Business

The Board of FirstBank has approved the appointment of Mr Olusegun Alebiosu, currently Acting Managing Director/Chief Executive Officer, as the Managing Director/Chief Executive Officer, of FirstBank Group; Ini…

…economic woes, high debt fueling exit …African Industries, Bharti bidding Indian steel maker, Aarti,…

A Federal High Court in Abuja, today, dismissed a fundamental rights enforcement suit filed by fleeing Binance Holdings Ltd’s executive, Nadeem Anjarwalla, against the National Security Adviser, Mallam Nuhu Ribadu and …

Documents have shown how the $6,230,000 cash allegedly stolen from the Central Bank of Nigeria (CBN), on February 8, 2023, was shared. President Bola Tinubu had set up a special investigative team, led by Jim Obaze, to…

Nigeria has been projected to lose 300 millionaires at home to another country in 2024, according to a report on migration by Henley & Partners.  According to the report seen by Nairametrics,…

Mr. Sam Onukwue is the Chairman of the Association of Securities Dealing Houses of Nigeria (ASHON) and a Fellow of the Chartered Institute of Stockbrokers (CIS).  In this interview with Nairametrics, he…

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, has added 17 new deep offshore oil blocks to the 2024 oil bid round, bringing the total blocks on offer to 36. The blocks which are located across onshore…

As United States and Europe-based multinationals exit Nigeria, Asian and local companies are stepping in to fill the void, Bloomberg reports. Last week, London-based Diageo Plc sold its controlling stake in Guinness…

Struggling telecommunications company, Ntel is preparing to bounce back with the appointment of a former MTN Nigeria CEO, Adrian Wood, to lead the company in its restructuring and rebranding bid.  To that effect,…

The growing smartphone penetration in Nigeria and a shift towards mobile applications as the preferred means of conducting transactions is driving online transfers, relegating ATM transactions to the background. The…

Nairametrics can confirm that Femi Otedola, chairman of FBN Holdings and principal owner of Geregu Power, has settled his dispute against Zenith Bank, which was previously filed before a Federal High Court.…

Although the Lagos State government is making efforts to encourage investment in real estate and improve the ease of doing business in that sector, investors are still uncomfortable with the multiple requirements…

Pay-TV operator, Multichoice recorded significant growth in its betting business in Nigeria for the financial year ended March 31, 2024, as users of its betting platform, KingMakers, increased by 37%.  The company disclosed…

…As market share rises to 28-month high The Central Bank of Nigeria, CBN, monetary policies may have whetted the appetite of Foreign Portfolio Investors, FPIs, as fresh inflows amounting to N120.8 billion…

Guinness Nigeria Plc has debunked insinuations that it is exiting the Nigerian market following the sale of the majority shareholding by Diageo, a British multinational alcoholic beverage company. In a statement, the…

Fidelity Bank Plc will launch its N127.1bn capital raise via a public offer and rights issue on June 20, 2024. The lender stated that it had signed the necessary documentation to raise about N127.1bn from a public offer…

Nigeria’s inflation rate surged to 33.95% in May 2024, up from 33.69% in April 2024, according to the latest Consumer Price Index (CPI) report released by the…

A crypto-exchange company, Binance Nigeria, has expressed relief over the Nigerian government’s dropping of tax evasion charges…

Several media reports stating that a $400 million Exchange-Traded Fund (ETF) owned by BlackRock is “leaving” Nigeria is not true.  The ETF in question is the iShares Frontier and Select EM ETF (The Fund) and was…

As Nigerians wait for the transmission of a new National Minimum Wage Bill to the National Assembly by President Bola Ahmed Tinubu, employers and workers across the country are holding their breath over the final…

At least three shipping companies, acting as collection agents for the Nigerian Maritime Administration and Safety Agency (NIMASA), have allegedly colluded with some management staff of the agency to evade the…

The Federal Government has warned Nigerians against investing in the crypto token of music star, David Adeleke, better known as Davido. Last month, Davido announced the launch of the crypto token or memecoin…

The House of Representatives and the National Agency for Food and Drug Administration and Control have resolved to lift the ban on the sale and consumption of sachet alcoholic beverages in the country. The deputy…

The Federal High Court on Friday discharged Tigran Gambaryan, a 39-year-old American, and fleeing Nadeem Anjarwalla from the  Federal Inland Revenue Service (FIRS) tax evasion case against the cryptocurrency exchange…