FG deficit rose to N824bn in April – CBN
Nigeria’s fiscal deficit increased marginally by 0.1% to N824.79 billion in April 2024, up from N823.91 billion in March, according…
Year: 2024
Crypto trader turns $1000 into $400,000 trading Tron’s memecoin Sunwukong
The crypto community is abuzz after an anonymous trader, identified as TDm2, transformed a $1,000 investment into a staggering $400,000…
TikTok announces industry-first sub-Saharan Africa Safety Advisory Council
TikTok is strengthening its safety initiatives in Sub-Saharan Africa by launching its first Safety Advisory Council and expanding the #SaferTogether…
FAAN, NAQS forge partnership to boost air agro export
The Federal Airports Authority of Nigeria (FAAN) has teamed up with the Nigerian Agricultural Quarantine Services (NAQS) to improve the…
… Says President, Wale Tinubu not involved in OVH acquisition
NNPC Ltd has refuted allegations that President Bola Tinubu or his relative, Wale Tinubu, were involved in the acquisition of…
Oando finalises $783m acquisition of NAOC
Oando PLC has completed its $783 million acquisition of Nigerian Agip Oil Company (NAOC), Eni’s Nigerian subsidiary, marking a significant…
Kolomoni MFB appoints MD
Kolomoni Microfinance Bank has announced the appointment of Yusuf Adeojo as its new Managing Director. The board expressed confidence in…
Shares gain, dollar subdued as Fed readies rate cuts
European stocks saw a slight rise on Thursday, with the STOXX 600 index gaining 0.3%, supported by retail stocks. This…
Euro zone business activity gets boost from Olympics, PMI shows
Euro zone business activity showed unexpected strength in August, with the composite PMI rising to 51.2 from July’s 50.2, beating…
Germany plans majority stake in cruise ship builder, sources say
The German government, along with the state of Lower Saxony, plans to take a temporary majority stake in Meyer Werft,…
NBA Urges Full Support for Dangote Refinery to End Fuel Scarcity in Nigeria
The Nigerian Bar Association (NBA) has called for the full implementation of President Bola Ahmed Tinubu’s directive to supply crude…
U.S. to Partner with Nigeria on Chemical Weapons Convention for ECOWAS
The U.S. government has announced plans to collaborate closely with Nigeria to lead discussions on implementing the Chemical Weapons Convention…
FRC to tackle audit failures with new initiative
The Financial Reporting Council of Nigeria (FRC) has reinforced its commitment to enhancing audit oversight and eliminating audit failures in…
NCC orders telcos to block SIM cards 5 minutes after they are reported stolen
The Nigerian Communications Commission (NCC) has issued a directive requiring all telecommunications companies to block stolen SIM cards within five…
Crude sales in naira’ll exacerbate FX crisis, oil producers warn
The Independent Petroleum Producers Group (IPPG) has cautioned the Nigerian government about the potential economic risks of its recent decision…
Elon Musk Set To Build Starlink Ground Stations Across Nigeria
Elon Musk’s internet company, Starlink, is making significant progress in Nigeria by establishing ground stations across the country to enhance…
SUNU Assurances pays out N2.08bn in Claims
SUNU Assurances Nigeria Plc has paid out N2.08 billion in claims to its customers during the 2023 financial year, marking…
Oil blocks: FG threatens to revoke licenses of firms lacking exploration capacity
The Federal Government of Nigeria has issued a stern warning to companies and individuals holding oil block licenses who have…
United Capital’s Share Price Soars 31% in August, Becoming Third Best-Performing Stock of 2024
United Capital’s share price rose by 31% in August 2024, reaching N17, making it the third best-performing stock this year,…
Naira sends mixed signals as Dollar shows some strength
On Thursday, the naira showed mixed performance against the dollar in Nigerian FX markets. It improved slightly to N1,543/$1 from…
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, including revised U.S. payroll data…
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 to focus on expanding its…
NNPC distributes fuel to PH, Warri Depots, addresses scarcity
The Nigerian National Petroleum Company (NNPC) has delivered petrol to depots in Port Harcourt and Warri in an effort to…
Aviation workers halt planned protest over revenue slash
Aviation workers have called off their planned protest against the Federal Government’s 50% revenue collection from aviation agencies, which was…
Domestic airlines ground 42 aircraft over forex shortage
In the past two years, 42 domestic aircraft in Nigeria have been grounded due to a severe shortage of foreign…
CBN posts highest remittance inflow of $553m in July
The Central Bank of Nigeria (CBN) announced a substantial increase in remittance inflows, reaching $553 million in July 2024, marking…
FRC vows to sanction erring auditors, accountants
The Financial Reporting Council (FRC) of Nigeria has vowed to take decisive action against auditors and accountants who fail to…
5 banks budget N222bn for cybersecurity
Five major Nigerian banks are raising capital to meet new Central Bank of Nigeria requirements. They plan to invest $1.20…
$3bn Badagry seaport seeks financial partners
The $2.59 billion Badagry Deep Seaport project is now in its second phase, focusing on implementation and finding strategic financial…
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 cautioned against being compelled to…