Business

…Awarded: • SME Financier of the Year (Africa) • Platinum Award for Best Financier for Women Entrepreneurs (Africa) Wema Bank, Nigeria’s foremost innovative bank and…

The Nigeria Inter-Bank Settlement Systems (NIBSS) has revealed that Nigerians spent a total of N89.5 trillion over electronic channels in July 2024. According to the latest e-payment data, the July record came as…

Stakeholders have reacted to the decisions of the MPC raised concerns over the 27.25 per cent increase in benchmark interest rate.…

The Nigeria Inter-Bank Settlement System (NIBSS), has revealed that the number of active bank accounts in Nigeria rose to 231.1 million in July 2024. Previous NIBSS data showed that active bank accounts in the…

The Central Bank of Nigeria (CBN) has announced that it will sanction banks failing to dispense cash through their automated teller machine (ATMs), as part of efforts to ensure sufficient cash in circulation. CBN…

The Central Bank of Nigeria (CBN) has projected that the lifting of refined petroleum products from the Dangote Refinery will lower transportation costs, curb inflation, and strengthen the country’s foreign reserves.…

Nigeria’s Central Bank stunned the global financial community on Tuesday when its Monetary Policy Committee (MPC) voted unanimously to raise the Monetary Policy Rate (MPR) by 50 basis points, bringing it to 27.25%. In…

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the multiple interest rate hikes have restored confidence in the naira.…

Nigeria’s external reserves have increased yet again, reaching $39.07 billion as of September 19, 2024. This is according to the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, at a press briefing at the…

The Central Bank of Nigeria (CBN) has alluded that there is a correlation between monthly disbursement from the Federation Account Allocation Committee (FAAC) and liquidity in the banking system stating that it impacts…

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has clarified the reasons independent marketers are unable to purchase petrol directly from Dangote Refinery. The association’s…

The Central Bank of Nigeria (CBN) Monetary Policy Committee has decided to further raise interest rate by 50 basis points to 27.25%.   The Governor of the CBN who doubles as the Chairman of the MPC disclosed this at the end…

•Reveals he has two oil blocks, but won’t invest heavily in upstream segment •NNPC has pledged to give us 390,000 bpd in October, says Africa’s richest…

The Federal Ministry of Finance and the Nigeria Customs Service (NCS)’s red tape is stalling the zero food import policy take-off two months after its announcement. President Bola Tinubu had approved the regulation for…

The Central Bank of Nigeria (CBN) has commenced the process of appointing substantive directors to replace those who were relieved of their appointments, including some who retired about 11 months ago. An internal…

•Expert says Nigeria is emerging global key player•Depot owners commence lifting …as Rights Group accuses marketers of price manipulation THE Organisation of Petroleum Exporting Countries, OPEC, has said…

The National Bureau of Statistics, NBS, has said that the average retail price of Automotive Gas Oil, AGO, otherwise known as Diesel, increased Year-on-Year, YoY, by 64.58 percent to N1,406.05 per liter in August 2024…

Nigerian billionaire Aliko Dangote said the “time is right” for the West African nation to end a decades-long subsidy on fuel, as gasoline production at his mega refinery near Lagos helps to ease pressures on the…

The Naira has lost over half of its value in one year since Yemi Cardoso assumed office as the Governor of the Central Bank of Nigeria (CBN).…

Access Holdings Plc, reported a revenue of N2.2 trillion even as it declared 45 kobo interim dividend per share in its half-year audited financial results for the period ended June 30, 2024. The results…

As inflation bites harder, construction works at different sites across the country have slowed down as the real sector is grappling with multiple inflation, stagflation and general free fall of the Naira which…

With the rising cases of job losses and high cost of living, property owners are bearing the brunt of the economic crisis as residential tenants in the highbrow and high-density areas are having a hard time paying their…

Crude Oil Refiners Association of Nigeria, CORAN, has told the Nigerian Government to peg foreign exchange at N1000 per dollar to crash the price of Dangote…

Nigeria’s external reserves, which represent the country’s stock of foreign currency, have reached a 22-month high of $37.31 billion, reflecting significant foreign inflows into Africa’s largest economy.…