Business

Guaranty Trust Bank (GTB) has lowered the international spending limit on its naira Mastercard to $100 a month. This was contained in a notice sent to customers on Wednesday. This development affects online, POS and ATM activities…

Our attention has been drawn to widely circulating stories incorrectly stating that our Managing Director, during a recent presidential hearing in Abuja, testified that the bank mistakenly…

First City Monument Bank sustained new strengths in operations in the second quarter despite the challenges of the Covid-19 economic lockdown. The bank kept all the growth levers up…

AXA Mansard Insurance Plc has divested from its subsidiary, AXA Mansard Pensions Limited. The insurer has sold its stake in the company to Eustacia Limited (a member of the…

Twitter Inc has approached TikTok’s Chinese owner ByteDance to express interest in acquiring the U.S. operations of the video-sharing app. According to Reuters, the talks…

The Central Bank of Nigeria (CBN) has asked commercial banks to share their customers’ data with financial technology (Fintech) companies to increase access to financial services and…

Facebook’s CEO has joined Amazon’s CEO, Jeff Bezos, and Microsoft’s founder Bill Gates, as the only people with centibillionaire status. According to the Bloomberg Billionaires Index…

Ecobank has stated that cash withdrawals can be made at all its ATMs, without a card. The Ecobank cardless withdrawal concept, Xpress Cash, enables users to withdraw cash from ATMs using only a…

The total debt owed telecos through use of Unstructured Supplementary Service Data (USSD) by deposit money banks (DMBs) has risen to N17billion, The Nation has learnt. The telecoms operators and banks had…

OIL climbed to a five-month high in London, topping $45 a barrel after United States (U.S.) industry data showed a decline in the nation’s stockpiles. Brent for October settlement rose to…

FCMB Group Plc has again proved its resilience and capability to deliver outstanding performance and returns to customers and shareholders going by the half year results of the…

Virgin Atlantic Airway has filed for bankruptcy, as the aviation industry continues to be ravaged by the coronavirus pandemic. The Virgin Group airline filed for Chapter 15 bankruptcy in…

Choppies Enterprise Ltd. is shutting down its supermarkets across several African nations in a bid to concentrate on growth in Botswana, where it is listed, as well as other southern African…

Following the successful acquisition of the Bajaj franchise by the Stallion Group recently, the latter is taking proactive and preventive measures to make sure, contact between the Keke operator and…

Global energy giant BP on Tuesday reported a post-tax loss of $6.7 billion dollars in the second quarter amid lower oil prices and writedowns. The loss compared to a post-tax…

The imbroglio between Nigeria Postal Service (NIPOST) and the Federal Inland Revenue Services (FIRS) over jurisdiction in respect of stamp duty collection worsened on Tuesday. Director Communication…

CEMENT producer BUA Cement, on Monday, announced an impressive 2020 half-year revenue of N101.3 billion and a Profit after Tax (PAT) of N34.82 billion. These represent an increase of…

Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary.  In a trading update filed at the Johannesburg Stock…

Microsoft Corp has confirmed talks with ByteDance to acquire the U.S. operations of the Chinese-owned short-video app TikTok. The U.S. tech giant formally declared its interest on Sunday…

When Shoprite leaves Nigeria, its assets will most likely be handed over to a Nigerian. The Nation has confirmed “discussion is ongoing and at advanced level to dispose their…

The on-going Dangote ‘Bag of Goodies Season 2 Consumer Promo’ has triggered excitement in the country as more winners continue to emerge, winning millions of Naira, goodies bags, recharge cards, and several others mouthwatering…

Africa’s biggest grocery retailer, Shoprite, is exiting the continent’s most populated country, Nigeria, after 15 years. The Cape Town-based retailer has started a formal process to consider the…

•Heavy consumers to pay exit fees as NERC releases new rules Ten out of the 11 electricity distribution companies (Discos) in Nigeria’s power sector have said that they will take part in a planned…

Deposit Money Banks on August 1 commenced the implementation of the Central Bank of Nigeria’s Global Standing Instruction which allows them to recover outstanding debts of debtors from other…