Business

Nigeria’s Niger Delta crisis continues to threaten Africa’s biggest economy. Long after violent militant groups ceased fire after being offered amnesty in 2009 in exchange for peace, the country continues to…

The Central Bank of Nigeria (CBN) Friday said it would sanction, by blacklisting bank directors with loans that remain non-performing for more than one year. This was contained in the new corporate governance guidelines…

The Association of Nigerian Licensed Customs Agents (ANLCA) on Saturday said that the floating of the nation’s currency had caused a drop in vehicle importation in the nation’s ports. The agents also said that…

•Say, Emefiele’s arrest in violation of Court order•Want SSS, Bichi, sacked Legal practitioners under the aegis of Lawyers in Defence of Democracy have slammed the State Security Services SSS for arresting and…

There are strong indications that suspended Central Bank of Nigeria (CBN) governor, Godwin Emefiele, will face charges bothering on illegal possession of guns and live ammunition. Politics Nigeria reliably…

Despite widespread criticisms, the Association of Mobile Money and Bank Agents in Nigeria (ANMBAN) says it will be implementing the new framework for increased service charges starting next Monday. Point-of-Sale…

The Board and Management of Nigerian Exchange Group Plc (NGX Group) have urged the Tinubu administration to quicken the planned Initial Public Offer (IPO) of the NNPC Limited to enable it to get listed on the Exchange.  This…

The exchange rate between the dollar and naira fell to N803/$1 at the investor & exporter window on Friday, July 15, 2023. This is the lowest ever the exchange rate has fallen to since Nigeria adopted the…

With prices of cars soaring beyond many Nigerians’ reach, Anthony Ike plans to keep his seven-year-old Toyota…

Access Bank has completed the acquisition of majority shareholding in Angolan bank, Finibanco Angola S.A. The bank’s holding company, Access Holdings Plc made this known to the Nigerian Exchange, in a statement…

Any investor looking to acquire up to 5% of any bank in Nigeria will need to obtain prior approval and no objection from the central bank. This is according to section 20.2 of the new Corporate Governance…

Access Bank Plc has reached an agreement to acquire the sub-saharan subsidiaries of Standard Chartered Bank. In the acquisition deal, Standard Chartered will sell its shareholding in its subsidiaries in Angola,…

Barely 24 hours after a Federal Capital Teritorry High Court sitting in Abuja ordered the release of the suspended Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, from detention, another court has…

The Central Bank of Nigeria has revised the tenure of executive directors (ED). Deputy managing directors (DMD), and managing directors (MDs) of Banks and Bank Holding companies. According to the approved guidelines…

The forex reform of President Bola Tinubu is seen to be having a positive impact on inflow of remittance into the country. The reform aims to address the challenges of foreign exchange by floating the Naira, allowing…

Eleven electricity distribution companies have applied for a review of rates with the Nigerian Electricity Regulatory Agency (NERC). This was revealed in a statement by the NERC on Friday.   According to the…

Dangote Cement said it has concluded plans to expand its production capacity through the construction of a new 6 metric tonne integrated cement plant in Itori, Ogun State. Arvind Pathak, the Group Managing Director of…

Nigeria’s interbank rate has declined by over 1,000 basis points in less than a month following increased naira liquidity in the financial market, paving the way for businesses to access cheaper funding. The opening…

The Lagos Chamber of Commerce and Industry has urged the Federal Government to expand its tax net and bring it more…

The Nigerian equities market continued the bearish trend as the value of listed stocks dropped by N707 billion at the end of trading on Wednesday, 13th July 2023.   The market declined by 2.07% to close at N34.167…

FBN Holding’s share price fell by 10% for the second day running as investors reacted negatively to the shareholder debacle currently unfolding at the bank. Checks by Nairametrics indicate the share price fell…

Investors bought Nigeria’s one-year treasury bills at a rate of 5.9% per annum down from 6.2% per annum recorded in the previous bid. This is despite an inflation rate of 22.4% year-on-year, suggesting they are…

Abdulsamad Rabiu, the Chairman of BUA Cement and one of Nigeria’s richest men has experienced a significant decline in his net worth, losing a staggering $3 billion in just 60 days. As a result, his current…

Flutterwave, Africa’s leading payments technology company, has joined the International Air Transport Association’s (IATA) payment orchestration platform to facilitate travel to sub-Saharan Africa. With this…