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Nigerians face most expensive Sallah in 30 years as price of ram, tomatoes, rice skyrocket
Nigerians are bracing up for the most expensive Sallah holidays in over 30 years as prices of essential food items such as rice, tomatoes and ram hit record highs. Nigeria is currently experiencing its highest…
Big 4 maintain market dominance as audit firms earn N17.34 billion fees in 2023
The big audit firms in Nigeria, KPMG, PWC, Deloitte, and EY, typically referred to as the Big Four maintained industry dominance yet again in 2023, as 50 of the most capitalized companies on the Nigerian exchange paid…
Multichoice Group has an account balance of N31.6 billion with Heritage Bank
Multichoice Group, owners of DSTV, had an account balance of N31.6 billion with Heritage Bank, before the bank’s liquidation. According to the group’s annual report for FY 2024, Multichoice had a deposit of N33.7…
BREAKING: Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms
The World Bank has announced the approval of two significant financial operations aimed at bolstering Nigeria’s economic stability and supporting its vulnerable populations. According to a statement from the…
Credit scheme: FG to integrate credit score into NIN, targets 80 million Nigerians
The Federal Government has said it would leverage the National Identification Number (NIN) to document the credit behaviour of every Nigerian under its consumer credit scheme. The Chief Executive Officer of the…
NNPC applies to withdraw suit challenging ExxonMobil’s $1.28 billion asset divestment to Seplat
The Nigerian National Petroleum Company Limited (NNPC) has filed a motion in the High Court of the Federal Capital Territory, Abuja, seeking to discontinue its ongoing legal action against several subsidiaries of…
Refinery: Oil Sector Mafia Stronger Than Drug Mafia – Dangote
Africa’s richest person, Aliko Dangote, says local and foreign mafia tried several times to sabotage his $19 billion refinery from coming to fruition. This is as he said he has repaid about $2.4 billion of the $5.5…
NDIC lists Heritage Bank’s head office, other assets for sale
The Nigeria Deposit Insurance Corporation has listed the head office in Lagos and branches of failed Heritage Bank across the country for sale in its role as liquidator of the bank. NDIC announced the sale of the bank…
We secured about $5.5 billion loans to build Refinery…. $2.4 billion paid back – Aliko Dangote
Africa’s richest individual, Aliko Dangote, has revealed that his company secured in bank loans a swooping sum of about $5.5 billion to build the Dangote refinery. Dangote made this disclosure on Wednesday during the ‘AfriCaribbean…
Nigerian oil loses shines as buyers opt for cheaper options
…France is now the biggest buyer Nigeria’s oil exports, a major source of FX, are facing headwinds as traditional buyers continue to…
Banking sector remains safe – CIBN assures customers
The Chartered Institute of Bankers of Nigeria has reassured the bank customers of the safety and soundness of the Nigerian banking sector. The reassurance, contained in a statement signed by the President/Chairman of the…
Nine of 29 directors survive as CBN implements Obazee Report
Sixteen of the twenty-nine directors heading different units of the Central Bank of Nigeria(CBN) have been disengaged, sources familiar with the operations of the apex bank told PREMIUM TIMES. Only nine departmental…
Company Income Tax Dips N135.4bn, VAT Grows N230bn In Q1
Company Income Tax has dwindled to N984.61 billion showing the stark reality of country’s economy that has forced many businesses to…
Foreign airlines’ fares are now lower than Air Peace as price war continues on London route
Competition on the popular Lagos-London route has intensified, with foreign airlines slashing fares, some even undercutting Air Peace Airline, the only Nigerian carrier on the route. An economy class return ticket on…
Tolaram splashes over N100bn for Diageo’s 58.02% stake in Guinness
… stock price rises first time in weeks Tolaram, a Singapore-based holding company is set to spend about…
Uncertainty clouds Nigeria’s Eurobond plans
Nigeria’s plans to issue Eurobonds, once seen as a path to bolster government finances, have been clouded by uncertainties, according to findings by BusinessDay. Africa’s biggest economy had been aiming to raise funds…
CBN reassures heritage bank customers, others of safety of bank deposits
The Central Bank of Nigeria (CBN) has reassured members of the banking public, particularly customers of Heritage Bank of the safety of their deposits and the banking system’s resilience. This follows the recent…
Bode George seeks shareholding for Dangote Refinery’s host communities
Former Deputy National Chairman of the People’s Democratic Party (PDP), Olabode George, has canvassed shareholding for host communities of Dangote Refinery and Petrochemical projects. He advised the President of Dangote…
Dangote Refinery moves date of production of petrol from June to mid July
Africa’s largest oil refinery, Dangote Refinery, has moved the date of production of premium motor spirit (PMS), popularly known as petrol, from June to the middle of July. The President and CEO of the refinery, Aliko…
Dangote Sinotruk Targets 60% Local Content With New Plant
The President of the Dangote Group, Alhaji Aliko Dangote, has reaffirmed the readiness of one of his companies, Dangote Sinotruk West Africa Ltd (DSWAL), to… The President of the Dangote Group, Alhaji Aliko Dangote, has…
Sacked CBN employees seek reinstatement, fault dismissal
Some sacked employees of the Central Bank of Nigeria (CBN) have questioned the manner of their dismissal…
All eyes on Adaora Umeoji as she officially becomes Zenith Bank’s GMD/ CEO
Zenith Bank Plc, long known for its leadership in the Nigerian banking sector, is poised to usher in a new era of excellence under the leadership of…
Northern youths threaten nationwide shutdown over alleged ethnic cleansing at CBN
The Conference of Autochthonous Ethnic Communities Development Association (CONECDA) Youth Wing has threatened to shut down…