Business

Reap & Arcenciel Limited (R & A), a Lagos-based management consulting and financial advisory firm, will support members of the Nigerian Liquefied Petroleum Gas Association (NLPGA) in their efforts to raise…

Pressure from President Bola Tinubu, following two high-level visits from ExxonMobil’s top shots, has cleared the hurdle in the path of the international oil company’s asset sale to indigenous heavyweight, Seplat…

ExxonMobil is reducing its presence in Nigeria, according to findings by BusinessDay. The oil giant is downsizing its office space and scaling back operations across the country. According to the report, ExxonMobil has…

Power distribution companies in Nigeria have banked on the recent tariff hike to increase their earnings in March 2024. The increased…

The presidential committee on fiscal policy and tax reforms says it has asked the federal government to adopt an exchange rate of N800 per dollar for customs import duty. Taiwo Oyedele, chairman of the…

Spot FX market turnover in April 2024 was $9.12 billion (N11.14 trillion), representing a Month-on-month (MoM) decrease of 27.68% ($3.49 billion) from the turnover recorded in March 2024 ($12,61 billion). This was…

Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.   Sources within the company informed…

The House of Representatives on Wednesday mandated its committees on Banking Institutions and Federal Character to probe the arbitrary retrenchment of about 600 staff by the Central Bank of Nigeria. The resolution…

Two months after it raised bridge financing to solve challenges with working capital, the Nigerian business banking startup Brass has been acquired by a consortium of…

‘My effort to get my sister’s money failed, had to forget it’ We need law mandating banks to provide account holders with POD forms -Lawyer…

Stakeholders in the Nigerian tech space have said that the issue of forex overshadowed the various tech policies introduced by Bola Tinubu’s administration in the last one year as they struggled to meet forex obligations.…

The trial of the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, continued on Tuesday with a former Director of Operations at the apex bank, Ahmed Umar,  telling the court that the naira redesign…

UTM Offshore has selected the shipyard to construct the hull for Nigeria’s pioneering floating liquefied natural gas (FLNG) vessel. This project’s capacity is anticipated to be significantly larger than initially…

Nigerians are turning to locally used vehicles as soaring prices make imported cars unaffordable in a country grappling with the worst…

Nigeria’s bold foreign exchange reforms under President Bola Tinubu have not yielded the results many expected, with critics faulting implementation. The naira has weakened 65 per cent against theUS dollar at the…

…targets 500,000-barrel production capacity July Nigeria’s Dangote Refinery, the largest in Africa, is set to begin exporting diesel fuel meeting…

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange…

In 2023, digital banking channels brought in roughly N438bn for 10 financial institutions, an analysis of their annual reports has shown. Compared to the previous year, the banking groups’ earnings from electronic…

Shareholders have thrown their weight behind the ongoing recapitalisation plan of Fidelity Bank Plc. The shareholders gave their support at the recently held annual general meeting of the bank, where they said that…

…100% dividend increase from 2022 FCMB Group Plc's shareholders, at the company's 11th Annual General Meeting (AGM), approved an increase in issued share capital…

More information on how Tyrese Haspil, the personal assistant of Fahim Saleh killed his boss to conceal a theft of $400,000 from his girlfriend has surfaced. Saleh…

…Gross earnings surge 149% TAJBank Limited, Nigeria’s fastest growing non-interest bank, has reported a profit before tax (PBT) of N11.3 billion in its 4th year of operations for the 2023 Financial Year. This is…

The naira rallied to a recovery at the weekend on the back of sustained increase in the country’s foreign exchange (forex) reserves. The naira appreciated by 1.0 per cent to N1, 482.81 per dollar at the Nigerian…

The Central Bank of Nigeria (CBN) at the just concluded liquidity mop-up has raised an estimated N1.8 trillion from Open Market Operation (OMO) and Nigerian Treasury Bills (NTBs) amid its efforts to tackle the…