Business

A new report by the Nigeria Inter-Bank Settlement System (NIBSS) has revealed that fraudsters exploited weaknesses in the banking system to steal over N1 billion using Bank Verification Numbers (BVNs) illegally…

In anticipation of the grand celebration of its 80th anniversary, Wema Bank, Nigeria's most innovative bank and pioneer of Africa's…

*Seeks negotiated exit of Sunrise from 3,050MW power project  *Says ICC president supports amicable settlement by both parties Following the intervention of some elder statesmen and influential…

With a relative decline in headline inflation, the Central Bank of Nigeria is under pressure to cut interest rates, James Emejo writes The National Bureau of Statistics (NBS) recently rebased the Consumer…

*Set to rework electricity subsidy structure to benefit the poor *Says Nigeria’s wealthiest among 25% enjoying huge tariff underpayments  The federal government at the weekend remained upbeat about the…

The excessive use of mathematics in economics has often been criticised as akin to killing an ant with a…

Nigerian Eurobonds have sustained their rally this year as large investors' appetite drove average yields to 8.79…

The Nigerian Navy Microfinance Bank says it has recorded remarkable financial growth and expanded its capital base from an initial capital of N20 million to N20 billion in assets within a decade. Weekend Trust…

One of America’s biggest banks accidentally transferred more than $80 trillion (£64 trillion) to a customer’s account after a “fat finger” input…

Oando Plc has been selected as the preferred bidder for the lease of the Guaracara Refinery in Trinidad and Tobago. According to local media reports, Oando defeated Trinidad’s CRO Consortium and INCA Energy, an…

The Federal Competition and Consumer Protection Commission (FCCPC) has directed MultiChoice Nigeria to maintain its current subscription prices until the ongoing investigation into its proposed price hike is…

Small Business Owners and civil society organisations, NGOs, have said there is no justification for the proposed further hike in electricity tariffs, following disclosure by the Federal Government, yesterday, that…

The Naira yesterday depreciated to N1,495 per dollar in the parallel market from N1,490 per dollar on Wednesday. Similarly, the Naira depreciated to N1,496 per dollar in the Nigerian Foreign Exchange Market (NFEM).…

Investors across the globe are swooping on Nigerian assets as the impact of the Central Bank of Nigeria (CBN) reforms in the financial sector spreads to key sectors of the economy. Nigeria is finally getting a…

Importers of Premium Motor Spirit (petrol) may lose an average of N2.5bn daily and N75bn monthly following the latest PMS price reduction announced by the Dangote Petroleum Refinery. Findings by The Punch revealed…

The migration of affluent individuals and politicians from Lagos to Abuja has sparked the capital city’s real estate boom, driving prices of…

Dangote Petroleum Refinery and Petrochemicals has, again, announced a reduction in its ex-depot…

•Clearing agents threaten to withdraw services There are growing tensions among…

Nigeria’s foreign reserves have dropped by $2. 2 billion amid concerns of the central bank’s support for the Naira and the settlement of over $2…

Nigeria’s digital payments sector has grown rapidly for years, yet contactless payment—common in markets…

Money lost to fraud in Nigeria’s banking system has nearly tripled over the…

Naira has continued to strengthen in recent times on the back of foreign exchange reforms put in place by the Central Bank of Nigeria. While this has provided some relief for the business environment, there are…

Dangote Petroleum Refinery & Petrochemicals has slashed the price of Premium Motor Spirit (PMS), or petrol, for…

As part of its ongoing efforts to enhance the quality of life for households and empower women in underserved communities, GTCO PLC at…