month, driven by…

Nigeria recorded a significant drop in dollar supply on Friday, a day after the Central Bank of Nigeria lifted the forex ban on 43 items. The apex bank in a…

The International Monetary Fund (IMF) has commended the Central Bank of Nigeria’s decision to remove restrictions on 43 items previously restricted from accessing foreign…

Wale Edun, Minister of Finance and Coordinating Minister for the Economy on Saturday confirmed ongoing talks with the World Bank for a $1.5 billion concessionary loan to support budget funding, and signaled that the…

•Naira depreciates further, stocks appreciate•Expert applauds CBN’s decision There were contrary trends in the financial market yesterday, just a day after a major policy change by the Central Bank of Nigeria, CBN,…

In a remarkable U-turn, the Central Bank of Nigeria (CBN) has attributed the widening disparity between official and black market exchange rates to the 43 banned items implemented in 2015. The CBN conveyed this…

The pressure on the foreign exchange (FX) market continued on Friday morning as the naira fell to N1,049 to the dollar on the parallel market, popularly known as the black market. This comes a day after the Central Bank…

President Bola Ahmed Tinubu has performed a groundbreaking ceremony to initiate the construction of a “$250 million lithium factory in Nasarawa State.” “The mega factory when completed would process 18,000 metric tons…

The Central Bank of Nigeria (CBN) has given the green light to importers of 43 items prohibited from accessing foreign exchange in the official market eight years ago. This move will help the naira to be come stronger on…

Nigeria’s rig count, an index of measuring upstream activities in the oil and gas industry, rose, Year-on-Year, YoY, by 61.1 per cent to 29 in September 2023, from 18, recorded in the corresponding period of 2019, due…