Cyber Criminals Target Nigerian Businesses with Over 580,000 Threats in 2024
Cyber criminals are increasingly targeting Nigerian businesses, with over 586,000 threats detected in the first half of 2024. According to…
Category: Local
Stockbrokers launch Lagos District Zone
The Chartered Institute of Stockbrokers (CIS) has officially inaugurated its Lagos Island District Society to enhance its membership drive and…
AfDB raises $2bn in new social bond issue
The African Development Bank (AfDB) has launched a new $2 billion social benchmark bond, set to mature on September 18,…
NNPC suspends fresh petrol orders over huge backlogs
The Nigerian National Petroleum Company (NNPC) has closed its petrol application portal, preventing independent marketers from placing fresh orders for…
Nigeria’s trade surplus hits N6.9tn in Q2 – NBS
Nigeria’s foreign exchange earnings saw significant growth in the second quarter of 2024, with the trade surplus rising to N6.95tn…
Maritime workers lament delay in port concession licences renewal
The Maritime Workers Union of Nigeria (MWUN) has called on the Federal Government to urgently renew the port concession licenses…
NNPC Demands Deployment of Its Crude Monitoring Team to Dangote Refinery
The Nigerian National Petroleum Company Limited (NNPC) and Dangote Refinery are making strides in their ongoing negotiations over in-country fuel…
Q2 2024: Federal Government VAT Collection Up 9.11% to N1.56tn
In Q2 2024, Nigeria’s Value Added Tax (VAT) receipts rose to N1.56 trillion, representing a significant 99.82% year-on-year growth from…
Shell’s $1.3bn asset sale to Renaissance not completed yet – FG
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has clarified that Shell’s $1.3 billion deal to sell its onshore assets to…
American Businessman Sentenced to 68 Years in Nigerian Court for $1.6 Million Visa Fraud
American businessman Marco Antonio Ramirez has been sentenced to 68 years in prison by a Lagos court for defrauding Nigerians…
FG unveils plans to generate $100 billion annually from creative economy
The Federal Government of Nigeria has unveiled a comprehensive plan aimed at generating $100 billion annually and creating over two…
Guaranty Trust recorded N1tr profit in six months
Guaranty Trust Holding Company (GTCO) Plc has achieved a historic milestone by becoming the first Nigerian financial institution to report…
National committee to tackle multiple taxation, others
The Federal Government of Nigeria has established a five-member committee to address the issues of multiple taxation and the harassment…
Airtel okays $.5m fellowship
Airtel Africa has approved an initial $500,000 to fund the Airtel Africa Fellowship Program, aimed at supporting 10 undergraduate students…
Osubi Airport earns N831m in six months
Osubi Airport in Warri has seen significant growth in passenger traffic and revenue in the first half of 2024, generating…
Nigeria’s trade surplus rises 34% to N6.95 trn
Nigeria’s trade surplus experienced a significant rise in the second quarter of 2024, climbing 33.9% quarter-on-quarter (QoQ) to N6.95 trillion…
HARSH ECONOMY: Sacked workers withdraw N9.2bn from pension savings
In the first half of 2024 (H1’24), a total of 14,179 Retirement Savings Account (RSA) holders who lost their jobs…
Nigeria added 45,000bpd oil in August – Report
Nigeria’s crude oil production increased to 1.352 million barrels per day (mbpd) in August 2024, up from 1.307 mbpd in…
4 million containers handled in five years, say barge operators
The Barge Operators Association of Nigeria (BOAN) has announced that its members successfully mobilized four million twenty-foot equivalent units (TEUs)…
Marketers, refiners demand total subsidy removal
Petroleum marketers, refiners, and depot owners in Nigeria have called for the full deregulation of the downstream oil sector, urging…
Indonesian crypto exchange Indodax loses $22 million to hackers
Indonesian crypto exchange Indodax has suffered a major hack, losing $22 million in assets from its hot wallets. Blockchain analytics…
First Bank of Nigeria halts misconceptions, Clarifies sale of FBNQuest merchant bank
First Bank of Nigeria (FBN) has confirmed that the recent sale of its 100% equity stake applies solely to FBNQuest…
Mastercard rolls out Non-custodial Bitcoin debit card in historic move
Mastercard has introduced a new Bitcoin debit card in partnership with crypto payment company Mercuryo. This card allows users to…
Taiwan to assist Nigeria achieve technological growth
Taiwan is ready to support Nigeria in boosting its technology sector, as revealed by Mr. James Huang, Chairman of the…
VAT remains 7.5%, no hike planned –Edun
Nigeria’s Minister of Finance, Mr. Wale Edun, has debunked rumors that the Federal Government raised the Value-Added Tax (VAT) rate…
FG’s dollar bond attracted $900m subscription – Edun
Nigeria’s first-ever foreign-currency domestic bond has successfully attracted $900 million in subscriptions, surpassing expectations. The Minister of Finance, Wale Edun,…
Why NNPC may not lift Dangote petrol on Sunday
Four days before the Nigerian National Petroleum Company Limited (NNPC) was set to begin lifting Premium Motor Spirit (PMS) from…
Naira weakens to N1637/$
The Nigerian naira continued to decline against the US dollar, closing at N1637.59 at the end of trading on Tuesday.…
Financial sector grew by 30% – FG
Nigeria’s financial sector grew by more than 30% in the first half of 2024, signaling strong economic recovery from contractions…
Oil production rose to 1.35mbpd in August – OPEC
Nigeria’s crude oil production increased from 1.307 million barrels per day (mbpd) in July to 1.352 mbpd in August, according…