NSIA Announces Offers $220, 000 for Innovation
The Nigeria Sovereign Investment Authority (NSIA) has unveiled the second edition of the NSIA Prize for Innovation (NPI 2.0), offering…
Category: Finance
Nigeria’s Oil Output Increases to 1.43m Barrels in 2024
Nigeria’s oil production experienced a notable increase in January 2024, rising to 1.43 million barrels per day (bpd) from 1.34…
Femi Otedola Set to Recieve $17m from Geregu Power Plant
Nigerian billionaire Femi Otedola is set to receive a substantial final dividend exceeding $17 million from his significant 78.64-percent ownership…
FCTA Lists Embassies Owing $5.3 Million in Ground Rent
The Federal Capital Territory Administration (FCTA) in Abuja, Nigeria, has published a list of 43 embassies and high commissions owing…
Russia Halts Annual Payments to Arctic Council- Reports
Russia has halted its annual payments to the Arctic Council until substantive work resumes with the participation of all member…
Money Lenders Endorses FCCPC Measures Over Digital Lending
The Money Lenders Association (MLA) has voiced its support for the Federal Competition and Consumer Protection Commission’s (FCCPC) efforts to…
Access Holdings CEO Herbert Wigwe Feared Dead in Helicopter Crash
Tragedy struck as a helicopter carrying Herbert Wigwe, the Chief Executive Officer of Access Holdings, crashed in California, United States…
Export Sales Increases by 77% Amid Forex Reform
Three major players in Nigeria’s consumer goods industry – Unilever Nigeria Plc, Cadbury Nigeria Plc, and Okomu Oil Palm Plc…
FG Vows Effective Implementation of Pension Reforms
The Director-General of the Bureau of Public Service Reforms (BPSR), Mr. Dasuki Arabi, has provided assurance that retirees will reap…
TotalEnergies’ Akpo West Field to Increase Output
Nigeria is poised to witness a rise in condensate production by 14,000 barrels per day, following the commencement of operations…
Customs Forecasts Revenue Surpassing N5.079 Trillion
The Comptroller-General of the Nigerian Customs Service (NCS), Adewale Adeniyi, has expressed confidence in the Service’s ability to exceed its…
NNPCL SpendS N267 Billion To Curb Insecurity
The Nigerian National Petroleum Company Limited (NNPCL) reportedly allocated a substantial N267.98 billion for security expenses over 16 months, reflecting…
Foreign Exchange: Market Records $584m Increase
The official Nigeria Autonomous Foreign Exchange Market witnessed a substantial boost, reaching $584 million in foreign exchange transactions, as revealed…
Businesses Deem Bank of Ghana’s Monetary Policy Insufficient
Businesses have expressed dissatisfaction with the Bank of Ghana’s (BoG) 100 basis point reduction in the monetary policy rate, lowering…
Airtel Africa Plans $100 million Share Buyback
Airtel Africa Plc has unveiled its intention to repurchase up to $100 million worth of its shares, underscoring confidence in…
Bank Directors Supports CBN on Foreign Currency Hoarding
The Bank Directors Association of Nigeria (BDAN) has expressed support for the Central Bank of Nigeria’s (CBN) directive instructing commercial…
IFC’s Invests $2 Billion Across Sectors in Nigeria
Sergio Pimenta, the Regional Vice President for Africa at the International Finance Corporation (IFC), revealed that the institution’s investments in…
Alan Kyerematen Plans to Revitalize Ghana’s Economy
Alan John Kwadwo Kyerematen, Leader and Founder of the Movement for Change, has introduced his Great Transformational Plan (GTP) aimed…
N146bn Needed for Marina Shoreline Repairs- FG
The Minister of Works, David Umahi, has highlighted the need for N146 billion to repair the deteriorating Marina shorelines during…
Neveah Ltd Redeems N2.92bn Commercial Papers
Neveah Limited, a commodity trading company specializing in solid minerals and agricultural products, has fulfilled its obligation by redeeming the…
NGX Regulation, IFRS, and FRC Nigeria Commits to Sustainability Reporting
The NGX Regulation Limited, IFRS Foundation, and Financial Reporting Council of Nigeria have reaffirmed their dedication to promoting sustainability reporting…
Shell PLC Returns $23bn to Shareholders
Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to…
Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus foreign exchange…
FBN Holdings Reports N309bn Profit
FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced a substantial profit of…