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Nigerian banks closed 234 branches, 649 ATMs amid COVID-19 pandemic – IMF
The International Monetary Fund (IMF) says Nigerian banks closed 234 branches and 649 automated teller machines (ATMs) in 2020 amid the COVID-19 outbreak. The IMF said this in its 2021…
CBN to roll out eNaira app for persons without bank accounts, says Bitt CEO
The Central Bank of Nigeria (CBN) will soon roll out an eNaira application for persons without bank accounts to boost financial inclusion. Brian Popelka, chief executive officer (CEO)…
Nigeria’s Imports Via Benin Drops By 95% In 3 Months
The volume of imports into Nigeria through its neighbour, Benin Republic, has continued on a downward slide through July and October 2021, falling by as much as 95 percent due…
International airfares rise as naira crashes on IATA platform
The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on the air ticket pricing template of the International Air Transport…
Dangote Cement’s Revenue Crosses N1trn In Nine Months
Dangote Cement Plc, the largest Cement producer with nearly 48.6Mta capacity across Africa, published nine-month results, showing a strong 34.2 percent and 49.1 percent year-on-year…
Oil prices rise to $84 a barrel ahead of OPEC+ meeting
Oil prices continued to surge ahead of Thursday’s meeting of the Organisation of Petroleum Exporting Countries (OPEC) and its allies (OPEC+). Oil price increased by 1.36…
e-Naira: Buhari’s Supporters Demand Emefiele’s Resignation
A group supporting President Muhammadu Buhari, Nigeria First Movement, NFM has blamed the Central Bank Governor, Godwin Emefiele for the nation’s economic woes, noting that the…
The 37-Year-Olds Are Afraid of the 23-Year-Olds Who Work for Them
As a millennial with a habit of lurking on TikTok, Jessica Fain understood that skinny jeans and side parts were on the steady march toward extinction. But when Fain, who works as a…
Four Nigerian Billionaires With Over N129.50billion You Should Know: Three Are Big Bank Owners
Business headlines in Nigeria are flooded with names like Aliko Dangote, Rabiu Abdulsamad, and Adenuga, but the private sector has more Nigerian billionaires you don't know…
West Ham in talks with Czech billionaire over £150m stake
West Ham United are in advanced discussion with Czech billionaire over a deal to buy a minority stake in the club, which could help alleviate the Hammers’ debt and pave the way for…
Banks begin deduction of loans from chronic debtors’ accounts
The Deposit Money Banks are recovering debts owed by chronic debtors from their accounts in other banks to curb the growth of non-performing loans in the industry, findings…
Dangote Cement records N405.5bn profit before tax
Dangote Cement Plc has announced that its profit before tax for the nine months ended September 2021 rose to N405.5bn from N271.96bn in the corresponding period of 2020. The…
Dangote to delight participants at 2021 Lagos Trade Fair
Africa’s foremost indigenous conglomerate, Dangote Industries Ltd is adding verve to 2021 Lagos Trade Fair which begins this week with five companies from the group participating in the…
Scramble for First Bank shares continues
The shares of First Bank Holdings of Nigeria (FBHN) remained the most keenly contested shares among investors on Thursday with 162 million units traded, the most of any company for the…
No FX for barite as FG to ban import
The Federal Government will soon place a ban on further importation of barite, a move that would save $300 million every year in foreign exchange (FX). This is as 12 barite…
Currency Swap: Nigerian Banks To Begin Operation In China – Envoy
The Chinese Ambassador to Nigeria, Cui Jianchun, said Nigerian banks would soon start operations in China to facilitate trade and investments. Jianchun who disclosed this…
Stitch, South Africa-based fintech firm, expands to Nigeria after raising $2m funding
South Africa-based application programming interface (API) fintech company, Stitch announced plans to expand to Nigeria after raising a $2 million seed extension. The new funding…
BREAKING: Facebook Changes Name To Meta In Major Rebrand
Facebook has changed its name to Meta as part of a major rebrand. The company, which announced the change at its annual developer conference, said it would better “encompass” what the…
eNaira speed wallet back on Google Play store — 24 hours after removal
The eNaira speed wallet application, which was pulled down from the Google Play store, is back online after 24 hours. The app disappeared from the Google Play store on Wednesday after…
BREAKING: FBN Holdings appoints Nnamdi Okonkwo as GMD
The board of FBN Holdings Plc (FBNHoldings) has appointed the immediate past managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo as its group managing director. Okonkwo’s…
Panic As Bitcoin Crashes, Swallows Millions Of Pounds In Cryptocurrency Markets
Bitcoin’s price has crashed yet again, wiping hundreds of millions of pounds from cryptocurrency markets and sending traders into a huge panic. The world’s most popular cryptocurrency…
Hassan-Odukale built First Bank majority stake in less than a year
Tunde Hassan-Odukale, through direct and indirect shares, built a majority shareholding in FBN Holdings plc (FBNH), to gain controlling stake in the financial holding company…
FX inflow to Nigeria rises to $3.08bn in July – CBN
Net foreign exchange (FX) flow through the Nigerian economy increased to US$3.08 billion in July 2021 from US$2.38 billion in June 2021, according to the Central Bank of Nigeria (CBN).…
NGX queries FBN Holdings over Hassan-Odukale’s shares
The Nigerian Exchange Limited (NGX) has queried FBN Holdings Plc, the holding company of First Bank of Nigeria, for classifying the shareholdings of Tunde Hassan-Odukale and…