Cadbury Nigeria Plc faces N19.09bn loss
Cadbury Nigeria Plc, a consumer goods firm, has reported a loss of N19.09 billion after tax for the financial year…
Category: Business
Nigeria plans nearly 300% Increase in electricity tariffs
The Nigerian government is reportedly considering a significant increase in electricity tariffs, aiming to attract investment into the sector. According…
Dangote refinery’s diesel supply lowers pump prices
The pump price of Automotive Gas Oil (diesel) in Nigeria has witnessed a significant drop from around N1,700/litre to approximately…
Dangote, Adenuga, others maintain top ranks on Forbes billionaire list
Despite economic challenges in the country, prominent Nigerian businessmen Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola have retained…
Naira appreciates to N1,270 in parallel market
Today, Tuesday, the Naira showed signs of appreciation against the dollar in both the parallel market and the Nigerian Autonomous…
Africa Prudential approve 900m dividends
Shareholders of Africa Prudential Plc have given their approval for the payment of N900 million in dividends, equivalent to 45…
Alternative bank, TK Tech Africa set $500m digital sukuk partnership
The Alternative Bank and TK Tech Africa are teaming up to revolutionize financial technology and non-interest banking in Nigeria with…
Nigeria’s exports to Netherlands hit N1.9 trillion in Q4
According to a report by the National Bureau of Statistics (NBS), Nigeria exported goods worth N1.9 trillion to The Netherlands…
Again Zenith Bank named best bank in Nigeria
Zenith Bank Plc has been honored as the Best Bank in Nigeria at the Global Finance Best Banks Awards 2024,…
Naira recovery now tackle inflation — BDCs
The Association of Bureaux de Change Operators of Nigeria has highlighted the positive impact of the naira’s recovery on the…
Chams Holdings bounces back with N20.22m profit
Chams Holdings Plc, known for providing identity verification solutions, made a remarkable comeback in 2023, returning to profit with a…
Tension in Lagos as fuel stations shut down over scarcity
Several parts of Lagos experienced palpable tension on Monday as a number of fuel stations were shut down due to…
Banks positioned to meet new recapitalization requirements
The Association of Corporate & Marketing Communication Professionals of Banks has expressed confidence that Nigerian banks are well-equipped to meet…
Four banks delay filing of 2023 audited results
Four prominent banks, including United Bank for Africa, Zenith Bank, Stanbic IBTC, and Wema Bank, have disclosed that they will…
Naira appreciates to N1,280 against Dollar on parallel market
The naira’s upward trajectory continues as the US dollar is currently trading at N1,280 on the parallel market, reflecting a…
Super-sized liquidity returns to Nigeria’s FX market as daily trades near $1bn
Nigeria’s foreign exchange market experienced its highest turnover in a single day since 2017 on Thursday, with a total of…
FG directs banks to deduct 0.375% stamp duty on loans
The Federal Government has instructed commercial banks in Nigeria to deduct and remit 0.375% on all loans disbursed by them,…
CBN sells N1.64 trillion in treasury bills as higher interest rates attract investors
The Central Bank of Nigeria (CBN) successfully conducted an auction of Nigerian Treasury Bills (NTBs) on March 27, 2024, which…
Crypto tycoon Sam Bankman-Fried sentenced to 25 yrs in prison
Sam Bankman-Fried, the disgraced cryptocurrency prodigy, received a 25-year prison sentence on Thursday following his conviction in one of the…
Oando PLC suspended from Johannesburg stock exchange over financial reporting delays
Oando PLC, a prominent Nigerian energy company listed on the Nigerian Exchange Limited (NGX) and the Johannesburg Stock Exchange (JSE),…
Daily FX turnover jumps to record $857 million
On Thursday, March 28th, the daily forex turnover reached a remarkable $857 million, marking the highest level since the implementation…
CBN Increases capital base for commercial banks to N500- N200 billion
In a sweeping financial reform announced on Thursday, March 28, 2024, the Central Bank of Nigeria (CBN) has raised the…
NNPC denies reports of fuel price adjustment
The Nigerian National Petroleum Company Limited (NNPC Ltd) clarified that recent reports suggesting a price change for Premium Motor Spirit…
Presco and Okomu Oil Palm companies eeport profit growth
Data compiled by BusinessDay reveals that the combined profit of Presco Plc and Okomu Oil Palm Company Plc surged by…
2m youths to be trained in Wema Bank/FGN-ALAT programme
Wema Bank has introduced the second cohort for the FGN-ALAT Digital Skillnovation Programme, in collaboration with the Federal Government of…
Leadership dispute emerges at Eko DisCo
A dispute over leadership has arisen at the Eko Electricity Distribution Company (EKEDC), with conflicting statements regarding the status of…
Dangote, Elumelu, Rabiu, others make Tinubu’s economic team
President Bola Tinubu has given the green light for the establishment of two crucial bodies aimed at addressing Nigeria’s economic…
Nigeria’s crude oil grades near $90 on Russia-Ukraine conflict
Nigeria’s oil futures, including Brass River and Qua Iboe, experienced gains on Wednesday due to escalating conflicts in the Middle…
BDC Gets 10k Dollars From CBN, To Sell At N1,269/$
Leaders of African nations have received a call to action to create a thriving economic environment for talented youth, aiming…
CBN sells $10,000 to each BDCs at N1,251/$1
The Central Bank of Nigeria (CBN) has issued a circular to Bureau De Change (BDC) operators, announcing the sale of…