Business

Facebook on Tuesday said the coronavirus pandemic has users flocking to its services while it undermines ad revenue on which the world’s biggest social network depends. Online voice and video calls at Facebook-owned Messenger and…

The Nigerian National Petroleum Corporation (NNPC) has announced an increased trading surplus of ₦5.28billion in its December 2019 operations compared to the ₦3.95billion surplus…

Over the weekend, some Nigerian banks worked out plans to prevent exposure of their staff and curb the spread of coronavirus in the country, POLITICS NIGERIA exclusively gathered. Banking sources told POLITICS NIGERIA that top management…

Bureaux De Change (BDCs) operators  across the country have been directed to comply with the new official exchange rate of N380 per dollar, as well as other provisions of the…

Oil prices fell more than $1 a barrel at the start of the trading session early Monday, as demand outlook for crude remains bleak amidst the coronavirus pandemic. Brent crude futures fell…

Union Bank of Nigeria said on Sunday that some of its workers would work from home from Monday and also quickly denied social media report that it would shut down its daily operations because of the…

Federal Inland Revenue Service (FIRS ) in January 2020 collected tax revenue of N338.1 billion against a tax target of N620.2 billion. The figure represents the aggregate…

Bolaji Abimbola, Managing Director of Integrated Indigo Limited, one of Nigeria’s leading integrated communication firms, has been honoured with the ‘Public Relations Practitioner of the Year Award’. Abimbola, who was…

THE Central Bank of Nigeria (CBN) reportedly fined major banks and bureau de change operators hundreds of millions for committing all forms of infraction including selling foreign exchange to…

Having technically devalued the Naira, the bankers’ committee, yesterday, prioritised access to foreign exchange, asking firms to import only what they need and focus on sourcing raw materials and inputs…

      The Central Bank of Nigeria has reacted to news it has devalued the Naira by as much as 15 percent, moving it from the official price of N307 to N360 and also adjusting the import and export window price from N360 to N380. In a…

When Saudi Arabia, OPEC’s de facto leader and most influential member, decided at its latest meeting in Vienna to break its recent strategic oil…

The Central Bank of Nigeria (CBN) has directed that bureaux de change operators in the country must not sell dollars higher than N380 to end users. This is compared to the previous…

Allocations to the three tiers of government in naira would increase as the federation accounts allocation committee (FAAC) had adopted the N360/$ exchange rate, TheCable can report. This comes after the FAAC meeting ended in a…

The Central Bank of Nigeria has moved the FX sales rate to FPIs to N380.2/$, from N366.7/$, in a move that suggests a technical devaluation of the naira, information available from Bloomberg terminal shows. An analyst in Lagos…

The ad hoc committee of the national economic council (NEC) says distribution companies (DisCos) owe the electricity market N230 billion as a result of inefficient collection system and under…

Bentley will stop car production at its British factory from the end of Friday for four weeks over the coronavirus outbreak, one of the final automakers in Britain to…

The naira exchanged to the dollar for between N372 and N374 at the Bureau De Change segment of the market on Thursday. The naira had recently suffered some beating due to the impact of the…

Nigerian stocks fell 2.94% on Thursday to their lowest level in more than eight years as the number of coronavirus cases in the West African nation rose. Nigeria on Wednesday recorded eight confirmed coronavirus cases. On Thursday…

Guaranty Trust Bank Plc has announced the launch of Beta Health, a low-cost health financing product that offers instant access to health insurance for every Nigerian. The first of its kind…

South Africa’s rand weakened on Wednesday amid mounting fears over the fallout from the coronavirus crisis, while investors awaited consumer price inflation and retail sales data to gauge the health of an already battered…

Two days after it unveiled a six-point palliative to ameliorate the continued impact of the corona virus on the Nigerian economy and supply chains round the globe, the Central Bank…

U.S. President Donald Trump announced a plan on Tuesday to send as much as $1000 to Americans immediately to ease the economic shock from the coronavirus crisis. Treasury Secretary…

Airlines are no longer able to comply with current rules on refunds for cancelled or late flights as the coronavirus pandemic hits the aviation industry. The International Air Transport…