Business

Massive withdrawals by customers are currently ongoing in some weak and unstable banks in Nigeria following the unexpected revocation of the license of Heritage Bank…

Oando Plc on Wednesday disclosed that the Johannesburg Stock Exchange (JSE) has lifted trading suspension on its shares. Oando listed on Johannesburg…

Some members of the minority shareholders community have called for a probe of the management and directors of the failed Heritage Bank. The call was…

The Nigeria Police Force has declared wanted an employee of First Bank, named Tijani Miz Adeyinka, over an alleged fraudulent transfer of about N40 billion from customers’ accounts to different bank accounts. …

Fidelity Bank Plc has concluded all necessary arrangements to raise a total of up to N127.1 billion by way of a Rights Issue to existing…

The Minister of Information and National Orientation, Mohammed Idris, Wednesday assured that due process would be applied in all stages of the trial of the chief executives of Binance. Idris, who spoke through his Media…

Power distribution companies made a total of N292.71bn revenue in the first quarter of this year despite complaints of inadequate electricity supply by consumers and concerns about the huge indebtedness for power…

…Deploys 400 staff to bank branches for payment of N5m insured deposit Liquidated Heritage Bank Plc whose operating licence was revoked Monday…

President Bola Ahmed Tinubu plans to discontinue the payment of taxes and levies in foreign currency through an executive order. To reduce pressure on the naira, the order also mandates that all levels of government…

The Nigerian Deposit Insurance Corporation(NDIC) has said that ninety-nine percent of Heritage Bank depositors have total balances under N5 million. The Managing Director of the NDIC, Bello Hassan, disclosed this at a…

The federal high court sitting in Lagos has granted the federal government an order of interim forfeiture of properties valued at N11,140,000,000 linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria…

A total of 12 United States politicians have urged President Biden and the hostage affairs unit to facilitate the release of Binance executive, Tigran Gambaryan who is currently been detained by Nigerian authorities on…

The federal government is currently looking at plans to approve through an Executive Order the importation of paddy rice to millers to stem the growing tide of food inflation across the country. Also, the federal…

The Nigeria Deposit Insurance Commission (NDIC) says it will begin payment to 2.3 million depositors of the Heritage Bank this week. The Managing Director of NDIC, Mr. Bello Hassan, made this statement during a press…

The Federal government said fuel subsidy is projected to gulp about N5.4 trillion in 2024 as against the N3.6 trillion budgeted for the same intervention in 2023. This is contained in a draft copy report of the…

Sean ‘Diddy’ Combs, the US rapper, has sold his entire stake in Revolt, the media company he co-founded in 2013.Revolt confirmed the complete buy-out in a statement…

Fitch Ratings, a global rating agency, has projected naira will end the year at N1,450 to a dollar. Gaimin Nonyane, director, Middle-East and Africa sovereigns, at Fitch Ratings, made this known during a post-sovereign…

Nairametrics can confirm that First Bank has received the full repayment of a “N456 billion loan” extended to Heritage Bank. This recovery is part of a “bailout loan” arranged during the tenure of former Central Bank of…

The face-off between Femi Otedola, billionaire businessman, and Jim Ovia, chairman of Zenith Bank, over an alleged multibillion naira fraud has taken a turn for the…

A Reuters survey on crude oil production in May has revealed that Nigeria’s average crude oil production increased by 50 thousand barrels.   Besides Nigeria, Iraq also increased its production output by 50 thousand…

Aliko Dangote, Africa’s richest person, says some international oil companies (IOCs) are struggling to supply crude to Dangote Petroleum Refinery.Dangote…

The Nigerian naira languished against the British pound near the N2,000 support line, as the fortunes of the British currency gained momentum in global FX markets. Despite better market circumstances in the…

•As economy loses N19 billion There are indications that the landing cost of Premium Motor Spirit, PMS, otherwise known as petrol rose year-on-year, YoY, by 46.8 per cent to N1,026.71 per litre in May 2024, from N545.83…

The Nigerian Deposit Insurance Corporation (NDIC) says it will pay a maximum of N5 million to each depositor of Heritage Bank, following its licence…