Author: ayotilewa

President Bola Tinubu has mandated the Nigerian National Petroleum Company (NNPC) to sell crude oil…

Banking Local

UBA emerges most visited Nigerian banking website

United Bank for Africa (UBA) has been named the most visited banking website in Nigeria,…

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…

AfDB okays $500m fresh loan for Nigeria

The African Development Bank Group has approved a $500 million loan to the Federal Government…

Nigerian shipowner names ICS board director

Business Commodities Local

The International Chamber of Shipping (ICS) has appointed Mr. Aminu Umar, President of the Nigerian…

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…

Protests: Max Air temporarily suspends operations

Max Air has temporarily suspended its operations on August 2, 2024, due to nationwide protests.…

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…

Access Bank revamps digital loan platform, disburses N740bn in seven years

Business investment Local

Access Bank has updated its digital loan platform, QuickBucks, to enhance lending services for Nigerian…

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…

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…

Flour Mills declares N763bn revenue

Flour Mills of Nigeria Plc reported a 67% increase in revenue, reaching N763.2bn for the…

Cornerstone Insurance upbeat on recapitalisation

Cornerstone Insurance Plc is ready for any recapitalisation measures from the National Insurance Commission. This…

Business Energy

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…

Banking Business Local

Banks, others shut as hunger protest holds

Banks and financial institutions in Nigeria will be closed on Thursday, August 1, 2024, due…

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…

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…

Banking Local

Banks’ Recapitalisation: Foreign investors moving in — Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced an increase…

Local Stock

Stock investors lose N32bn amid selloffs

The Nigerian stock market saw another decline on Wednesday, with investors losing N32 billion. The…

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…

Currency Local

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…

Fitch revises Benue outlooks to positive

Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) outlook from Stable to…

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…

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…

Banking Business

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…

African Airlines Record 11.8% Growth In Cargo

The International Air Transport Association (IATA) reported strong growth in global air cargo demand for…

Business Energy Local

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…

Local

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…

Business

HSBC records $21.6 billion pre-tax profit in first half 2024