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Naira appreciates to N1,650/$ in parallel market
Yesterday, the Naira appreciated N1,650 per dollar in the parallel market, compared to N1,655 on Monday. Similarly, the Naira appreciated to N1,535 per dollar in the official foreign exchange market. Data…
NLC insists on withdrawal of Tax Reform Bills
The Nigeria Labour Congress, NLC, yesterday insisted on the withdrawal of the Tax Reform Bills forwarded by President Bola Tinubu to the National Assembly for passage to enable all key national stakeholders to be…
Illicit money will be taxed under new tax bill – Taiwo Oyedele
The Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has said that illicit funds in Nigeria such as laundered money or proceeds of crimes will also be taxed under the controversial tax…
X to launch payment system in 2025
Linda Yaccarino, the chief executive officer (CEO) of X, formerly Twitter, has announced that the social media platform will launch a payment system called X Money in 2025. In a statement on X on Tuesday, Yaccarino…
FG borrowings pushes money supply to N108.96tn – CBN
The Central Bank of Nigeria (CBN) said that Nigeria’s Broad Money Supply (M2) increased by 51% year-over-year (YoY) to N108.96 trillion in November 2024 as a result of the Federal Government’s increased borrowings. The…
Ardova agrees bulk purchase framework with Dangote Refinery
Ardova Plc has agreed to a bulk purchase framework with Dangote Refinery. This is in a bid to guarantee supply security at affordable prices for its customers. This framework will see Ardova Plc offtake a full…
FG targets 3m bpd crude oil production by 2025
Heineken Lokpobiri, minister of state for petroleum resources (oil), says the federal government has plans to achieve a target of three million barrels per day (bpd) in crude oil production by 2025. Lokpobiri spoke on…
BREAKING: FirstBank exits 100 Senior Staff members in major reorganizational shakeup
FirstBank, the oldest bank in Nigeria and part of FBN Holdings’ entities has exited close to 100 senior staff members in what our sources…
North-South Power, Axxela, and Stanbic Infrastructure Fund Consortium wins bid to acquire majority…
West Power and Gas Ltd (WPG), the parent company of Eko DisCo, Nigeria’s second-largest distribution company (DisCo), is close to…
World Bank releases $1.5 billion loan to Nigeria after subsidy removal, tax bills
The World Bank has disbursed a $1.5 billion loan to Nigeria under the Reforms for Economic Stabilisation…
FCMB Group Plc Announces Successful Completion of its Public Offer, raises ₦147.5 billion with 33%…
FCMB Group Plc (“FCMB Group” or the “Group”), a leading financial services group, is pleased to announce the successful…
Telecoms operators demand tariff review, to begin service shedding
The Association of Licensed Telecommunications Operators of Nigeria on Monday said its members would start service shedding, if nothing was done to increase…
Naira’s free fall threatens 2025 fiscal plan
…as CBN forex policy flops Budget rose 74% nominally but shrunk 23% in real value A tough fiscal year 2025 appears to be underway following the tall order in currency valuation which may restrict the…
Naira seen hitting N1,804/$ on 2025 volatility projections – Report
The Nigerian naira is projected to depreciate to a weighted fair value of N1,804.45 in the coming year as tendency of volatility persists. This is according to a new report by Lagos-based investment and research…
‘Everybody Loves Jenifa’ Pushes Cinema Sales To ₦1bn In One Week
Funke Akindele’s newly released movies, “Everybody Loves Jenifa” and “Alakada! Bad and Boujee”, have pushed Nigerian cinemas to record ticket sales of over ₦1 billion in one week. According to Nile Media…
Olam Group sells $1.24B stake in agri unit to Saudi investment firm
Olam Group Limited has completed the sale of a 35.43% stake in its agricultural division to Saudi Arabia’s SALIC International Investment Company for US$1.24 billion. The deal, which closed on December…
NLC hails fuel price slash by Dangote refinery
*Says it bring timely relief for Nigerians The Nigeria Labour Congress (NLC) has Dangote Refinery over the recent slashed…
MultiChoice offers three-day free access to all DStv channels
All DStv customers will have free access to all DStv channels from December 27 to 29, regardless of their current subscription package. This is…
Telecom Operators Lose N35.4bn To Fibre Cable Cuts In 1 Year
The telecom operators in Nigeria have bemoaned frequent fibre optic cable cuts, leading to a loss of at least $23m (35.4bn) in 2023. This has also caused internet outages, impacting telecom service quality in the…
The true story of how NNPC’s investment in Dangote refinery fell to 7.2% – Aliko Dangote
The chairman of Aliko Dangote Industries Limited, Aliko Dangote has told the true story of how the planned investment of state owned oil company Nigerian National Petroleum Company (NNPC) fell to a mere 7% from…
CBN disqualifies 41.65m shares in Access Holdings rights issue
The Central Bank of Nigeria has disqualified 41.65 million shares worth N822.60m in Access Holdings Plc’s recently concluded rights issue. In a corporate notice filed on the Nigerian Exchange Limited on Wednesday,…
Net Forex inflow rises 70% to $42 bn
Nigeria’s net foreign exchange inflows rose by 70.5 percent year-on-year (YoY) to $42.06 billion in the first nine months of 2024 (9m’24) from $24.66 billion in the corresponding period of 2023. Details in…
JUST IN: NNPC reduces petrol price to N965/litre in Abuja
NNPC Limited has reduced the pump price of petrol at its retail outlets in Abuja to N965 per litre, down from N1,030 per litre. Visits to NNPC retail outlets in the Central Area and Nyanya suburb of the nation’s…
Naira rebound seen in 2025 on higher FX inflows
… Lower petrol, food importation could strengthen currency The naira could see better days in 2025 as analysts project higher foreign exchange inflows into Nigeria as well as lower petrol and food…