Divestment of NAOC to Oando in line with PIA, says NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that the recent approvals for Nigerian Agip Oil Company’s (NAOC) divestment…
Category: Local
Africa Prudential grows profit by 87% to N1.1b in first half
Africa Prudential Plc has reported an impressive 87% increase in profit for the first half of 2024, reaching N1.13 billion,…
Richway Microfinance Bank Receives DBN’s Award for Highest Impact on Start-Ups
Richway Microfinance Bank has been honored with the 2023 Award for Microfinance Bank with the Highest Impact on Start-Ups by…
CBN lifts suspension on Standing Lending facility
The Central Bank of Nigeria (CBN) has lifted the suspension on the Standing Lending Facility (SLF), allowing banks to borrow…
FG spending exceeds revenue by 225% — BudgIT
A report by BudgIT has revealed that the Nigerian government spent N19.50 trillion in 2023, three times its revenue of…
198 Extractive Companies and Agencies Submit Data for NEITI’s 2022/2023 Revenue Audit
The Nigerian Extractive Industries Transparency Initiative (NEITI) has received data submissions from 198 extractive companies and government agencies for its…
Oando acquisition of Agip followed due process – NUPRC
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has confirmed that Oando Plc’s acquisition of Nigeria Agip Oil Company (NAOC) complies…
FG may convert Arik, Aero Contractors to national carriers
The Asset Management Corporation of Nigeria (AMCON) is considering merging Arik Air and Aero Contractors into a national carrier due…
Customs ushers in new leadership with latest appointments
As the Nigeria Customs Service (NCS) bids farewell to several key management members due to statutory retirement, Comptroller General of…
Tinubu to inaugurate N178bn Onne terminal next week
President Bola Tinubu will officially open the newly upgraded West Africa Container Terminal (WACT) in Onne, Rivers State, next week.…
FX turnover hit $7.4bn in July – Report
In July, Nigeria’s foreign exchange turnover reached N11.48 trillion ($7.39 billion) at the official trading window, up from N10.01 trillion…
CBN, SEC okay Ecobank custody business
Ecobank Nigeria Limited has received approvals from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN)…
Naira shows strength, dollar hits two-year low against British Pound
The Nigerian Naira strengthened against the US dollar during Friday’s trading session, appreciating to N1570.14/$ from N1586.1/$ on Thursday. This…
Nigeria’s domestic dollar bond steals Eurobond shine
Jamiu Agah, a Lagos-based IT consultant, is one of many Nigerians excited about the Federal Government’s new domestic dollar bond.…
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,…
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…
China’s robot makers chase Tesla to deliver humanoid workers
China is aggressively advancing in the humanoid robot industry, aiming to rival Tesla in building battery-powered robots for factory and…
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…
Equity market extends loss by N65bn
The Nigerian equity market continued its downward trend on Thursday, with a loss of N65 billion as the All Share…
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…
Crypto trader turns $1000 into $400,000 trading Tron’s memecoin Sunwukong
The crypto community is abuzz after an anonymous trader, identified as TDm2, transformed a $1,000 investment into a staggering $400,000…
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…
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…