Regency Alliance grows profit to N1.93bn
Regency Alliance Insurance Plc reported a 225% increase in profit after tax for the year ending December 31, 2023, reaching…
Category: Business
Emirates Airlines unveils plans for return
After a two-year hiatus due to trapped funds and other challenges, Emirates Airlines is preparing to relaunch flights to Nigeria,…
Stakeholders seek synergy amongst oil industry operators
Chairman of the Major Energy Marketers Association of Nigeria (MEMAN), Huub Stokman, has emphasized the need for collaboration among oil…
Inflows from domestic dollar bond push forex reserves to $36.9b
Nigeria’s foreign exchange (FX) reserves have increased by $337.89 million week-on-week to reach $36.9 billion as of September 12, 2024.…
Cyber Criminals Target Nigerian Businesses with Over 580,000 Threats in 2024
Cyber criminals are increasingly targeting Nigerian businesses, with over 586,000 threats detected in the first half of 2024. According to…
Stockbrokers launch Lagos District Zone
The Chartered Institute of Stockbrokers (CIS) has officially inaugurated its Lagos Island District Society to enhance its membership drive and…
UK reveals key trends in work, study, and family visas For 2024
The UK’s immigration statistics for the year ending June 2024 reveal a total of 1.16 million visas issued across work,…
AfDB raises $2bn in new social bond issue
The African Development Bank (AfDB) has launched a new $2 billion social benchmark bond, set to mature on September 18,…
Maritime workers lament delay in port concession licences renewal
The Maritime Workers Union of Nigeria (MWUN) has called on the Federal Government to urgently renew the port concession licenses…
Q2 2024: Federal Government VAT Collection Up 9.11% to N1.56tn
In Q2 2024, Nigeria’s Value Added Tax (VAT) receipts rose to N1.56 trillion, representing a significant 99.82% year-on-year growth from…
Upper West, Upper East, record highest food and non-inflation rates
In August 2024, Ghana’s Upper West and Upper East regions recorded the highest inflation rates, with food inflation at 41.5%…
Cement retailers commend govt for passage of price regulation LI
Cement retailers in Ghana have expressed support for the new Legislative Instrument (LI) aimed at stabilizing cement prices. Retailers believe…
Boeing strike threat looms as workers vote on contract
Boeing’s U.S. West Coast factory workers are set to vote on a controversial new contract on Thursday, with the potential…
US holiday sales to grow at slowest pace since 2018, report says
U.S. holiday sales are expected to grow at their slowest pace in six years, data from Deloitte showed on Thursday…
American Businessman Sentenced to 68 Years in Nigerian Court for $1.6 Million Visa Fraud
American businessman Marco Antonio Ramirez has been sentenced to 68 years in prison by a Lagos court for defrauding Nigerians…
FG unveils plans to generate $100 billion annually from creative economy
The Federal Government of Nigeria has unveiled a comprehensive plan aimed at generating $100 billion annually and creating over two…
National committee to tackle multiple taxation, others
The Federal Government of Nigeria has established a five-member committee to address the issues of multiple taxation and the harassment…
Airtel okays $.5m fellowship
Airtel Africa has approved an initial $500,000 to fund the Airtel Africa Fellowship Program, aimed at supporting 10 undergraduate students…
Osubi Airport earns N831m in six months
Osubi Airport in Warri has seen significant growth in passenger traffic and revenue in the first half of 2024, generating…
Nigeria’s trade surplus rises 34% to N6.95 trn
Nigeria’s trade surplus experienced a significant rise in the second quarter of 2024, climbing 33.9% quarter-on-quarter (QoQ) to N6.95 trillion…
HARSH ECONOMY: Sacked workers withdraw N9.2bn from pension savings
In the first half of 2024 (H1’24), a total of 14,179 Retirement Savings Account (RSA) holders who lost their jobs…
Nigeria added 45,000bpd oil in August – Report
Nigeria’s crude oil production increased to 1.352 million barrels per day (mbpd) in August 2024, up from 1.307 mbpd in…
Marketers, refiners demand total subsidy removal
Petroleum marketers, refiners, and depot owners in Nigeria have called for the full deregulation of the downstream oil sector, urging…
UniCredit buys 9% stake in Germany’s Commerzbank, sparking takeover talk
Italy’s UniCredit has acquired a 9% stake in Germany’s Commerzbank for €700 million, raising speculation that UniCredit’s CEO Andrea Orcel…
Indonesian crypto exchange Indodax loses $22 million to hackers
Indonesian crypto exchange Indodax has suffered a major hack, losing $22 million in assets from its hot wallets. Blockchain analytics…
Mastercard rolls out Non-custodial Bitcoin debit card in historic move
Mastercard has introduced a new Bitcoin debit card in partnership with crypto payment company Mercuryo. This card allows users to…
VAT remains 7.5%, no hike planned –Edun
Nigeria’s Minister of Finance, Mr. Wale Edun, has debunked rumors that the Federal Government raised the Value-Added Tax (VAT) rate…
FG’s dollar bond attracted $900m subscription – Edun
Nigeria’s first-ever foreign-currency domestic bond has successfully attracted $900 million in subscriptions, surpassing expectations. The Minister of Finance, Wale Edun,…
Why NNPC may not lift Dangote petrol on Sunday
Four days before the Nigerian National Petroleum Company Limited (NNPC) was set to begin lifting Premium Motor Spirit (PMS) from…
Naira weakens to N1637/$
The Nigerian naira continued to decline against the US dollar, closing at N1637.59 at the end of trading on Tuesday.…