Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Business
Transcorp Group delivers impressive Q1 2024 performance; sustains revenue growth of 173% and PBT of…
Transnational Corporation Plc (“Transcorp” or the “Group”), Nigeria’s leading, listed conglomerate with investment in the Power, Hospitality, and Energy sectors, has announced impressive…
Fidelity Bank Records A 120.1% Growth In PBT To N39.5 Billion In Q1 2024
In line with its upward growth trajectory, leading financial institution, Fidelity Bank Plc, has posted an impressive 120.1% growth in Profit Before Tax from N17.9bn…
FX gains ease inflation pressure on businesses as Nigeria’s PMI jumps to 51.1 – Report
Exchange rate gains during the month of April led to a slowdown in inflation pressure, according to the Stanbic IBTC Nigeria Purchasing Managers Index (PMI) in the month of April.
The country’s PMI in the month under…
Government palliative purchases driving food inflation in Nigeria – Cardoso
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), has said that government purchases of palliatives are a contributing factor to rising food prices in Nigeria.
During the latest Monetary Policy Committee…
BREAKING: NDIC increases deposit insurance coverage for banks, others
The Nigeria Deposit Insurance Corporation (NDIC) has increased deposit insurance coverage for all licensed deposit-taking financial institutions.
NDIC Managing Director/Chief Executive Bello Hassan announced this at…
Nigerians pay N350,000 for braces in public hospitals, N750,000 in private clinics
Amid the vibrant hustle at Iwo Road, Ibadan, 25-year-old Temi Okeowo paused at the entrance of a dental clinic, her heart beating with a mix of nervousness and excitement.
Yesterday marked the beginning of her journey…
Extradition papers for escaped Binance executive ready – Interpol
The International Criminal Police Organization for Africa (INTERPOL Africa) says they have completed the extradition papers for Nadeem Anjarwalla, Binance executive who fled detention in Nigeria.
According to…
Guinness optimistic despite N81bn FX loss
Guinness Nigeria Plc has improved its operating profit by 27 per cent to N2.21bn in the first quarter of 2024 despite N81bn foreign exchange loss.
This was…
Cocoa Now Gold In Taraba As Buyers Overwhelm Farmers
Grade 1 cocoa bean is now sold at the rate of N950,000 per 100 kilogramme (kg) bag in Taraba State.
The current price of the commodity is the highest ever witnessed by cocoa farmers in the state.
Daily Trust has…
Banks close 2m accounts over BVN, NIN, others
…Record 4m inactive bank account
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean…
Biggest mess created in 2023 was devaluation of naira – Dangote
Chairman of Dangote Industries Limited, Aliko Dangote has said that the devaluation of Naira created the biggest mess for the company in 2023.
Speaking…
FCMB Group Records 186% Profit Growth, Proposes 50k Dividend
For the year ended December 31, 2023, FCMB Group Plc grew deposits, loans, assets under management, revenue and earnings and improved its environmental, social, and corporate…
Multichoice ignores court order, proceeds with DStv, GOtv rate hikes
Multichoice Nigeria, a popular Pay TV provider, has proceeded with the upward adjustment of its prices for DStv and GOtv subscribers, despite a recent court ruling prohibiting the company from raising rates.
On…
Naira devaluation caused net loss of N142.7bn in Q1 2024 – Nestle Nigeria
Nestle Nigeria Plc says naira devaluation in the first quarter (Q1) of 2024 caused a net loss of N142.7 billion.
The company disclosed this in its financial results for Q1 on Tuesday.
The naira depreciated from N988.46…
Nigerian govt to grant full operating licence to Dangote Refinery
The Nigerian government on Tuesday said it will soon grant the Dangote refinery a valid licence to operate fully in the country.
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) Chief…
Relief for households as rice price drops 20%
The price of parboiled rice has dropped for the first time this year in April, bringing relief to households and reducing pressure on them.
BusinessDay’s market survey across Lagos shows that a 50kg bag of foreign…
BREAKING: After raising hopes, Naira depreciates against the dollar by 5.8% in April
The Nigerian Naira closed the month of April in a steep decline, closing at N1,390.96/$1 in the NAFEM, where the exchange rate trades officially.
This rate represents a 5.8% depreciation from the month’s opening rate of…
Binance founder Changpeng Zhao sentenced to four months in prison
Binance founder Changpeng Zhao was sentenced to four months in prison for failing to establish adequate anti-money laundering protections. Zhao,…
Nigerian banks submit plans to CBN in scramble for capital
Commercial, merchant and non-interest banks are jostling to meet the new capital requirements announced by the Central Bank of Nigeria…
BREAKING: Stock market Investors lose N3.57 trillion in April amid CBN policies
The NGX All-Share Index experienced a significant decline in April, losing N3.57 trillion in market value.
This downturn represents the first monthly decline for the NGX this year, contrasting with gains of 17.7%,…
Backward Integration: Dangote Targets 700,000MT of Refined Sugar in Four years
…As Q1 revenue rise by 20.1% to N122.7bn
Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar…
Binance executive will be smoked out of hiding…. Extradition process underway – Interpol
The International Criminal Police Organisation (Interpol) says plans are underway to extradite Nadeem Anjarwalla, Binance regional manager for Africa, to Nigeria for prosecution.
Garba Umar, vice president of Interpol…
‘Your funds are secured’, Opay reassures customers amid CBN’s new account suspension
Opay, a leading financial services provider in Nigeria, has reassured its customers regarding the security of their funds amidst the Central Bank of Nigeria’s (CBN) directive to suspend the creation of new accounts.…
MTN Nigeria reports N575.69 pre-tax loss in first quarter of 2024
MTN Nigeria released its Q1 2024 results, showing revenue of N752.9 billion, up 32.5% compared to N568.1 billion for the same period in 2023.
However, the company reported a pre-tax loss of N575.69 billion, a sharp…