Business

Pay-TV operator, Multichoice recorded significant growth in its betting business in Nigeria for the financial year ended March 31, 2024, as users of its betting platform, KingMakers, increased by 37%.  The company disclosed…

…As market share rises to 28-month high The Central Bank of Nigeria, CBN, monetary policies may have whetted the appetite of Foreign Portfolio Investors, FPIs, as fresh inflows amounting to N120.8 billion…

Guinness Nigeria Plc has debunked insinuations that it is exiting the Nigerian market following the sale of the majority shareholding by Diageo, a British multinational alcoholic beverage company. In a statement, the…

Fidelity Bank Plc will launch its N127.1bn capital raise via a public offer and rights issue on June 20, 2024. The lender stated that it had signed the necessary documentation to raise about N127.1bn from a public offer…

Nigeria’s inflation rate surged to 33.95% in May 2024, up from 33.69% in April 2024, according to the latest Consumer Price Index (CPI) report released by the…

A crypto-exchange company, Binance Nigeria, has expressed relief over the Nigerian government’s dropping of tax evasion charges…

Several media reports stating that a $400 million Exchange-Traded Fund (ETF) owned by BlackRock is “leaving” Nigeria is not true.  The ETF in question is the iShares Frontier and Select EM ETF (The Fund) and was…

As Nigerians wait for the transmission of a new National Minimum Wage Bill to the National Assembly by President Bola Ahmed Tinubu, employers and workers across the country are holding their breath over the final…

At least three shipping companies, acting as collection agents for the Nigerian Maritime Administration and Safety Agency (NIMASA), have allegedly colluded with some management staff of the agency to evade the…

The Federal Government has warned Nigerians against investing in the crypto token of music star, David Adeleke, better known as Davido. Last month, Davido announced the launch of the crypto token or memecoin…

The House of Representatives and the National Agency for Food and Drug Administration and Control have resolved to lift the ban on the sale and consumption of sachet alcoholic beverages in the country. The deputy…

The Federal High Court on Friday discharged Tigran Gambaryan, a 39-year-old American, and fleeing Nadeem Anjarwalla from the  Federal Inland Revenue Service (FIRS) tax evasion case against the cryptocurrency exchange…

The World Bank has said there is a possibility that the monetary policy tightening by the Central Bank of Nigeria (CBN) will not address the ravaging inflation in the country. The World Bank made the disclosure in its…

Nigerians are bracing up for the most expensive Sallah holidays in over 30 years as prices of essential food items such as rice, tomatoes and ram hit record highs.   Nigeria is currently experiencing its highest…

The big audit firms in Nigeria, KPMG, PWC, Deloitte, and EY, typically referred to as the Big Four maintained industry dominance yet again in 2023, as 50 of the most capitalized companies on the Nigerian exchange paid…

Multichoice Group, owners of DSTV, had an account balance of N31.6 billion with Heritage Bank, before the bank’s liquidation.   According to the group’s annual report for FY 2024, Multichoice had a deposit of N33.7…

The World Bank has announced the approval of two significant financial operations aimed at bolstering Nigeria’s economic stability and supporting its vulnerable populations.   According to a statement from the…

The Federal Government has said it would leverage the National Identification Number (NIN) to document the credit behaviour of every Nigerian under its consumer credit scheme. The Chief Executive Officer of the…

The Nigerian National Petroleum Company Limited (NNPC) has filed a motion in the High Court of the Federal Capital Territory, Abuja, seeking to discontinue its ongoing legal action against several subsidiaries of…

Africa’s richest person, Aliko Dangote, says local and foreign mafia tried several times to sabotage his $19 billion refinery from coming to fruition. This is as he said he has repaid about $2.4 billion of the $5.5…

The Nigeria Deposit Insurance Corporation has listed the head office in Lagos and branches of failed Heritage Bank across the country for sale in its role as liquidator of the bank. NDIC announced the sale of the bank…

Africa’s richest individual, Aliko Dangote, has revealed that his company secured in bank loans a swooping sum of about $5.5 billion to build the Dangote refinery.   Dangote made this disclosure on Wednesday during the ‘AfriCaribbean…

…France is now the biggest buyer Nigeria’s oil exports, a major source of FX, are facing headwinds as traditional buyers continue to…

The Chartered Institute of Bankers of Nigeria has reassured the bank customers of the safety and soundness of the Nigerian banking sector. The reassurance, contained in a statement signed by the President/Chairman of the…