Banks to Implement 0.5% Cybersecurity Levy on Electronic Transfers
In response to directives from the Central Bank of Nigeria (CBN), banks across the country will soon introduce a 0.5…
Month: May 2024
Seplat to deliver 13 new oil, gas wells in 2024
Seplat Energy Plc has revealed its drilling program for 2024, aiming to deliver 13 new oil and gas wells across…
UK-Nigeria Bilateral Trade Reaches £7 Billion
Richard Montgomery, the British High Commissioner to Nigeria, has disclosed that bilateral trade between Nigeria and the UK has surged…
Nestle Grows Sales By 43%, Earns N183.5bn In Q1
Nestle Nigeria Plc has recorded a significant 43.4 percent Year-on-Year increase in revenue for the first quarter ended March 31,…
Cash deposit in banks increase by 66%
Customers’ deposits in Nigeria’s leading deposit money banks witnessed a remarkable 66 percent Year-on-Year increase, soaring to N76.04 trillion by…
Cadbury Nigeria Reports 43% Revenue Increase in Q1’24
Cadbury Nigeria Plc has disclosed a notable revenue of N23.695 billion for the first quarter ended March 31, 2024 (Q1’24),…
SEC Plans to Delist Naira from P2P Crypto Trading to Curb Manipulation
Dr. Emomotimi Agama, the Acting Director General of the Securities and Exchange Commission (SEC), has announced the Commission’s intention to…
Meeting between Blockchain industry and SEC Director General rescheduled
A meeting planned between key players in the blockchain industry and the Director General of the Securities and Exchange Commission,…
Naira in circulation reaches N3.87 trillion
The amount of money in circulation in Nigeria has reached N3.87 trillion by the end of March, as per data…
Zenith Bank’s total assets increases to N24.28 trillion in Q4
Zenith Bank Plc has experienced a significant increase in its total assets, rising by 19.21% to N24.28 trillion in the…
FMBN adopts performance management system for workers
The Federal Mortgage Bank of Nigeria (FMBN) has introduced a performance management system to assess the performance of its employees,…
Equity market bounces back with weekly gain of N812 Billion
After experiencing a downturn of N3.54 trillion in April, the Nigerian equity market saw its first weekly gain, amounting to…
Transcorp plans share capital reduction
Transnational Corporation Plc has announced plans to reduce its number of shares through a share capital reconstruction, aiming to enhance…
DRC President praises Russia and China for transparent partnerships
Democratic Republic of Congo (DRC) President Felix Tshisekedi has lauded Russia and China for their transparent and straightforward partnerships with…
Paramount Global in talks with Sony, Apollo over acquisition
Paramount Global has initiated negotiations with Sony and Apollo Global Management for potential acquisition deals. This move follows significant setbacks…
Dependents from Nigeria to UK increased from 1,500 to 52,000 in 2 years — British High Commissioner
Richard Montgomery, the British High Commissioner to Nigeria in an interview with the News Agency of Nigeria (NAN) in Abuja,…
NDLEA smashes international drug syndicate, seizes suitcases of ‘loud’ in MMIA, Lagos
The National Drug Law Enforcement Agency (NDLEA) successfully dismantled an international drug syndicate operating in Nigeria, South Africa, and Thailand.…
Israel to shutdown Al Jazeera news network in country amid war with Gaza
Israel’s Prime Minister, Benjamin Netanyahu, announced that his Cabinet decided unanimously to close Al Jazeera’s operations in Israel. This decision…
Pension fund assets marginally decrease to N19.669 Trillion in March
Data from the National Pension Commission (PenCom) revealed that Nigeria’s pension fund assets dropped marginally to N19.669 trillion for the…
Cyberattacks: Ransomware payments globally surge by 500% in 2023—Report
A recent report from cybersecurity firm Sophos revealed a significant increase in ransom payments by companies globally affected by ransomware,…
Buffett retakes the stage as Berkshire prepares to pass the baton
As Berkshire Hathaway prepares for its annual meeting, all eyes are on Warren Buffett, but the absence of his longtime…
FCMB Group to pay N9.901 billion dividend to shareholders for FY 2023
FCMB Group Plc, a financial institution in Nigeria, announced that its shareholders will get a dividend of N9.901 billion for…
NGX Starts May Strong, Investors Gain N303 Billion
The Nigerian Exchange Limited (NGX) began May with a positive trend, as the All-Share Index rose by 0.55%, gaining 537.15…
Naira closes 1,402/$ at official market as dollar demand persists
In the initial trading session of May at the NAFEM window, the Naira experienced a small decline, settling at N1,402.67…
Elon Musk says X will strip ability to block accounts
Elon Musk, the owner of social media platform X, has advised users to unblock all accounts they’ve previously blocked, promising…
Lagos generated N300m from Land Use charge in four months – Commissioner
The Lagos State Government has announced that it earned N300 million in revenue from the Land Use Charge in the…
BUA Cement continues with its profit decline streak in Q1 2024
BUA Cement Plc released its financial results for Q1 2024, revealing a pre-tax profit decrease of 39.97% to N21.286 billion…
Wema bank seeks shareholders’ approval to raise N200bn capital
Wema Bank Plc, one of Nigeria’s oldest commercial banks, plans to seek shareholders’ approval to raise N200 billion in capital…
DSTV Tariff Hike: Court Orders Lawyer To Paste Restraining Order At MultiChoice Office
The Competition and Consumer Protection Tribunal in Abuja has directed MultiChoice Nigeria Limited to halt its planned increase in DSTV…
Nigerian Transnational Fraudster Captured, Convicted After Scamming 400 U.S. Citizens In Multimillion-Dollar Fraud Scheme
Amos Prince Okey Ezemma, a Nigerian national, admitted guilt in a transnational inheritance fraud scheme that preyed on elderly and…