Business

A total of 12 United States politicians have urged President Biden and the hostage affairs unit to facilitate the release of Binance executive, Tigran Gambaryan who is currently been detained by Nigerian authorities on…

The federal government is currently looking at plans to approve through an Executive Order the importation of paddy rice to millers to stem the growing tide of food inflation across the country. Also, the federal…

The Nigeria Deposit Insurance Commission (NDIC) says it will begin payment to 2.3 million depositors of the Heritage Bank this week. The Managing Director of NDIC, Mr. Bello Hassan, made this statement during a press…

The Federal government said fuel subsidy is projected to gulp about N5.4 trillion in 2024 as against the N3.6 trillion budgeted for the same intervention in 2023. This is contained in a draft copy report of the…

Sean ‘Diddy’ Combs, the US rapper, has sold his entire stake in Revolt, the media company he co-founded in 2013.Revolt confirmed the complete buy-out in a statement…

Fitch Ratings, a global rating agency, has projected naira will end the year at N1,450 to a dollar. Gaimin Nonyane, director, Middle-East and Africa sovereigns, at Fitch Ratings, made this known during a post-sovereign…

Nairametrics can confirm that First Bank has received the full repayment of a “N456 billion loan” extended to Heritage Bank. This recovery is part of a “bailout loan” arranged during the tenure of former Central Bank of…

The face-off between Femi Otedola, billionaire businessman, and Jim Ovia, chairman of Zenith Bank, over an alleged multibillion naira fraud has taken a turn for the…

A Reuters survey on crude oil production in May has revealed that Nigeria’s average crude oil production increased by 50 thousand barrels.   Besides Nigeria, Iraq also increased its production output by 50 thousand…

Aliko Dangote, Africa’s richest person, says some international oil companies (IOCs) are struggling to supply crude to Dangote Petroleum Refinery.Dangote…

The Nigerian naira languished against the British pound near the N2,000 support line, as the fortunes of the British currency gained momentum in global FX markets. Despite better market circumstances in the…

•As economy loses N19 billion There are indications that the landing cost of Premium Motor Spirit, PMS, otherwise known as petrol rose year-on-year, YoY, by 46.8 per cent to N1,026.71 per litre in May 2024, from N545.83…

The Nigerian Deposit Insurance Corporation (NDIC) says it will pay a maximum of N5 million to each depositor of Heritage Bank, following its licence…

The Central Bank of Nigeria (CBN) said it has revoked the licence of Heritage Bank Plc with immediate effect following the failure of the Management of the company to improve its financial performance. Hakama Sidi-Ali,…

A former presidential candidate, Peter Obi has urged the Federal Government through the  Nigeria Deposit Insurance Corporation (NDIC) to ensure immediate payment of all depositors in Heritage Bank in full to help…

Taiwo Oyedele, chairman the presidential committee on fiscal policy and tax reforms, says the federal government has approved the exemption of small businesses from…

The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect. Hakama Sidi Ali, Acting Director, Corporate Communication at the apex bank, announced this in a statement on Monday. Ali…

The Central Bank of Nigeria (CBN) has said that more shariah compliant banks are coming due to the benefits the sector has brought to the nation’s economy and citizens. The CBN Governor, Mr. Olayemi Michael Cardoso,…

First Bank, a Nigerian bank with a market capitalisation of ₦829 billion has begun legal action to recover “huge sums…

The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can sell 50% balance of their repatriated export proceeds to authorized forex dealers.  This is according to a new circular issued…

Africa’s largest oil refinery, Dangote Refinery, has achieved a significant milestone with the successful shipment of its first jet fuel cargo to Europe. This marks another first for the new complex, which has been…

Femi Otedola, chairman of FBN Holdings and principal owner of Geregu Power, has levelled serious accusations against Zenith Bank, alleging fraud and mismanagement in dealings involving his former company, Zenon Petroleum…

Nigerian Afrobeat singer, David Adeleke, popularly known as Davido, on Wednesday, announced the launch of a crypto token or memecoin inspired by himself. The digital currency, known as “Timeless Davido” ($DAVIDO),…

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