Business

For the first time in four years, Nigeria’s trade position was negative in 2020 as COVID-19 pandemic crushed oil demand, sending the revenue of oil-exporting countries tumbling. Africa’s largest oil producer…

Customers of First City Monument Bank (FCMB) can now seamlessly carry out an array of transactions with just their fingerprints and Bank…

MTN Group has announced the appointment of Chika Ekeji, as Executive, Strategy and Transformation as part of plans to further bolster management capacity to accelerate the Group’s strategic ambitions. Effective March…

The Central Bank of Nigeria (CBN) has directed commercial banks to formally extend repayment of credit facilities given to cushion the COVID-19 pandemic. According to a circular tagged FPR/DIR/PUB/01/001 issued on March 3,…

Companies of United States of America (USA) origin operating in Nigeria invested a total of $3.75billion to expand their operations in the country in the last five years and plans to invest another $2.75 billion in the next…

There will be more money for the 2021 budget implementation as the crude oil price on Monday hit $71/ barrel which doubles the $30 benchmark. But the spike in crude oil price implies that Nigerians will pay more for a…

Alhaji Ibrahim Mai Deribe, the former Managing Director of Cavendish has refuted the misleading media reports about OML 110. According to Deribe, naturally, he…

The Central Bank of Nigeria (CBN) says N600 billion out of the N1 trillion COVID-19 intervention fund for manufacturers is still awaiting disbursement. CBN…

As the 2021 International Women’s Day (IWD21) calls on people and organisations to #choosetochallenge for a better world for women, Guaranty Trust Bank plc (GTBank) has…

Brent crude futures surged above $70 a barrel on Monday for the first time since the COVID-19 pandemic began. This followed reports of attacks on Saudi Arabian facilities.…

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday highlighted the benefits of the newly introduced “CBN Naira 4 Dollar Scheme,” an initiative aimed at incentivising senders and recipients of…

The Central Bank of Nigeria (CBN) has announced the introduction of “CBN Naira 4 Dollar Scheme”, an incentive for senders and recipients of international money transfers. The apex bank in a statement said all…

The Managing Director, Dala Inland Dry Port,  Alhaji Ahmed Rabiu, in Kano State, disclosed that the inland port will cost $27 million and would be completed fully in December. The inland port MD disclosed this on…

One Nigerian businessman who has recently found himself faced with a series of controversies is Barrister Jimoh Ibrahim. An astute investor with interests in the oil and gas, hospitality, aviation, banking, real…

The Central Bank of Nigeria (CBN) says 3.8 million farmers have so far benefited from its Anchor Borrowers’ Programme (ABP). Mr Yila Yusuf, Director, Development Finance Department of the apex bank, made this known in an…

The Board of Directors of FCMB Group Plc has announced the retirement of Mr. Peter Obaseki, the Chief Operating Officer of the financial institution, with…

The price of Brent crude, against which Nigeria’s crude oil is priced, has risen to $68.03 per barrel following the decision of the Organisation of Petroleum Exporting Countries (OPEC) to leave production quotas unchanged.…

First City Monument Bank said it has introduced paperless and card-less transactions at branches, ATMs and PoS terminals. In a statement on Wednesday, it said its…

Square, digital payment firm run by Jack Dorsey, CEO of Twitter, has acquired Tidal, the audio and video music steaming platform owned by Jay-Z, in a deal worth $297 million. Both parties confirmed the acquisition in a…

Cryptocurrency operators are seeking temporary suspension of restriction on their trade. They (traders) have appealed to in the Central Bank of Nigeria (CBN) to partially suspend the ban for six months. In a…

Former chairman of Diamond Bank Board of Directors Seyi Bickersteth is dead, according to a report by Nairametrics. The online medium, quoting multiple sources, said Bickersteth was…

The Federal Inland Revenue Service (FIRS) says it discovered that 6,722 companies, partnerships and enterprises with a banking turnover of N1 billion were not paying taxes as of May 2018. Mohammed Nami, the FIRS executive…

The Federal Government, Tuesday, assured that agriculture is being treated as moneymaking business and to create wealth for agribusiness players. The assurance was made in a keynote address delivered by Regional…

The Securities and Exchange Commission (SEC) has disclosed over 3 million Nigerians have lost about N18 billion to Ponzi schemes and several other illegal…