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Business
CBN extends BDCs recapitalization to December 31
The Central Bank of Nigeria (CBN) has extended the recapitalisation deadline of the Bureau De Change (BDC) operators to December 31, 2025. This…
SEC orders companies to honour unclaimed dividend requests
The Securities and Exchange Commission (SEC), has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”, especially those dating from before the…
Diesel, petrol to cost more as four depot owners raise prices
•Crude oil hits $67.50 per barrel THERE were indications, yesterday, that the pump prices of Automotive Gas Oil, AGO, also known as diesel and Premium Motor Spirit, PMS, also known as petrol would rise in the…
CBEX: Investors jubilate as trade volumes return from initial zero balance
Investors on the Crypto Bridge Exchange (CBEX) platform are celebrating as trade volumes have been returned from a previous zero balance, sparking renewed confidence in the digital exchange’s operations. Traders…
‘You’ll hear from us soon’ – Dangote hints at major shake-up in oil sector
Nigerians should be expecting significant changes in the oil sector as Aliko Dangote, the President of the Dangote Group and founder of the Dangote Petroleum Refinery, vowed to announce a ‘major shakedown’ soon.…
Producers export crude, deny local refineries supply – CORAN
Crude oil refiners in Nigeria have cried out over their inability to access crude oil locally for their refineries, saying oil producers prefer selling crude to international traders in dollars The Publicity…
Why I dropped fraud charge against Fidelity bank’s MD, Onyeali-Ikpe – AGF
The Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN, on Monday, adduced reasons why he discontinued a fraud charge the Federal Government entered against the Managing Director and…
My company paid N450bn in taxes in 2024 – Dangote tells Pres. Tinubu
President of the Dangote Group, Aliko Dangote, recently informed President Bola Tinubu that his group of companies paid a whopping N450…
$435.1M FEUD: Indimi’s daughters admit receiving dividends, demand 10% stake in Oriental Energy
Nigerian oil magnate Mohammed Indimi’s daughters have amended their lawsuit instituted against his company, Oriental Energy, and are now admitting to have…
ALERT: SEC warns Nigerians against investing in Punisher coin, says issuers not registered
The Securities and Exchange Commission (SEC) has warned Nigerians against investing in Punisher Coin, also known as Spun. In a notice on Saturday, the commission said its investigations showed that Spun is a meme coin…
Nigeria’s business climate is scaring off American investors – US Ambassador warns
American businesses are increasingly wary of investing in Nigeria due to complex regulations, policy unpredictability, and trade barriers, according to U.S. Ambassador to Nigeria, Richard Mills. Speaking in Lagos on…
Petrol: 6 depots slash prices as competition heightens in downstream sector
…operators expect further price reduction by Dangote, others Six depot owners have reduced the prices of Premium Motor Spirit, PMS, also known as petrol as competition heightens in the downstream sector of…
Oando records N220b profit in 2024, revenue hits N4.1 trillion
Projects 40,000boepd output, 50 new electric buses rollout in 2025 Oando Plc, Nigeria’s foremost indigenous energy…
Netflix raises subscription fee to N8,500 in Nigeria [Full List]
Streaming giant Netflix has increased its subscription prices in Nigeria for the first time in 2025, marking the third hike since 2024. According to updates on the company’s website, the Premium Plan now costs N8,500…
Dangote Cement earned over N1.4 trillion in Africa last year, but this country led the pack
In a year marked by hyperinflation, currency devaluation, and geopolitical instability across several African markets, Ethiopia stood out as Dangote Cement Plc’s most operationally profitable Pan-African operation in…
USSD Charges: Telcos threaten to withdraw services over banks’ misinformation
The telecom operators in Nigeria, including MTN Nigeria, Airtel, Globacom and 9Mobile have threatened to withdraw network support for banks’ Unstructured Supplementary Services Data, USSD, following what they described…
Naira rises to N1,620/$ in parallel market
THE naira yesterday depreciated to N1,620 per dollar in the parallel market from N1,610 per dollar on Monday.But the Naira appreciated to N1,579 per dollar in the Nigerian Foreign Exchange Market (NFEM). Data…
Rising offtake drives Nigeria’s gas export to 15-month high
Nigeria’s natural gas export sector has recorded a milestone, with volumes reaching their highest level in 15 months. This surge, driven by…
Airfares still expensive two years after cleared trapped funds
Two years after the federal government cleared foreign airlines’ trapped funds in Nigeria, airfares from Nigeria to various…
Recapitalisation: Shakeup looms as only 10% of BDCs comply
...Operators appeal to CBN for deadline extension, requirement review The deadline for the recapitalisation of Bureau De…
Landlords, tenants seen gaining income from zero rent VAT
President Bola Tinubu has told Nigerians that house rents in Nigeria will no longer attract the value added tax (VAT). This is a relief for property…
Tariff hike: Internet usage crashes as subscribers decline
Internet data consumption in Nigeria declined by 17,647 terabytes between January and April 2025, following the implementation of a new tariff regime that saw the cost of telecommunications services rise significantly.…
Tony Elumelu acquires additional N43.9bn shares in UBA
Tony Elumelu, chairman of the United Bank for Africa (UBA), has acquired N43.9 billion worth of shares in the financial institution…
NCC directs banks to deduct USSD transaction fees from users’ mobile airtime
The Nigerian Communications Commission (NCC) has directed deposit money banks (DMBs) to stop deducting charges for unstructured supplementary service data (USSD) transactions directly from customers’ accounts. The…