Ajaokuta Steel Company Faces Disconnect Over N33bn Electricity Debt, FG Begins Investigation
The Federal Government has announced an investigation into the non-functioning Ajaokuta Steel Company Limited, which accumulated a staggering N33bn in…
Day: January 12, 2024
FG Adopts N800 to Dollar Exchange Rate in 2024 Budget
With the aim of ensuring stability in the 2024 Appropriation Act, the Federal Government disclosed on Thursday that it settled…
ILO Warns of Global Job Losses in 2024, Projects 5.2% Unemployment Rate
The International Labour Organisation (ILO) has issued a projection, stating that approximately two million workers could lose their jobs in…
Multinationals May Exit Nigeria in 2024 Amid Economic Environment- Report
A recent report by financial solutions firm Cardinal Stone suggests that multinational firms in the Fast Moving Consumer Goods (FMCG)…
Wema Bank Reports Over 130% Growth in Profit
Wema Bank has showcased remarkable financial performance in the third quarter of 2023, as its Profit Before Tax surged by…
Emerging Africa Capital Redeems Series 3 Commercial Paper Worth N1.6Bn
Emerging Africa Capital Limited, an Investment Banking and Financial Services company, announced the successful redemption of its Series 3 commercial…
Nigerian Stock Market Bounces Back, Gains N313bn
The Nigerian Exchange Limited closed on a positive note on Thursday, with investors gaining approximately N313bn. The All-Share Index rebounded…
International Breweries Plc Board Considers Rights Issue and Share Capital Increase
International Breweries Plc’s Board of Directors is set to deliberate on a Rights Issue and an increase in its share…
cNGN Faces Challenges as CBN Plans Transition from eNaira
As the Central Bank of Nigeria (CBN) prepares to introduce cNGN, its stablecoin, through commercial banks and fintech companies, challenges…