Business

Julius Berger Nigeria PLC has announced the appointment of Dr. Mohammed Indimi, OFR, as a Non-Executive Director. This was disclosed on November 8, 2024, through an official statement published on the Nigerian Exchange…

The Central Bank of Nigeria (CBN) has, in new guidelines, clarified that commercial, merchant and non-interest banks (CMNIBs) should allow participants to convert their Internationally Tradable Foreign Currency…

For about 18 months now, Nigerian companies have been haunted by the devaluation of the Naira. With the Naira depreciating by over 70 percent in less than a year, companies reliant on imported inputs have faced…

The Central Bank of Nigeria (CBN) has given the green light to the commercial, merchant, and non-interest banks operating in Nigeria to trade with tradeable foreign currencies deposited in dorm accounts created…

The Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso, has announced that Nigeria’s foreign exchange reserves have reached over $40bn, marking their highest level in 33 months. He made the disclosure…

The wealth of billionaire Tesla and X owner, Elon Musk, has soared by about $13 billion hours after his ally, Donald Trump, won the United States presidential election. Early Wednesday, investors said Trump’s…

Vitol Group, Trafigura Group and BP Plc are the dominant buyers of fuels from Nigeria’s giant new Dangote oil refinery near Lagos that’s reshaping petroleum trading in Africa and Europe. The trio have accounted…

Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer…

The Naira yesterday appreciated to N1,720 per dollar in the parallel market from N1,725 per dollar on Monday. Similarly , the Naira appreciated to N1,671.32 per dollar in the Nigerian Autonomous Foreign Exchange…

Dangote Petroleum Refinery and Petrochemicals has advised Pinnacle Oil and Gas Limited that deregulation should not be used as a justification for…

A Federal High Court sitting in Abuja on Monday ordered the arrest of the Managing Director of Dana Air, Mr. Hathiramani Ranesh. Justice Obiora…

Pinnacle Oil & Gas yesterday stated that it will never sell substandard petroleum products to Nigerians. The statement by Pinnacle…

Nigeria’s foreign exchange market has yet to stabilise despite several initiatives by the Central Bank of Nigeria, Fitch Ratings, a global rating agency, has said. This view slightly contrasts with a report by the International Monetary…

The average price of imported high-quality loose rice has risen dramatically by 144.77 per cent over the past year, while the Federal Government delayed implementing its duty-free food policy. This information comes…

Residents and Point of Sale (POS) operators in Kano State are lamenting over cash scarcity in the state. Daily Trust reports that the problem of cash scarcity is hitting businesses and threatening survival by the…

Persistent network issues caused by electronic banking portal upgrades at some commercial banks are currently disrupting cargo clearance at Apapa and Tin-Can Ports. The disruptions have trapped many import containers…

Africa Oil Corp., a Canadian oil and gas company, has secured a significant boost to its long-term operations in Nigeria with the renewal of its Petroleum Mining Lease 52 (PML 52) for an additional 20 years. This…

Dangote Petroleum Refinery, Sunday, alleged that an international trading company has hired a depot to blend substandard petroleum products in Nigeria. The refinery said the international trading company plans to…

The Federal Government has begun the disbursement of N75bn loan to manufacturers 14 months after announcing the plan. Disbursed through the Bank of Industry at a nine per cent annual interest rate, the loan is to…

Oando Plc has released its financial result for the year ending December 31, 2023, posting a Profit-After-Tax (PAT) of N60.27 billion- a reversal from the N81.23 billion loss in the previous year. This is…

Following the ban on Nivea Black and White invisible roll-on deodorant, the German multinational company that manufactures, Beiersdorf, has said its product recently flagged by…

The Central Bank of Nigeria (CBN) says credit extended to the government by banks surged to N42.02 trillion in September 2024, representing a 78.6 percent increase from N23.52 trillion in January. Credit to the…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Thursday revealed a new government policy that would permit Nigerians who currently hold dollars outside the formal banking system to…

The Dangote Petroleum Refinery has clarified that it has no direct business dealings with the Independent Petroleum Marketers Association of Nigeria (IPMAN) regarding the purchase of refined petroleum products. In…