Business

Aliko Dangote, Africa’s richest person, says Nigeria will stop importation of petrol into the country by June. Dangote spoke at the Africa CEO Forum Annual Summit in Kigali on Friday. He said the country should…

The Federal Government may consider assisting independent fuel marketers with funding to install Compressed Natural Gas sales pumps at filling stations across the country, Saturday PUNCH has learnt. This followed the…

President of the Pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote has called for increased investments in the African…

A Federal High Court in Abuja, on Friday, denied the bail application of a Binance executive, Tigran Gambaryan, in a money laundering trial. Justice Emeka Nwite refused to…

The Federal Inland Revenue Service (FIRS) says it collected a sum of N3.94 trillion in tax revenue in the first quarter (Q1) of 2024. Zacch Adedeji, FIRS executive chairman, announced the revenue figure on May 15.…

The founder of Stanbic IBTC and ANAP Foundation, Atedo Peterside said trying to make the naira appreciate against the dollar in a hurry will not work. Peterside stated this in an interview on Channels Television’s…

Julius Rone, the CEO of UTM Offshore, has been recognised with a prestigious award for his pioneering efforts in Floating Liquefied Natural Gas (FLNG) technology in Africa. Rone was conferred with the…

The Bola Tinubu-led government has reacted to an alleged plan to access the salaries and pension contributions of workers. Earlier this week, there were reports that the federal government plans to take from the pension…

The Federal High Court, Lagos has upheld a new Central Bank of Nigeria (CBN) regulation which requires financial institutions to demand and collect the social media handles of their customers, as part of the standard…

Two brothers, Anton Peraire-Bueno of Boston and James Peraire-Bueno of New York, were arrested yesterday in connection with a massive heist on the Ethereum blockchain which led to the loss of $25 million worth of crypto…

Dangote Oil Refinery in Lagos is seeking to buy millions of barrels of US crude over the next year as it ramps up processing rates. According to a document seen by Bloomberg, the Dangote plant, built by Africa’s richest…

Banks’ borrowings from the Central Bank of Nigeria, CBN, fell month-on-month, MoM, by 44 percent to N12.16 trillion in April from N21.7 trillion in March. Analysis of latest data from the CBN shows that the 44% drop…

The Central Bank of Nigeria (CBN) has granted approval in principle (AIP) to 14 new international money transfer operators (IMTOs). IMTOs carry out cross-border fund transfer services for individuals and entities…

The High Court of the Federal Capital Territory (FCT) in Maitama has granted Godwin Emefiele, a former governor of the Central Bank of Nigeria (CBN), a N300 million for printing new naira notes. At the court on Wednesday,…

Nigeria experienced a surge in its headline inflation rate, which reached 33.69% in April 2024.  The figure represents a significant increase compared to the previous month’s rate of 33.20%, indicating a 0.49% points rise…

Steak and grills every weekend, a trip to that music festival you always wanted, maybe even owning a place of your own. Those feel like…

The Federal Government has charged tax practitioners to work harder in getting more revenue from taxes, stressing that tax revenue is currently the highest income…

Gabriel Idahosa, president of the Lagos Chamber of Commerce and Industry (LCCI) has advised the federal government to discontinue any further levies as multiple taxes do not translate to increase in revenue. Idahosa…

The federal government has outlined plans to tap from locally available funds such as pension and life insurance to develop infrastructure in the country.  Minister of Finance and coordinating minister for the economy,…

The exchange rate between the Naira and dollar and the official NAFEM window fell to N1,520.4/$ on Tueday May 14, 2024. This is a 2.78% depreciation from the previous day close. This is the lowest in over 6 weeks…

President Bola Tinubu has suspended the 0.5 percent cybersecurity levy after criticism and protest trailed the announcement. Mohammed Idris, minister of information and national orientation, announced the suspension…

The foreign exchange loss of MTN Nigeria Communications Plc, the country’s biggest mobile network operator, rose to the highest in at least six years in the first three months…

In first-quarter (Q1) of 2024, foreign investors participation in Nigeria’s equities increased year-on-year (YoY) compared to Q1’23, summary of transactions as at March 31, 2024 showed. In the review Q1’24, foreign…

The naira continued its free fall across Foreign exchange (FX) markets, despite a surge in dollar supply at the official market. FX trading at the Nigerian Autonomous Foreign Exchange Market (NAFEM) witnessed a…