Browsing Category
Trade
SEC May Wield Hammer on Binance, Other crypto Platforms For Illegal Operations
The Securities and Exchange Commission (SEC), Nigeria, is considering imposing huge fines, potentially amounting…
Guinea’s Trade Unions Suspend Nationwide Strike
Guinea's trade unions have lannounced the suspension of a nationwide strike that had brought the West African…
Bitcoin Tops $57 000 as Large Players Enter Market
Bitcoin reached a two-year high on Tuesday, driven by indications of significant investments from major players in…
Exchange Rate Fluctuates, Naira hits N1,900 and Rebounds to N1,354 Against USDT
In the past twenty-four hours, the Binance cryptocurrency platform encountered significant turbulence as the…
Japan Pledges Bilateral Treaties with Ukrainian Prime Minister
In a diplomatic move, Japan welcomed Ukrainian Prime Minister Denys Shmyhal in Tokyo on Monday to discuss…
Naira Depreciates as FX Market Witnesses Decline in Dollar Supply
The foreign exchange (FX) market in Nigeria experienced a notable 56.58% decrease in dollar supply on Wednesday,…
Nigeria’s Oil Output Increases to 1.43m Barrels in 2024
Nigeria's oil production experienced a notable increase in January 2024, rising to 1.43 million barrels per day…
Russia Warns the West Over Asset ‘Theft’
Russia issued a stern warning to the West on Tuesday, cautioning that Moscow would respond firmly if the United…
Shell Completes Crude Oil Supply to Port Harcourt Refinery
The Shell Petroleum Development Company of Nigeria Limited has announced the successful completion of the supply…
UK Officials Seek Investment Opportunities in Nigeria
The UK Minister for Business and Trade, Kemi Badenoch, alongside the Prime Minister’s Trade Envoy to Nigeria,…
Hardship Increases over high Prices of Cooking Gas and Diesel
Nigerian households and businesses face increasing challenges due to the rising costs of essential resources such…
Export Sales Increases by 77% Amid Forex Reform
Three major players in Nigeria's consumer goods industry - Unilever Nigeria Plc, Cadbury Nigeria Plc, and Okomu…
Foreign Exchange: Market Records $584m Increase
The official Nigeria Autonomous Foreign Exchange Market witnessed a substantial boost, reaching $584 million in…
Nigerians’ Foreign Expenditure Hits $98 Billion in a Decade
According to recent data released by the Central Bank of Nigeria (CBN), Nigerians have spent over $98 billion on…
Nigerian Exchange Records N849 Billion Loss
On Tuesday, the Nigerian Exchange witnessed losses spurred by declines in BUA Cement, Sterling Financial Holding…
Cadbury Nigeria Records N8.397 bn Operating Profit- Reports
Cadbury Nigeria Plc has disclosed a remarkable operating profit of N8.397 billion for the full year ending…
Trump to Impose Higher Tariffs on Chinese Goods if Re-elected
Former US president Donald Trump has declared his intention to levy additional tariffs on Chinese goods exceeding…
NNPC Adresses Concerns on Fuel Scarcity
The Nigerian National Petroleum Company Limited (NNPCL) has addressed concerns regarding long queues at filling…
Dollar Supply Surges, Naira Closes Week at N1435.53/$
In the official foreign exchange market, dollar supply witnessed a significant increase, rising by 180.59 percent…
Shell PLC Returns $23bn to Shareholders
Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23…
CBN Sets $1m Minimum Share Capital Requirement for IMTOs
The revised guidelines for the operation of IMTOs, officially released via the CBN's website and signed by Dr.…
Bullish Trading on Stock Market, Gaining N902bn
The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion.
…
Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline
Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus…
FBN Holdings Reports N309bn Profit
FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced…
CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate
In a bid to stabilize Nigeria's volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit…
GlaxoSmithKline Reports 33.76% Profit Decline
GlaxoSmithKline Consumer Nigeria Plc witnessed a significant 33.76% decline in profit, dropping to N510.80 million…
NNPC Engages South Korea for Gas Projects
The Nigerian National Petroleum Company Limited (NNPCL) has initiated discussions with a South Korean consortium…
Nigeria Flares $1 Billion Worth of Natural Gas
BusinessDay's investigation revealed that Nigeria flared approximately $1 billion worth of natural gas last year,…
Foreign Exchange: Naira plungs to N1348.63/$
The Nigerian Autonomous Foreign Exchange Market witnessed a historic low on Monday as the naira plunged to…
Exit of Burkina Faso, Mali, and Niger Threatens ECOWAS Trade Relations
The potential withdrawal of Burkina Faso, Mali, and Niger Republic from the Economic Community of West African…