Business

The foreign exchange (FX) recorded zero (N0.01) gap between the official and parallel market as the dollar was quoted at N1,615 across markets on Wednesday. Data released by the FMDQ Securities Exchange showed that the…

The new Non-Executive Chairman of Access Holdings Plc (‘the Holdco’), Aigboje Aig-Imoukhuede, has said that the late Herbert Wigwe gave everything for their shared vision, adding that he is determined to ensure the vision…

Access Holdings Plc (the Holdco) has announced the return of Aigboje Aig-Imoukhuede as its Non-Executive Chairman. In response to the untimely passing of the immediate past Group Chief Executive Officer of Access…

Foreign investor demand for Nigerian assets and money sent home by citizens living abroad surged last month as reforms instituted by President Bola Tinubu’s…

Nigeria has hired investment banks including Citibank NA, JPMorgan Chase & Co. and Goldman Sachs Group Inc. to advise it on its first eurobond issue…

Binance stated it restricted 281 accounts belonging to Nigerian residents due to money laundering concerns in 2022 and extensively collaborated with the FG to protect users from illicit activity.  Binance’s team…

The US House of Representatives overwhelmingly approved a bill on Wednesday that would force TikTok to divest from its Chinese owner or be banned from the United…

…OGUN GOVT GIVES KUDOS TO IBESE PLANT No fewer than 305 youths from the Dangote Cement Ibese plant’s 17 host communities have so…

Over $47 million was stolen from approximately 57,000 crypto users in February by criminals using phishing scams to lure their victims.   According to a report by Scam Sniffer, a Web 3 anti-scam project most of the…

Rising diesel costs are squeezing businesses across the country, threatening to stall economic growth and pushing some companies to the brink, BusinessDay’s findings have revealed. Diesel, the lifeblood of…

The quest to attract more investors into Lagos State received a major boost with the coming of a $300 million steel manufacturing plant to be sited in the Lekki Free Zone, under the Lekki Free Zone Development Company…

President Bola Tinubu’s government has demanded that the world’s largest cryptocurrency platform, Binance, provide a list of the top 100 Nigerian users and their transaction details on the platform before detained…

Nadeem Anjarwalla, Binance’s regional manager for Africa, reportedly fell ill while in detention in Nigeria, WIRED is reporting. On February 28, the…

Saudi Arabia’s majority-owned state-owned firm, Saudi Aramco, is paying shareholders $97.8 billion in dividends in 2023, an amount higher than the size of Nigeria’s 2024 budget ($34 billion) indicating how a well-run oil…

Airbnb said on Monday said it is banning security cameras inside guest homes so as to prioritize privacy. The home rental platform previously allowed indoor security cameras in common areas such as hallways and living…

As the ‘Japa’ wave continues, the country in 2023 recorded a total of 15.89 million passengers which passed through the airports as against 16.17 million in 2022. Stakeholders and travel agents who blamed the drop…

Bode Abifarin has resigned from her position as the chief operating officer (COO) at Flutterwave. In a LinkedIn post, Abifarin said she is leaving to pursue her passion for “teaching, inspiring, and nurturing the next…

The Manufacturers Association of Nigeria (MAN), and the Lagos Chamber of Commerce and Industry (LCCI) has commended the federal government for its decision to halt the implementation of the expatriate employment levy…

The Nigerian stock market, the NGX appreciated to its highest level in nearly a month as investors positioned for the much-anticipated return of FPIs.  The All-Share Index appreciated by 1.45%, representing a…

The Central Bank of Nigeria (CBN) has further increased the exchange rate for calculating Customs duties at the nation’s seaports by 1.9 percent. The Customs exchange duty rate was raised from N1, 593.888/$ to N1,…

The Central Bank of Nigeria (CBN) is scheduled to hold a Treasury Bills (T-Bills) Primary Market Auction (PMA) on Wednesday March 13. Treasury bills (T-bills) are marketable money market securities that raise money for the…

After a riotous February, naira seems to be on a new price-discovery path even as multiple estimates agree the currency is currently trading below its “fair value”, suggesting a significant appreciation that will raise…

Unity Bank Nigeria Plc is projecting a pre-tax loss of N20.7 billion in the second quarter of 2024 highlighting the financial challenges faced by the bank. The bank faces a negative shareholder fund of N190.2 billion per its…

The total value of Nigeria’s used vehicle import increased significantly from N325.05 billion in 2022 to N1.063 trillion in 2023- marking an increase of 226.46% over a one-year period.   Between 2022 and 2023, the…