Binance collaborates with gov over detention of executives
The Economic and Financial Crimes Commission (EFCC) of Nigeria is prosecuting Binance for alleged money laundering totaling over $35 million.…
Category: Business
Ecobank repays $500 million eurobond
Ayo Adepoju, Group Chief Financial Officer of ETI, highlighted that the Eurobond, issued in April 2019, received positive reception from…
Paddy prices begin to decline
Over the past three years, the cost of paddy ranged from N9,000 to N20,000 per 100kg bag, influenced by factors…
Google fires 28 employees after protest over Israeli contract
Google has terminated the employment of 28 employees following a sit-down protest organized by the group “No Tech for Apartheid”…
Dangote Refinery utilizes cheaper US oil imports- reports
The Dangote Petroleum Refinery, with a capacity of 650,000 barrels per day, is capitalizing on cheaper oil imports from the…
CBN tightens monetary policy, limits banks’ ability to lend
In Nigeria, the Central Bank (CBN) is taking steps to control inflation by tightening its monetary policy, but it’s having…
Tinubu applauds Dangote Group for diesel price reduction
President Bola Tinubu has praised Dangote Oil and Gas Limited for slashing the price of Automotive Gas Oil (diesel), which…
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…
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…
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…
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…
$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…
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…
Zenith bank takes steps to meet CBN’s N500bn capital requirement
Zenith Bank Plc has announced its proactive measures to comply with the Central Bank of Nigeria’s (CBN) new capitalization requirement…
Six banks shareholders get N366bn dividends –Report
In 2023, investors in six Nigerian financial institutions reaped significant rewards, with final dividends totaling approximately N366.93 billion, as reported…
NNPC Chief pledges increased gas supply to stabilise naira
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Kyari, has vowed to escalate the supply of Nigeria’s…
Nike pins hopes on Olympics to win back market share
The company will outfit athletes from various countries, including the United States, Canada, China, Kenya, Germany, Uganda, and more, across…
New CEO of Africa Prudential eyes capital market opportunities
Catherine Nwosu, the recently appointed Managing Director/Chief Executive Officer of Africa Prudential Public, has outlined plans for the firm to…
US inflation surges to 3.5%, raises concerns for emerging markets
In a surprising turn, US inflation accelerated beyond expectations in March, reaching 3.5 percent, signaling a setback in efforts to…
Dangote says diesel price reduction to cut Nigeria’s inflation
Aliko Dangote, the chairman of Dangote Group, has revealed that his refinery’s initiative to sell diesel at discounted prices is…