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Business
NAHCO posts N18.7bn profit
The Nigerian Aviation Handling Company has posted its strongest financial performance yet, doubling its pre-tax profit to N18.70bn and growing revenue by 88.5 per cent to N53.54bn in 2024, according to its newly…
Tariffs: Nigeria may deepen trade relations with China, EU, BRICS — Fund Managers
According to Johnson Chukwu-led fund managers at Cory Assets Management Limited, Nigeria may strengthen trade ties with China, the European Union, and the BRICS nations (Brazil, Russia, India, China, and South Africa) to…
Explainer. How banks defied odds to make record profits in 2024
The ultimate paradox is unravelling in Nigeria as banks declare record profits at a time when several businesses are reporting…
CBN opens dollar tap as Trump tariffs test naira
The Central Bank of Nigeria (CBN) sold dollars on the official market Friday as it stepped in to bolster liquidity after the…
Trump’s tariffs: Nigeria in consultation with US, WTO — FG
The Federal Government has disclosed that it is consulting with the United States and the World Trade Organisation (WTO) to evolve a mutually beneficial solutions to the 14 percent tariff imposed on Nigerian export…
S&P 500 Loses $5 Trillion in Two Days on Trump’s Tariff Selloff
*Morgan Stanley predicts 60% chance of global recession by year end Global stock markets extended their recent rout at the weekend, with S&P 500…
CBN injects $197.71 million into FX market to boost liquidity and stability
The Central Bank of Nigeria (CBN) has injected $197.71 million into the foreign exchange (FX) market on Friday, April 4, 2025, as part of its ongoing commitment to ensuring adequate liquidity and maintaining…
TotalEnergies reports 140.35% surge in full-year profit as revenue surpasses N1 trillion, recommends…
TotalEnergies Marketing Nigeria Plc has published its audited financial report for the period ended 31 December 2024, reporting a pre-tax profit of N42.2 billion. This represents a 140.35% increase compared to the…
Inside Trump’s defiant response to the markets’ tariff meltdown
President Donald Trump’s sweeping new tariffs are facing blowback from all corners – a market sell-off, foreign retaliation, anger from…
NNPC announces new management team as Ojulari takes over from Kyari
The new Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPC Ltd) has officially taken over the reins of the…
WTO Director-General Okonjo-Iweala warns Trump over new tariffs
The Director-General of the World Trade Organization, WTO, Dr Ngozi Okonjo-Iweala, has stated that the organisation is “monitoring and analysing” the tariffs announced by US President Donald Trump on 2 April. In a…
Tinubu appoints Ayo Sotinrin as MD of Bank of Agriculture
President Bola Tinubu has appointed Mr. Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately.Mr. Sotinrin brings a diverse…
FCMB Group Reports N111.9 billion in Profit Before Tax for 2024
FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the full year ended December 31, 2024, reporting a profit…
Bitcoin drops to $82,000 after Trump’s tariff announcement
Bitcoin experienced sharp fluctuations following President Donald Trump’s April 2 tariff announcement, initially surging to $88,000 before dropping to $82,000. By April 3, it stabilized around $83,000, with the broader…
China to impose additional 34% tariffs on US goods from April 10
China said on Friday it would slap 34 percent tariffs on all imports of US goods from April 10 after Washington imposed steep new levies on Chinese products. “For all imported goods originating from the US, an…
Brent Crude down by $10 a Barrel, Worst day since 2022
Brent Oil Futures dropped approximately $10 a barrel since Thursday. The implementation of new tariffs and a surprise OPEC+ supply increase have negatively impacted the market. Oil prices sank dramatically as…
Dollar, US stock markets tumble after Trump’s tariffs announcement
American stock markets, on Thursday, tumbled significantly as investors react to President Donald Trump’s sweeping tariffs announcement. According to Reuters, the S&P 500, the stock market index tracking the…
Rivers foreign scholars allege community’s neglect by Oando
Some natives of Omoku in the Ogba/Egbema/Ndoni Local Government Area of Rivers State, who are currently studying abroad, have called on President Bola Tinubu to intervene in the alleged neglect of their community by…
Tariff dispute: Macron calls for suspension of French investment in US
French President Emmanuel Macron on Thursday urged a halt to new investments in the United States until the clarity surrounding President Donald Trump’s new tariffs is provided, AFP reported. The call came after the…
Canada retaliates with 25% tariff on some US auto imports
Canada said it would impose a 25 per cent tariff on some autos imported from the United States, retaliating against President Donald Trump’s levies that came into effect on Thursday. Prime Minister Mark Carney…
AMAC asks business owner to pay N200k for ’emission levy’
The Abuja Municipal Area Council (AMAC) has asked an entrepreneur to pay N200,000 for “gaseous emission”. The notice said the demand was in line with the…
‘We’ve No Reason To Steal Your Data’ – MTN Replies Customers
The Chief Executive Officer of MTN Ghana, Stephen Blewett, has dismissed accusations that the telecom operator steals customer data, a…
Trump tariffs imposed on uninhabited islands where just penguins live
Donald Trump has been mocked by his critics after his sweeping global tariffs even included islands where no one lives. The Trump administration’s list of places to be hit by the tough “reciprocal” measures include…
CBN denies introducing N5,000, N10,000 banknotes
The Central Bank of Nigeria dismissed a report claiming it had introduced N5,000 and N10,000 banknotes to facilitate cash transactions as false. In a statement posted on its official X handle on Wednesday, the…