Nigeria Spends N1.47tr On Vehicle Importation
Mr. Oluwemimo Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), voiced concerns over Nigeria’s heavy reliance…
Category: Business
About 60% of applicants have received N50,000 under trade grant scheme — Doris Uzoka-Anite
During the National Economic Council (NEC) meeting at the Presidential Villa, President Tinubu announced significant initiatives aimed at enhancing food…
VFD Group Obtains Shareholders’ Approval to Raise N30bn Additional Capital
At its virtual 8th Annual General Meeting (AGM), VFD Group Plc secured shareholders’ approval to raise an additional N30 billion…
Ethiopian Airlines Group Wins Double Awards in Africa
Ethiopian Airlines Group, recognized as Africa’s largest airline group, has secured top honors once again at the APEX Passenger Choice…
Microsoft Not Leaving Nigeria – CEO
Mrs. Ola William, Managing Director and CEO of Microsoft Nigeria plc, has denied rumors that Microsoft plans to leave Nigeria.…
‘Minor Fire Incident’ at Dangote Refinery Fully Contained, Says Management
A minor fire outbreak occurred at a section of the Dangote Refinery in Ibeju Lekki, Lagos, on Wednesday morning. Workers…
CBN discontinues price verification for Form ‘M’ (Effective July 2024)
The Central Bank of Nigeria (CBN) announced that it will discontinue its Price Verification System (PVS) Portal starting July 1,…
Nigeria’s Treasury Bills debt surges to N10.4 trillion, largest balance in Nigerian history
Nigeria’s Treasury Bills (T-Bills) debt has surged to a record N10.4 trillion, marking a 60% increase in just three months,…
Otedola tightens grip on First Bank, acquires more shares
Billionaire businessman Femi Otedola purchased a total of 9,193,339 units of shares across two tranches, amounting to substantial investments in…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue…
Nigeria advances internet connectivity with $2bn fibre-optic project
In an initiative aimed at enhancing Nigeria’s connectivity infrastructure, Finance Minister Wale Edun addressed the Fibre Forward Strategic Development Workshop…
SEC, NGX Group agree to capital market digital transformation
The Securities and Exchange Commission (SEC) has announced its support for the Nigeria Exchange Group (NGX) in its endeavor to…
U.S. crude imports touch two-year high despite lukewarm demand
In May, U.S. crude oil imports reached their highest level since July 2022, averaging 3.1 million barrels per day (bpd)…
European shares gain, Aussie jumps, yen teeters near 160
European stock markets saw gains on Wednesday, boosted by a rebound in Nvidia shares and a broadly positive risk sentiment…
Singapore port congestion shows global ripple impact of Red Sea attacks
Singapore’s container port is experiencing its worst congestion since the COVID-19 pandemic, largely due to prolonged vessel re-routing to avoid…
Exclusive: UBS urges Swiss government to clarify capital demands, sources say
UBS is pressing the Swiss government to clarify additional capital buffer requirements following its acquisition of Credit Suisse. The bank…
Naira Depreciates by 0.71% Against Dollar
On Tuesday, the naira faced renewed pressure in the official foreign exchange market, depreciating by 0.71% against the dollar. The…
FEC Steps Down Minimum Wage Memo for Further Consultations by President Tinubu
On Tuesday, the Federal Executive Council (FEC) decided to step down the minimum wage memo to allow President Bola Tinubu…
Kogi IGR Increases To N23.5bn
Kogi State’s internally generated revenue (IGR) has increased from N6.5 billion to N23.5 billion annually over eight years, according to…
Sterling HoldCo Gets Shareholders Approval to Raise N200bn Fresh Capital
At its inaugural Annual General Meeting (AGM), major shareholders of Sterling Financial Holdings Company Plc. approved a management decision to…
Salpha Energy gets €25,000 grant for Ashden Award
Salpha Energy has been awarded a €25,000 grant for winning the 2024 Ashden Award for Energy Innovation, supported by the…
European stocks fall as Nvidia slump hits tech sector
European stocks fell on Tuesday following a significant 7% drop in chipmaker Nvidia, which had a ripple effect on U.S.…
Headline: China Defends Against Accusations of Unfair Subsidies and Trade Practices
China’s Premier Li Qiang pushed back against accusations from the U.S. and EU at a World Economic Forum meeting in…
Nasdaq futures rise as Nvidia stabilizes after AI stocks rout
Nasdaq futures saw an uptick on Tuesday as AI-related stocks, including Nvidia, rebounded from recent losses, prompting investors to await…
Bank of Japan opens door for a hawkish double surprise
The Bank of Japan (BOJ) is signaling a potentially larger quantitative tightening (QT) plan in July, accompanied by a possible…
FG tackles revenue leakage, deploys Central Disbursement Solutions
The Federal Government of Nigeria is launching a new revenue management system called ‘Revenue Assurance and Central Disbursement Solutions’ to…
Crypto Traders Lose Over $280m
The cryptocurrency market is facing significant losses after its second-worst weekly decline in 2024, with Bitcoin’s price dropping nearly 5%…
Annual Report: NGX Slams N76.8m Fine On 9 Firms
The Nigerian Exchange Limited (NGX) has fined nine listed companies a total of N76.8 million for failing to submit their…
Flutterwave Lays Off 30 Employees
African payments giant Flutterwave has laid off about 30 employees, approximately 3% of its workforce, as part of a strategic…
Shoprite to Close Novare Central Mall Branch in Abuja by June 2024
Shoprite Mall has announced it will cease operations at its Novare Central Mall branch in Wuse Zone 5, Abuja, effective…