Business

Patrice Tlhopane Motsepe, the 62-year-old first black African Billionaire, is in talks with Vivendi SE’s Canal+ to join its multibillion-dollar bid for MultiChoice Group. Motsepe’s participation in the deal would likely…

…as lawyer withdraws appearance for fleeing Anjarwalla The detained Binance executive, Tigran Gambaryan, has sued the National Security Adviser (NSA) Nuhu Ribadu, and the Economic Financial Crimes Commission (EFCC)…

The exchange rate between the Naira and the Dollar closed at N1,300/$1 on Wednesday on the official NAFEM window, marking the strongest performance in over 8 weeks. This information comes from data obtained from the…

The exchange rate used for calculating customs import duties and cargo clearance has decreased for the fifth time in under two weeks, moving from N1,612 per dollar on March 15th to N1,405.46 per dollar currently.…

Although Nigeria produces one of the lightest and environmentally-friendly crude oil in the world, local refineries, especially Dangote refinery will import West Texas Intermediate (WTI) of about seven million barrels this…

Dangote Refinery, from next week, may begin sale of petroleum products, especially diesel, to local marketers, even as the Nigerian National Petroleum Company Limited (NNPCL) resumed direct sales of Premium Motor Spirit…

Contrary to the report making the rounds on X (formerly Twitter), Bureau De Change operators said there was no truth in reports that the dollar is now selling at N1,000 at parallel market. There have been rending reports…

Access Corporaion, Nigeria’s largest finance holding company has reported a profit after tax of N612.4 billion up 300% from the year before. This is the largest profit ever posted by the company and presided over by…

Airfares for travels from Nigeria to other countries have seen a significant drop, following the appreciation of the naira and the competition arising from Air…

MTN Group, Africa’s largest network operator by subscriber base, has accepted an undisclosed offer from Africa-focused telecommunication service, Telecel, for the sale of its equity interests in MTN Guinea-Bissau…

*Raises interest rate by another two per cent  *Money supply defies hawkish stance, spikes by 79 per cent in one year *We are done with Binance saga, says Cardoso*$2.4 billion unauthorised FX under investigation …

The governor of the Central Bank of Nigeria, Yemi Cardoso, has made it clear in the context of the recent clash between the federal government and Binance, that the task of regulating cryptocurrency trading platforms…

An Oil and Gas expert, Mr Emmanuel Iheanacho, says the improvement observed in the value of the naira, would not bring about an automatic reduction of petroleum pump price. Iheanacho, Chairman, Integrated Oil and Gas Ltd,…

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has expressed concern over CBN’s MPR hike to 24.75%, warning of negative impacts on Nigeria’s private sector.  In a statement…

Law enforcement agencies are currently investigating a series of invalid foreign exchange transactions valued at $2.4 billion, according to Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN). This…

The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite actions on the increase of their capital base in order to strengthen the financial system against potential risk. This…

The CBN’s Monetary Policy Committee (MPC) has increased the benchmark interest rate by 200 basis points from 22.75% to 24.75%. This was disclosed by the Governor of the CBN who doubles as the Chairman of the MPC at…

The exit of Binance from Nigeria will have huge effect on the revenue of Internet service providers in the country, an IT expert, Professor Haruna Chiroma, has said.  Chiroma, a lecturer at Hafr Al-Batin University, Saudi…

The wife of  Nadeem Anjarwalla, the Binance executive at the center of the squabble with Nigerian authorities, Elahe, last week told The Sunday Times, UK,…

Nigeria’s broad money supply (M3) has surged to a new historic high of N95.56 trillion as of February 2024 despite the hawkish tightening stance of the Monetary Policy Committee (MPC).  This figure represents a…

Sterling Bank’s Managing Director/Chief Executive Officer, Abubakar Suleiman has claimed that professional bankers who are wealthy may be stealing. He…

The naira yesterday appreciated to N1,430 per dollar in the parallel market from N1,470 per dollar last weekend. Similarly, the naira yesterday appreciated to N1,408. 04 per dollar in the Nigerian Foreign Exchange…

A  former Assistant Director, Department of State Services, Dennis Amachree, has bemoaned how a fleeing executive of Binance, Nadeem Anjarwalla, escaped from the custody of the Office of the National Security…

The Federal Government, on Monday, contacted the International Criminal Police Organisation and issued an arrest warrant for the apprehension of one of the detained executives of a global crypto-currency firm,…