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TotalEnergies records N1.04tn revenue
TotalEnergies Marketing Nigeria Plc reported revenue of N1.04tn for the financial year ending 31 December 2024, representing a 64 per cent increase from the N635.95bn recorded in 2023. The company’s revenue growth…
Court Overturns Mareva Injunction Freezing Assets of General Hydrocarbons Limited
The Federal High Court in Lagos has set aside ex parte Mareva orders that froze the assets of General Hydrocarbons Limited (GHL), a Nigerian oil and gas services company, and its directors. The court ruled that the…
Active bank accounts in Nigeria rise to 311.6 million in December 2024 – NIBSS
The latest data released by the Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts in Nigeria rose to 311.6 million in December 2024. At the end of 2023, NIBSS data showed…
E-payment transactions in Nigeria hit all-time high of N1.07 quadrillion in 2024
Electronic payment transactions in Nigeria rose to N1.07 quadrillion in 2024, reaching an all-time high and the first time to hit the quadrillion mark. In dollar terms, this is about $702.6 billion based on the closing…
Risevest operating illegally, Nigerians at risk of fraud, SEC insists
The Securities and Exchange Commission (SEC) has issued a stern warning to Nigerians against engaging with Risevest Technologies Limited, a firm that presents itself as a Digital Dollar/Fund Manager in the Nigerian…
Telecoms 50% tariff hike: Subscribers head for court as NCC talks deadlocked
Nigerians are mounting a resolute challenge to the contentious 50 per cent increase in call and data tariffs, with telecom subscribers and advocacy groups escalating the matter to the courts following…
The NPA Lagos International Polo Tournament Returns with GTCO as Headline Sponsor
Guaranty Trust Holding Company Plc (GTCO) is proud to be the headline sponsor of the 2025 NPA Lagos International Polo Tournament. The…
Invest in Nigeria, you can be deported from abroad – FG tells diaspora citizens
The Nigerian Diaspora Commission (NiDCOM) has warned Nigerians in the diaspora to prioritise investment in their…
Nigeria’s total debt was N87trn when Tinubu took over, NOT N21trn – DMO
The Debt Management Office (DMO), on Monday, dismissed a report claiming that Nigeria’s public debt rose from N21 trillion to N142…
Five reasons naira will remain calm in 2025
The Nigerian naira has found some relative calmness on the back of some policy actions implemented by the current government, a new…
CBN asks FX market participants to submit compliance report before January 31
The Central Bank of Nigeria (CBN) has directed participants in the foreign exchange (FX) market to submit a compliance report on adherence to the Nigeria FX Code by January 31, 2025. This directive is part of the apex bank’s efforts to…
Nigeria’s electricity market open for investment, says Edun
Nigeria’s electricity market is open for investment, Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said yesterday. He assured foreign investors that the country’s electricity…
CBN Waives Non-Refundable Licence Renewal Fee For BDCs
The Central Bank of Nigeria (CBN), on Monday, announced that it has approved the waiver of the 2025 licence renewal…
S’Court Affirms Halliburton’s $6.9m Tax Debt To Fed Govt
The Supreme Court has affirmed an almost one-decade Court of Appeal judgment on $6,927,248 tax debt to Nigeria by an oil service firm, Halliburton West Africa Limited (HWAL). The $6.9 million is an additional…
How price of rice rose from N2500 in 2000 to N105,000 in 2024
The Central Bank of Nigeria, CBN, and Rice Farmers Association of Nigeria made history on January 18, 2022, when they co-launched the r me Rice Pyramids on the premises of Abuja Chamber of Commerce and Industry,…
Oando to deploy 5,000 electric buses for public transport in Lagos – Wale Tinubu
The Group Chief Executive Officer of OandO Plc, Wale Tinubu has disclosed that the oil firm is partnering with the Lagos State Government to deploy 5,000 electric buses for public transportation in the state.…
SEC issues red alert on Risevest, Stecs cooperative societies
The Securities and Exchange Commission (SEC) has warned Risevest (Victoria Island) Cooperative Multipurpose Society Ltd. and Stecs (Alausa)…
Tomato prices crash in Lagos amid harvest season glut
The price of tomatoes in Lagos and other parts of Nigeria has significantly dropped due to a glut caused by the ongoing harvest season. Farmers and traders have attributed the price crash to the surplus supply, which…
We have over a billion barrels of oil reserves, says Wale Tinubu
The Group Chief Executive, Oando Plc, Adewale Tinubu, has highlighted the immense prospects of indigenous energy companies taking over the…
Forex spending on foreign education, health defy naira depreciation
•Rises by 26% to $2.3bn in 9mths •Increase driven by panic, front-loading of fx demand — Bank Executive •Indictment on…
Greg Abel named successor to Warren Buffett at Berkshire Hathaway
Greg Abel, Vice Chairman of Berkshire Hathaway’s Non-Insurance Operations, has been confirmed as Warren Buffett’s successor. Abel, a Canadian born in Edmonton, Alberta, in 1962, has been with Berkshire since 2000,…
To Tackle Liquidity Challenges, Boost Lending, Banks Borrow N8.2tn from CBN in 17 Days
As part of the efforts to tackle liquidity challenges in the financial sector and boost lending to the real sector of the Nigerian economy, commercial and merchant banks have borrowed N8.2 trillion from the Central…
Lagos, Rivers, Delta owe 38% of domestic debt
Lagos, Rivers, and Delta states collectively account for 38 per cent of the total domestic debt stock of Nigerian states and the Federal Capital Territory. According to the latest subnational report by the Debt…
Consumers groan as IBEDC bars recharging less than N5,000 on prepaid
• Recharge Benchmark Policy Illegal, Says Expert Some low-income earners in the country are currently living in darkness…