The French-backed West African CFA franc currency will be reformed and renamed the “eco,” in what…
Category: Business
Afrexim Bank pledges to support Southeast development
The pan-African multilateral trade finance institution, African Export-Import Bank (Afreximbank) has said it would support the implementation…
Border closure: Fuel consumption has dropped by 70% in Adamawa, says DPR
Ibrahim Ciroma, Adamawa state operations controller of the Department of Petroleum Resources (DPR), says the number…
Allocation to FG, states, LGs drops by N66bn
The Federation Account Allocation Committee on Wednesday allocated the sum of N635.82bn to the three tiers…
Recapitalisation: SEC urges insurers to exploit opportunities in capital market
With six months left for the insurance sector 2020 recapitalisation deadline, the Securities and Exchange Commission (SEC)…
Hyundai Manufacturing Plant Proposal: What Happened To Innoson Motors?
Nigeria custom service(NCS) closed Nigeria borders for goods not to enter the country hoping we can…
Fiat Chrysler, Peugeot finalise merger deal
Fiat Chrysler and Peugeot maker have reached a binding agreement of roughly $50 billion merger that will reshape…
Turkish Airlines Fixes Tomorrow as Deadline to Return Passengers’ Baggage
Following the threat to suspend its operations to Nigeria by the Nigerian Civil Aviation Authority (NCAA),…
Workers’ Strike Cuts Power Supply to 2,828MW
As businesses and individuals count the cost of last week’s strike by electricity workers, records obtained…
Dangote Petroleum Refinery to save Nigeria in excess of $11b
Minister of Finance, Budget & National Planning, Zainab Ahmed said Dangote Petroleum Refinery will stablise the…
Turkish Airlines’ pledge to NCAA
Turkish Airline has pledged to commence immediately freight of all leftover passengers’ baggage in Turkey to…
Bankers to renovate National Theatre with N20b – Emefiele
The Governor of the Central Bank of Nigeria (CBN), Dr Godwin Emefiele said on Saturday that…
Our Financial Status Healthy, Claims Stallion Group
The Group Chief Executive Officer of Stallion Motors, Mr. Anant Badjatya has said that the group’s…
FG to audit spectrum licences issued in last two decades
The Federal Government is planning to carry out frequency audit on all the spectrum licences issued…
CBN: Banks Refund N76.7bn, $20.9m to Customers over Transaction Issues
The Central Bank of Nigeria (CBN) has put banks’ refunds to customers as of November 30,…
Nigeria needs $22.7bn loan to fix infrastructure – FG
In order to bridge the infrastructural deficit in the country, the Federal Government has declared that…
Breaking: 2 Global Banks Dump Nigeria
The Central Bank of Nigeria (CBN) has revealed that two global banks – HSBC and UBS…
Lagosians To Obtain Licence To Drill Borehole From 2020
Lagos State government has said by the first quarter of next year, it would begin to…
6 Million Nigerians join rice producers, says FG
Over three months after the closure of the nation’s borders, about six million Nigerians, including youths,…
NNPC subsidiary, IDSL’s revenues hit N32.133bn in 3 years
The revenues of Integrated Data Services Limited (IDSL), a subsidiary of the Nigerian National Petroleum Corporation…
Nigeria Earned $54.5bn From Crude Oil, Spent $54.6bn To Import Petroleum Products In 2018
Nigeria’s value of petroleum products imports was more than its exports in 2018, according to data…
An Umpire and Drive for Ports Efficiency
The nation’s shipping industry is one of conflict of interests. There is the interest of government,…
South Africa’s Rand Flat Aahead Of GDP Figures
South Africa’s rand was flat in early trade on Monday ahead of third quarter growth data…
Reform now to stop further slide into extreme poverty – World Bank to FG
The World Bank has said the number of Nigerians living in extreme poverty may increase by…
Dangote receives largest single-train crude refining equipment
The Dangote Oil Refinery Company, yesterday, took delivery of what it described as the world’s largest…
Banks’ capital adequacy ratio hits 15.5% – Emefiele
The Capital Adequacy Ratio(CAR)of the nation’s banks increased from 10.2 percent in December 2017 to 15.5…
Banks earned N180m to deposit N546b with CBN
The nation’s Deposit Money Banks (DMBs) opted to deposit a whopping N545.71 billion in the tills…
USSD: Telcos threaten to disconnect banks
Telecommunications operators in the country said they may be forced to disconnect the links that allow…
Nigeria Owes N25.7 Trillion – DMO
The Debt Management Office (DMO) says that Nigerian’s total debt profile is N25.7 trillion. The Director-General…
Higher Revenue, Reduced Fuel Usage, Rice Production Are Gains Of Border Closure
The Federal Government has listed higher import revenue, lower domestic fuel consumption and increased rice production…
12 govs apply for $750m World Bank’s sustainability grant
Twelve state governors have forwarded their concurrence in respect of Draft Subsidiary Grant Agreement (SGA) to…
Capital inflow drops 7.78% Q3, 2019 – NBS
The total investment flow into Nigeria’s economy stood at $5.3 billion ($5,367.56 million) in third quarter…
CBN sells $11.49bn to BDCs in 10 months
The Central Bank of Nigeria (CBN) sold a total of $11.49 billion to the Bureaux De…
Zamfara: DPR cautions filling stations against supplying petrol to bandits
The Department of Petroleum Resources (DPR) has warned filling stations in Zamfara against supplying petroleum products to bandits. The Controller, Gusau DPR…
Nigerian selected among 10 startsup by Dubai Chamber of Commerce
A Nigerian, Mr Kenneth Obiajulu-Okonkwo, and five other Africans have been selected among 10 startups by…
SEC Chairman seeks exploration of non-oil sector
The Chairman of the board of the Securities and Exchange Commission (SEC), Mr Olufemi Lijadu, has stressed the…
Insure crops, farmlands in case of erosion, fire – extension agent advises
Farmers in Anambra have been advised to insure their crops and farmlands to avoid losses in case of…
Kwara Will Change Narrative on Ease of Doing Business
Piqued by the ranking of the Kwara State in the North central zone of the country…
Opay Gets Central Bank’s Approval For International Money Transfer Services
Akelicious reports that OPay, a provider of payment, a ride-hailing company, food delivery and loan services…
Court stops NAFDAC from releasing suspected dangerous chemical
A Federal High Court sitting in Lagos on Monday restrained the National Agency for Food and…
Jaiz Bank declares N1.25bn profit after tax
Jaiz Bank Plc, Nigeria’s premier non-interest (Islamic) bank has once again shown its capability of rounding…
NSE crucial market indicators end Friday with 0.03% growth
The Nigerian Stock Exchange (NSE) crucial market indicators closed trading on Friday with a marginal growth…
Dangote Group begins installation of Rice factory in Kebbi
Gov. Atiku Bagudu of Kebbi on Sunday commended Dangote Group for setting up a rice mill in the state, saying…
Oando 100k Shares In 2004 Dwindles To 11k In 2019
A Twitter user Onye Nkuzi laments over a 100k shares in Oando bought in 2004 that…
Nestle Nigeria Plc announces financial results for Q3 2019
Nestlé Nigeria Plc has announced its financial results for nine months period ending Sept. 30, 2019.…
Air Peace acquires new aircraft to boost operations
Nigerian airline, Air Peace has acquired a B737- 800NG to boost its domestic and regional operations…
Zenith Bank, Best Digital Bank, Says Agusto & Co
Zenith Bank Plc has emerged as the best digital bank in Nigeria in the 2019 Consumer…
FG Orders NCC To Reduce Costs Of Data In Nigeria
Price of mobile data services must go down, Minister of Communications and Digital Economy, Dr Isa…
Insurers to raise N50 billion fresh capital for recapitalisation
Out of the 58 insurance companies in the nation’s economy, seven have reached to their investors…
AfDB Approves Capital Boost $208bn
The African Development Bank’s (AfDB) board recently approved a 125 per cent capital increase to $208…
Countries Must Adhere to Rule-based Trade under AfCTA – Zainab Ahmed
The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, yesterday urged African countries, particularly…
FG to support Dangote Refinery with crude oil feedstocks
The Federal Government says it will support the 650,000 barrels per day capacity Dangote Refinery and…
Glo records 2m new customers, regains 2nd position
National telecommunications operator, Globacom, has emerged the preferred network for 2 million new subscribers in Nigeria…
Dangote Refinery starts production early 2021
Nigeria’s Dangote refinery, which is being built privately by Africa’s richest man, will be ready for…
Samsung profits in Q3 slump over 50%
Samsung Electronics, the world’s largest smartphone and memory chip maker, saw net profits slump by more…
Arik Air not suitable for national carrier –FG
The Federal Government on Wednesday, dismissed calls for Arik Air to be converted into a national carrier…
Lekki Phase 1 To Get A World-class Boost With The Addition Of Admiralty Mail
The retail and shopping space in Lekki phase 1 is set to get a boost with…
NEITI: Nigeria Earned N52.8bn from Solid Minerals in 2017
The Nigeria Extractive Industries Transparency Initiative (NEITI) yesterday said that Nigeria’s solid minerals sector contributed the…
Access Bank’s profit rises by 44.23% in Q3
Access Bank Plc has recorded growth at the end of its third quarter financial result as…
University pension nets N12.5b in two years
The Nigerian University Pension Management Company Limited (NUPEMCO) has a net contribution of N12.5 billion from university…