Business

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.  This is just as he…

Nigeria’s letter of credit payments have plummeted by 63% in the first quarter of 2024 compared to the same period in the previous year, according to the International paymentsdata of the Central Bank of Nigeria (CBN).…

The Chartered Institute of Stockbrokers (CIS) has expressed concerns about the impact of recent foreign exchange reforms on companies with significant foreign exchange components, noting that many of these…

The naira held its ground on the unofficial market, appreciating against the dollar on the parallel market as the dollar index posted some losses amid profit-taking. The value of the naira was N1,500 on Friday,…

At least 14 of the 17 directors who initially survived the ongoing purge at the Central Bank of Nigeria (CBN) have been sacked. Since he took over the apex bank, Yemi Cardoso has embarked on major reforms,…

The Nigerian equities market witnessed a downturn this week, as the NGX All-Share Index (NGXASI) declined by 0.52% week-on-week (WoW) to settle at 97,612.51 points. This decline has pulled the year-to-date…

Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99% on May 24, 2024. This development coincides with the Central…

No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties. This is an addition to the long list of ongoing disengagements in the apex bank. This adds to the list of 117 staff…

The management of Landmark Africa Group, operators of Landmark Beach in Lagos State, has lamented that the company is devastated following the demolition of part of…

Vice President, Kashim Shettima, on Thursday, said that President Bola Tinubu had successfully secured over 20 billion dollars in investment for Nigeria. Mr Shettima said that these investments include 14 billion…

NASCON Allied Industries Plc has assured its shareholders of continuous growth and…

A detained Binance executive, Tigran Gambaryan, slumped before the Federal High Court Abuja during a foreign exchange contravention and money laundering trial instituted against him by the Economic and Financial Crimes…

Johnny Walker maker Diageo has announced it would start paper packaging Irish cream liquor, Baileys as part of a trial.   The company announced this in a press statement where it stated that the production of paper…

FCMB Group Plc will hold its 11th Annual General Meeting (AGM) on Friday, May 24, at the Balmoral Convention Center,  Federal…

Customers who borrowed money from the banks will begin to witness a surge in interest payments, following the third straight time increase in benchmark…

A U.S. investment firm Oaktree Capital Management has assumed full control of Serie Achampions Inter Milan after Chinese firm Suning defaulted on a €395 million ($428 million) loan payment. Suning, which acquired a…

The Central Bank’s recent interest rate hike will slow economic growth and contract the real sector in 2024, many analysts have said. According to the FBN Quest daily note, the hike will slow economic growth and reduce…

The Bank of Industry (BOI), Nigeria’s oldest development finance institution, posted the biggest profit in its 22 years of existence in 2023 as the lender ramped up credit to businesses in Africa’s most populous nation.…

MTN Nigeria Communications Plc has fixed N54.120 million as annual fees for the Chairman of its Board of Directors for the financial year ending Dec. 31, 2024 and for succeeding years until reviewed. Mrs Uto Ukpanah,…

Aare Onakakanfo of Yorubaland, Gani Adams, has urged President Bola Tinubu to go after those sabotaging the Federal Government’s efforts at halting the depreciation of Naira. Adams also told the Governor of the Central…

The Central Bank of Nigeria (CBN) has issued regulatory guidelines for bureau de change operations after consultation with stakeholders. In February, CBN released a ‘Draft Revised Regulatory and Supervisory Guidelines for…

…shares 40,000 bags in Ogun The Aliko Dangote Foundation (ADF)’s N15 billion National Food Intervention programme has landed in Yewa land…

The Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) has increased the benchmark interest rate by 150 basis points to 26.25% from 24.75%.   The Governor of the CBN, Yemi Cardoso stated this at the…

The Federal High Court sitting in Lagos has restrained all commercial banks in the country, from releasing, further releasing or dealing with Capital Trust Investments & Asset Management Limited and it’s alter ego,…