Business

Nigerians are turning to locally used vehicles as soaring prices make imported cars unaffordable in a country grappling with the worst…

Nigeria’s bold foreign exchange reforms under President Bola Tinubu have not yielded the results many expected, with critics faulting implementation. The naira has weakened 65 per cent against theUS dollar at the…

…targets 500,000-barrel production capacity July Nigeria’s Dangote Refinery, the largest in Africa, is set to begin exporting diesel fuel meeting…

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange…

In 2023, digital banking channels brought in roughly N438bn for 10 financial institutions, an analysis of their annual reports has shown. Compared to the previous year, the banking groups’ earnings from electronic…

Shareholders have thrown their weight behind the ongoing recapitalisation plan of Fidelity Bank Plc. The shareholders gave their support at the recently held annual general meeting of the bank, where they said that…

…100% dividend increase from 2022 FCMB Group Plc's shareholders, at the company's 11th Annual General Meeting (AGM), approved an increase in issued share capital…

More information on how Tyrese Haspil, the personal assistant of Fahim Saleh killed his boss to conceal a theft of $400,000 from his girlfriend has surfaced. Saleh…

…Gross earnings surge 149% TAJBank Limited, Nigeria’s fastest growing non-interest bank, has reported a profit before tax (PBT) of N11.3 billion in its 4th year of operations for the 2023 Financial Year. This is…

The naira rallied to a recovery at the weekend on the back of sustained increase in the country’s foreign exchange (forex) reserves. The naira appreciated by 1.0 per cent to N1, 482.81 per dollar at the Nigerian…

The Central Bank of Nigeria (CBN) at the just concluded liquidity mop-up has raised an estimated N1.8 trillion from Open Market Operation (OMO) and Nigerian Treasury Bills (NTBs) amid its efforts to tackle the…

President Bola Ahmed Tinubu has described the newly commissioned Oworonshoki-Apapa Expressway as the Tenth Wonder of the World.  This is just as he…

Nigeria’s letter of credit payments have plummeted by 63% in the first quarter of 2024 compared to the same period in the previous year, according to the International paymentsdata of the Central Bank of Nigeria (CBN).…

The Chartered Institute of Stockbrokers (CIS) has expressed concerns about the impact of recent foreign exchange reforms on companies with significant foreign exchange components, noting that many of these…

The naira held its ground on the unofficial market, appreciating against the dollar on the parallel market as the dollar index posted some losses amid profit-taking. The value of the naira was N1,500 on Friday,…

At least 14 of the 17 directors who initially survived the ongoing purge at the Central Bank of Nigeria (CBN) have been sacked. Since he took over the apex bank, Yemi Cardoso has embarked on major reforms,…

The Nigerian equities market witnessed a downturn this week, as the NGX All-Share Index (NGXASI) declined by 0.52% week-on-week (WoW) to settle at 97,612.51 points. This decline has pulled the year-to-date…

Nigeria’s foreign exchange market has seen the turnover on the Nigerian Autonomous Foreign Exchange Market (NAFEM) window surge by an astonishing 231.99% on May 24, 2024. This development coincides with the Central…

No fewer than 200 officials of the Central Bank of Nigeria were on Friday relieved of their duties. This is an addition to the long list of ongoing disengagements in the apex bank. This adds to the list of 117 staff…

The management of Landmark Africa Group, operators of Landmark Beach in Lagos State, has lamented that the company is devastated following the demolition of part of…

Vice President, Kashim Shettima, on Thursday, said that President Bola Tinubu had successfully secured over 20 billion dollars in investment for Nigeria. Mr Shettima said that these investments include 14 billion…

NASCON Allied Industries Plc has assured its shareholders of continuous growth and…

A detained Binance executive, Tigran Gambaryan, slumped before the Federal High Court Abuja during a foreign exchange contravention and money laundering trial instituted against him by the Economic and Financial Crimes…

Johnny Walker maker Diageo has announced it would start paper packaging Irish cream liquor, Baileys as part of a trial.   The company announced this in a press statement where it stated that the production of paper…