Dangote refinery to gulp N1.7tn crude monthly – Report
President Bola Tinubu has mandated the Nigerian National Petroleum Company (NNPC) to sell crude oil to the Dangote Petroleum Refinery…
Year: 2024
UBA emerges most visited Nigerian banking website
United Bank for Africa (UBA) has been named the most visited banking website in Nigeria, with 2.36 million visits in…
FG non-oil savings rise by N4tn – NBS
The Federal Government’s savings in its non-oil excess account increased by 304.1% in the first year of President Bola Tinubu’s…
AfDB okays $500m fresh loan for Nigeria
The African Development Bank Group has approved a $500 million loan to the Federal Government of Nigeria to finance the…
Nigerian shipowner names ICS board director
The International Chamber of Shipping (ICS) has appointed Mr. Aminu Umar, President of the Nigerian Chamber of Shipping, as its…
FCCPC accuses Coca Cola Nigeria of misleading trade description, unfair marketing tactics
The Federal Competition and Consumer Protection Commission (FCCPC) has accused Coca-Cola Nigeria Ltd and the Nigerian Bottling Company (NBC) of…
Protests: Max Air temporarily suspends operations
Max Air has temporarily suspended its operations on August 2, 2024, due to nationwide protests. In a statement, the airline…
Karu LG enforces 6 p.m. to 6 a.m. curfew amid protests
In response to escalating violence during the nationwide protests, the Karu Local Government Council in Nasarawa State has imposed a…
Access Bank revamps digital loan platform, disburses N740bn in seven years
Access Bank has updated its digital loan platform, QuickBucks, to enhance lending services for Nigerian consumers. The revamped platform now…
Nigeria’s foreign investments rising on proposed bank recapitalisation -Cardoso
Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), attributes the recent rise in foreign investments to the ongoing…
FG to spend $7.2bn on two deep seaport projects
The Federal Government is planning to spend $7.2 billion to complete two deep seaports in Ibom and Badagry. The first…
Flour Mills declares N763bn revenue
Flour Mills of Nigeria Plc reported a 67% increase in revenue, reaching N763.2bn for the first quarter ending June 30,…
Cornerstone Insurance upbeat on recapitalisation
Cornerstone Insurance Plc is ready for any recapitalisation measures from the National Insurance Commission. This was stated by the Managing…
Monthly power subsidy soars by 151% to N211bn
The Federal Government’s electricity subsidy rose from N252.76bn to N633.30bn in the first quarter of 2024, according to the Nigerian…
Banks, others shut as hunger protest holds
Banks and financial institutions in Nigeria will be closed on Thursday, August 1, 2024, due to a planned hunger strike…
Controversy Surrounds Omolola Oloworaran’s Appointment as Acting PenCom DG
The National Pension Commission (PenCom) has announced Omolola Oloworaran as the new Acting Director-General, pending Senate confirmation. Her appointment aligns…
Minister orders probe into $300 passport fee allegations at Nigerian Embassy in London
Minister of Interior, Olubunmi Tunji-Ojo, announced an investigation into complaints from Nigerians in London about an additional $300 fee for…
Banks’ Recapitalisation: Foreign investors moving in — Cardoso
The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced an increase in foreign investment into Nigerian…
Stock investors lose N32bn amid selloffs
The Nigerian stock market saw another decline on Wednesday, with investors losing N32 billion. The market value fell to N55.513…
African Central Bank Governors to Meet in Abuja, to Discuss Trade and Financial Reform
African Central Bank Governors are gathering in Abuja from August 1-3 to focus on increasing intra-African trade and addressing global…
Naira Depreciates Further, Exceeds N1,600 to a Dollar
The naira has fallen to over N1,600 per US dollar at the official rate, with the dollar closing at N1,608.73…
Fitch revises Benue outlooks to positive
Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) outlook from Stable to Positive, while affirming the IDR…
Aminu Umar appointed 1st African director on the board of International Chamber of Shipping
Aminu Umar, President of the Nigerian Chamber of Shipping, has been appointed as the first African director on the board…
Otedola announces support for windfall tax, urges banks to curb private jet expenses
Femi Otedola, Chairman of FBN Holdings, has announced his support for the windfall tax. He highlighted its role in ensuring…
FCMB Group Plans N110 Billion Capital Raise with New Share Offer
FCMB Group announced plans to raise N110 billion by issuing new ordinary shares at N7.30 each on the Nigerian Exchange…
African Airlines Record 11.8% Growth In Cargo
The International Air Transport Association (IATA) reported strong growth in global air cargo demand for June 2024. African airlines led…
Seplat Posts N244bn Half Year Pre-Tax Profit
Seplat Energy Plc announced a staggering 461% increase in pre-tax profit for the half-year ending June 30, 2024, reaching N244…
Tinubu approves N50,000 monthly stipend for Niger-Delta youths
President Bola Tinubu has approved a N50,000 monthly stipend for 10,000 youths in the Niger Delta to ease economic hardships.…
HSBC records $21.6 billion pre-tax profit in first half 2024
HSBC announced pre-tax profits of $21.6 billion for the first half of 2024, slightly down from last year’s record. Despite…
UK’s gain, Nigeria’s pain as nurses migration hits 9-years high
Nigerian-trained nurses are increasingly passing their professional exams in Nigeria but submitting their results abroad, particularly in the UK. A…