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Guinea Insurance Secures Regulatory Approval for Private Placement of 1.8 Billion…
Guinea Insurance Plc has announced that it has received regulatory clearance to conduct a private placement for…
President Tinubu’s Administration Set to Pay N187.32bn Debt to Local…
The forthcoming administration under President Bola Tinubu is projected to allocate around N187.32 billion for…
Nigerian Exchange Collaborates for Dollar Settlement Platform to Boost Tech…
The Nigerian Exchange Limited (NGX) has revealed its partnership with the Central Securities Clearing System…
Nigerian Naira Plunges to Record Low of N925/$1 on Parallel Market Amid Supply…
The Nigerian Naira has spiraled to an unprecedented low of N925 against the US Dollar on the parallel market,…
NDIC commences payment of depositors in 183 banks closed by CBN
The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of closed microfinance banks (MfBs) and…
WTO Director-General Ngozi Okonjo-Iweala Assures Support for Nigeria
World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has pledged her support for Nigeria during its…
Rising Costs Impact Nigeria’s Housing Market
Nigeria's housing market has experienced a sharp increase of about 40% in the cost of leases and sales in the…
Nigeria Loses N20 Trillion Annually Due to Tax Gaps
Nigeria is reportedly losing an estimated N20 trillion annually due to tax gaps, as revealed by Taiwo Oyedele,…
Nigerian Banks Deposit N822.34 Billion with Central Bank Amid Excess Liquidity
Nigerian Deposit Money Banks (DMBs) deposited N822.34 billion with the Central Bank of Nigeria (CBN) in July 2023,…
Sanlam Private Equity Acquires Majority Stake in Danny’s Auto Body Parts
Sanlam Private Equity (SPE), the private equity branch of Sanlam Investments, has successfully acquired a majority…
Dangote Cement and BUA Cement’s Fuel and Power Costs Surge Amid Rising…
During the first half of 2023, Dangote Cement Plc and BUA Cement Plc collectively spent a substantial amount of…
Apapa and Tincan Island Ports Account for Majority of Nigeria’s Trade in Q1…
Customs licensed agents have explained why the Lagos ports of Apapa and Tincan Island accounted for 89.9% of…
Eterna Plc Records 21.2% Revenue Growth in H1 2023, but Reports Loss Before Tax
Eterna Plc, in its IFRS Financial Statements for the half-year ended June 30, 2023, reported a revenue growth of…
President Tinubu Approves Over N275 Billion to Revitalize Manufacturing and MSME…
President Bola Tinubu has authorized the release of over N275 billion to revive the manufacturing and Micro,…
NDDC and NLNG Collaborate to Drive Sustainable Development in Niger Delta Region
The Niger Delta Development Commission (NDDC) and the Nigeria Liquefied Natural Gas Company (NLNG) are set to sign…
President Tinubu’s Nation Address: Economic Reforms and Commitment to…
President Bola Ahmed Tinubu addressed the nation, assuring Nigerian workers of an upcoming salary review to…
Nigeria Collects $85.1m from Gas Flare Penalties, Emphasizes Flare Elimination…
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) announced that the total gas flare penalties…
Insecurity Threatens Crude Oil Exports, Warn Petroleum Engineers
Petroleum engineers in Nigeria have voiced concerns over the decline in crude oil exports, attributing it to the…
ECOWAS Responds to Coup in Niger with Sanctions and Demands for Restoration of…
The Economic Community of West African States (ECOWAS) has demanded the full restoration of constitutional order…
Meridiam Completes Acquisition of Rift Valley Energy, Strengthening Clean Energy…
Infrastructure investor, Meridiam, has successfully concluded the acquisition of Rift Valley Energy Tanzania…
Inadequate Bunkering Activities Cost Nigeria N200bn Monthly, Stakeholders Say
Stakeholders reveal that Nigeria is losing approximately N200bn monthly due to inadequate bunkering activities in…
NECA Warns of 25% Inflation Rate by End of 2023 Amid Rising Concerns
The Nigeria Employers Consultative Association (NECA) issues a warning that inflation could reach 25% by the end…
FCCPC Cautions PoS Operators Against Price-Fixing Amidst Indiscriminate Charge…
The Federal Competition and Consumer Protection Commission (FCCPC) has issued a warning to point of sales (PoS)…
Nigeria’s Excess Crude Account Stagnant at $474m Despite Remittance of…
The Excess Crude Account (ECA) in Nigeria has remained stagnant at approximately $474 million over the past two…
Nigerian House of Representatives Launches Investigation into $9.05 Billion…
The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has initiated an Ad hoc Committee to conduct a…
Nigerian National Petroleum Company Clarifies N1.3tn Debt Status
The Nigerian National Petroleum Company Limited (NNPCL) clarified that the outstanding N1.3tn debt owed by the…
Nigerian Government Earns N80.86bn from Electronic Transfer Levies in Six Months
Data from the Federation Account Allocation Committee shows that electronic transfer levies generated N80.86…
Nigeria’s Money Supply Surges to Record N64.36 Trillion Amid Increased FAAC…
The money supply in Nigeria, known as M2, has reached an unprecedented N64.36 trillion, surging by 31.62%…
FBN Holdings Announces Plan to Raise Capital Through Rights Issue
FBN Holdings Plc, a financial services group, will seek approval from shareholders to raise fresh capital at its…
Investors Speculate Ahead of Central Bank of Nigeria’s Monetary Policy…
Investors are closely watching the upcoming meeting of the Central Bank of Nigeria (CBN) Monetary Policy Committee…