Business

The federal government says the sale of crude oil to the Dangote refinery in naira will commence on October 1. The ministry of finance, in a statement on Monday, said the decision was made at a meeting with the…

The attorneys representing Nigeria in its high-stakes battle to stave off asset seizures in the United States have accepted the country’s culpability in the…

A Lagos Federal High Court has halted FBN Holdings‘ 12th Annual General Meeting (AGM), scheduled for August 22, at the request of shareholder Tohir Folorunsho Ismaila. The meeting was prevented from holding…

The Nigerian Electricity Regulatory Commission has issued permits to Golden Penny Power Limited, MTN Communications Nigeria Limited, Havenhill Synergy, and others for mini-grid electricity generation. The NERC…

A former relationship manager at First Bank of Nigeria (FBN) says loans worth billions of naira were transferred to companies related to Oba Otudeko, then chairman of the bank, even though they were granted in…

The current economic hardship in the country may deprive many retail investors of the opportunity to participate in the ongoing bank recapitalization, investment experts have observed. Most banks are currently on a…

The prices of perishable items have recorded a fall in some major towns in Yobe, Borno and Adamawa states, the News Agency of Nigeria (NAN) reports. NAN’s checks at Perishable Items Market, Damaturu in Yobe,…

President Bola Tinubu has approved a request by the Nigerian National Petroleum Company (NNPC) Ltd to utilise the 2023 final dividends due to the federation to pay for petrol subsidy, TheCable can report. The…

The Centre for the Promotion of Private Enterprise (CPPE) has urged the federal government to peg the foreign exchange (FX) rate for customs duty at N1,000 per dollar for the next six months. The current customs duty…

The Nigerian National Petroleum Company (NNPC) Limited says it does not owe international oil traders $6.8 billion.  Reports had said the company is indebted to international oil traders to the tune of $6.8 billon and…

Social media platform X, formerly Twitter, will shut down its local operations in Brazil, owner Elon Musk said on Saturday, although the service will remain available to Brazilian users. “Due to demands by ‘Justice’…

‘Yalleman and the BDC business Yalleman community is located 24 kilometers away from Hadejia Local Government Area of Jigawa State and 154 kilometers away from Kano State. The village lies just by the roadside…

Matrix Energy has absolved Abdulkabir Aliu, the company’s founder, from any wrongdoing following a report by TheCable that the businessman is behind the importation of petroleum products from Malta and Russia. On…

Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele allegedly spent N18 billion to print just N1 billion worth of banknotes, a fresh investigation by the Economic and Financial Crimes Commission (EFCC) has…

Leaked documents and extensive interviews with sources have unveiled how Africa’s biggest oil-producing country has been importing substandard petroleum products from Malta, a country with no known oil refineries. The…

Françoise Bettencourt Meyers, the world’s richest woman and heiress to the L’Oréal fortune, has experienced a significant financial setback of $13.1 billion in 2024. Over the first seven months of the year,…

The federal government says its dollar-denominated domestic bond will be issued on Monday. Gbadebo Adenrele, managing director of investment banking, at United Capital Group, spoke on Thursday during a…

In a finely balanced oil market, Nigeria has suddenly reemerged as a key player. During the past few weeks, actions by the country’s massive Dangote refinery have moved prices, with purchases of US barrels…

NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited, as part of its social investment initiatives, during the week commissioned and handed over a borehole…

The Economist Intelligence Unit has issued a warning that further delays in crude oil feedstock to the Dangote Petroleum…

A Federal High Court in Abuja has denied a motion by the Inspector General of Police (IGP) seeking an order to compel approximately twelve banks and financial institutions to reverse billions of naira that were…

The Central Bank of Nigeria’s (CBN) latest Purchasing Managers’ Index (PMI) report for July 2024 reveals that the Composite Employment Index continued its downward trend for the seventh consecutive month,…

…decries 37% bank interest annually The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said…

President Bola Tinubu, on Wednesday, approved the implementation of zero percent import duty and exemption of value-added tax (VAT) on basic food items. This is according to a circular seen by BusinessDay on…