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Business
MTN laments vandalisation of sites, infrastructure, others in Southeast
Says company controls over 50% subscribers in Anambra MTN Nigeria Communication PLC has raised the alarm over wanton…
Obazee panel hunts ‘conspirators’ in alleged N7tr frauds linked to Emefiele
• Process heats up financial system • Top CBN officials, bankers attempt to induce…
Western countries destroying international financial relations system – Putin
The global economy is changing largely due to the fact that certain Western countries are destroying the financial relations system, Russian President Vladimir Putin said on Tuesday. “We know and can see how the…
Apple bows to EU rules with iPhone 15 upgrade
American tech giant, Apple, has unveiled its much-anticipated iPhone 15 and iPhone 15 pro at an event which was held on Tuesday, in California. Compared to their predecessors, the new gadgets have a number of…
BREAKING: FG inaugurates freight services on Apapa-Ibadan cargo rail
The Federal Government has finally inaugurated the first cargo movement from the Lagos-Ibadan rail corridor after initial concern over the under-utilization of the standard gauge rail line 2 years after its…
Export: SheVentures Offers Interest-Free Loans to Women Entrepreneurs
First City Monument Bank (FCMB) has launched the SheVentures Export Readiness Programme, a new initiative to support women-owned businesses in…
iPhone 15: Things You Should Know About Apple’s Latest Release
Tech company, Apple, is set to unveil its latest iPhone product, the iPhone 15 today, September 12. This model will be unveiled at…
Nigerian govt continues clampdown on loan apps, delists 37 illegal operators
The Nigerian government, through the Federal Competition and Consumer Protection Commission (FCCPC), has continued its clampdown on illegal loan apps in the country. In its latest report, the FCCPC reveals that 37…
‘N400b new notes, N2.2tr old notes in circulation’
Nigeria’s currency in circulation, which hit N2.60 trillion in June, might comprised N400 billion new notes and N2.2 trillion old bank notes.Currency in circulation (CIC) is the amount of cash in paper notes or coins…
PENGASSAN reacts as Dangote refinery misses production deadline
The 650,000 barrels per day Dangote Refinery is yet to begin production after the August commencement date, earlier announced by the President, Dangote Group, Aliko Dangote. While delivering his speech at the official…
Nigeria’s microfinance banking dream on brink of failure
With the recent licence revocation of some microfinance institutions, the Nigerian economy is currently being serviced by about…
Cautious optimism as FG adopts piecemeal negotiation out of $800m stuck funds
• Emirates, Etihad to resume flight operations as UAE lifts visa ban on Nigeria • UAE keeps mum on gains • FG, UAE may explore Egypt’s bailout option •…
Gas flaring: Nigeria loses $22.9 billion in 10 years -NOSDRA
The Nigerian Oil Spill Detection and Response Agency (NOSDRA) has stated that Nigeria from 2011 to 2021 recorded loss of over $22.9 billion to gas flaring. Adeshida, who…
BREAKING: New CBN circular stops banks from spending gains made from forex revaluation
In a move aimed at bolstering the Nigerian banking sector amid volatile foreign exchange (FX) rates, the Central Bank of Nigeria (CBN) has issued a new circular stopping banks from recklessly spending gains made…
BREAKING: Zenith Bank declares N15.70bn as interim dividend to shareholders
Zenith Bank Plc has declared an interim dividend of N15.70 billion (representing N0.50 per share) to be paid to shareholders for the half year ended June 2023. This was disclosed in the company’s corporate action…
UBA Offers Discounts, Benefits For Children, Parents With Back To School Package
Africa’s Global Bank, United Bank for Africa (UBA) Plc has announced its highly anticipated “Back2School” package, designed to provide exclusive discounts and benefits for both children and their parents. As the…
Three banks rake in N390bn on FX reform
The naira has depreciated by about 60 percent against the US dollar in the past few months, and Nigerian banks with substantial net foreign asset positions…
Grant BDCs Digital Autonomy, ABCON Urges CBN
The Association of Bureaux De Change Operators of Nigeria (ABCON) has urged the Central Bank of Nigeria (CBN) to grant Bureaux De Change (BDCs) digital autonomy to achieve exchange rate convergence. In a…
FG removing impediments to FX rate, inflation stability – Wale Edun tells Indian investors
Wale Edun, minister of finance and coordinating minister of the economy, has assured investors that the government is working to expunge macroeconomic impediments to the stability of the exchange rate and inflation…
Emiefele: Panic At CBN, NIRSAL As Investigators Swing Into Action
There is panic and apprehension within the top hierarchy of the Central Bank of Nigeria (CBN) as the team deployed to support the Special Investigator appointed by President Bola Tinubu to probe the…
$10 billion FX Backlog: CBN’s two-week plan is unrealistic – Experts
The Central Bank of Nigeria’s audacious plan to eliminate its $10 billion foreign exchange backlog within a mere two weeks has stirred both curiosity and skepticism among financial experts and traders in the country.…
Falling consumption, weak sales threaten FMCG businesses, jobs
• Inflation, high transport costs shrink income • Planned layoffs threaten low-paying jobs • High cost of children’s…
Acting CBN Governor architect of controversial currency redesign policy – Memo
The Acting Governor of the Central Bank of Nigeria, Folashodun Adebisi Shonubi, has been unveiled as the…
Olam Group denies reports of multi-billion dollar forex fraud in Nigeria, shares slump
Singapore's Olam Group (OLAG.SI) on Monday denied reports by the Nigerian media last week, alleging that its units in the African country were involved in a multi-billion…