Business

Investors’ interest in the equity market spurred yesterday as the all-share index (ASI) surged by 50bps, closing at 25,783.02 points. This comes after the monetary policy cut rate by 100bps to 11.5 percent and adjusted the…

The federal government has put one of the jets in the presidential fleet up for sale. The Hawker 4000 aircraft with registration number, 5N-FGX/: RC 066, was advertised for sale in a call for bid published in some national…

Nigerians increasing their use of BTC is no longer news, but what seems astonishing is the volume that they transact with BTCs weekly, compared to other African countries. Data shows that the use of Bitcoin for peer to peer…

Africa’s largest cement manufacturer, Dangote Cement has grown the wealth of its shareholders, paying over N 1 trillion as dividends in the past seven years. According to the cement company’s…

Did you travel to the UK and urgently need some FX to fund your debit card? Sorry, you now have to return to Nigeria, buy the dollar, pay into your card and return to the UK to continue…

The monetary policy committee of the Central Bank of Nigeria (CBN) has announced that the monetary policy rate (MPR), which determines interest rate, will be reduced by 100 basis points from 12.5 percent to 11.5 percent. Godwin…

There’s a popular misconception that banks are the only ones with account holders’ banking information such as their Bank Verification Number and card details. No doubt, they become the first to…

Investors fell over one another to lend to the government at a rate that was materially lower than inflation — which would leave them with 10 percent less of their money in real terms at the time…

A new report by Oxford Business Group (OBG) has revealed how Kaduna State, Northwest Nigeria attracted $2.61 billion Foreign Direct Investment (FDI) in the first six months of 2020. The report was produced in…

THE Central Bank of Nigeria (CBN) has launched a massive investigation into foreign exchange transactions by 71 companies after preliminary reviews raised suspicions of possible infractions and…

Transcorp Hotels, owners of one of Nigeria’s largest hotel Transcorp Hilton reports it loses about N1 billion every month due to the Covid-19 pandemic. This was disclosed by the…

President Trump on Saturday night disclosed that he had approved in principle a deal in which major Oracle and Walmart would partner with TikTok in the U.S, thereby allowing the fast-growing…

The Premier League clubs face losses of up to 700 million pounds ($906.78 million) if matches continue to be held behind closed doors. The Premier League, however, has written to the British…

The Nigerian National Petroleum Corporation (NNPC) says its trading surplus increased by 860 percent from N2.12 billion in June to N20.36 billion in July 2020. The figures are contained in the recently released…

Enyo Retail and Supply has introduced a secure, automated fleet and fuel management solution called Velox. Velox is a wallet-based payment solution, which offers customers the…

Apple has responded to Epic’s demands that the iPhone-maker restore Fortnite to the App Store in new legal filings, arguing that the company’s injuries are “entirely self-inflicted” and that Fortnite can return to iOS at any…

The Central Bank of Nigeria has given some commercial banks instructions to allow betting and gaming companies suspended earlier in the month the approval to honour withdrawals from their…

Barcelona forward, Lionel Messi has been named the second professional footballer to earn $1 billion in his career. This is after his rival, Cristiano Ronaldo was listed the first…

Nigeria’s Securities and Exchange Commission (SEC) on Monday designated the title of “securities” to crypto assets and hence will be regulated by it. According to the capital market…

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said when Dangote Refinery kicks off next year, it may not significantly reduce the price of petrol because the refinery will be selling at the…

Nume Ekeghe writes on efforts by the Central Bank of Nigeria to sanitise the foreign exchange market and stabilise the value of the naira, which has come under…

Whether it’s the Republican candidate Donald Trump or Democratic candidate Joe Biden, the winner of the forthcoming United States presidential elections in November would play a big role…

A source in the Central Bank of Nigeria (CBN) has explained why the apex bank approved four companies to import maize despite an earlier memo placing maize on the list of items not…

The naira exchanged to the dollars for N440 in the parallel market on Thursday, despite the resumption of forex sales to the Bureau de Change Operators on Monday. The naira…