Merck cuts annual profit forecast
Merck & Co has revised its full-year earnings forecast downward to $7.94 to $8.04 per share, from the previous range…
Author: ayotilewa
Zenith Bank Finalises Plans For N290bn Rights Issue, Public Offer
Zenith Bank Plc is set to raise a substantial N290 billion through a combined Rights Issue and Public Offer. This…
Why CBN Wants To Take Over Dormant Account Balances From Banks
The Central Bank of Nigeria (CBN) has introduced new guidelines to manage dormant accounts and unclaimed funds in the country’s…
Customs declares N2.74trn H1 revenue, surpasses target by 8%
The Nigeria Customs Service (NCS) collected N2.74 trillion in the first half of 2024, surpassing its target of N2.54 trillion.…
NAMA Halts Increase in Airline Fees to Ease Economic Strain
The Nigerian Airspace Management Agency (NAMA) has stopped its plan to raise navigational charges for airlines. This decision came after…
Nigeria’s spending on jet fuel importation falls 87% to N31bn
Nigeria’s spending on jet fuel fell sharply by 87% in the first quarter of 2024, dropping to N31 billion from…
SEC approves extension of Fidelity Bank offer by 14 days
The Securities and Exchange Commission (SEC) has allowed Fidelity Bank to extend its Public Offer and Rights Issue by 14…
Nigerians risk layoff as top UK aid supplier faces collapse
Crown Agents, a long-established UK development contractor, is facing collapse due to severe financial issues. Staff pay for July has…
Naira crude sale ends 20-year-old opaque supply market
The Nigerian government will start selling crude oil in naira to local refineries like Dangote’s, ending a 20-year-old scheme and…
Nestle’s woes continue as pre-tax loss hit N252.5 billion in 2024 half-year
Nestle Nigeria reported a net loss of N176.9 billion for the first half of 2024, a sharp increase from the…
NAMA Suspends Planned 800% Hike In Navigation Charges For Airlines
The Nigerian Airspace Management Agency (NAMA) has suspended its planned 800% increase in aircraft navigational charges, which was set to…
Power sector strained as Togo, Benin, others owe Nigeria $14.19m for electricity exported in Q1
The Nigerian Electricity Regulatory Commission (NERC) reported that none of the four international bilateral electric power customers made payments towards…
Competition toughens as 9Mobile gets new owner
9Mobile has faced significant challenges since Etisalat Abu Dhabi exited the Nigerian market in 2017 over a $1.2 billion loan…
Netflix, Google, Microsoft increase naira prices on inflation
Due to escalating inflation and the devaluation of the naira, major technology firms like Netflix, Google, DSTV, GOtv, and Microsoft…
Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry
Nigeria’s $210 million automotive industry lags behind peers such as Morocco, South Africa, and Egypt due to low demand for…
Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees
The National Industrial Court in Lagos has mandated Ecobank Nigeria Limited to pay N1,086,611,589.11 to 1,742 former employees of the…
Fuel Rises To N1,300/Litre As Depots Run Dry
Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun, Abuja, and…
Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation for…
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will decrease to below…
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87 million…
Stock Market Down N1.3tn WoW as Investors Migrate to Fixed Income Market
Following the Central Bank of Nigeria’s (CBN) increase in the Monetary Policy Rate (MPR) to 26.75%, the Nigerian stock market…
It’s game, set and match — ALIKO DANGOTE
Dr. Reuben Abati has called for President Tinubu to intervene in the conflict between the Nigerian Midstream and Downstream Petroleum…
Dangote Refinery: Midstream, Downstream Regulatory Authority Giving Tinubu Bad Name — Abati
Aliko Dangote, Africa’s richest man, is widely recognized and respected across the continent. Over the past three decades, he has…
Naira Depreciates To N1,610/$ In Parallel Market
The Nigerian Naira experienced a significant depreciation on Friday, dropping to N1,610 per dollar in the parallel market, down from…
Barry Diller says Paramount pursuit ‘might be over’ for IAC, CNBC reports
Billionaire Barry Diller announced that his digital-media company, IAC, is no longer pursuing the acquisition of Paramount Global. In an…
Nasdaq futures jump as megacaps recover; inflation data in focus
Nasdaq futures jumped 1% on Friday, driven by a rebound in megacap tech and chip stocks. Major tech companies like…
Dangote/NNPC Rift: Nigeria’s Petrol Import From Malta Jumps 43 Times To $2.08bn
Nigeria’s importation of petroleum from Malta soared to $2.08 billion in 2023, a 43-fold increase. According to a report by…
FCMB Lifts Female Entrepreneurs With Zero-Interest Loans
The First City Monument Bank (FCMB) is addressing gender inequality in Nigeria’s business sector with its SheVentures programme, offering interest-free…
Expert faults NBS for omitting Marine, Blue economy data
Dr. Muda Yusuf, CEO of the Centre for the Promotion of Public Enterprise, criticized the National Bureau of Statistics (NBS)…
ICAN charges inductees to uphold principles of accounting
The Institute of Chartered Accountants of Nigeria (ICAN) has advised newly inducted Accounting Technicians to adhere to the five fundamental…