Pension Fund Managers Increase Stock Investments to N550 bn
In the first three months of 2024, pension fund managers in Nigeria purchased Nigerian stocks worth N550 billion, reaching a…
Category: Local
Coastal Highway: FG pays N2.75bn compensation for demolished properties
During a meeting at Eko Hotel and Suites in Lagos, David Umahi, the Minister of Works, announced that the Nigerian…
Uganda secures $295m loan from Islamic Development Bank for projects
Uganda has recently finalized a deal with the Islamic Development Bank (IDB) in Saudi Arabia, obtaining a loan of $295…
MTN records N575.69 Pre-Tax Loss in Q1 despite revenue growth
MTN Nigeria Communications Plc has reported a loss after tax of N392.7 billion for the first quarter of 2024, marking…
Court Grants EFCC Interim Order to Freeze 1,146 Bank Accounts
The EFCC alleges that the frozen accounts are connected to individuals utilizing virtual cryptocurrency exchanges to manipulate the value of…
FG initiates 2024 oil bid rounds, offers 12 oil blocks to investors
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the commencement of the 2024 oil bid rounds, presenting approximately 12…
NERC deregulates meter prices, allows DisCos and manufacturers set prices
The Nigerian Electricity Regulatory Commission (NERC) has announced the deregulation of meter prices under the MetER Assets Provider (MAP) scheme.…
FMDQ Group Appoints CBN Deputy Governor Muhammad Sani Abdullahi as New Chairman
FMDQ Group has named Muhammad Sani Abdullahi, the Deputy Governor of the Economic Policy Directorate at the Central Bank of…
FG recovers N57 Billion in tax Liabilities from MDAs
At a sensitization workshop on the Federal Government Debt Recovery Drive through Project Lighthouse Programme in Enugu, Mr. Okokon Udo,…
Tanzania shuts down Hydroelectric stations to manage excess electricity
Tanzania’s Prime Minister, Kassim Majaliwa, announced the closure of five hydroelectric stations to address excess electricity in the national grid.…
Dana Air suspension raises controversy in Aviation industry
The suspension of Dana Air’s operations following a runway incident on its Abuja-Lagos flight has stirred controversy in the aviation…
ARCON warns against security-threatening content
The Advertising Regulatory Council of Nigeria (ARCON) has issued a caution to advertising agencies regarding the presentation of creative and…
Capital releases for 2024 fiscal year to commence in May
The Accountant General of the Federation, Mrs. Oluwatoyin Madein, announced that capital releases for the 2024 fiscal year will begin…
SMEDAN to empower women-led businesses
The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has introduced the “SMEDAN Speed Pitch”, a business pitch competition…
NAISU set to kick off, focused on reviving economy
The inaugural Nigeria Auto Industry Summit (NAISU), organized by the Nigeria Auto Journalists Association (NAJA) in collaboration with the National…
US seeks 36 months’ jail for Binance founder Zhao
U.S. prosecutors have recommended a 36-month prison sentence for Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange.…
UBA, Access, and FBN lead banks in electronic banking revenue increase
United Bank for Africa (UBA) Plc, Access Holdings Plc, and FBN Holdings Plc emerged as the top earners in electronic…
Wale Bolorunduro appointed as new Chairman of LivingTrust Mortgage bank
LivingTrust Mortgage Bank, a Nigerian financial company, has named Wale Bolorunduro as its new chairman, starting from April 19, 2024.…
Transcorp Power welcomes Tuedor-Matthews, Odita as directors
Transcorp Power Plc, a subsidiary of Transnational Corporation Plc (Transcorp Group), has named Faith Tuedor-Matthews and Charles Odita as independent…
$2.1bn reserve depletion: CBN sold only $581m to market — Report
Nigeria’s external reserves have decreased by $2.16 billion over the past month, reaching a seven-year low of $32.29 billion on…
Nestle Nigeria’s Fixed Assets Revalued At N305.4bn
Following foreign exchange losses in 2023 due to the naira depreciation, Nestlé Nigeria PLC has conducted a strategic revaluation of…
Dangote Refinery slashes diesel, aviation fuel prices to N940 and N980 respectively
Yesterday, the $20 billion Dangote Petroleum Refinery announced further reductions in the prices of diesel and aviation fuel to N940…
Naira depreciates against Dollar, hits N1,234 at official market
The value of the Nigerian naira dropped against the United States dollar, reaching N1,234 at the official foreign exchange market…
International Breweries shareholders approve $379.9m loan-to-equity conversion
During an Extraordinary General Meeting, shareholders of International Breweries endorsed a $379.9 million loan from its majority shareholder, AB InBev…
Naira rebound leads to drop in rice prices across Nigeria
The recent strengthening of the naira against the dollar has brought relief to consumers, with the price of a 50-kilogram…
Sportsbet.io welcomes three new ambassadors to Its team
Yolo Group’s Sportsbet.io has expanded its team of ambassadors with three new additions, joining the likes of Nwankwo Kanu, Brett…
Sterling, FCMB, Stanbic see biggest jump in FX gain
While big banks grabbed attention for foreign exchange gains last year, Sterling Financial Holdings Plc, FCMB Group Plc, and Stanbic…
Diop to replace Chaudhuri as World Bank country director for Nigeria
Ndiame Diop, a Senegalese national, is set to assume the position of World Bank Country Director for Nigeria, replacing Shubham…
Naira gains to N1,250/$ after CBN sells fresh dollars to BDCs
The Central Bank of Nigeria (CBN) has initiated another round of discounted dollar sales directly to Bureau De Change (BDC)…
Nigeria sees 16% drop in POS transactions on bank transfers
Point-of-Sale (POS) transaction values in Nigeria experienced a notable downturn in the first quarter of 2024, witnessing a decline of…