Business

Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum…

The Central Bank of Nigeria (CBN) task forceformed to double remittance inflows into Nigeria will report directly to Yemi Cardoso, the Governor of the CBN. The Governor of the CBN, Yemi Cardoso, made this statement…

This is the weakest it has been since April 8, when the official rate closed at N1,230.61/$1, suggesting downward pressure ahead of the weekend.  The exchange rate at the official window strengthened to N1,072.4 on…

The Federal Government has revealed the factors responsible for the high cost of consumables and other items across the country. Addressing journalists aster a visit to Masaka Market in Nasarawa on Friday, the director…

The board of First Bank has convened an emergency meeting at the bank’s headquarters in response to the unexpected resignation of the Managing Director, Adesola Adeduntan. Mr. Adeduntan’s resignation, announced just eight…

Nigeria’s commodities exchange plans to offer crude oil and gas trading to deepen access to financing for the industry that’s the biggest foreign-exchange earner for the…

…targets 20,000bpd The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner in OML 85, First Exploration and Petroleum Development…

Cryptocurrency exchange company, Binance said it is working very closely with the Nigerian government over its detained executive. The CEO of Binance, Richard Teng, disclosed this on Thursday with the company’s…

Ecobank Transnational Incorporated has repaid its $500 million five-year Eurobond, which was due today, April 18th. The bank stated this in a corporate filing with the Nigerian Exchange Limited, as obtained by PUNCH…

Prices of paddy are beginning to come down in many grain markets in the country as the dry season harvest begins, a Daily Trust survey has shown. Paddy is rice in its husk before threshing, and is the major ingredient…

The Central Bank of Nigeria (CBN) has described as false, reports that it is selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. The apex bank in a post on X on Thursday, said a…

“Since the naira redesign policy, I can now pay the person that helps with my shoe with transfers,” Kaliba Bilala, founder of Tanabit, a financial data analytics company, said while discussing the impact of the Central…

Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy, on Thursday said the fiscal authority is complementing the efforts of the Central Bank towards ensuring the stability of the economy…

A foreign investor at TLG Capitals, Isaac Marshall, has attributed the naira gain to the decision of the Central Bank of Nigeria (CBN) to clear the FX backlog. Nigeria’s foreign exchange (FX) reserves have fallen to a…

Google fired 28 employees following a disruptive sit-down protest over the tech giant’s contract with the Israeli government, a Google spokesperson said Thursday. The Tuesday demonstration was organised by the group…

Like the proverbial cat with nine lives, the story of the moribund Ajaokuta Steel Company Limited is the story of abandonment and neglect of Nigeria’s greatest investment. This is an expository on how the monument…

Nigeria’s fight against financial crimes might be taking a significant leap in the right direction with the implementation of beneficial ownership information. This is according to stakeholders who maintained that…

The number of dollar millionaires in Nigeria dropped by 16.3 percent last year, a new report has shown, with analysts attributing the decline in private wealth to naira devaluation and other economic headwinds. The…

Data showing the Central Bank of Nigeria (CBN)’s rare interventions in the foreign exchange market prove that it is not defending the naira with its foreign reserves. Data from FMDQ Securities Exchange shows the CBN has…

Debt servicing may have been responsible for the dipping of Nigeria’s foreign reserves from $34.45 billion to $32.61 billion within one month. Specifically, about $1.8 billion was spent from the foreign reserve within the…

The naira has appreciated by N75.4 against the US dollar in a single day to bounce back in the foreign exchange market. FMDQ data showed that the naira appreciated to N1,072.74 per dollar on Wednesday, compared to…

The Central Bank of Nigeria, CBN has reduced the Loan to Deposit Ratio, LDR of banks to 50 per cent from 65 percent. The reduction was announced via a circular to Deposit Money Banks titled “Re: Regulatory Measures to…

The federal government says it is on the verge of approving the acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets by Seplat Energy. Seplat announced an agreement toExxonMobil’s 40 percent stake in MPNU on…

President Bola Tinubu has commended the he enterprising feat of Dangote Oil and Gas Limited in reducing the gantry price of Automotive Gas Oil (AGO), also known as…