Business

Stanbic IBTC Plc, the Nigerian unit of Standard Bank Group Ltd., expects the proposed windfall tax on foreign exchange gains to have a minimal effect, consuming only a modest portion of 10% of its profits. During an…

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial…

GTCO Plc released its second quarter audited financial statements showing a pre-tax profit of N494.5 billion nearly double the same profits reported a year earlier. This represents the best second-quarter results reported so far by…

Nigeria recorded a trade surplus of N6.95 trillion in the second quarter of 2024, reflecting the country’s strong export performance amidst a slight decline in overall merchandise trade. This surplus marks a 6.60%…

When will gasoline from Nigerian tycoon Aliko Dangote’s mega-refinery finally flood the home market? That’s the question Nigerians are asking as Africa’s most populous country battles chronic petrol shortages. Dangote…

…Awaits Tinubu’s consent as petroleum minister The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has accepted Shell International Plc’s bid to sell its onshore assets to Renaissance in a…

In a strategic move to reduce fuel costs and provide Nigerians with an affordable alternative to petrol and diesel, President Bola Tinubu has made Compressed Natural Gas (CNG) available for vehicles at N230 per litre.…

Fidelity Bank Plc on Tuesday reaffirmed its commitment to alleviating hunger and poverty with the distribution of food packs to residents of Eti-Osa Local Government Area in Lagos. The Managing Director of Fidelity…

Wale Edun, minister for finance, says the federal government’s revenue for the first quarter of 2024 increased to N9.1 trillion. Speaking on Tuesday at the Chartered Institute of Bankers of Nigeria (CIBN) 17th…

First Bank of Nigeria (FBN) Holdings says the sale of FBNQuest Merchant Bank Limited to EverQuest Acquisition LLP does not include other subsidiaries. On September 6, FBN Holdings announced the divestment of a 100…

Shell says Venture Global wrongfully earned $3.5 billion by breaching an LNG supply contract, the Financial Times reports. Shell LNG is a major shareholder of Nigeria LNG, which is involved in a similar…

•Proceeds for critical economic projects, says Edun Nigeria’s maiden foreign-currency domestic bond…

Zenith Bank Plc has extended the deadline for its ongoing Rights Issue and Public Offer by two weeks. Initially set to close on September 9,…

The National Agency for Food and Drug Administration and Control (NAFDAC) has ordered the recall of Dove Beauty Cream Bar Soap (100g) with batch number 81832M 08, produced in Germany, due to the presence of a harmful…

Air Peace, Nigeria’s flag carrier, has corroborated TheCable’s report that Joe Ajaero, president of the…

• Insist culprits are traceable, currently sit on board of listed firms As rising inflation, hardship, foreign exchange losses and other macroeconomic challenges take a toll on investment in the capital…

•GDP growth, 50,000 employees may be impacted Partner at Kreston Pedabo, Kehinde Folorunsho, has attributed the staggering N818.3 billion combined loss reported by key players in Nigeria’s Fast-Moving…

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says the price of petrol will determine if it will buy from the Nigerian National Petroleum Company (NNPC) Limited or Dangote Petroleum…

The Chief Executive Officer of Tesla, SpaceX, and X (formerly Twitter), Elon Musk, is set to become the world’s first trillionaire by 2027, according to a new report by Informa Connect Academy. His rapid…

The Justice Action Alliance (JAA) has called out the Dangote Refinery to be transparent about its dealings, especially on petrol, saying that Nigerians are tired of the confusion trailing the availability and…

Data published by the National Bureau of Statistics has shown that Nigeria recorded N2.4 trillion as Company Income Tax for the second quarter of…

The federal government in the second quarter of 2024 generated a total of N1.56 trillion from Value Added Tax. This is a 9.11 percent increase from the N1.43 trillion in Q1 2024. According to the National Bureau…

Dangote Oil Refinery, the largest in Africa, has set its sights on capturing Nigeria’s $267.7 million polypropylene market starting next month, Aliko Dangote, president of the group said, as its largest oil and gas…

There are indications that the Nigerian diaspora bond was 100 percent oversubscribed to about $1billion. This is even as subscribers are set to receive allocation this week. The five-year bond, which carries a 9.75…