Business

Dangote Group Chairman Aliko Dangote’s wealth has fallen by $4.12 billion since the CBN liberalized the naira and unified exchange rates. Aliko Dangote, the richest man in Nigeria and Africa, has fallen from…

The executive management of Heritage Bank Plc has denied online reports of diversion of funds by a member of staff, describing the allegations as “wrong and defamatory”. In a press statement shared with TheCable,…

The Economic and Financial Crimes Commission (EFCC) has declared Osayi Osazuwa and Uyi Osayimwense, founders of Farmforte, an agro-allied solutions company, wanted. In a publication dated June 9, the anti-graft…

The Nigerian naira has closed at N663 to the dollar at the Investors and Exporters (I&E) window after what has been the currency’s most eventful week in years.  On Wednesday, the CBN issued a circular to the effect…

Afrobeats singer, Oluwatosin Ajibade, otherwise known as Mr Eazi, has unveiled his multi-million naira estate project in Rwanda. The music act took to his Instagram page to unveil the project, which is still under…

The Central Bank has said that the status quo remains on the 43 non-eligible items banned from the forex market under Godwin Emefiele. The items are not permitted to be funded from the I & E window. This is…

Standard Chartered Bank sees the naira trading at N685 per US dollar by the end of June as Nigeria quickens the pace of implementing reforms needed to fix its foreign exchange market. “We now forecast USD-NGN at…

Nigeria’s debt profile has jacked up to N81 trillion following the latest Naira devaluation by the Central Bank of Nigeria (CBN).…

JP Morgan, an American multinational financial services firm, says the naira is expected to appreciate, and trade at about N600 to the dollar in the coming months. The financial institution made the projection in a…

The Nigerian naira traded as high as 790 to the dollar at the investors and exporters (I&E) window on Thursday — about 24 hours after the float of the local currency. However, the naira appreciated after hitting…

Nigerian billionaires, Aliko Dangote and Abdulsamad Rabiu, who have been listed among the 500 richest men, have both lost $5.85 billion. Data available on Bloomberg Billionaire Index, BBI, a daily ranking of the…

Nigerian billionaires feel pain as Abdul Samad Rabiu loses a third of his fortune in Naira devaluation, losing nearly $3 billion in a day Mr. Rabiu’s valuation fell by $2.73 billion to $5.54 billion. Most wealthy…

President Bola Ahmed Tinubu is thinking of extending the validity of old naira notes. The Central Bank of Nigeria (CBN) had redesigned the naira last year and set a deadline that was extended after outcry. However,…

The removal of the peg on the naira thus allowing for a free float will force a review of the assumptions that led to the pump price of petrol at N488 per litre in Lagos, industry operators say. Nigeria’s…

The next step for Nigeria after a bold first move towards unifying the country’s problematic multiple exchange rates is to boost dollar supply into the market, according to several economists polled by…

Naira on Wednesday depreciated against the dollar at the investors and exporters window, exchanging N664.04 to $1. The naira dropped by 40.78 per cent compared with N471.67 it exchanged for $1 on Tuesday. The…

Naira on Wednesday depreciated against the dollar at the Investors and Exporters window, exchanging N664.04 to the dollar. The News Agency of Nigeria (NAN) reports that the local currency droped by  40.78 per cent when…

Foreign exchange traders at the parallel market became jittery following reports of possible free float of the Naira on Wednesday. This is as…

These, are not the best of times for Heritage Bank as information reaching us has it that there is trouble in the bank following a reported boardroom crisis.…

Nigeria has officially floated its naira currency after years of sticking with a hard peg that spooked investors and drained dollars from the economy.…

A Nairobi court in Kenya has frozen 45 bank accounts and 10 mobile money wallets belonging to a Nigerian-owned financial technology firm…

Consumers of goods and services and companies paid about N1.18tn as taxes to the government in the first quarter of 2023, according to the latest reports by…

The Federal High Court sitting in Lagos has directed that criminal summons be issued on Senator Ifeanyi Ubah and his company, Capital Oil and Gas Limited in…

Some hackers have dealt a big blow to Globus Bank Limited by withdrawing customers’ funds worth N1.755 billion from…