Business

The Kenya Police Service has arrested fleeing Binance executive, Nadeem Anjarwalla, as the International Criminal Police Organisation moves to extradite him to Nigeria within the week. Government sources familiar with…

Segun Alebiosun, the Executive Director and Chief Risk Officer appears set to be named the acting Managing Director and Chief Executive of Nigeria’s oldest financial institution, First Bank. He is expected to take the…

West Power & Gas Limited, the parent company of Eko Electricity Distribution Plc (EKEDP) has sacked the immediate former MD/CEO of the electricity distribution company, Ms Tinuade Sanda. Sanda’s appointment with WPG Ltd…

The Federal Government on Saturday announced that it has qualified for processing a loan, described as ‘virtually a grant’ of $2.25 billion from the World Bank at 1 percent interest rate. Wale Edun, the finance minister,…

Manufacturers under the aegis of the Manufacturers Association of Nigeria Export Group have faulted a recent decision by the Central Bank of Nigeria directing deposit money banks to stop the use of foreign currencies as…

The federal government says it is considering the issuance of a diaspora bond to boost remittances. Wale Edun, the minister of finance and coordinating minister of the economy, disclosed this to journalists at a…

The Economic and Financial Crimes Commission has instituted a further crackdown on currency speculators and cryptocurrency platforms manipulating the naira, Sunday PUNCH has learnt. Impeccable sources within the…

The Governor of the Central Bank, Olayemi Cardoso, has stated that the apex bank is no longer in “firefighting” mode and has now switched to strategic planning in its efforts to achieve forex stability. This…

Speculators count losses as naira rises against dollar Naira will continue to appreciate against dollar – Shettima The Naira appears to be up against a…

Vice-President Kashim Shettima says President Bola Tinubu ended petrol subsidy and multiple exchange rates in the official market because they were…

Oil marketers are gearing up to load refined petroleum products from the Port Harcourt Refining Company, as workers at the facility race to get it set for production on the directives of the Nigerian National Petroleum…

The Central Bank of Nigeria (CBN) task forceformed to double remittance inflows into Nigeria will report directly to Yemi Cardoso, the Governor of the CBN. The Governor of the CBN, Yemi Cardoso, made this statement…

This is the weakest it has been since April 8, when the official rate closed at N1,230.61/$1, suggesting downward pressure ahead of the weekend.  The exchange rate at the official window strengthened to N1,072.4 on…

The Federal Government has revealed the factors responsible for the high cost of consumables and other items across the country. Addressing journalists aster a visit to Masaka Market in Nasarawa on Friday, the director…

The board of First Bank has convened an emergency meeting at the bank’s headquarters in response to the unexpected resignation of the Managing Director, Adesola Adeduntan. Mr. Adeduntan’s resignation, announced just eight…

Nigeria’s commodities exchange plans to offer crude oil and gas trading to deepen access to financing for the industry that’s the biggest foreign-exchange earner for the…

…targets 20,000bpd The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner in OML 85, First Exploration and Petroleum Development…

Cryptocurrency exchange company, Binance said it is working very closely with the Nigerian government over its detained executive. The CEO of Binance, Richard Teng, disclosed this on Thursday with the company’s…

Ecobank Transnational Incorporated has repaid its $500 million five-year Eurobond, which was due today, April 18th. The bank stated this in a corporate filing with the Nigerian Exchange Limited, as obtained by PUNCH…

Prices of paddy are beginning to come down in many grain markets in the country as the dry season harvest begins, a Daily Trust survey has shown. Paddy is rice in its husk before threshing, and is the major ingredient…

The Central Bank of Nigeria (CBN) has described as false, reports that it is selling foreign exchange (FX) to bureau de change (BDC) operators at the rate of N1,001/$1. The apex bank in a post on X on Thursday, said a…

“Since the naira redesign policy, I can now pay the person that helps with my shoe with transfers,” Kaliba Bilala, founder of Tanabit, a financial data analytics company, said while discussing the impact of the Central…

Wale Edun, Nigeria’s minister of finance and coordinating minister of the economy, on Thursday said the fiscal authority is complementing the efforts of the Central Bank towards ensuring the stability of the economy…

A foreign investor at TLG Capitals, Isaac Marshall, has attributed the naira gain to the decision of the Central Bank of Nigeria (CBN) to clear the FX backlog. Nigeria’s foreign exchange (FX) reserves have fallen to a…