First Bank, others join Zone decentralised payment network
First Bank, United Bank for Africa (UBA), and Zenith Bank have joined Zone’s decentralized payment network. This development follows Zone’s…
Category: Local
Air Peace economy class to London booked till August – COO
Air Peace’s Chief Operating Officer, Toyin Olajide, announced that economy class tickets for flights from Lagos to London are fully…
No going back on N250,000 minimum wage, TUC insists
The Trade Union Congress (TUC) remains firm on its demand for a N250,000 minimum wage for workers in Nigeria, according…
N400bn oil production shortfall threatens 2024 budget
Nigeria’s oil production is significantly below its OPEC quota and budget benchmarks, causing severe pressure on the industry. With a…
Apapa Customs collects over N1trn in 6mths
Despite a drop in importation, the Apapa Area 1 Command of the Nigeria Customs Service (NCS) collected over N1 trillion…
NCAA to sanction airlines over false flight schedule
The Nigeria Civil Aviation Authority (NCAA) has issued a warning to commercial airlines against deceitful departure time scheduling, emphasizing that…
Fuel Scarcity: Filling Stations To Operate Longer Hours To Aid Supply – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd.) has announced that fuel stations will extend their operating hours to improve…
Firm Invests In Renewable Energy, Generates 3,200 Kwh
BAT Nigeria has invested millions of dollars in a solar power plant at its Ibadan manufacturing facility, generating an average…
Access Holdings Launches N351 Billion Rights Issue
Access Holdings Plc, a top financial services group in Africa, has begun a N351 billion Rights Issue to enhance its…
Nigerian Content Creators Eye Facebook’s N150,000 Per 10,000 Views
Starting July 1, 2024, Nigerian social media creators on Meta platforms like Facebook will earn up to N150,000 for every…
UBA’s GMD appointed Chairman, CIBN Body of Banks’ CEOs
Oliver Alawuba, Group Managing Director and CEO of United Bank for Africa (UBA) Plc, has been appointed Chairman of the…
Zenith Bank Wins Best Commercial Bank and Best Corporate Governance Awards for 2024
Zenith Bank Plc has been named the Best Commercial Bank in Nigeria for the fourth consecutive year in the World…
CBN to auction N166bn T-bills as US, India await inflation data
July 10: OPEC Report and Nigerian Oil Output Decline The Organisation of the Petroleum Exporting Countries (OPEC) will release its…
Wema Bank Launches CoopHub to Empower Cooperative Societies
Wema Bank has launched CoopHub, a digital solution designed to empower cooperative societies, during the International Day of Cooperatives. The…
IGP to prosecute ex-personnel who ‘hijacked’ truck carrying 40,000 litres of petrol in Enugu
The Nigeria Police Force has announced the impending prosecution of three former officers involved in hijacking a truck loaded with…
Samsung Electronics workers strike as union voice grows in South Korea
Samsung Electronics workers initiated a three-day strike on Monday, demanding better pay, an additional day of annual leave, and changes…
Pension funds crossed N20tn in May – PenCom
The value of pension funds in Nigeria rose by 2.23% month-on-month, reaching N20.23tn in May 2024. According to the National…
Budget: FG releases N1.2tn for capital projects
The Federal Government disbursed N1.23tn to 17 ministries for capital projects as of September 30, 2023, as per the Budget…
NEM’s shareholders approve N3.0bn dividend
At the Annual General Meeting, shareholders of NEM Insurance Plc approved a N3 billion dividend for the fiscal year ending…
Access Holdings’ N351bn Rights Issue opens for subscription
Access Holdings Plc has announced the commencement of its N351 billion Rights Issue, part of a larger Capital Raising Programme…
Why CBN insists on another recapitalisation — Cardoso
The Central Bank of Nigeria (CBN) emphasized that further bank capitalisation is crucial for the nation’s economic stability. CBN Governor…
Foreign investments in manufacturing down 57.4% to N192bn in Q1’24
The harsh business environment in Nigeria led to a 57.36% decline in foreign investments in the manufacturing sector, falling to…
Brewing industry choking over high cost of raw materials
The Nigerian brewery industry is grappling with severe cost pressures as prices for local raw materials such as sorghum and…
Only 1.3% Of Informal Businesses Make N2.5m Profit – Report
The 2024 Informal Economy Report, compiled by Moniepoint, reveals that a mere 1.3% of Nigerian informal businesses make over N2.5…
FG Exempts GenCos, DisCos, Others From Withholding Tax
The federal government has exempted all electricity companies, including Generation and Distribution Companies (GenCos and DisCos), from paying Withholding Tax,…
Banks’ weekly borrowing from CBN jumps to N5.38trn on liquidity demand
The recent data from the Central Bank of Nigeria (CBN) reveals a significant increase in borrowing by Deposit Money Banks…
Oil slips as Gaza talks ease supply disruption woes; Hurricane Beryl in focus
Oil prices dropped on Monday after four weeks of gains due to potential progress in Gaza ceasefire talks, reducing Middle…
US, Australia commit to better Pacific banking as China influence grows
U.S. and Australian officials reaffirmed their commitment to improving financial connectivity in the Pacific as regional lenders and policymakers gathered…
Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes
Boeing has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle…
FG Increases Rate Of Mining Licences
The Ministry of Solid Minerals Development has introduced new rates for mining licenses to enhance ease of doing business and…