Browsing Category
Local
Naira depreciates to N1,575/$ in parallel market
The Naira depreciated to N1,575 per dollar in the parallel market, down from N1,565 per dollar the previous day.
…
CBN sells one-year Treasury Bills at 22.1% in July auction
The Central Bank of Nigeria (CBN) sold one-year Treasury Bills at a 22.1% stop rate during its July 24 auction to…
FCMB posts N64.2 billion pre-tax profit in the first half of 2024
FCMB Group recorded a profit before tax of N64.2 billion in the first half of 2024, a 68% increase from N38.2…
US refiners’ Q2 profits fall on low margins, soft fuel demand
U.S. oil refiners are set to report significantly lower earnings for the second quarter compared to last year,…
Forex: Reps Pass Bill To Impose ‘Windfall Tax’ On Banks
The House of Representatives has approved a bill to impose a 'Windfall Tax' on commercial banks that benefited…
First Bank/Visa Promo To Reward 520 Cardholders
First Bank has initiated a Visa Cross Border and Summer campaign in collaboration with Visa, running from April 1,…
Access Bank Disburses N740b To 18m Digital Borrowers
Access Bank has disbursed N740 billion to 18 million borrowers through its digital lending services since…
FG’s deficit spending falls 29% to N2.83trn in Q1’24
The Federal Government of Nigeria reduced its deficit spending by 29% in the first quarter of 2024, bringing the…
DBN secures access to over $100b Green Climate Fund
The Development Bank of Nigeria Plc (DBN) has become the first Direct Access Entity (DAE) in Nigeria to receive…
NACCIMA, others kick as CBN hikes interest rate to 26.75%
The Central Bank of Nigeria (CBN) has raised its benchmark Monetary Policy Rate (MPR) to 26.75% from 26.25% in an…
Support for Dangote Refinery Swells, Kyari Denies Owning Blending Plant in Malta
Amid ongoing disagreements between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory…
South African rand weakens, eyes on inflation data
The South African rand weakened by about 0.75% in early trading on Tuesday, trading at 18.38 against the dollar as…
ATM transactions decline 13% to N28.2 trn
In 2023, the value of Automated Teller Machine (ATM) transactions in Nigeria decreased by 13.6 percent to N28.2…
We are working on postal reform bill — Postmaster General
The Postmaster General of Nigeria, Ms. Tola Odeyemi, emphasized the importance of passing the long-pending postal…
Electricity: FG targets 9,000MW from renewable energy
The Nigerian government plans for the renewable energy sector to contribute 9,000 megawatts of power by 2030 as…
Incoming CIIN president unveils agenda for insurance industry growth
Mrs. Yetunde Ilori, the incoming president of the Chartered Insurance Institute of Nigeria (CIIN), plans to…
Energy stakeholders brainstorm on midstream, downstream devpt at SPE-NAICE 2024
Professionals and key players in the energy sector will gather at the SPE-NAICE 2024 event to explore advancements…
AEDC Appoints 4th CEO In 11 Months
The Abuja Electricity Distribution Company (AEDC) has appointed Engr Chijioke Okwuokenye as the acting Managing…
Forex inflow via IMTOs hits $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators (IMTOs) increased by 38.86 percent to $1.07…
Domestic workers must benefit from N70,000 minimum wage – Senate
The Senate and the National Council for Women Society (NCWS) have called for domestic servants to be included in…
Agbakoba warns NNPC against taking over Dangote refinery
Senior Advocate of Nigeria Olisa Agbakoba has cautioned against the Nigerian National Petroleum Company Limited…
Chapel Hill Denham named Nigeria’s best investment bank
Chapel Hill Denham has been awarded the title of Best Investment Bank in Nigeria at the 2024 Euromoney Awards for…
Forex inflow via IMTOs hits $1.07bn in three months – CBN
Foreign exchange inflows from International Money Transfer Operators (IMTOs) in Nigeria saw a significant increase…
India boosts spending on job creation, rural areas in first budget after election
India's Finance Minister Nirmala Sitharaman unveiled a budget of $24 billion for the 2024/25 fiscal year, focusing…
Digital tax talks in G20 spotlight as US tariff threat looms
Negotiations for a global tax deal are ongoing past the June 30 deadline, with the G20 finance leaders meeting…
NGX delists three companies over poor standards
The Nigerian Exchange (NGX) has delisted three companies—Niger Insurance Plc, Resort Savings and Loans Plc, and…
Minimum wage: MAN seeks compliance exception for MSMEs
The Manufacturers Association of Nigeria (MAN) has requested that micro, small, and medium enterprises (MSMEs) be…
FG mulls suspension of N10 sugar tax on beverages
The federal government is considering a temporary suspension of the N10 tax on Sweetened Sugar Beverages (SSBs) to…
Economy faces threats with 1.4m bpd crude output
Nigeria's oil output, including condensate, is projected to remain low at 1.4 million barrels per day (mbpd) in…
Dangote Fights Back… NMDPRA Letter Shows Regulator Approved Refinery’s In-house…
Dangote Refinery is defending the quality of its refined products following allegations by the Nigerian Upstream…