Business

Aliko Dangote, Africa’s richest man, has refuted claims that petroleum products from his refinery are substandard. Dangote rejected the allegations on Saturday when members of the house of representatives…

The Economic and Financial Crimes Commission (EFCC) has arraigned one Rufus John Isip, a self-acclaimed forex broker, for alleged N2 billion investment scam in Akwa Ibom State. Isip was arraigned before Justice C.…

Nigerians have called out the Chief Executive of the Nigerian Midstream and Downstream Petroleum Authority, Farouk Ahmed, for saying the diesel produced by the $20bn Dangote refinery is inferior to the ones imported…

WhatsApp says its parent body, Meta, will be appealing the $220 million fine imposed by the Federal Competition and Consumer Protection Commission (FCCPC) regarding its violation of Nigeria’s data privacy laws. The…

•Speaks on the construction of a refinery Nigeria banks on for economic revival, his frustrations, achievements, expectations •It’s like swimming in the middle of the sea, getting tired but making efforts to…

The Central Bank of Nigeria (CBN) says foreign currencies worth $106.5 million were sold to authorised dealers on Thursday and Friday. In a statement on Friday, CBN said it also bought foreign currencies worth $9.5…

The Central Bank of Nigeria (CBN) on Friday outlined a comprehensive procedure for account owners and beneficial owners to recover their funds that have been dormant for up to 10 years. A dormant account is a bank…

The celebration surrounding Aliko Dangote’s monumental $20 billion refinery project in Nigeria appears to be hitting some snags as the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has…

Professional services firm, KPMG, says there may be legal disputes from the Federal Government’s proposed 50 percent tax on banks’ foreign exchange gains, warning that the windfall tax is retroactive, which is not in…

The Central Bank of Nigeria (CBN) has issued revised guidelines for the management of dormant accounts, unclaimed balances, and other financial assets in banks and financial institutions across Nigeria. The updated…

Dangote Industries Limited (DIL) has condemned an online report criticizing the quality of its products, adding that…

The Federal Competition and Consumer Protection Commission(FCCPC) has imposed a $220,000,000 penalty against Meta Platforms Incorporated over alleged discriminatory practices against Nigerian data and consumers.   This…

Airlines’ operations in countries like Singapore, the United States and Australia have been disrupted due to a major global cyber outage affecting services. The massive information technology (IT) outage, which began in…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Dangote refinery is still at the pre-commissioning stage…

Nigerian carrier, Air Peace, has debunked reports that it has been blacklisted by aircraft leasing companies, saying it is untrue. The airline said it didn’t breach agreements with lessors, noting that the…

At the BusinessDay CEO Forum, Chukwuma Nwanze, MD/CEO of Credit Direct Finance Company Limited (Credit Direct), FCMB Group's consumer finance arm, emphasized the…

The Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that persistent inflation could prolong monetary tightening measures and hinder the nation’s growth potential. He said in the foreword of the…

Mauritius-based Chappal Energies has acquired a minority share in TotalEnergies’s Nigerian onshore joint venture assets for $860 million. The new purchase by Chappal Energies, a company registered in Mauritius in…

The Bankers’ Committee are on the verge of completing the renovation and upgrading of facilities at the National Theatre, Iganmu, Lagos; a development that could be best described as the restoration of national…

…Inflows via CBN up 127.97% in one month …FX turnover rises by 180.47% in one year Foreign exchange (FX) inflows into the Nigerian economy jumped by 57 percent in one year, resulting in the Naira showing some…

Experts seek end to oil monopoly, call for transparency The landing cost of Premium Motor Spirit (PMS) also known as petrol has risen to a staggering N1,117 per litre using the official Investors &…

The federal government plans to tax banks 50% of profit realised from foreign exchange revaluation in 2023. This is contained in the proposed amendments to the 2023 Finance Act sent by the President to the…

...Says local price will continue to increase because Trading arms offer cargoes at $2-$4 per barrel, above NUPRC official price…

French oil major, TotalEnergies, is planning to sell its onshore oil asset in Nigeria to an indigenous oil company, Chappal Energies, for the sum of $860 Million, as per Bloomberg report. The deal, set to be finalized…