Business

The Securities and Exchange Commission (SEC) says the lack of proper identification of investors is a key factor contributing to unclaimed dividends. Speaking during a recent interview, Emomotimi Agama, SEC’s…

The introduction of a new windfall tax on Nigerian banks has continued to generate debate. While some have argued that the policy could hurt financial…

The 650,000-barrel-per-day Dangote refinery is undergoing test runs for petrol production, with full operation expected by mid-September. This is according to a report by Reuters which quoted a note by industry…

Nigeria’s cost of living is easing for the first time since late 2022, offering an unexpected respite for households and a possibility of the Central Bank of Nigeria (CBN)’s interest rate cut in September. Monthly…

…provides scant information on seller The Nigerian National Petroleum…

Shareholders of First Bank of Nigeria (FBN) Holdings, Nigeria’s oldest financial institution, are growing increasingly anxious as recent crises and scandals have caused the company’s share price to plummet by over…

The Nigeria National Petroleum Company Limited (NNPCL) has said its investment decisions are strictly determined on the basis of commercial viability and national interest. It spoke in response to former…

Oando PLC has successfully completed its acquisition of the Nigerian Agip Oil Company (NAOC) from Italian energy giant Eni for a total consideration of $783 million. The company confirmed via a press release that…

The Central Bank of Nigeria (CBN)’s latest attempt to shore up the ailing naira by offloading a record amount of dollars…

Over 40% of importers forced out of business, operators claim The burden of overall foreign exchange (FX) volatility and particularly in adopting the spot trading rate in determining import duty assessment may…

BUA Foods Plc has signed a deal with a Turkish milling equipment manufacturer, IMAS to build four new wheat milling factories with a capacity to mill up to 3200 tonnes daily. The company disclosed this in a…

Businesses in Nigeria say they expect the Naira to continue to depreciate in the next three months beginning from July but will begin appreciation after six months. This is according to the Central Bank of…

… Urges President Tinubu to implement directive on crude supplyto Dangote refinery, others The Nigerian Bar…

NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited, has ceased to exist after a court-approved transfer of its ownership and assets to OVH Energy Marketing Limited, a company it claimed…

The Nigerian currency lingers at N1600/$ in the black market on Wednesday morning, despite improved market fundamentals in the country’s FX market and the dollar index trading near its 7-month low. Naira short…

The Federal Government of Nigeria has disclosed the need for specific identification requirements for its latest financial instrument, the Domestic FGN US Dollar Bond. This is according to a Frequent Asked Questions…

In the intricate dance of commerce, where fortunes are won and lost few have pirouetted with as much grace and precision as…

...Economists say subsidy affecting govt revenue President Bola Tinubu’s administration has spent N15. 096 trillion on petrol subsidy in the last 14 months, according to BusinessDay’s calculations. The…

For the first time in three months, Nigerians are experiencing some relief as diesel prices fell in July, easing to N1,379.48 per litre, according to the latest report by the National Bureau of Statistics (NBS). The…

THE Securities and Exchange Commission, SEC has said that the 15 per cent rule for absorption of oversubscription of share offers will not be rigidly applied to the share offers of banks under the banking…

An unending legal battle with some shareholders is threatening for the second straight year to stifle an annual meeting of shareholders of First Bank Holdings, the parent company of Nigeria’s oldest bank. A…

Sayyu Dantata, founder and chief executive officer (CEO) of MRS Oil and Gas, has been identified as one of the individuals behind the importation of petroleum products from Malta. Dantata is the half-brother…

Oil producers, under the aegis of the Independent Petroleum Producers Group(IPPG), have asked regulators to allow the sale of crude to the Dangote Petroleum Refinery and other local refineries to be based on…

Lack of consistency in dollar allocation to the Bureau De Change (BDC) operators by the Central Bank of Nigeria (CBN) is stampeding naira recovery, currency traders have submitted. They equally noted that…