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Court Restrains First Bank over GHL, Otedola, Others Face Arrest
•Oil firm to sue for $1 billion damages over bank’s alleged breach of contract •More shareholders oppose bank’s private placement More facts have emerged concerning the alleged failure of the First…
March 2029 Eurobond Yields Surpass 9% Amid Market Volatility
The Debt Management Office (DMO) has released a detailed report on the Nigeria Eurobonds’ performance, stating March 2029 Eurobond had a closing price of $97.375, translating to a yield of 9.016 per cent. The Debt…
Telecom Tariff Hike Could Ease Inflation – Bismarck Rewane
Bismarck Rewane, the Chief Executive Officer of Financial Derivatives, has voiced his support for the proposed telecom tariff hike, emphasizing its potential to boost productivity and help moderate inflation in…
Tinubu Calls For Increased Currency Swap Between China, Nigeria
President Bola Tinubu on Thursday urged the Chinese government to increase the two billion dollar currency swap between Nigeria and China to enhance trade between the two countries. He also called for an upward review…
More First Bank shareholders reject plan for ‘strange’ N350bn private placement
The group of shareholders of outraged shareholders of First Bank, Nigeria’s oldest financial institution who are are…
Nigeria’s bustling tourism rides weak naira to lure global fans
The 2024 Detty December season once again cemented Nigeria’s place as a cultural and entertainment powerhouse. Yet, it also…
Court Freezes Assets, Accounts Of Nduka Obaigbena’s General Hydrocarbons Limited In All Nigerian…
A Federal High Court in Lagos State has granted an ex-parte order, effectively freezing General Hydrocarbons Limited's assets…
BREAKING: CBN halts extension of export proceeds repatriation for exporters
The Central Bank of Nigeria (CBN) has issued a circular announcing the immediate suspension of approvals for the extension of export proceeds repatriation on behalf of exporters. Dated January 8, 2025, the…
Nightclubs in Lagos raked in N4.32bn during Detty December – Report
Lagos, arguably Nigeria’s go-to entertainment hub, was the spotlight of the recently concluded “Detty December” with nightclubs in the state alone generating a staggering N4.32 billion ($2.7 million) during the…
FirstBank: Shareholders Demand EGM, Want Otedola, Omodayo-Owotuga Ousted
•Move against N360 billion private placement of bank shares A group of shareholders at the First Bank of Nigeria Holdings Plc., with 10 per cent of the company’s shares, yesterday, formerly requested the…
Global appetite for seafood opens opportunity for Nigerian exporters
The global appetite for shrimps, crabs and prawns is on the rise, opening an opportunity for Nigeria’s entrepreneurs to export and earn substantial dollars.…
Investors pick Kenya over Nigeria as startup funding falls to $2.2bn
Startup investors signed more cheques for Kenyan founders than Nigerian counterparts in 2024. For the second year running, East Africa attracted…
Inflation, MPR to decline as naira seen stabilising in 2025
As Nigeria transitions into a new year where many analysts have predicted more cautious optimism, experts have said inflation may begin to…
Lasaco Assurance allots N11bn shares from private placement
Life and general insurance, Lasaco Assurance Plc, has announced the allotment of 9,250,000,000 ordinary shares of 50k each at N1.20 per share from a private placement. This was disclosed in an advertorial…
Price of calls to rise as FG agrees to tariff hike
The federal government has agreed to demands for tariff hikes in the telecommunication industry. This is expected in the coming weeks, as the…
Northern Groups Seek VAT Reversal To 3%
Opposition to the Tax Reform bills remains unabated as the coalition of Northern Groups (CNG) Gombe State Chapter, together with Civil Society Organizations…
Forex allocations for fuel imports rise to $1.25bn
The Central Bank of Nigeria says it released a total sum of $1.25 billion to oil sector operators for the importation of petroleum products and other related items into the country between January and September 2024. This…
Why is food so expensive in a food-producing nation?
Millions of Nigerians are fighting an unparalleled daily battle for survival, with families finding it difficult to obtain even one meal. People…
Pension fund shocker: April 1 deadline looms for employers over remittances
Employers will not be able to remit deducted pension funds into employees’ Retirement Saving Accounts, RSAs, from April 1, 2025, if they fail to key into a new standardized payment schedules system that have been…
GTCO PLC Announces Successful Completion of the 1st Phase of Its Equity Capital Raise Programme;…
Guaranty Trust Holding Company Plc (“GTCO Plc” or the “Group”) (NGX: GTCO) is pleased to announce the successful…
Arewa Youths Reject CBN’s Planned Layoff Of 1,000 Staff
The Arewa Youth Assembly (AYA) has rejected the move by the Central Bank of Nigeria (CBN) to reduce its workforce by 1,000, saying the layoff will destabilise the economy and increase the poverty level in the…
Mass layoff: Disengaged staff members sue CBN, demand N30bn compensation
Former staff members of the Central Bank of Nigeria (CBN) who were dismissed in a mass layoff last year, have sued the apex bank. In a court document seen by TheCable on Monday, the workers alleged that the CBN violated…
FG Can Retain VAT As It Is – Oyedele
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has said it is possible for the current Value Added Tax structure to be kept as it is given the controversies it had…
No Plan To Devalue Naira Again In 2025 – CBN
The Central Bank of Nigeria (CBN) will apply part of the $2.2 billion Eurobond proceeds to exit its numerous swaps as it allayed the market’s fear of further Naira devaluation in 2025. “No, we are not devaluing”, a…