Business

A trading firm of Oando based in Dubai is at the centre of an Iraqi crude oil shipment to Italian oil major, ENI. The crude was suspected to also contain Iranian oil targeted by US sanctions.…

The NNPC has reportedly issued award letters for highly sought-after contracts to exchange crude oil for imported fuel, with some Nigerian oil firms beneficiaries. A total of 15 groupings, with…

Inflation dropped to 11.22 per cent last month, compared to 11.40 per cent in May, the National Bureau of Statistics (NBS) announced yesterday. A separate food price index showed inflation at 13.56 per…

Nigerians spent nearly 3, 124, 026, 959 billion Naira to watch box office movies at the cinemas between January and June, 2019.News Agency of Nigeria reports that the figures were according to data provided by cinemas…

With a wobbling Gross Domestic Product of $1.8 trillion, countries in Sub-Saharan Africa are on the cusp of economic transformation, with the imminent coming on-stream of the $12 billion Dangote refinery and…

Lagos Chamber of Commerce and Industry (LCCI) says the lending policy of the Central Bank of Nigeria (CBN) will normalise the credit markets, spur economic growth and broaden the interface between…

TOTAL of seven leading deposit money banks, DMBs, may now be under pressure to beef up their loan portfolio following a recent directive by the Central Bank of Nigeria, CBN, which requires banks to give out 60 percent of…

Vice-President Yemi Osinbajo says the current administration has invested N900 billion in the power sector since it assumed office in 2015. Osinbajo spoke when he paid a courtesy visit on Chike Edozien, the…

Facebook Inc has been slammed with a hefty $5billion fine by the U.S. Federal Trade Commission following its investigation into the social media company’s handling of user data, multiple sources familiar…

Japan’s Bitpoint is the latest cryptocurrency exchange to be hit by a hack targeting its holdings; the exchange says around 3.5 billion yen ($32 million) of funds were stolen, with 2.5 billion yen…

Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has threatened to sanction any commercial bank inflating interest rate above single, specifically on social intervention scheme anchored by the apex bank.The…

China’s Fosun Group is considering nearly a billion dollar rescue of embattled British tour operator Thomas Cook, the Hong Kong-listed conglomerate confirmed Friday. The Chinese company said in…

Sometimes in 2017, Nigeria’s Former Finance Minister, Kemi Adeosun revealed the Federal Governments (FG) plans to launch a $300 million diaspora bond bid in March 2017. I knew a lot of…

The Central Bank of Nigeria (CBN) has invited service providers to submit Expression of Interest to be accredited to personalised cheque-based stock, under the Nigeria Cheque Standard (NCS) and…

From homes to offices, the consumption of coffee has increased among Nigerians, blending into their lifestyles, particularly in urban centres. There are just two coffee brands leading this drive…

The Federal Government has collected over N10 trillion from the implementation of the Treasury Single Account (TSA) from 1,674 MDAs. Office of the Account General of the Federation (OAGF) made…

In a bid to further stimulate lending to the economy, the Central Bank of Nigeria, CBN, yesterday, said bank deposit placement through its Standing Deposit Facility, SDF, in excess of N2 billion…

Airtel Africa shares dropped by 9.99 per cent on the Nigerian Stock Exchange (NSE) a day after listing, forcing the market indices to close on negative region. Specifically, the stock which…

The U.S. government will issue licenses to companies seeking to sell goods to China’s Huawei where there is no threat to national security, Commerce Secretary Wilbur Ross said on Tuesday, leaving…

In a bid to capture more people in the tax net and boost its revenue, the Lagos State Internal Revenue Service (LIRS) is reportedly planning to start using Biometric Verification Numbers (BVN) to…

Nigeria dominated the maiden edition of African Investment Forum, as West African region grossed the highest value in deals. A report by the African Development Bank (AfDB) has shown the country…

Billionaire rapper Jay-Z has joined the fast-growing cannabis industry, taking a role with California company Caliva as a strategist. Privately owned Caliva, formed in San Jose in 2015, said on…

International Business Machines Corp has acquired software company Red Hat Inc, for USD 34 billion as it looks to ramp up its cloud computing business. It is the company’s biggest acquisition…

After last week’s suspension of listing on the floor of the Nigerian Stock Exchange (NSE), Airtel Africa finally listed on Tuesday in a N1.36 trillion ($4.4 billion) floatation, turning the…