Business

Nigeria recorded a balance of payment (BOP) surplus of $6.83 billion in 2024, marking a sharp reversal from consecutive deficits posted in the prior two years. The latest figures, released by the Central Bank of…

The Nigeria Deposit Insurance Corporation (NDIC) has announced that it will pay a 100% liquidation dividend to depositors of 20 previously failed banks, marking a major milestone in the agency’s commitment to financial…

China has responded to Donald Trump’s tariff policies by increasing its levies on U.S. imports to more than 80%. The move was announced by China’s Office of the Tariff Commission of the State Council, and it disclosed…

The Federal Government has confirmed the crude and refined product sales in Naira initiative remains a standing national policy and will continue indefinitely. However, the policy will stay in place as long as it…

Nigerian pension fund managers have tripled their exposure to infrastructure over the past five years, driven by better…

Elon Musk, the CEO of Tesla and SpaceX, has experienced a substantial financial setback, losing an astonishing $100 billion over a span of just four months.This significant…

Pascal Gabriel Dozie, founder of the defunct Diamond Bank Plc and former chairman of MTN Group, died yesterday, a day before his 86th birthday. At 85, Edozie was a prominent businessman whose passion for banking…

Tope Fasua, special adviser on economic affairs in the office of the vice president, says concerns over naira value and poverty are misunderstood.Fasua was…

A wide range of economists are voicing alarm over US President Donald Trump’s tariffs blitz, which has sparked a trade war that experts say could lead to a global recession. Here are comments from some leading…

One of Nigeria’s most respected bankers, entrepreneurs, and nation-builders, Pascal Gabriel Dozie, has passed on at the age of 85. A family member who confirmed…

..Investors lose N659bn ..$5.3trn wiped off S&P 500 in two days Stock investors in Nigeria were left reeling from the impact of U.S President Donald Trump’s tariffs on global markets. Investors lost…

Despite skepticism associated with the Compressed Natural Gas policy, the Federal Government has put the level of investment attracted to the sector at over $491million within the last one year. This was disclosed…

Nigeria’s foreign exchange market came under renewed pressure on Monday as the naira weakened to N1,629 per dollar at the official market. This compared to N1,600/$1 reported at the close of trading on Friday. This…

Binance Holdings Limited has prayed to the federal high court in Abuja to set aside the ex-parte order granted the Federal Inland Revenue Services (FIRS) for substituted service on the company, which allows legal…

MTN Group, Africa’s largest mobile operator, has announced plans to launch a new streaming platform for mobile and fixed broadband users across the continent, a development that will challenge current market players like…

Gradually but noticeably, food prices in Nigeria are beginning to drop, bringing a sigh of relief to many households. A market survey of Lagos and some other major cities shows a steady decline in the cost of…

Defunct Heritage Bank’s depositors with N5 million minimum balance have described as unacceptable the announcement by the Nigeria Deposit Insurance Corporation’s (NDIC) that they will receive only partial payment of…

The Nigerian Aviation Handling Company has posted its strongest financial performance yet, doubling its pre-tax profit to N18.70bn and growing revenue by 88.5 per cent to N53.54bn in 2024, according to its newly…

According to Johnson Chukwu-led fund managers at Cory Assets Management Limited, Nigeria may strengthen trade ties with China, the European Union, and the BRICS nations (Brazil, Russia, India, China, and South Africa) to…

The ultimate paradox is unravelling in Nigeria as banks declare record profits at a time when several businesses are reporting…

The Central Bank of Nigeria (CBN) sold dollars on the official market Friday as it stepped in to bolster liquidity after the…

The Federal Government has disclosed that it is consulting with the United States and the World Trade Organisation (WTO) to evolve a mutually beneficial solutions to the 14 percent tariff imposed on Nigerian export…

*Morgan Stanley predicts 60% chance of global recession by year end Global stock markets extended their recent rout at the weekend, with S&P 500…

The Central Bank of Nigeria (CBN) has injected $197.71 million into the foreign exchange (FX) market on Friday, April 4, 2025, as part of its ongoing commitment to ensuring adequate liquidity and maintaining…