Futures edge higher with payrolls revisions, Fed minutes on tap
U.S. stock index futures saw modest gains on Wednesday as investors awaited key economic updates,…
Month: August 2024
Walmart sells $3.74 billion JD.com stake to focus on its own China operations
Walmart has sold its entire stake in Chinese e-commerce giant JD.com, raising approximately $3.74 billion…
NNPC distributes fuel to PH, Warri Depots, addresses scarcity
The Nigerian National Petroleum Company (NNPC) has delivered petrol to depots in Port Harcourt and…
Aviation workers halt planned protest over revenue slash
Aviation workers have called off their planned protest against the Federal Government’s 50% revenue collection…
Domestic airlines ground 42 aircraft over forex shortage
In the past two years, 42 domestic aircraft in Nigeria have been grounded due to…
CBN posts highest remittance inflow of $553m in July
The Central Bank of Nigeria (CBN) announced a substantial increase in remittance inflows, reaching $553…
FRC vows to sanction erring auditors, accountants
The Financial Reporting Council (FRC) of Nigeria has vowed to take decisive action against auditors…
5 banks budget N222bn for cybersecurity
Five major Nigerian banks are raising capital to meet new Central Bank of Nigeria requirements.…
$3bn Badagry seaport seeks financial partners
The $2.59 billion Badagry Deep Seaport project is now in its second phase, focusing on…
Don’t Pressure Us To Sell Crude Oil To Local Refineries, Oil Producers Tell FG
The Independent Petroleum Producers Group (IPPG), responsible for 30% of Nigeria’s crude oil production, has…
Talks ongoing to resume Nigeria-S’Arabia cargo flights – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed that negotiations to resume…
Ibom Air expands fleet operations, takes delivery of second Airbus
Ibom Air has welcomed the arrival of its second Airbus A220-300, furthering its goal to…
NPA to implement electronic call-up system at Onne Port
The Nigerian Ports Authority (NPA) is preparing to implement an advanced electronic call-up system at…
Glo @ 21: Braving the odds to grow Nigeria’s economy
Globacom, the Nigerian telecommunications giant founded by Chief Mike Adenuga, is celebrating 21 years of…
Nigeria opens subscription for five-year domestic dollar bond at 9.75%
The Nigerian government is set to raise $500 million through a domestic dollar bond at…
Equites Opens Week With N750bn Dip
The Nigerian equities market experienced a significant loss of N750 billion due to sell pressures…
European stocks dip lower as market uncertainty lingers; Sweden’s Riksbank cuts rates
European stocks declined on Tuesday afternoon, with the Stoxx 600 index down 0.29% as market…
Nigeria-Germany trade volume hit $3bn in 2023 – Official
The Consulate-General of Germany in Lagos, Weert Borner, announced that trade between Nigeria and Germany…
FX turnover crashes by 21% in first two weeks of August amid CBN’s Retail Dutch Auction
The Nigerian official foreign exchange (FX) market saw a significant decline in turnover during the…
CBN unveils new exchange rates for pound, euro as naira settles at N1,579.22/$1
The Central Bank of Nigeria (CBN) announced revised foreign exchange rates, showing slight declines in…
Why govt is still subsidising electricity, by Adelabu
Minister of Power, Chief Adebayo Adelabu, revealed that the Nigerian government heavily subsidizes electricity, as…
NNPC Pledges 221,000bpd To Repay $5.5bn Loans
The Nigerian National Petroleum Company (NNPC) Limited has pledged 221,000 barrels per day (bpd) of…
FG to commence naira crude oil sales to Dangote refinery October 1
The Nigerian Federal Government will begin selling crude oil to the Dangote Refinery in naira…
Amidst fuel crisis, NNPC Retail cedes total control to OVH
The ownership of NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited…
NNPC battles deepening fuel scarcity, black market booms
The Nigerian National Petroleum Company Limited (NNPC) promised to resolve the ongoing petrol scarcity by…
MTN, others get permits to generate electricity
The Nigerian Electricity Regulatory Commission (NERC) has issued nine new off-grid generation licenses in the…
FG shifts N150bn loan disbursement for manufacturers to September
The Federal Government has delayed the start of a N150 billion loan disbursement for manufacturers…
NAHCO denies N778m fraud allegations
The Nigerian Aviation Handling Company (NAHCO) has strongly denied allegations of fraudulent activities related to…
N847bn lost as equity market extends downtrend
The Nigerian equity market continued its decline for the second week, shedding N847.03 billion as…
External reserves shed $343m in nine days, says CBN
Nigeria’s foreign exchange reserves fell by $342.97 million in just nine days, reducing the total…