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How Nigerian Central Bank Seeks To Revive eNaira As Digital Currency Hits N18.32billion Transactions
The Central Bank of Nigeria (CBN) has rolled out fresh plans to conduct a "comprehensive review of the eNaira’s implementation to enhance its effectiveness and broaden its economic impact" in the country. According to…
Dangote Refinery challenges NNPCL’s objection against N100 billion Import Licenses suit, calls…
Dangote Petroleum Refinery and Petrochemicals FZE has urged the Federal High Court in Abuja to dismiss the preliminary objection of the Nigerian National…
Naira appreciates to N1,615/$ in parallel market
The Naira on Friday appreciated to N1,615 per in the parallel market. Similarly, the Naira appreciated to N1,474.78 in the official market.…
Nigeria’s non-oil exports hit $5.46b in 2024 — NEPC
The Nigerian Export Promotion Council (NEPC) has reported a significant 20.79 per cent increase in the country’s non-oil exports, reaching $5.46 billion in 2024, up from $4.5 billion in 2023. Nonye Ayeni, the Executive…
Oando reports N47.7 billion pre-tax profit as full-year revenues top N4.1 trillion
Oando Plc has disclosed a full-year pre-tax profit of N47.7 billion in its latest unaudited financial report for 2024, released on the Nigerian Exchange on January 30, 2025. This figure shows a decline from the…
Nigeria’s VAT revenue hits N6.72 trillion in 2024, surges by 84.62%
The Federal Inland Revenue Service (FIRS) has reported a substantial rise in Nigeria’s Value Added Tax (VAT) collections, which reached N6.72 trillion in 2024, reflecting a 84.62% year-on-year (YoY) increase…
31% of businesses in Nigeria now hybrid, Zoho reveals
Leading global technology company, Zoho, has revealed that 31 per cent of Nigerian businesses now operate the hybrid work schedule, while most remote roles are held by individual contributors with limited collaboration…
Nigerian Bank Threatens To Sue EFCC Over Property Recovered From Fraudster ‘That Has Gone Missing’
Ohha Microfinance Bank Limited has issued an ultimatum to the Economic and Financial Crimes Commission (EFCC), demanding that they produce an uncompleted four-bedroom bungalow recovered from a fraudster within…
We Collected N21.6trn Revenue In 2024, Targetting 25trn In 2025 – FIRS
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, has revealed that the Service surpassed its revenue target in 2024 by collecting N21.6 trillion. Adedeji made the disclosure at the…
Meta agrees to pay Trump $25m for account ban settlement
Meta has agreed to pay President Donald Trump $25 million to settle a 2021 lawsuit he filed claiming he was wrongfully censored by Facebook and Instagram after the US Capitol riot, the company said on Wednesday. The…
Nigeria’s race for Chinese investments opens door to illegal activities
In the last three months at least 400 Chinese nationals have been arrested for fraud and illegal mining in various parts of Nigeria. Is Nigeria’s quest for…
Lagos butchers lament as cow prices soar to N1.7m
The number of cows slaughtered daily in Lagos State has dropped from 5,000 to 3,000, according to the Lagos State Butchers Association. The association’s patron, Alhaji Bamidele Kazeem, disclosed this in an…
Obanikoro Accuses Access Bank of Using His Property as Collateral for N1bn Loan without His Consent
New facts have emerged on how Access Bank clandestinely granted N1 billion loan to a going concern, DDSS International Company limited, using a property…
Petrol imports hit 8-year low as Dangote ramps up
Nigeria’s petrol imports have dropped to their lowest level in eight years, a significant shift attributed to the ramp-up in production at…
Injunctive orders against Obaigbena, GHL, others stay, say FBN lawyers
Six of the injunctive orders made by Justice D. I Dipeolu on December 30 last year against General Hydrocarbons Limited (GHL), publisher of Thisday newspaper, Mr Nduka Obaigbena and other directors of the company…
PFAs rethink asset portfolios to beat market uncertainties
Pension Fund Administrators (PFAs) are rethinking their asset portfolios to beat market uncertainties. With the nation’s…
My Sister Lost Over N50m To Crypto – Seun Kuti
Seun Kuti, the youngest son of late Afro-beat maestro, Fela Anikulapo-Kuti, has claimed that his sister lost over N50 million in cryptocurrency. A cryptocurrency is a digital currency designed to work…
BDC operators laud CBN on waiver of 2025 licence fees
Bureau De Change operators have praised the Central Bank of Nigeria for waiving the 2025 licence fees for the operators. They spoke under the aegis of Association of Bureau De Change Operators of Nigeria. President,…
FG may earn N1.6 trillion from 50 per cent telecoms service tariff hike
• Approval to unlock $150m tech investment The GSM Association (GSMA) said the 50 per cent…
Aradel reports N321.6b pre-tax profit, sees 162.74% surge in revenue
Aradel Holdings Plc has posted an impressive pre-tax profit of N321.6 billion for the…
CBN clears outstanding $7bn FX backlog
Governor of the Central Bank of Nigeria, Olayemi Cardoso, on Wednesday, announced that the Federal Government has cleared the outstanding $7bn foreign exchange following a successful verification exercise by forensic…
Dangote-backed investors to acquire Kenyan coffee chain, Java House
A private equity firm backed by Aliko Dangote is preparing to enter Kenya’s food and beverage market by acquiring Java House, a leading coffee chain in the country. Alterra Capital, an Africa-focused private equity…
UK investigates Coca-cola drinks over safety concerns
A massive recall of Coca-Cola drinks has been launched in several European countries, including Belgium, Luxembourg, and the Netherlands, due to high levels of a chemical called chlorate. The European bottling…
PETROAN seals PMS distribution deal with Dangote refinery
Petroleum Products Retail Outlet Owners Association of Nigeria says it has signed a deal to begin distributing Dangote refinery’s premium motor spirit. The National President of PETROAN, Billy Gillis-Harry,…