Business

The Central Bank of Nigeria (CBN) said it has revoked the licence of Heritage Bank Plc with immediate effect following the failure of the Management of the company to improve its financial performance. Hakama Sidi-Ali,…

A former presidential candidate, Peter Obi has urged the Federal Government through the  Nigeria Deposit Insurance Corporation (NDIC) to ensure immediate payment of all depositors in Heritage Bank in full to help…

Taiwo Oyedele, chairman the presidential committee on fiscal policy and tax reforms, says the federal government has approved the exemption of small businesses from…

The Central Bank of Nigeria (CBN) has revoked the licence of Heritage Bank Plc with immediate effect. Hakama Sidi Ali, Acting Director, Corporate Communication at the apex bank, announced this in a statement on Monday. Ali…

The Central Bank of Nigeria (CBN) has said that more shariah compliant banks are coming due to the benefits the sector has brought to the nation’s economy and citizens. The CBN Governor, Mr. Olayemi Michael Cardoso,…

First Bank, a Nigerian bank with a market capitalisation of ₦829 billion has begun legal action to recover “huge sums…

The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can sell 50% balance of their repatriated export proceeds to authorized forex dealers.  This is according to a new circular issued…

Africa’s largest oil refinery, Dangote Refinery, has achieved a significant milestone with the successful shipment of its first jet fuel cargo to Europe. This marks another first for the new complex, which has been…

Femi Otedola, chairman of FBN Holdings and principal owner of Geregu Power, has levelled serious accusations against Zenith Bank, alleging fraud and mismanagement in dealings involving his former company, Zenon Petroleum…

Nigerian Afrobeat singer, David Adeleke, popularly known as Davido, on Wednesday, announced the launch of a crypto token or memecoin inspired by himself. The digital currency, known as “Timeless Davido” ($DAVIDO),…

Want to ditch the "broke retiree" stereotype and retire comfortably on your own terms? That can be your future – laughing at money worries instead of sweating them. Enjoy peace…

Reap & Arcenciel Limited (R & A), a Lagos-based management consulting and financial advisory firm, will support members of the Nigerian Liquefied Petroleum Gas Association (NLPGA) in their efforts to raise…

Pressure from President Bola Tinubu, following two high-level visits from ExxonMobil’s top shots, has cleared the hurdle in the path of the international oil company’s asset sale to indigenous heavyweight, Seplat…

ExxonMobil is reducing its presence in Nigeria, according to findings by BusinessDay. The oil giant is downsizing its office space and scaling back operations across the country. According to the report, ExxonMobil has…

Power distribution companies in Nigeria have banked on the recent tariff hike to increase their earnings in March 2024. The increased…

The presidential committee on fiscal policy and tax reforms says it has asked the federal government to adopt an exchange rate of N800 per dollar for customs import duty. Taiwo Oyedele, chairman of the…

Spot FX market turnover in April 2024 was $9.12 billion (N11.14 trillion), representing a Month-on-month (MoM) decrease of 27.68% ($3.49 billion) from the turnover recorded in March 2024 ($12,61 billion). This was…

Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.   Sources within the company informed…

The House of Representatives on Wednesday mandated its committees on Banking Institutions and Federal Character to probe the arbitrary retrenchment of about 600 staff by the Central Bank of Nigeria. The resolution…

Two months after it raised bridge financing to solve challenges with working capital, the Nigerian business banking startup Brass has been acquired by a consortium of…

‘My effort to get my sister’s money failed, had to forget it’ We need law mandating banks to provide account holders with POD forms -Lawyer…

Stakeholders in the Nigerian tech space have said that the issue of forex overshadowed the various tech policies introduced by Bola Tinubu’s administration in the last one year as they struggled to meet forex obligations.…

The trial of the immediate-past Governor of the Central Bank of Nigeria, Godwin Emefiele, continued on Tuesday with a former Director of Operations at the apex bank, Ahmed Umar,  telling the court that the naira redesign…

UTM Offshore has selected the shipyard to construct the hull for Nigeria’s pioneering floating liquefied natural gas (FLNG) vessel. This project’s capacity is anticipated to be significantly larger than initially…