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Business
Like McDonald’s, Burger King removes tomatoes from menu over rising prices
Following a significant price increase, Burger King says they have dropped tomatoes from their menu items at Indian stores. The fast food restaurant company claimed that “unpredictable conditions on the quality and…
CBN introduces FX price verification system portal for importers
The Central Bank of Nigeria (CBN) has introduced a foreign exchange (FX) price verification system (PVS) portal to enable importers to access…
Markets reverse as Tinubu reforms lose steam
Nigerian stocks and Eurobonds are now taking a breather from Bola Tinubu’s blistering start to life as President with signs emerging…
‘Barbie’ becomes Warner Bros.’ highest-grossing movie in North America
Greta Gerwig’s fantasy comedy “Barbie” has achieved another remarkable milestone, solidifying its position as Warner Bros.’ highest-grossing movie in North America to date. This impressive feat was accomplished…
Jaiz Bank Appoints Ahmed Hassan Acting MD/CEO
The Board of Jaiz Bank Plc, Nigeria’s pioneer Non-Interest Bank has approved the appointment of Ahmed Alhaji Hassan as the Ag. Managing Director and Chief… The Board of Jaiz Bank Plc, Nigeria’s pioneer Non-Interest Bank…
Manufacturing firms’ profitability down by 351% in H1 amid soaring OPEX
• Investors urge govt to grant moratorium to sector The harsh operating environment has triggered a…
Irish Potato Price Rising Despite Harvest
The price of potato is going high in Plateau where it is produced in large quantities. Potato sellers in the state told our correspondent that… The price of potato is going high in Plateau where it is produced in…
MTN Nigeria Proposes N100bn Commercial Paper Notes
MTN Nigeria has proposed the issuance of up to N100 billion series 6&7 commercial paper notes to diversify its financing options. This was disclosed via… MTN Nigeria has proposed the issuance of up to N100…
Tinubu disappoints bondholders by avoiding new fuel price hike
Nigeria’s international dollar-denominated bonds fell on Wednesday, after President Bola Tinubu’s spokesman said petrol prices did not need to rise more, and blamed foreign exchange shortages on “gross mismanagement”…
First Bank: Court adjourns suit as shareholders’ battle gets messier
A Federal High Court sitting in Lagos has adjourned till August 23 to hear various applications filed before it by different factions of Shareholders of First bank Holdings over the controlling shares of the bank. The bank…
5 things to know about Nigeria’s deal for a $3bn Afrexim Bank loan
It was announced late Wednesday that Nigeria and Afrexim bank had reached an understanding for an immediate support facility that will see Africa’s most populous nation receiving three billion dollars in new credit. It will…
Naira appreciates to N890/$ at parallel market
The naira, Nigeria’s legal tender, is currently trading at N890 per dollar at the parallel section of the foreign exchange (FX) market. The figure represents an…
Fresh pressure on Tinubu as illiquid power sector nears collapse
Nigeria’s tottering power sector, which has seen electricity generation fall to below the worst levels under the Muhammadu Buhari administration,…
Fidelity Bank Distributes Food Packs to Benue IDPs
Leading financial institution, Fidelity Plc, has distributed over 1,200 food packs to the internally Displaced Persons in…
Tinubu ‘very concerned’ about Naira exchange rate, meets CBN governor
Worried about the rising exchange rate of the naira to the dollar, Nigeria’s President Bola Tinubu, met with the acting governor of the central…
Diesel price hits N950/litre, manufacturers fear shutdowns, job losses
Oil marketers, on Monday, said the foreign exchange crisis in Nigeria and the recent implementation of a 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly called diesel, had pushed up the cost of the…
FCMB Offers N10 Million Clean Energy Loan to Households and Small Businesses
Nigerian households and small businesses looking to acquire solar panels, batteries, inverters, and other green energy equipment now have access to as much…
Residents of Ibeju Lekki Applaud Dangote Refinery CSR activities
The Committee of Baales and some residents of Ibeju Lekki, Lagos have showered encomium on the Management of Dangote Refinery, on its social…
Low patronage sparks fear of job losses for petrol stations
Godwin Chukwudi and Bola Olaniyi used to be among the busiest petrol attendants in Lagos. They worked at a busy petrol station that was always packed with motorists queuing up to fill their tanks but all that…
Reasons Naira Is Depreciating Under President Tinubu
The question in the minds of Nigerians today is why is the Naira depreciating or why is the exchange rate…
BREAKING: Diesel price to hit N867 per liter in Lagos, N875 in SW
Effective today, Saturday, August 12, diesel prices will hit N867 per litre in Lagos state and N875 in the Southwest region. This is according to information seen by Nairametrics from industry sources…
Controversy hits FBN Holdings over court judgement halting AGM
Controversy is currently trailing the 11th annual general meeting (AGM) of the First Bank of Nigeria (FBN) Holdings. FBN Holdings had scheduled its AGM for August 15, 2023. On Wednesday, a federal high court in Lagos…
Exchange rate ends volatile week at N955/$1, disparity crosses N200/$1
The exchange rate between the naira and dollar closed a tumultuous week quoting for as high as N955/$1 on the black market. This is according to quotes for the dollar from key forex traders across Lagos and Abuja.…
Time running out for President Tinubu to wake the sleeping naira
Residents of Africa’s largest economy finally seem to be exasperated as the exchange value of the naira continually loses value against the greenback. Is this really the liberalization of the country’s FX market? The…