Business

Matrix Energy has absolved Abdulkabir Aliu, the company’s founder, from any wrongdoing following a report by TheCable that the businessman is behind the importation of petroleum products from Malta and Russia. On…

Former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele allegedly spent N18 billion to print just N1 billion worth of banknotes, a fresh investigation by the Economic and Financial Crimes Commission (EFCC) has…

Leaked documents and extensive interviews with sources have unveiled how Africa’s biggest oil-producing country has been importing substandard petroleum products from Malta, a country with no known oil refineries. The…

Françoise Bettencourt Meyers, the world’s richest woman and heiress to the L’Oréal fortune, has experienced a significant financial setback of $13.1 billion in 2024. Over the first seven months of the year,…

The federal government says its dollar-denominated domestic bond will be issued on Monday. Gbadebo Adenrele, managing director of investment banking, at United Capital Group, spoke on Thursday during a…

In a finely balanced oil market, Nigeria has suddenly reemerged as a key player. During the past few weeks, actions by the country’s massive Dangote refinery have moved prices, with purchases of US barrels…

NASCON Allied Industries Plc, a subsidiary of Dangote Industries Limited, as part of its social investment initiatives, during the week commissioned and handed over a borehole…

The Economist Intelligence Unit has issued a warning that further delays in crude oil feedstock to the Dangote Petroleum…

A Federal High Court in Abuja has denied a motion by the Inspector General of Police (IGP) seeking an order to compel approximately twelve banks and financial institutions to reverse billions of naira that were…

The Central Bank of Nigeria’s (CBN) latest Purchasing Managers’ Index (PMI) report for July 2024 reveals that the Composite Employment Index continued its downward trend for the seventh consecutive month,…

…decries 37% bank interest annually The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said…

President Bola Tinubu, on Wednesday, approved the implementation of zero percent import duty and exemption of value-added tax (VAT) on basic food items. This is according to a circular seen by BusinessDay on…

Justice Akintayo Aluko of Lagos Federal High Court, Wednesday ordered the interim forfeiture of N190, 277,634.2 million and $70, 811,…

The Naira, yesterday, depreciated to N1,595 per dollar in the parallel market from N1,590 per dollar on Tuesday. Similarly, the Naira depreciated to N1, 586.04 per dollar in the Nigerian Autonomous Foreign Exchange…

Dangote Cement Plc has launched a novel Internship Scheme for students of tertiary…

Fidelity Bank has surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the programme.   In an email to investors, the Managing Director of the Bank, Nneka Onyeali-Ikpe…

Nigeria’s manufacturing sector has some of the most influential and richest men in the country. Oba Otudeko, who clocks the golden age of 80 on Friday (today), is a well-known industrialist. Otudeko may be the chairman,…

*Telcos threaten to adopt load-shedding formula in telecom services *NCC kicks, says subtle threat wrong approach to tariff hike campaign *Subscribers’ll hold regulator accountable if load-shedding…

The Dangote Petroleum Refinery says it has not fixed its petrol price. Reports had claimed that oil marketers projected that petrol from the refinery would be sold at N600 per litre. However, Anthony Chiejina, group…

The Central Bank of Nigeria (CBN)’s decision to back the takeover of Unity Bank by Providus Bank was driven primarily by concerns over the potential impact of the bank’s collapse on the northern region of Nigeria,…

In the storied corridors of First Bank Holdings, Nigeria’s oldest bank, a battle of titanic proportions is brewing over the single largest shareholder of the bank. First Bank Holdings in its audited accounts…

Nigeria is currently widely believed to be losing 20 to 40 per cent of its rice at harvest points and market stages, an investigation by Premium Times has revealed. Beyond food wastage, postharvest losses…

Karl Toriola, chief executive officer (CEO) of MTN Nigeria, says the country’s telecommunications sector is “in a deep crisis”. Toriola spoke on Tuesday at the telecom investment forum organised by Financial…

The Nigerian government has frozen more than $37 million worth of cryptocurrency held in wallets believed to be owned by some organisers of #EndBadGovernance protesters. The freezing followed an order by the…