FG Continues $3.5Bn Eni & Shell Suit, Italy Drops Charges
Nigeria will continue its $3.5bn civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings against…
Category: Local
Stock Investors Lose N6bn as MPC Hikes Rate To 14%
The decision of the Monetary Policy Committee (MPC) to raise the Monetary Policy Rate (MPR) to 14% from 13% had…
Higher Crude Oil Prices Boost Nigeria’s Oil And Gas Stocks
The Oil and Gas Index which emerged as the best performing index has gained 64.42% year-to-date. The Nigerian Stock Market…
CBN’s RT 200 generates $600 million in 6 months
The Central Bank of Nigeria during its monetary policy committee briefing has revealed that the increase recorded in Nigeria’s external…
Water Resources Bill: FG Says It Will Push On Despite Backlash From Nigerians.
The Federal Ministry of Water Resources has state that it will not be deter by backlash on the propose Water…
Nigeria To Pursue $3.5 Billion Civil Claim Against Eni And Shell
Nigeria will continue its $3.5 billion civil claim against Shell Plc and Eni SpA after Italian prosecutors dropped criminal proceedings…
Power Supply To Drop Again, TCN Alerts Nigerians
Power supply will drop by 50 megawatts, the Transmission Company of Nigeria; said the drop would be because of planned…
Firms Raise N246b From Corporate Bonds In H1
The dormant primary equities segment of the Nigerian capital market has prompted listed companies; to rely on the bond market…
Palm Oil Set To Plunge 20% By September, Top Analyst Predict
The world’s most consumed cooking oil Palm oil may extend its slide, tumbling more than 20% to 3,000 ringgit $673…
Stakeholders Express Cautious Optimism As NNPC Transits
Stakeholders have expressed cautious optimism as the Nigerian National Petroleum Company Limited (NNPC) transits today; insisting that most of the…
FG To Pay Fee For NNPCL Petrol Import As Buhari Unveils Firm Today
President Muhammadu Buhari will unveil the new Nigerian National Petroleum Company Limited (NNPCL); today just as the company will now…
Aero Contractors To Shut Down Operations From Tomorrow
Aero Contractors has said it is shutting down its operations; due to the impact of Nigeria’s harsh business environment on its…
Marketers Finally Hike Petrol Price To N170-N190/Litre
Premium Motor Spirit popularly known as petrol will now be sold between N170/litre and N190/litre in filling stations across the…
Traders, Buyers Groan As Food Inflation Hits 20.60%
Traders and buyers in Lagos markets have expressed dismay over soaring prices of food items as Nigeria’s food inflation figures…
Asset Manager GAM Warns On Profit Citing Market Turbulence.
GAM Holding (GAMH.S) expects to post a loss for the first half of 2022, the Swiss asset manager said; citing…
Nigeria’s Securities And Exchange Commission, AfDB Sign $460K Capital Market Surveillance Deal
The African Development Bank (AfDB) Group and the Securities and Exchange Commission (SEC); have announced the signing of a $460,000…
DMO Raises N124 Billion In July FGN Bond Auction As Investors Oversubscribe Long-Term Instrument.
The Debt Management Office (DMO) has announced that it raised the total sum of N123.84 billion; in its Federal Government…
Crypto Lender Celsius Defends Bitcoin Mining Plans As Bankruptcy Kicks Off.
Cryptocurrency lender Celsius Network said bitcoin mining is key to the company’s restructuring efforts. New Jersey-based Celsius received approval from…
Bank Of America Puts Aside $200 Million For Probe Into Bankers’ Use Of Personal Devices.
Bank of America (BAC.N) has set aside around $200 million for a regulatory matter connected to the unauthorized use of…
Lawsuit Accuses Apple Of Antitrust Violations Over Apple Pay.
Apple Inc (AAPL.O) was sued in a proposed class action by payment card issuers accusing the iPhone maker; of abusing…
More Worries Over Rising Inflation, Headwinds As MPC Meets Today
In the face of economic and financial challenges, members of the rate-fixing arm of the Central Bank of Nigeria and…
BlackRock Misses Profit Estimates, Pulls Back Hiring After Market Turbulence
BlackRock Inc said it is tightening its belt and putting off some hiring amid an economic environment; that has spooked…
ECOWAS Court Tags Twitter Ban “unlawful and a violation of rights of Nigerians”
The ECOWAS Community Court of Justice has declared that the federal government’s order to ban Twitter in June 2021 was…
Trade Unions Pull Out Of Maritime Council Over Breach Of Agreements
Maritime Workers Union of Nigeria says it has withdrawn its membership from the Council of Maritime Transport Unions and Associations…
Dangote Cement Signs 5-Year Agreement On Development With Host Communities
Dangote Cement has signed a five-year community development agreement with its Ibese Plant host communities in Ogun State. The contract serves as…
Ogun Inaugurates W’Africa’s First Fibre Optic Cable Factory- Nigeria.
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo and the Executive Secretary of the Nigerian Content Development and…
Anti-Corruption Agencies May Recover IOCs $6.4bn Debt – NEITI.
The Nigeria Extractive Industries Transparency Initiative threatened oil firms operating in the country that it would not hesitate to activate…
Mutual Funds Rebound, Assets Hit $3.64bn – Report.
After suffering decline in 2021, Nigeria’s assets under management in mutual funds rose to $3.64tn in the first five months…
Crude Oil Theft In Nigeria Is “Organized Crime”–Chevron Nigeria CEO.
Crude oil theft in Nigeria is an organized crime and should be differentiated completely from host community issues. This is…
Nigerian States Pay N21.62 Billion As External Debt Deductions In Q1 2022
Thirty-six states of the federation parted with a sum of N21.62 billion; as external debt deductions in the first quarter…