Business

Transcorp Power Plc is listed on the Nigeria Exchange on Monday, March 4th gaining 10% and closing at a share price of N264 per share.   This gives us a valuation of N1.98 trillion meaning it gained a whopping N180 billion…

The Central Bank of Nigeria (CBN), on Friday attracted $530 million from Foreign Portfolio Investors, FPIs during the sale of N1.053 trillion worth of Treasury bill sales held on Friday. The CBN offered N500 Billion at…

The Central Bank of Nigeria (CBN) said it successfully concluded a sale of government securities, issuing N1.053 trillion (about $680 million) in short-term instruments as part…

The naira is likely to maintain gains this week, after appreciating for three straight days following the Central Bank of Nigeria’s move last week to increase the Monetary Policy Rate (MPR) by a record among other reforms…

EFFORTS by the Federal Government to curb the rising inflation will lead to N5 trillion cash mop up from the banking industry as the Central Bank of Nigeria, CBN implements the hike in banks’ Cash Reserve Ratio, CRR to 45…

Algrain Foods Limited was a customer of First City Monument Bank (FCMB) and First Bank of Nigeria Limited (FBNL) and both Banks advanced credit facilities to…

INDICATIONS have emerged that more multinational corporations and indigenous companies operating in the country risk more Foreign Exchange losses as exchange rate woes continue to pose a challenge to their operations.…

The relentless surge in diesel prices, now exceeding N1,700 per litre, is delivering a crippling blow to Nigerian businesses already struggling with chronic power outages, according to findings by BusinessDay. The…

The Central Bank of Nigeria has said it would sell N1.64trn worth of treasury bills, for the second quarter of 2024. The apex bank made this known in the Treasury Bills Issue programme released on Friday. Treasury bills…

The Central Bank of Nigeria on Friday revoked the licences of 4,173 Bureau De Change operators over their failure to meet regulatory guidelines. The apex bank disclosed this in a statement by its acting Director,…

Amid the ongoing issues faced by Binance in Nigeria, it is pertinent to note that the cryptocurrency firm has also been banned in several other countries. Binance, founded in 2017 by Changpeng Zhao, is currently…

The Central Bank of Nigeria (CBN) has revoked the operational licenses of more than 4,000 Bureau De Change (BDC) operators registered under its oversight. The apex bank indicated that the revocation was due to the…

Nigeria’s large and growing population is impossible for business to ignore and a recent exodus from the West African state won’t last, South African billionaire Christo Wiese said in an interview on Bloomberg TV. “How do…

Passengers and travel agents are now heaving a sigh of relief as foreign airlines operating into the country have released low-inventory tickets, Daily Trust’s findings have shown. This was made possible through the…

Binance Holdings Ltd said on Friday that it was not in any talks with the Nigerian government about potentially paying up to $10 billion in fines, contradicting a government spokesman’s statement to the BBC hours…

MTN Nigeria recently released its 2023 FY results, reporting its first-ever loss of N177.8 billion, which resulted in a wipe-out of shareholders’ funds. The company attributed the losses to forex losses, stating that it…

The Federal Government has slammed a $10 billion fine on crypto trading platform, Binance, over allegations of influencing the country’s forex crisis. The special adviser to President Bola Tinubu on information and…

Dangote Cement Plc reported a profit after tax of N455.58 billion for the financial year ended December 2023, representing a 19.7% increase year-on-year.  The year-on-year growth in profits, despite growth in interest…

The Office of the National Security Adviser(ONSA) on Thursday confirmed that the crypto exchange platform, Binance, is being investigated by Nigerian authorities. In its first official confirmation of the…

MTN Nigeria Plc has reported a loss before tax of N177.8 billion compared to a pre-tax profit of N518.8 billion a year earlier. The losses resulted in a wipe-out of shareholders’ funds.  The company attributed the…

President Bola Ahmed Tinubu has directed cement companies to go back to the status quo as regards to the price of the commodity. Minister of Works, Senator David Umahi, revealed this to newsmen shortly after inspecting…

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso has stated that the remainder of the bank’s FX backlogs will be cleared in the next few days- most likely in a week and a half.   The bank’s chief…

Peter Obi, the presidential candidate for the Labour Party in the last general election, has expressed concern that raising the Monetary…

Dara Khosrowshahi, the chief executive officer of Uber, has been awarded options to purchase stock valued at approximately $136 million after successfully achieving a performance target aimed at securing a $120 billion…