Business

The Central Bank of Nigeria (CBN) yesterday suspended its FX Price Verification System (PVS) portal, effective July 1. The discontinuation came 10 months after the portal’s launch in August last year. The PVS…

CBN targets strong banks capable of supporting govt’s $1tr GDP by 2030 Ongoing bank recapitalisation will not be business as…

Femi Otedola has acquired additional 1,228,141 shares of FBN Holdings Plc at N20.30kobo per share. He also acquired 7,965,198 shares of FBN Holdings at N19.90kobo through Calvados Global Services Limited, a company…

The United States announced Wednesday a reward of up to $5 million for information that could lead to the arrest of fugitive Bulgarian-born “cryptoqueen” Ruja Ignatova. The US ambassador to Bulgaria, Kenneth Merten,…

The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that the country recorded a total foreign exchange inflow of about $24 billion in the first quarter of 2024. Cardoso made this disclosure in a…

The Central Bank of Nigeria (CBN) has disclosed that the worst is over for the Naira’s fluctuations. CBN governor, Olayemi Cardoso, struck an optimistic tone regarding the naira’s stability in a recent interview with…

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has stated that Standard Chartered Bank has…

Aarti Steel Nigeria has reportedly shut down operations in the country, citing economic pressure as the reason for its decision. The company which produces roofing sheets has been in business in Nigeria for more…

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent…

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele,  has disclosed that traders in the pure water (sachet water) business in Nigeria pay at least six to seven taxes a day.…

The Nigeria Customs Service (NCS) has maintained N1,474.09 per dollar as the foreign exchange (FX) rate for import tariffs and duties for over a week. The current rate has remained the same for the past 10…

Retail Supermarkets Nigeria Limited (RSNL) an operator of the Shoprite franchise in Nigeria has announced the closure of its Wuse Store…

Nigerians borrowed N1.22 trillion over the past year as a surge in digital lenders improved access to credit for many grappling with worsening economic conditions. Between January 2023 and January 2024,…

The Central Bank of Nigeria (CBN), on Monday, unveiled new measures to boost naira liquidity and raise…

Dangote Oil Refinery’s highly anticipated foray into the petrol supply market in July could be delayed due to a shortage of crude oil, industry sources have revealed. The 650,000 barrels per day (bdp)-capacity…

Increased loan inflows improved capital importation into Nigeria in January 2024 by 19 percent month-on-month, MoM, to $330 million from $280 million in December 2023. The Central Bank of Nigeria, CBN, disclosed this…

Pricewaterhouse Coopers (PWC) has projected that Nigeria will witness a significant decline in reinvestments, a reversal in revenue growth rate, and decreased profit margins, resulting in lower tax revenues due to…

The Nigeria Inter-Bank Settlement System (NIBSS) server has experienced downtime for the third time this year, leaving bank customers frustrated. Social media is buzzing with complaints from numerous customers…

Femi Otedola, the chairman of FBN Holdings, has once again increased his stake in the company, further cementing his position as the single largest shareholder of the financial services giant. In a notice to the…

Conflict and power tussle between two super exchanges in the capital market over the control of the Central Securities Clearing System (CSCS) Plc may trigger a new wave of instability in the capital market, The…

Fidelity Bank Plc started its N127.1 billion combined rights and public offers to a rousing support from…

The Federal High Court sitting in Lagos has granted Union Bank Plc. an interim order of Injunction restraining Swift Networks Limited and its…

Credit facilities borrowed by Nigerians from banks rose to N3.82 trillion in January 2024 amid rising inflation and harsh economic realities.…

The Nigeria Inter-Bank Settlement System, NIBSS, has appointed Ebehijie Momoh as the Managing Director of its subsidiary,…