Naira Depreciates Further, Exceeds N1,600 to a Dollar
The naira has fallen to over N1,600 per US dollar at the official rate, with the dollar closing at N1,608.73…
Category: Local
Fitch revises Benue outlooks to positive
Fitch Ratings has upgraded Benue State’s Long-Term Issuer Default Rating (IDR) outlook from Stable to Positive, while affirming the IDR…
Aminu Umar appointed 1st African director on the board of International Chamber of Shipping
Aminu Umar, President of the Nigerian Chamber of Shipping, has been appointed as the first African director on the board…
Otedola announces support for windfall tax, urges banks to curb private jet expenses
Femi Otedola, Chairman of FBN Holdings, has announced his support for the windfall tax. He highlighted its role in ensuring…
African Airlines Record 11.8% Growth In Cargo
The International Air Transport Association (IATA) reported strong growth in global air cargo demand for June 2024. African airlines led…
Seplat Posts N244bn Half Year Pre-Tax Profit
Seplat Energy Plc announced a staggering 461% increase in pre-tax profit for the half-year ending June 30, 2024, reaching N244…
Tinubu approves N50,000 monthly stipend for Niger-Delta youths
President Bola Tinubu has approved a N50,000 monthly stipend for 10,000 youths in the Niger Delta to ease economic hardships.…
UK’s gain, Nigeria’s pain as nurses migration hits 9-years high
Nigerian-trained nurses are increasingly passing their professional exams in Nigeria but submitting their results abroad, particularly in the UK. A…
Youths’ anger shows up in SIM-NIN validation
On Monday, Nigerians protested aggressively against telecom companies that blocked lines not linked to the National Identification Number (NIN). The…
Airlines fly lucrative routes as plane shortage lingers
Nigerian airlines are adjusting their flight schedules to prioritize busy airports due to a shortage of aircraft. This shortage, driven…
MTN declares N519bn loss in H1 on inflation, weak naira
MTN Nigeria Communications Plc has reported a significant loss after tax of N519.1 billion for the first half of 2024,…
Lagos State Partners with PMI to Boost Project Management Efficiency
The Lagos State Government has formalized a partnership with the U.S.-based Project Management Institute (PMI) to enhance project management practices…
9mobile customers groan as network is down for over 3 days
Customers of 9mobile are experiencing significant frustration due to a prolonged network outage that has affected their ability to make…
Naira falls to 1,621/$ at official market
The naira fell to a four-month low on Tuesday, trading at N1621.12/$ at the official window, down from N1611.40/$ on…
FBN Holdings reports half year pre-tax profit of N411.9 billion
FBN Holdings reported a record pre-tax profit of N177.79 billion for the second quarter of 2024, an 18.9% increase from…
Customers besiege banks to reactivate dormant accounts
Bank customers have been visiting their banks to reactivate dormant accounts in response to new Central Bank of Nigeria (CBN)…
Merck cuts annual profit forecast
Merck & Co has revised its full-year earnings forecast downward to $7.94 to $8.04 per share, from the previous range…
Zenith Bank Finalises Plans For N290bn Rights Issue, Public Offer
Zenith Bank Plc is set to raise a substantial N290 billion through a combined Rights Issue and Public Offer. This…
Customs declares N2.74trn H1 revenue, surpasses target by 8%
The Nigeria Customs Service (NCS) collected N2.74 trillion in the first half of 2024, surpassing its target of N2.54 trillion.…
NAMA Halts Increase in Airline Fees to Ease Economic Strain
The Nigerian Airspace Management Agency (NAMA) has stopped its plan to raise navigational charges for airlines. This decision came after…
Nigeria’s spending on jet fuel importation falls 87% to N31bn
Nigeria’s spending on jet fuel fell sharply by 87% in the first quarter of 2024, dropping to N31 billion from…
SEC approves extension of Fidelity Bank offer by 14 days
The Securities and Exchange Commission (SEC) has allowed Fidelity Bank to extend its Public Offer and Rights Issue by 14…
Naira crude sale ends 20-year-old opaque supply market
The Nigerian government will start selling crude oil in naira to local refineries like Dangote’s, ending a 20-year-old scheme and…
Nestle’s woes continue as pre-tax loss hit N252.5 billion in 2024 half-year
Nestle Nigeria reported a net loss of N176.9 billion for the first half of 2024, a sharp increase from the…
NAMA Suspends Planned 800% Hike In Navigation Charges For Airlines
The Nigerian Airspace Management Agency (NAMA) has suspended its planned 800% increase in aircraft navigational charges, which was set to…
Netflix, Google, Microsoft increase naira prices on inflation
Due to escalating inflation and the devaluation of the naira, major technology firms like Netflix, Google, DSTV, GOtv, and Microsoft…
Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees
The National Industrial Court in Lagos has mandated Ecobank Nigeria Limited to pay N1,086,611,589.11 to 1,742 former employees of the…
Fuel Rises To N1,300/Litre As Depots Run Dry
Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun, Abuja, and…
Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over Unfair Treatment Of Dangote /Modular Refineries
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation for…
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will decrease to below…