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UBA donates N500 million to improve security in Lagos
The United Bank for Africa, UBA, has donated N500 million to the Lagos State Security Trust…
FCMB Hackathon: Startups Work on Solutions for Livestock Mortality and Financial Inclusion
For conceptualising and developing actionable solutions to bridge gaps in Nigeria's agribusiness ecosystem, winners of this year's First City…
FG issues N1.1trn Sovereign Sukuk for 124 road projects across Nigeria
The Securities and Exchange Commission (SEC) has announced that the Federal Government of Nigeria has issued six Sovereign Sukuk worth ₦1.1 trillion ($657.6 million)…
BREAKING: Nigeria’s inflation rate rises to 34.6%
The National Bureau of Statistics says Nigeria’s inflation rate rose to 34.6 percent in November — up from 33.8 percent in October. In its…
BREAKING: Shell, Partners Sign FID on 300 Million Barrels Bonga North Deep-water Project
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell Plc, has announced a final investment…
Dangote refinery, a wonder of modern technology – Japan Ambassador, business community
The Dangote Refinery and Petrochemicals complex has been hailed as an astonishing masterpiece, showcasing Nigeria’s technological…
We’ve exported petrol to Cameroon, Ghana, Angola, South Africa — Dangote Refinery
THE Dangote Petroleum Refinery said it has exported Premium Motor Spirit, PMS, also known as petrol to Cameroon, Ghana, Angola and South Africa. Vice President of Oil and Gas, Dangote Industries Limited, Dr.…
Supply of mint naira to hawkers will attract N150m fine – CBN warns banks
The Central Bank of Nigeria (CBN) says banks facilitating illicit flow of mint naira notes will face N150 million fine per branch. In a circular signed by Solaja Olayemi, the acting director of currency operations…
Old, new naira notes remain legal tender – CBN
The Central Bank of Nigeria (CBN) says all denominations of Naira banknotes currently in circulation remain indefinitely valid as legal tender and cannot expire or be phased out. A statement on Friday by CBN’s…
Access Bank to acquire 100% stake in South Africa’s Bidvest Bank
Access Holdings says its banking subsidiary, Access Bank Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of a 100 percent equity stake in Bidvest Bank…
Dangote Refinery exports PMS to Cameroon
…Dangote Refinery, Neptune Oil Announce their first export transaction of Refined Products to Cameroon …
Naira plummets to N1,745/$1, traders blame speculators
The exchange rate between the naira and dollar slid back to around N1,745/$1 on the parallel market a sharp reversal from the sub N1,600 levels recorded at the end of last week. An earlier article by…
Nigerians groan as cash scarcity compounds hardship
…Limited cash supply, low cash deposits caused rationing, says bank A resurgence of widespread and intense cash rationing by banks have compounded the severe economic challenges confronting Nigerians…
Nigeria’s import from Malta reaches new high of N766.81 billion despite controversy
Nigeria’s total import from Malta rose was N766.81 billion in the third quarter of 2024, according to an analysis of the foreign trade statistics reports released by the National Bureau of Statistics (NBS).…
Naira loses steam, drops against the dollar at parallel market as speculators show resistance
The naira crashed to N1640/$1 at the parallel market at the close of business on Tuesday, December 10, 2024, ending four consecutive days of exchange rate appreciation since the Central Bank of Nigeria (CBN)…
Reps probe CBN over scarcity of naira notes
The House of Representatives on Tuesday unveiled plans to investigate the activities of the Central Bank of Nigeria (CBN) which resulted in scarcity of naira notes across the country. The resolution was passed…
BUA group expands into Packaging Materials Manufacturing, partners with Starlinger
BUA Group, one of Africa’s largest foods, mining, manufacturing, and industrial conglomerates, has signed an agreement with Starlinger & Co. Limited of Austria, a leading global supplier of machinery for…
FACT CHECK: Does MTN Nigeria remit N200bn VAT every month as claimed by Taiwo Oyedele?
On November 2, Taiwo Oyedele, chairman of the presidential committee on tax policy and fiscal reforms, claimed MTN Nigeria is the…
FAKE NEWS ALERT: CBN denies selling FX at N1,301/$ to BDCs
The Central Bank of Nigeria (CBN) has denied the sales of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,301 per dollar. In a post on X on Tuesday, CBN clarified that the circular did not…
The challenges of derivation and complexities of implementation
The ongoing Value Added Tax (VAT) debate serves as a microcosm of the broader challenges within the country’s federal structure and economic framework. While the push for fiscal federalism underscores the need…
OPEC Appoints Nigeria’s Adeyemi-Bero As Chairman, Board Of Governors For 2025
The Organisation of Petroleum Exporting Countries (OPEC), has confirmed Mr. Ademola Adeyemi-Bero who is Nigeria’s Governor for OPEC, as…
Seplat Energy Completes $800 Million Mobil Assets Transaction Thursday
The assets Sale and Purchase Agreement (SPA) between Seplat Energy Plc and Mobil Producing Nigeria Unlimited (MPNU) is set to…
Naira appreciates to N1,550/$ in parallel market
The Naira today appreciated to N1,550 per dollar in the parallel market from N1,555 per dollar last weekend. However , the Naira depreciated marginally to N1,538 per dollar in the official foreign exchange…
Inflation, massive naira devaluation threaten telecom firms’ survival
Concerned by the possible collapse of the telecommunication sector, which has been plagued by high inflationary pressures and currency devaluation, telcos are demanding a change in its tariffs but government…