Browsing Category
Business
Naira’s rally is temporary, don’t get carried away — Rewane warns
Bismarck Rewane, the managing director and chief executive officer of Financial Derivatives…
Alibaba posts $6.3bn profit, plans bigger AI investments
Alibaba Group, the parent company of AliExpress, plans to accelerate investments in artificial intelligence and cloud computing after reporting a 333 per cent surge in net income to $6.36 bn for the quarter ended…
We have over N600bn worth of petrol in store ― Dangote
…As Zambia seeks Dangote investment in its energy sector President of Dangote Industries Limited (DIL), Aliko Dangote has revealed…
FG has spent $8 billion to support the Naira – Rewane
The Federal Government has spent approximately $8 billion in an attempt to stabilize the naira amid ongoing economic pressures. This was made known by the CEO of Financial Derivatives Company, Bismarck Rewane on Friday.…
Nigeria vs. Binance: What is behind the high‑stakes crypto showdown?
Accused of tax evasion, illegal operations and sinking the naira, Binance faces an $81.5bn…
Five candidates cleared for AfDB presidency race – Committee
The race to lead the African Development Bank (AfDB) has officially begun with the release of the list of candidates vying for the prestigious role of president. AfDB, in a statement, said this was the outcome…
Naira closes week stable amid declining external reserves
The naira maintained stability across foreign exchange (FX) markets despite steady decline in external reserves. Data from the…
MISINFO ALERT: No, withdrawal of N20k from PoS won’t cost N1,000
On Thursday, an X user claimed that Nigerians will spend about N1,000 to withdraw N20,000 from point of sale (PoS) operators. The post comes after the Central Bank of Nigeria (CBN) announced that it has…
Wema Bank Reiterate Commitment to Empowering Women Led Businesses
…. Returns as Headline Sponsor for 2025 NBC Trade Fair Wema Bank, Nigeria’s most innovative financial institution and pioneer of Africa’s first…
Waste for Gas – GTCO Plc Launches Initiative to Improve Quality of Life for Households and Empower…
Guaranty Trust Holding Company Plc (GTCO), a leading financial services institution renowned for its innovative approach to…
Official, parallel FX rates converge at 1,502/$ — first time in almost two years
The naira closed against the dollar at N1,502 at both parallel and official sections of the foreign…
Labour forces FG to reduce telecom tariff hike by 15%
Organised Labour through the Nigeria Labour Congress, NLC, has forced the Federal Government to reduce telecommunications tariff hike from 50 percent to 35 percent. Vanguard gathered that the reduction followed a…
Oando’s cash flow struggles raise concerns as debt piles
Over the last five financial years, Oando has recorded a positive net operating cash flow only once, in 2023. This is a cause of concern as it raises questions about the company’s ability to generate…
Inside IBB’s controversial economic reforms
In his long-awaited autobiography, former Nigerian military…
FG Mulls Sanctions on Foreign Firms Benefitting from Economy, Not Adding Value
•Inaugurates Industrial Revolution Work Group •Olusegun Aganga: lack of continuity country’s major problem, not plan Minister of State for Industry, Senator John Enoh, yesterday, called for…
Why we appointed Stanbic IBTC Gov’t Stockbroker – DMO
The Director-General (D-G) of the Debt Management Office (DMO), Ms. Patience Oniha, has said that the agency appointed Stanbic IBTC as Government Stockbroker owing to its comprehensive, diversified financial…
CBN retains interest rate at 27.5% — first hold in almost three years
The monetary policy committee (MPC) of the Central Bank of Nigeria (CBN) has retained the monetary policy rate (MPR), which benchmarks interest…
Naira appreciates to N1,514/$1 in parallel market as CBN leaves banks with huge dollar liquidity
The naira’s strong performance has continued as the local currency appreciated again to close at N1514/$1 at the parallel market on Wednesday, February 19, 2025. This represents an N11 or 0.72% gain when compared…
Delta airline offers $30,000 each to Toronto plane crash passengers
US airline Delta will offer $30,000 to each passenger on a plane that crashed as it landed at Toronto airport this week, the carrier told AFP on Wednesday. “This gesture has no strings attached and does not affect…
Market Relief: Food prices drop after months of soaring costs
The prices of major staple food items in Lagos State experienced a significant decline in February 2025, following months of continuous price surges. This development has brought relief to traders and…
BREAKING: FG seeks Court order for Binance to pay Nigeria $79 billion economic loss Fine, $2 billion…
The Nigerian government, through the Federal Inland Revenue Service (FIRS), has asked the Federal High Court in Abuja to order Binance Holdings Limited to pay $79,514,055,594.40 and N231 million for economic losses…
Banks must make cash available in ATMs – CBN
The Central Bank of Nigeria has urged banks to ensure that their customers have access to cash at their Automated Teller Machines as the increase in ATM transaction fees takes effect on March 1. This was disclosed by…
Lagos lawmakers commend LIRS on historic N1t revenue milestone
Legislators in Lagos State have commended the Lagos State Internal Revenue Service for achieving an unprecedented milestone in revenue generation,…
Talks On Fuel Quality Just Drama, Bad Marketing Antics, Says Kyari
The Group Chief Executive Officer of NNPC Ltd, Mr. Mele Kyari has flayed talks about the existence of sub-standard fuel in the country, describing it as unfortunate drama and bad marketing practice. Kyari, who was…