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…
Category: Local
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…
It’s game, set and match — ALIKO DANGOTE
Dr. Reuben Abati has called for President Tinubu to intervene in the conflict between the Nigerian Midstream and Downstream Petroleum…
Dangote Refinery: Midstream, Downstream Regulatory Authority Giving Tinubu Bad Name — Abati
Aliko Dangote, Africa’s richest man, is widely recognized and respected across the continent. Over the past three decades, he has…
Naira Depreciates To N1,610/$ In Parallel Market
The Nigerian Naira experienced a significant depreciation on Friday, dropping to N1,610 per dollar in the parallel market, down from…
Barry Diller says Paramount pursuit ‘might be over’ for IAC, CNBC reports
Billionaire Barry Diller announced that his digital-media company, IAC, is no longer pursuing the acquisition of Paramount Global. In an…
Nasdaq futures jump as megacaps recover; inflation data in focus
Nasdaq futures jumped 1% on Friday, driven by a rebound in megacap tech and chip stocks. Major tech companies like…
Dangote/NNPC Rift: Nigeria’s Petrol Import From Malta Jumps 43 Times To $2.08bn
Nigeria’s importation of petroleum from Malta soared to $2.08 billion in 2023, a 43-fold increase. According to a report by…
FCMB Lifts Female Entrepreneurs With Zero-Interest Loans
The First City Monument Bank (FCMB) is addressing gender inequality in Nigeria’s business sector with its SheVentures programme, offering interest-free…
ICAN charges inductees to uphold principles of accounting
The Institute of Chartered Accountants of Nigeria (ICAN) has advised newly inducted Accounting Technicians to adhere to the five fundamental…
Vehicle importation falls 60.8% in H1’24
Vehicle imports into Nigeria fell sharply by 60.4 percent year-on-year to 10,991 in the first half of 2024, reflecting the…
Lafarge Africa Unveils Nigeria’s First Low-Carbon Multipurpose Cement, ECOPlanet Unicem
Lafarge Africa Plc has launched ECOPlanet Unicem, Nigeria’s first low-carbon multipurpose cement, with a 30 percent reduction in CO2 emissions.…
Nigeria imported $2.25bn fuel from Malta — Report
Nigeria has imported $2.25 billion worth of fuel from Malta over the past nine years, with a dramatic spike in…
ICYMI: Construction begins at Midoil refinery
Midoil Refining and Petrochemicals Company Limited has officially started construction activities in Lagos, with a sod-turning ceremony at Shekungba, Ikosi/Ejinrin…
Dangote Cement Reports Pre-Tax Profit Of N292.9 Billion, To Pay Tax Of N103 Billion
Dangote Cement Plc reported a pre-tax profit of N293 billion for the first half of 2024, marking a 22% increase…