Business

The company’s first quarter interim financial report for the three months ended March 2023 shows a strong earnings elevation from a final quarter loss of N1.8 billion in 2022 to maintain an outstanding profit growth for…

Confusing signals emanating from electricity distribution companies (DisCos) in the country and the…

Elon Musk, the billionaire founder of Tesla Inc., says a temporary limit has been made to the number of posts users can read daily on Twitter. The move seeks to tackle issues around “data and systems…

The Nigerian currency, Naira, ended the month of June with a slight depreciation against the US dollar at the Investors and Exporters (I&E) window. According to data from FMDQ Securities Exchange, the…

Apple Inc. achieved a market valuation of $3 trillion, becoming the first publicly traded company to reach this milestone for the second time.   This occurred when Apple’s shares surpassed $190.74 at the…

Point of Sale agents in Lagos State will soon begin to charge customers N500 for N10,000 cash withdrawals. This is after the Association of Mobile Money and Bank Agents in Nigeria, Lagos Chapter, announced a new…

The latest I&E Window exchange rate for June 30th, 2023 shows the exchange rate between the naira and dollar closed at N769.25 per dollar after the opening rate was N758.56 per dollar. The turnover was $263.45…

Equity trading on the Nigerian Exchange Limited (NGX) concluded the first half of the year on a positive note, with the NGX All-Share Index gaining 18.9% and closing at 60,968.27 index points. This marks a…

The Federal Government is targeting to raise N1.2 trillion from bonds in the third quarter (July and September) of 2023. The Bond Issuance Calendar of the Debt Management Office released on Tuesday indicated that the federal government…

In continuation of its periodic intervention in the foreign exchange market, the Central Bank of Nigeria injected…

After the Federal Government’s decision to unify exchange rates, air travellers, particularly those traveling internationally, have been advised to anticipate fluctuations in airfares based on the exchange rate…

Dr. Herbet Wigwe, the Group Managing Director and co-founder of Access Holdings, Nigeria’s largest bank holding company has spent an estimated N14.5 billion on additional shares of the bank since April 2023.…

Foreign exchange traders at the official investor and exporter window have raised concerns about the persistent trade of forex at an intra-day low of approximately N460-N465/$1. The exchange rate between the…

There are strong indications that terminal operators at the nation’s seaports have jacked up the cargo handling rate by 45 per cent following the devaluation of the naira by the Central Bank of Nigeria (CBN) from N461 to…

The Bank of America (BoA) has said the it sees the value of the naira settling at N680 to the dollar by the end of the year, saying that the currency has moved from overvalued to being undervalued following the…

…Emerges the only Nigerian among six Africans in the top 500 Index President of Dangote…

In recent times, Nigerians have had to suspend their travel plans to the United States and Europe as a result of the…

The Central Bank of Nigeria (CBN) on Tuesday issued guidelines on contactless payments, which allows a customer to make daily cumulative…

A wave of excitement filled the atmosphere when the Nigerian National Petroleum Commission Limited (NNPCL), last October,  announced the acquisition of OVH Energy Marketing Limited, the company behind the Oando Retail…

A Federal High Court, sitting in Lagos, yesterday, granted Ecobank leave to join Dr. Oba Otudeko, Flour Mills of Nigeria Plc. and Honeywell Group Limited as additional defendants to the counter-claim filed by the…

The Nigerian Exchange Limited, NGX has blacklisted 12 stock broking firms for non compliance with shareholders fund as required by regulation to operate in the Nigerian stock market. The firms are: First…

Nigeria’s foreign exchange market has recorded a drastic change following the market reforms introduced by the CBN, previous week. However, for the first time, the exchange rate in the official market (I&E)…

…Only NNPCL still importing fuel …As ex-depot price rises to N505 per litre   Barely a month after deregulation, operators in the downstream sector have not been able to import petrol into Nigeria, due mainly to a…

There are indications that banks are ignoring the Central Bank of Nigeria, CBN, directive that they should grant their customers unfettered withdrawal of foreign currencies from domiciliary accounts. Meanwhile,…