Business

The Supreme Court has affirmed the conviction of the former Managing Director of Bank PHB Plc, Mr Francis Atuche, for N25.7 billion fraud. The apex court, in a unanimous decision, held that Atuche, the Appellant,…

The total secondary market turnover on FMDQ Exchange was N41.69trillion in May, representing month-on-month (MoM) increase of 51.62percent (N14.19trillion) and year-on-year (YoY) increase of 164.26percent…

The Central Bank of Nigeria (CBN) has said it is working on a new regulation aimed at improving the level of compliance and corporate governance practice by fintechs in the country.  The Deputy Governor of…

Nigeria’s external reserve hit a new milestone in June, rising to $34.07 billion, the highest level since March 2024. This information comes from the Central Bank’s external reserve position as of June 26, 2024.…

Bismarck Rewane, chief executive officer of Financial Derivatives, says the discontinuation of the price verification system (PVS) portal shows that the Central Bank of Nigeria (CBN) has achieved its purpose. …

The Federal Government, on Thursday, met with transporters and stakeholders in the transportation sector in a bid to accelerate the adoption of Compressed Natural Gas and reduce the use of Premium Motor Spirit, popularly…

The Federal Government through the Central Bank of Nigeria has raised a total sum of N284.26bn in the latest Nigerian Treasury Bills auction. This was as its T-Bills debts soared to N10.4tn between December 2023…

Remittance flows to Nigeria fell by 2.9 per cent to $19.5 billion in 2023, according to the World Bank’s latest Migration and Development brief.…

The Central Bank of Nigeria (CBN) has informed it will enforce stringent criteria for its ongoing bank recapitalisation programme. It said the strict criteria will be applied for new investors to enhance…

A Federal High Court sitting in Lagos will, on October 21, resume proceedings in an alleged debt dispute between Anchorage Leisures Ltd & two others versus Ecobank Nigeria Ltd. Justice Yellin Bogoro fixed the…

Fintech firm, PalmPay, yesterday warned its Point of Sale (PoS) operators against getting their accounts frozen over their failure to comply with the directive of the Corporate Affairs Commission (CAC) to…

The Central Bank of Nigeria (CBN) yesterday suspended its FX Price Verification System (PVS) portal, effective July 1. The discontinuation came 10 months after the portal’s launch in August last year. The PVS…

CBN targets strong banks capable of supporting govt’s $1tr GDP by 2030 Ongoing bank recapitalisation will not be business as…

Femi Otedola has acquired additional 1,228,141 shares of FBN Holdings Plc at N20.30kobo per share. He also acquired 7,965,198 shares of FBN Holdings at N19.90kobo through Calvados Global Services Limited, a company…

The United States announced Wednesday a reward of up to $5 million for information that could lead to the arrest of fugitive Bulgarian-born “cryptoqueen” Ruja Ignatova. The US ambassador to Bulgaria, Kenneth Merten,…

The governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said that the country recorded a total foreign exchange inflow of about $24 billion in the first quarter of 2024. Cardoso made this disclosure in a…

The Central Bank of Nigeria (CBN) has disclosed that the worst is over for the Naira’s fluctuations. CBN governor, Olayemi Cardoso, struck an optimistic tone regarding the naira’s stability in a recent interview with…

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun has stated that Standard Chartered Bank has…

Aarti Steel Nigeria has reportedly shut down operations in the country, citing economic pressure as the reason for its decision. The company which produces roofing sheets has been in business in Nigeria for more…

The Managing Director, ExxonMobil Nigeria, Shane Harris, has declared that the oil major is not leaving Nigeria as claimed in some quarters, particularly after the oil firm’s proposed divestment of a 100 per cent…

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele,  has disclosed that traders in the pure water (sachet water) business in Nigeria pay at least six to seven taxes a day.…

The Nigeria Customs Service (NCS) has maintained N1,474.09 per dollar as the foreign exchange (FX) rate for import tariffs and duties for over a week. The current rate has remained the same for the past 10…

Retail Supermarkets Nigeria Limited (RSNL) an operator of the Shoprite franchise in Nigeria has announced the closure of its Wuse Store…

Nigerians borrowed N1.22 trillion over the past year as a surge in digital lenders improved access to credit for many grappling with worsening economic conditions. Between January 2023 and January 2024,…