FG’s million-dollar oil surveillance contract duplication raises questions
The Federal Government is embroiled in controversy over allegations of awarding duplicated oil contracts worth millions of dollars. The contracts,…
Category: Business
No Nigerian airline’ll survive current economic crisis –Fairfax Africa Fund predicts
Fairfax Africa Fund, backers of the failed Nigeria Air project, has forecasted the collapse of all but one domestic airline…
Cost of living crisis eases as prices of garri, potato, tomato drop
Food prices in Nigeria have started to decrease for the first time in 18 months, offering relief to households struggling…
Canada moves to end rail shutdown quickly; CN workers to return to work
Workers at Canadian National Railway (CNR) will return to work on Friday after the Canadian government intervened to end an…
Grocery stores boost political donations even as Democrats take aim
Political donations from major food companies to Democratic lawmakers have risen in the current congressional election cycle, even as many…
Infinity Trust Mortgage Bank plans N50bn capital raise
Infinity Trust Mortgage Bank Plc has unveiled plans to raise N50 billion through private placement to bolster its capital base…
NGX Regco backs FRC on new reporting standards
Olufemi Shobanjo, CEO of NGX Regulation Limited, praised the Financial Reporting Council of Nigeria (FRCN) for its pioneering role in…
FG installs power plants in six federal universities
The Federal Government, through the Rural Electrification Agency (REA), has successfully installed power plants in six federal universities as part…
FG deficit rose to N824bn in April – CBN
Nigeria’s fiscal deficit increased marginally by 0.1% to N824.79 billion in April 2024, up from N823.91 billion in March, according…
FAAN, NAQS forge partnership to boost air agro export
The Federal Airports Authority of Nigeria (FAAN) has teamed up with the Nigerian Agricultural Quarantine Services (NAQS) to improve the…
… Says President, Wale Tinubu not involved in OVH acquisition
NNPC Ltd has refuted allegations that President Bola Tinubu or his relative, Wale Tinubu, were involved in the acquisition of…
Oando finalises $783m acquisition of NAOC
Oando PLC has completed its $783 million acquisition of Nigerian Agip Oil Company (NAOC), Eni’s Nigerian subsidiary, marking a significant…
Kolomoni MFB appoints MD
Kolomoni Microfinance Bank has announced the appointment of Yusuf Adeojo as its new Managing Director. The board expressed confidence in…
Shares gain, dollar subdued as Fed readies rate cuts
European stocks saw a slight rise on Thursday, with the STOXX 600 index gaining 0.3%, supported by retail stocks. This…
Euro zone business activity gets boost from Olympics, PMI shows
Euro zone business activity showed unexpected strength in August, with the composite PMI rising to 51.2 from July’s 50.2, beating…
Germany plans majority stake in cruise ship builder, sources say
The German government, along with the state of Lower Saxony, plans to take a temporary majority stake in Meyer Werft,…
NBA Urges Full Support for Dangote Refinery to End Fuel Scarcity in Nigeria
The Nigerian Bar Association (NBA) has called for the full implementation of President Bola Ahmed Tinubu’s directive to supply crude…
FRC to tackle audit failures with new initiative
The Financial Reporting Council of Nigeria (FRC) has reinforced its commitment to enhancing audit oversight and eliminating audit failures in…
NCC orders telcos to block SIM cards 5 minutes after they are reported stolen
The Nigerian Communications Commission (NCC) has issued a directive requiring all telecommunications companies to block stolen SIM cards within five…
Crude sales in naira’ll exacerbate FX crisis, oil producers warn
The Independent Petroleum Producers Group (IPPG) has cautioned the Nigerian government about the potential economic risks of its recent decision…
Elon Musk Set To Build Starlink Ground Stations Across Nigeria
Elon Musk’s internet company, Starlink, is making significant progress in Nigeria by establishing ground stations across the country to enhance…
SUNU Assurances pays out N2.08bn in Claims
SUNU Assurances Nigeria Plc has paid out N2.08 billion in claims to its customers during the 2023 financial year, marking…
United Capital’s Share Price Soars 31% in August, Becoming Third Best-Performing Stock of 2024
United Capital’s share price rose by 31% in August 2024, reaching N17, making it the third best-performing stock this year,…
Aviation workers halt planned protest over revenue slash
Aviation workers have called off their planned protest against the Federal Government’s 50% revenue collection from aviation agencies, which was…
Domestic airlines ground 42 aircraft over forex shortage
In the past two years, 42 domestic aircraft in Nigeria have been grounded due to a severe shortage of foreign…
5 banks budget N222bn for cybersecurity
Five major Nigerian banks are raising capital to meet new Central Bank of Nigeria requirements. They plan to invest $1.20…
$3bn Badagry seaport seeks financial partners
The $2.59 billion Badagry Deep Seaport project is now in its second phase, focusing on implementation and finding strategic financial…
Talks ongoing to resume Nigeria-S’Arabia cargo flights – Keyamo
The Minister of Aviation and Aerospace Development, Festus Keyamo, has confirmed that negotiations to resume cargo flights between Nigeria and…
Ibom Air expands fleet operations, takes delivery of second Airbus
Ibom Air has welcomed the arrival of its second Airbus A220-300, furthering its goal to expand fleet operations in Akwa…
NPA to implement electronic call-up system at Onne Port
The Nigerian Ports Authority (NPA) is preparing to implement an advanced electronic call-up system at the Onne Port complex, following…