Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Business
Nigeria’s richest banker, Jim Ovia makes $13 million from Zenith Bank stake in 8 days
Jim Ovia, renowned as Nigeria’s richest banker and a key figure in the country’s banking industry, has experienced a significant surge…
Nigeria’s currency in circulation hits 10-month high
The currency in circulation in Africa’s biggest economy rose to the highest in 10 months, a BusinessDay analysis has shown. According to the data from the Central Bank of Nigeria (CBN), the currency in…
BREAKING: Old, new naira notes to co-exist until further notice, s’court rules
The supreme court has ruled that old and new naira notes will co-exist as legal tender until further notice. In March 2023, the supreme court had…
Diesel prices crash to N978 per liter in Nigeria weeks before Christmas
Diesel prices have hit N978 per litre as of Tuesday, November 28. This is according to data shared by HydroCarbon Information Services (HydroCIS) Limited. According to the data, average diesel prices around…
Bank Recapitalisation: Presidency Backs CBN, Investors Rush For Mega-Banks Stock
•We must address banks capital adequacy to grow economy – Tinubu’s adviser •Investors inject N110bn in UBA, FBNH, Zenith, Access, other stocks in two days…
CBN Activates Automatic Debit Orders on Debtors Accounts, Other Defaulters in Commercial Banks
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, revealed that over N10 trillion has been loaned to customers under various intervention schemes. CBN data…
Aviation yet to fully recover from pandemic losses – IATA
The International Air Transport Association said the aviation sector is still recovering from losses of the pandemic which crippled flight operations globally. Africa lost an estimated $7.7bn in the aviation sector in…
Nigerian gambling magnate Kessington Adebutu gains $3.7 million from Wema Bank stake
In the wake of substantial losses incurred earlier this year, Nigerian gambling magnate Kessington Adebutu has experienced a substantial increase in his equity…
How Manchester United takeover costing club £1m monthly
According to a report in Daily Mail, Manchester United owners, the Glazer family, are reportedly spending £250,000 a week, approximately amounting to £1million in legal and consultancy fees in a bid to sell a 25 per…
Guinness Nigeria gets new Managing Director, its first Nigerian CEO since 2015
Guinness Nigeria has announced the appointment of Mr Adebayo Alli as its new Managing Director, its first Nigerian MD since 2015. The appointment comes after John Musunga, the now erstwhile MD of Guinness Nigeria…
Subsidy removal pushes transport industry into recession
Nigeria’s transport and storage industry shrank for the second time in the third quarter of 2023, entering a recession for the first time in 30 months, largely on the back of petrol subsidy removal, according to a…
FCMB Group Reports 108% YoY Growth in Profit Before Tax
FCMB Group Plc (NGX: FCMB) today announced a 108% Year-on-Year (YoY) growth in profit before tax (PBT) to N55.1 billion for the nine months ended September 30, 2023, compared…
Nigeria’s richest banker Jim Ovia’s Zenith Bank announces expansion into France
Zenith Bank, a Lagos-based financial services group founded and partly owned by Nigeria’s richest banker Jim Ovia, is set to broaden its global presence…
Consider Economic Indices Before Banks’ Recapitalisation – Experts Tell CBN
Experts have cautioned the federal government not to be hasty in recapitalisation of commercial banks in the country, saying the government should consider the micro and macroeconomic indices before implementing the…
Hardship: More Nigerians opt for loans to make ends meet
*Consumer loans up 34% as inflation, naira depreciation eat up households’ income Consumer loans booked by banks’ customers rose by 34 per cent, year-on-year, to N2.64 trillion in the first half of this year,…
Late fraud reporting fueling low stolen funds recovery – PalmPay
Many people who fall victim to cyber scams and end up losing their money or their valuables, do not report the fraud on the first day it happened, according to a new report by PalmPay, a Nigerian-based fintech…
CBN’s bank recapitalisation plan for $1trn economy raises questions
The proposed bank recapitalisation announced by Olayemi Cardoso, the governor of the Central Bank of Nigeria (CBN), has left some industry stakeholders with questions, even as the move has been described as a…
Dangote to list $20bn refinery on NGX
Billionaire businessman, Aliko Dangote, has revealed plans to list his $20bn Dangote Petroleum Refinery on the Nigerian Exchange Limited. This plan is a major boost for the management of the local bourse who have…
Multiple bank charges amid rising inflation worry Nigerians
Nigerians who have already resorted to desperate measures to cushion the effects of difficult socio-economic conditions, are increasingly worried about…
AGRO SOLUTIONS: Kalahari Red Buck In Botswana Sold N7.2m
The Kalahari Red sire ‘Sta Soft’ (777-20-051), bred and sold by Bushra Stud in Botswana, recently fetched a record price of R165,000 (BWP120,000) about N7.2 million at the annual Trifecta Elite Sale held at the National…
Aliko Dangote confirms refinery startup in December, says 350,000 bpd is first target
Chairman of Dangote Group, Aliko Dangote confirmed his refinery startup in December 2023, saying that 350,000 barrels per day is the first target of the refinery. He said this to the Financial Times (FT) in a…
Fresh recapitalisation: Bank CEOs, others in merger, acquisition talks
Indications emerged on Saturday that the chief executive officers and other top executives of Deposit Money Banks had begun moves to raise fresh capital to bolster…
How Michael Jordan became the wealthiest athlete ever with $3-billion Charlotte Hornets sale
The greatest basketball player of all time has always been a matter of debate among basketball lovers about whether Michael Jordan is the best to ever play the game. His…
FG partners Portland Gas to construct CNG conversion sites in Nigeria
The Federal Government is partnering with Portland Gas to construct CNG conversion sites in the country. At the Portland Gas Green Park’s groundbreaking ceremony earlier this week, Farouk Ahmed, the Chief…