Local CBN Predicts Growth in Shariah-Compliant Banks Jun 3, 2024 0 The Central Bank of Nigeria (CBN) announced that more shariah-compliant banks are expected to emerge due to the!-->…
Local Cryptocurrency Suffers $42.6 Million Loss to Hacks in May Jun 3, 2024 0 In May, the cryptocurrency industry faced significant losses totaling $42.6 million due to various hacking!-->…
Business Nigeria to monitor mining sites via satellite, curb illegal activities Jun 3, 2024 0 Dr. Dele Alake, Minister of Solid Minerals Development, announced that the Nigerian government will implement!-->…
World Iran-Africa Trade Reaches $1.2 Billion, with Iran Targeting Nigerian Market Jun 3, 2024 0 The Government of the Islamic Republic of Iran announced that its trade with African countries has reached $1.2!-->…
investment FG eyes $7bn FDI from oil sector – Wale Edun Jun 3, 2024 0 Wale Edun, Nigeria's Minister of Finance and Coordinating Minister of the Economy, announced the securing of $7!-->…
Business Aviation Workers’ Strike Causes Flight Delays and Cancellations Jun 3, 2024 0 On Monday, flights from Lagos airport terminals and other airports nationwide experienced significant delays and!-->…
Business CBN Revokes Licence Of Heritage Bank Jun 3, 2024 0 The Central Bank of Nigeria (CBN) has revoked the license of Heritage Bank Plc with immediate effect, citing a!-->…
Local Nigeria eyes fresh 480,000bpd as NNPC, ExxonMobil sign new deal May 31, 2024 0 Good news for Nigeria's oil production! The Nigerian National Petroleum Company (NNPCL) and ExxonMobil have!-->…
Business UPDC Declares 177% Income Growth May 31, 2024 0 UPDC, a leading Nigerian real estate company owned by UAC, is experiencing a major turnaround. The company!-->…
Local Stakeholders Applaud Smooth Start Of Hajj Flights May 31, 2024 0 This year's airlift of Nigerian pilgrims to Saudi Arabia for Hajj is off to a great start! Pilgrims and!-->…
Business Lagos Innovation Bill Proposes Tax Holiday, Waiver For Start-Ups May 31, 2024 0 Lagos is set to become a hub for innovation, according to a new policy proposal. The Lagos Innovation Bill aims to!-->…
Finance Presidential tax committee recommends N800/$ Customs duty rate May 31, 2024 0 Nigerian businesses are likely to welcome a new proposal that could make planning and budgeting easier. The!-->…
Business FG secures World Bank’s $500 million loan for electricity sector May 31, 2024 0 Nigeria's power sector is set for a shot in the arm with a $500 million loan from the World Bank. This funding!-->…
Business Credit to government rises 2% to N19.98trn May 31, 2024 0 Nigeria's government borrowing increased slightly in April, to N19.98 trillion, despite analysts' predictions of a!-->…
Business Customs pushes for a single document, PCS for cargo clearance May 31, 2024 0 Nigerian Customs Aims to Simplify Trade with Single Clearance Document Nigerian Customs is working towards a!-->!-->!-->…
Currency Naira falls further as dollar sales drop by 30.05% May 31, 2024 0 The Nigerian Naira continued its decline against the US Dollar on Thursday, losing over 10% of its value at the!-->…
Business Nigerian drugmakers see 58% revenue rise as prices soar May 31, 2024 0 Nigerian pharmaceutical companies are experiencing a surge in revenue, with a combined increase of 58% in the!-->…
Business Chinese companies rush to hike dividends, buy back shares in Japan-style reform May 30, 2024 0 Chinese companies are responding to government calls to improve investor returns by offering record dividends and!-->…
Stock Saudi Arabia Considers Selling More Aramco Shares May 30, 2024 0 Saudi Arabia is preparing to announce a potential secondary share offering for Aramco, its state-owned oil giant.!-->…
Commodities Oil prices steady as solid U.S. crude demand offsets rate concerns May 30, 2024 0 Oil prices remained relatively unchanged today as conflicting factors influenced the market. Upward pressure came!-->…
Energy Germany to Scrap Gas Storage Fee for Neighboring Countries May 30, 2024 0 Germany is removing a fee it charged neighboring countries for accessing its natural gas reserves. This levy,!-->…
Energy EU agrees to quit energy investment treaty over climate concerns May 30, 2024 0 The European Union (EU) has unanimously decided to withdraw from the Energy Charter Treaty (ECT), a move driven by!-->…
Trade Asia’s Oil Imports Surge in May, Driven by India May 30, 2024 0 Asia's crude oil imports reached a 12-month high in May, fueled by a massive increase in demand from India. The!-->…
Business U.S. Announces $176 Million in Additional Aid for West Africa May 30, 2024 0 The United States Agency for International Development (USAID) announced nearly $176 million in additional!-->…
Business Elon Musk reclaims title of world’s richest person with $209bn net worth May 30, 2024 0 Elon Musk reclaimed the title of the world's richest person thanks to his new AI startup, xAI. The company's $6!-->…
Business Shell, others pay NDDC $142m in one year May 30, 2024 0 Shell Petroleum Development of Nigeria (SPDC) and Shell Nigeria Exploration and Production Company (SNEPCo)!-->…
Business Airspace management agency seeks reversal of 50% revenue deduction May 30, 2024 0 The Nigerian Airspace Management Agency (NAMA) is facing financial difficulties due to a 50% reduction in their!-->…
Business Dash for debt sees 64% surge in naira loan apps May 30, 2024 0 The number of digital lenders in Nigeria has skyrocketed by 64% in the past year. This surge reflects Nigerians'!-->…
Business Aigboje Aig-Imoukhuede Wins African Banker Lifetime Achievement Award May 30, 2024 0 Nigerian banking leader Aigboje Aig-Imoukhuede has been awarded the prestigious African Banker Lifetime!-->…
Business Court gives GTB nod to seize Afex over N17.8b Anchor Borrowers’ Loan May 30, 2024 0 Guaranty Trust Bank (GTBank) has secured a court order to freeze the assets of Afex Commodities Exchange Limited!-->…