Business

The new project will go head-to-head with Nigeria's other large scale refinery project, being built by the Dangote Group. France’s largest hydrocarbons group Axens has won a contract to license key refinery…

Zoom shares soared on Monday after the video-meeting service reported that quarterly revenue rocketed as its ranks of users more than quadrupled. The Silicon Valley-based company that has become a popular way to work, learn or…

The minimum interest payable on savings deposited in banks across the country will be at least 10 percent per annum of the monetary policy rate. In an August 31 letter to deposit money banks signed by Bello Hassan,…

OIL prices rose on Monday with Brent topping $46.50 reaching its highest level in over five months. Strong crude demand from China has been one of the most important drivers in the ongoing…

Banking sector’s credit to the private sector rose by N757 billion or 2.57 per cent to N30.189 trillion as of July 2020, compared with the N29.432 trillion it was at the end of June. Latest money and credit statistics…

Cyber attackers have downed the website of the New Zealand Stock Exchange for the fifth day in a row. The attack, which started last week hit the bourse’s ability to operate normally. The…

The Nigerian National Petroleum Corporation, NNPC, said yesterday that the N5.35 billion it incurred from payment of marketers in June 2020 was not under-recovery but differentials  in Petroleum Product Pricing…

The naira has strengthened by 1.3 per cent against the dollar in the official market as the Central Bank of Nigeria (CBN’s) plan to resume forex sales to Bureaux de Change (BDCs) begins…

Billionaire Harry Ayoade Akande towers above many of his contemporaries, particularly because he has been in a warm embrace of fame for many decades. Beyond his famed…

The Board of Polaris Bank Limited and the Asset Management Corporation of Nigeria (AMCON), its shareholder, have tapped Mr. Innocent Ike as the Acting Managing Director/CEO of the bank and may have…

Customs agents in the country have called on the federal government to urgently review the valuation method on imported vehicles in line with customs law and articles VII of the World…

TAJBank, Nigeria's most innovative Non-Interest Bank, has announced the launch of its 4th (fourth) branch in Sokoto State recently. The launch which held at the TAJBank office in Sokoto State…

On a peninsula east of Lagos, 30,000 workers are employed on a project that holds out the promise of transforming Nigeria’s economic fortunes. It’s here that Aliko Dangote, Africa’s richest man, plans to spend more than his net…

Ethiopian Airlines Group has completed a new passenger terminal at its hub in Addis Ababa Bole International Airport with emphasis on biosecurity and biosafety measures. The new terminal has a check-in…

In a move to strengthen the naira, the Central Bank of Nigeria (CBN) plans to resume dollar sales to Bureau De Change (BDC) operators on September 7. The BDCs are to get $10,000 twice…

Nigeria’s Akinwumi Adesina has been re-elected as the President of the African Development Bank President for a second five-year term. The election took place electronically on Thursday at the virtual annual general meeting of the…

OnlyFans has just reported that in her first 24-hour debut, actress Bella Thorne has grossed over $1 million USD through revenue on the platform. Teasing her move to join the platform last week, Thorne made it clear that she would not be…

Since 2017 when he became the world’s richest man, Amazon CEO Jeff Bezos, keeps deepening his wealth numbers, while rivals are left to trail. According to the latest Bloomberg…

The African Development Bank (AfDB) has raised its capital base to $115 billion and instituted strong corporate governance systems, its President, Akinwumi Adesina has said.…

•President approves cost-reflective tariffs The Central Bank of Nigeria (CBN) has directed deposit money banks (DMBs) providing bank guarantees to Nigeria Bulk Electricity Trading (NBET) Plc and the Transmission Company of…

The world’s biggest pension fund posted a record loss in the first three months in the year after the coronavirus pandemic sparked a global market rout in the period, The Economic…

The Central Bank of Nigeria (CBN) has directed banks to provide the submit the names, addresses and bank verification numbers (BVN) of exporters that have defaulted in repatriating their…

Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Joshua Abiodun Faleye, the chief promoter of Jabfal Enterprises Limited over N440 million debt. The…

The Central Bank of Nigeria (CBN) says it will no longer approve payment of foreign exchange to form M applicants who do so through a company and agent, thereby eliminating third…