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AMCON mulls liquidation, return-to-shareholders options for embattled Arik Air
The pending court hearing notwithstanding, Asset Management Corporation of Nigeria (AMCON) has hinted on plans to withdraw from ownership and operations…
Unease as Nigeria’s money supply spikes to N64.3 trillion
Nigeria’s money supply increased to N64.3 trillion in the month of June 2023 the highest we have ever recorded in Nigeria. This compares to N55.5 trillion recorded in the month of May or a whopping N8.8 trillion…
Fuel Subsidy Removal: Cost Of Smaller Vehicles Skyrocket
Car owners are currently reconfiguring their usage patterns by shifting focus to smaller, more fuel-efficient vehicles to cope with the rising cost of fuel after the removal of subsidy, Daily Trust reports. One of…
Dr Awele Elumelu’s Transcorp stake dips below $10m benchmark
Dr. Awele Elumelu, the wife of billionaire investor Tony Elumelu, has recently experienced a drop in the value of her stake in Transnational Corporation of Nigeria (Transcorp), falling below the $10 million mark to…
JUST IN: CBN Withdraws Licenses of 2,698 BDCs in Bid to Curb Naira Fall
The Central Bank of Nigeria (CBN) has released a new list of Bureau de Change (BDC) dealers, with the number of approved operators reduced to 2,991.POLITICS NIGERIA reports…
TikTok Ad Earnings Surge 155%, Beat Apple`S, Amazon`S
TikTok has become the go-to for advertisers, with earnings showing a massive 155 percent growth rate, four times more than Apple and…
BREAKING: NNPC Increases Petrol Price To N617/Litre
The price of Petrol has increased to about N617 per litre, Daily Trust can confirm. A visit to an NNPC filling station in the Central…
Exchange rate worsens to N820/$1 at parallel market ahead of MPC meeting
The exchange rate between the naira and the US dollar closed at N795.28/$1 at the official Investor and Exporters window on Monday, 17th July 2023. This compares to N820/$1 traded by BDC operated on the same day…
PoS operators divided as new charges commence
A group of Point of Sales operators in Nigeria have protested against the increased service charges in the country which took effect on Monday.…
Nigeria’s petrol consumption falls by 35 percent, 56 firms apply to import
Nigeria’s daily petrol consumption has been reduced by 35 per cent to 46.38 million litres, since the subsidy was removed, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) said. Mr Ahmed…
Naira fights back, posts marginal gain over Dollar
The Naira on Monday appreciated against the dollar, exchanging at N795.28 at the investors and exporters window. The Naira increased by 1.07 per cent when compared with N803.90 which it exchanged to the dollar on…
Norway threatens $100,000 daily fine on Facebook’s owners, Meta over data
Norway’s data protection agency said Monday it would ban Facebook and Instagram owner Meta from using the personal information of users for targeted advertising, threatening a $100,000 daily fine if it continues.…
Poultry farms shutting down over high maize price – PAN
Poultry farms across the country are currently shutting down operations due to the persistent hike in the price of maize – a major feed for birds in the subsector, the Poultry Association of Nigeria said on Monday.…
Elon Musk’s net worth surges to $250B
The self-made billionaire and Tesla founder, Elon Musk, has solidified his position as the world’s richest man, boasting a staggering…
BREAKING: Intl. Airlines to adjust exchange rates for tickets to N803/$1 from 18th July
International airlines in Nigeria have adjusted the exchange rate for selling tickets to Nigerians to N803/$1, according to…
GUARANTY TRUST BANK NAMED BEST BANK IN NIGERIA BY EUROMONEY
Guaranty Trust Bank Ltd has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time…
BDCs Record Boom In Lagos, Lull In Abuja, Kano
Bureau de Change (BDC) operators in Lagos, Abuja and Kano have been experiencing mixed fortunes owing to the recent forex unification policy of the Central Bank of Nigeria (CBN), Daily Trust reports. The CBN had…
FastCash Distributes N105 Billion in Digital Loans to Over 3 Million Nigerians
FastCash, an instant loan solution powered by First City Monument Bank (FCMB), has disbursed over 3…
Another Group Of POS Operators Proposes New Service Charges, Describes Charges Announced By Bank…
A group of Point of Sales (POS) operators in Nigeria have proposed a new price list for their services which will depend on the amount of money involved in the transaction. This was stated in a press statement…
GTBank apologises to customers over app hitches, suggests alternatives
Guaranty Trust Bank (GTBank) has tendered an apology to customers for difficulties experienced while trying to access its mobile banking app ‘GTWorld’. The financial institution issued the apology in an email to…
Experts, Activists, Others Knock FG, DSS Over Fire Arms Charges On Emefiele
Leading financial experts, members of Civil Society Organizations (CSOs) and Legal Experts have berated the Federal Government and…
Re-open closed branches, Adeleke pleads with banks’ CEOs
Governor Ademola Adeleke of Osun State has pleaded with banks’ Chief Executive officers in Nigeria to…
Musk says Twitter has lost half its advertising revenue
Twitter owner Elon Musk said Saturday that the social media platform he bought for $44 billion last October has lost roughly…
More money for real sector as CBN slashes CRR
The Central Bank of Nigeria (CBN)’s slashing of Cash Reserve Ratio (CRR) of Merchant banks, means money for the real sector of the economy to create jobs. The CBN on Friday revised the CRR of Merchant banks to 10…