Tariff increase to worsen economic instability — private sector
The Organised Private Sector (OPSN), composed of prominent Business Membership Organisations (BMOs), has raised alarm over the recent surge in…
Author: ayotilewa
Data shows CBN not defending naira with FX reserves
Recent data from FMDQ Securities Exchange reveals that the Central Bank of Nigeria (CBN) has conducted rare interventions in the…
Devaluation woes sweep 1,600 Nigerians off dollar millionaire list
A recent report by Henley and Partners, a London investment migration consultancy, has revealed a significant decrease in the number…
Shippers council implements e-registration to boost port security
The Nigerian Shippers Council (NSC) has announced the introduction of e-registration for regulated port service providers and users, aiming to…
IMF: South Africa needs decisive efforts to cut spending
A senior official from the International Monetary Fund (IMF) has highlighted the urgent need for South Africa to take decisive…
Social media platform X blocked in Pakistan- Minister
Pakistan’s interior ministry recently revealed that it blocked access to a social media platform, referred to as X, around the…
Tesla again seeks shareholder approval for Musk’s 2018 pay voided by judge
Tesla (TSLA.O) has requested its shareholders to once again approve CEO Elon Musk’s record-breaking $56 billion pay package, which was…
Global financial firms lag in monitoring personal messaging apps, survey Shows
A survey released on Wednesday revealed that global financial companies are falling behind in monitoring and archiving all business-related communications…
United Airlines jumps after results beat ‘dramatically low’ expectations
United Airlines (UAL.O) saw a premarket surge of about 5.3% on Wednesday following an optimistic profit forecast for the second…
Air Peace now connects passenger from Abuja, Asaba, Enugu others to London
Air Peace has expanded its Lagos-London route to include passengers from Abuja, Asaba, Benin, Enugu, Owerri, Warri, and Port Harcourt.…
CAP records 2.5bn profit- Report
Chemical and Allied Products (CAP) Plc, a Nigerian paint and coating company, has announced its highest profit in over 13…
Banks witness 260.9% increase in impaired loans
According to data analyzed by BusinessDay, seven listed Nigerian banks, including Zenith Bank Plc, United Bank for Africa (UBA) Plc,…
Bread prices rise as currency woes and war squeeze bakeries
The Premium Beadmakers Association of Nigeria (PBAN) has identified the volatile exchange rate and Nigeria’s reliance on imported ingredients as…
We now buy dollars at N980, sell at N1020 – BDCs president
Aminu Gwadabe, the president of the Association of Bureaux De Change Operators of Nigeria, revealed that BDC operators are now…
IMF raises Nigeria’s economic growth forecast to 3.3% for 2024
The International Monetary Fund (IMF) has revised Nigeria’s economic growth forecast for 2024 upward from three percent to 3.3 percent.…
FG may revoke unused oil well licences amid $30bn loss
Concerned about the country’s declining oil revenue, the Federal Government has announced intentions to take over all idle oil wells…
Minister suspends mining activities at OAU and environs
Dr. Dele Alake, the Minister of Solid Minerals Development, has ordered an indefinite suspension of mining operations at Obafemi Awolowo…
NCCA suspends private jets’ commercial operations
The Nigerian Civil Aviation Authority (NCAA) has suspended the permits for non-commercial flight licenses of three private jets for engaging…
FG Clarifies Recent Electricity Tariff Hike
The Nigerian government has explained that the recent increase in electricity tariffs mainly affects a small, affluent portion of the…
$461m investment gap slows Nigeria’s internet coverage
As of January, Nigeria’s broadband penetration dropped to 42.53%, with 92.19 million subscriptions in a country of over 200 million…
UBA expresses confidence in meeting new N500bn capital base
United Bank for Africa Plc (UBA) has affirmed its confidence in meeting the new capital base set by the Central…
Royal Exchange Rights Issue Falls Short at 75.83% Subscription
Royal Exchange Plc, a company offering life assurance, health insurance, and credit financing services, saw its recent rights issue close…
Manufacturers may head for court over unsettled forex backlog – MAN DG
In this interview, the Director-General of the Manufacturers Association of Nigeria, Segun Ajayi-Kadir, discusses the impact of unremitted dollar debts…
Transcorp Power Targets 740MW Electricity From Ughelli Power Plant
Transcorp Power has revealed its ambition to boost electricity generation at its Ughelli power plant, targeting a peak of 740…
Local Refinery To Buy Crude In Naira — FG
iThe Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has introduced a new template to facilitate seamless domestic crude oil supply, including…
SEC, Capital Market Community Hold Q1 Meeting
The Securities and Exchange Commission (SEC) has revealed plans for the Capital Market Committee (CMC) meeting, scheduled to be held…
UBA outlines growth strategies for 2024
United Bank for Africa (UBA) Plc has unveiled its strategies to bolster growth prospects for the 2024 financial year. During…
Food inflation hits 40% in Nigeria as prices continue to soar
The National Bureau of Statistics (NBS) has reported a staggering increase in food inflation to 40% in March, marking a…
N720bn lost to lower crude production in two months- Report
Nigeria experienced a significant loss of approximately N720 billion in revenue due to consecutive monthly declines in crude oil production…
FG begs electricity union to avoid strike
The Federal Government has urged members of the National Union of Electricity Employees (NUEE) not to go on strike in…