Business

The Chairman of FBN Holdings and acclaimed strongman of the financial and capital markets, Femi Otedola has thrown his weight behind the implementation of a windfall tax, emphasizing its importance in creating a…

The suspension of Arik Air operations is posing a threat to the production of about 200,000 barrels of…

Banking giant HSBC said Wednesday that pre-tax profits in the first half of 2024 came in at $21.6 billion, slightly lower than last year’s record performance. “After delivering record profits in 2023, we had another…

Telecommunications company, MTN Nigeria, recorded a loss after tax of N519 billion in the first half of…

The naira fell to a four-month low on Tuesday at the official window as it traded at 1621. 12/dollar compared to N1611. 40/dollar on Monday. This marked a 0.60 per cent depreciation from the previous day’s…

Nigeria’s oldest financial institution, FBN Holdings, released its 2024 second-quarter results, showing a pre-tax profit of N177.79 billion, representing an 18.9% year-on-year growth. The impressive growth in…

Bank customers have thronged their banks to reactivate their dormant accounts in line with the Central Bank of Nigeria guidelines on the management of dormant accounts and unclaimed balances.Some of the customers,…

The Nigerian National Petroleum Company Limited has announced its goal to increase crude oil production to 2 million barrels per day by the end of the year. The country’s daily production rose from 1.27…

Nigerians are facing further economic strain as the cost of refilling cooking gas cylinders continues to escalate. Recent investigations reveal that in Lagos, the price to refill a 12.5 kg cylinder has surged to…

The average cost of cooking a pot of jollof rice increased by 19.6%, from N16,955 to N20,274, between March and June 2024.  This is according to the latest edition of the SB Morgan Jollof Rice Index, which stated…

Zenith Bank Plc is set to raise N290 billion through a combination of a rights issue and a public offer as in compliance with the new minimum capital requirements for Nigerian commercial banks introduced by the Central…

Oil and gas experts have said that President Bola Ahmed Tinubu’s recent order to the Nigerian National Petroleum Company Limited on sale…

The Organised Private Sector of Nigeria (OPSN) has urged the federal government and the promoters of #EndBadGovernance protest to embrace dialogue “to achieve meaningful and lasting solutions for the benefit of…

President Bola Tinubu has directed the Nigerian National Petroleum Company Limited to sell crude to Dangote Refinery and other upcoming refineries in Naira. The Special Adviser to the President on Information and…

Next of kin, legal representative, or beneficial owner have been cleared by the Central Bank of Nigeria (CBN) to make claims on unclaimed balances or funds in dormant accounts. The clarification was made by the…

• Concerns over $8b loans, JV debts amidst worsening oil production• Politically-constituted board worry stakeholders• $2.9b PH, Warri, Kaduna refineries in limbo• ‘Rationalise portfolios, sack current management,…

The Nigerian Democracy Working Group has cautioned government officials against any actions targeting the Dangote Refinery, stressing that such attacks would harm Nigeria’s reputation and deter foreign investors.…

Donald Trump the 45th president of the United States and the current flagbearer for the Republican party in the November presidential elections has pledged to make the US, the crypto capital of the world at…

Aliko Dangote, Africa’s richest man, saw his wealth valuation dip significantly in dollar terms amid the naira devaluation and recent sell-offs in Dangote Cement. The Kano-born billionaire lost $651…

Telecommunications company, 9mobile, on Sunday, announced its acquisition by a new investor, LH Telecoms Limited.   The acquisition of majority shares in the Nigerian telecom company was approved by the…

The National Industrial Court, Lagos Division, has ordered Ecobank Nigeria Limited to pay the sum of N1,086,611,589.11 to 1,742 former employees of the defunct Oceanic Bank. The ex-employees were allegedly…

...Warn IOCs against economic sabotage …Urge FG to end…

Emerging Markets Telecommunication Services Limited, operating under the trade name 9Mobile, has been acquired by a UK company, LH Telecommunication Limited.  According to a statement issued on Sunday by the…

Nigeria’s total import from Malta rose from zero to about N1.03 trillion in 2023, according to an analysis of the foreign trade statistics reports released by the National Bureau of Statistics (NBS).  …