MTN declares N519bn loss in H1 on inflation, weak naira
MTN Nigeria Communications Plc has reported a significant loss after tax of N519.1 billion for the first half of…
Bitcoin dips as Mt. Gox moves $8.6 billion ahead of looming payouts to creditors
Mt. Gox, the defunct cryptocurrency exchange, recently executed a significant transaction involving over $2…
Lagos State Partners with PMI to Boost Project Management Efficiency
The Lagos State Government has formalized a partnership with the U.S.-based Project Management Institute (PMI) to…
9mobile customers groan as network is down for over 3 days
Customers of 9mobile are experiencing significant frustration due to a prolonged network outage that has affected…
Naira falls to 1,621/$ at official market
The naira fell to a four-month low on Tuesday, trading at N1621.12/$ at the official window, down from N1611.40/$…
FBN Holdings reports half year pre-tax profit of N411.9 billion
FBN Holdings reported a record pre-tax profit of N177.79 billion for the second quarter of 2024, an 18.9% increase…
Customers besiege banks to reactivate dormant accounts
Bank customers have been visiting their banks to reactivate dormant accounts in response to new Central Bank of…
The AfCFTA Protocols on Intellectual Property and Patent Protection for Businesses…
The African Continental Free Trade Area (AfCFTA) is a landmark initiative aiming to establish a single market for…
Morning Bid: Microsoft and job openings to hit pre-Fed vigil
This week, U.S. and global markets are focused on several significant events, starting with Microsoft's quarterly…
Commodities fall, stocks nervy ahead of Fed, BOJ rate decisions
Oil prices fell to their lowest since early June, with Brent crude dropping to $79.34 per barrel as concerns about…
Merck cuts annual profit forecast
Merck & Co has revised its full-year earnings forecast downward to $7.94 to $8.04 per share, from the previous…
Zenith Bank Finalises Plans For N290bn Rights Issue, Public Offer
Zenith Bank Plc is set to raise a substantial N290 billion through a combined Rights Issue and Public Offer. This…
Why CBN Wants To Take Over Dormant Account Balances From Banks
The Central Bank of Nigeria (CBN) has introduced new guidelines to manage dormant accounts and unclaimed funds in…
Customs declares N2.74trn H1 revenue, surpasses target by 8%
The Nigeria Customs Service (NCS) collected N2.74 trillion in the first half of 2024, surpassing its target of…
NAMA Halts Increase in Airline Fees to Ease Economic Strain
The Nigerian Airspace Management Agency (NAMA) has stopped its plan to raise navigational charges for airlines.…
Nigeria’s spending on jet fuel importation falls 87% to N31bn
Nigeria's spending on jet fuel fell sharply by 87% in the first quarter of 2024, dropping to N31 billion from…
SEC approves extension of Fidelity Bank offer by 14 days
The Securities and Exchange Commission (SEC) has allowed Fidelity Bank to extend its Public Offer and Rights Issue…
Nigerians risk layoff as top UK aid supplier faces collapse
Crown Agents, a long-established UK development contractor, is facing collapse due to severe financial issues.…
Naira crude sale ends 20-year-old opaque supply market
The Nigerian government will start selling crude oil in naira to local refineries like Dangote's, ending a…
Nestle’s woes continue as pre-tax loss hit N252.5 billion in 2024 half-year
Nestle Nigeria reported a net loss of N176.9 billion for the first half of 2024, a sharp increase from the N49…
NAMA Suspends Planned 800% Hike In Navigation Charges For Airlines
The Nigerian Airspace Management Agency (NAMA) has suspended its planned 800% increase in aircraft navigational…
Power sector strained as Togo, Benin, others owe Nigeria $14.19m for electricity…
The Nigerian Electricity Regulatory Commission (NERC) reported that none of the four international bilateral…
Competition toughens as 9Mobile gets new owner
9Mobile has faced significant challenges since Etisalat Abu Dhabi exited the Nigerian market in 2017 over a $1.2…
Netflix, Google, Microsoft increase naira prices on inflation
Due to escalating inflation and the devaluation of the naira, major technology firms like Netflix, Google, DSTV,…
Morocco, SA, Egypt dwarf Nigeria’s $210m auto industry
Nigeria's $210 million automotive industry lags behind peers such as Morocco, South Africa, and Egypt due to low…
Ecobank Ordered to Pay Over N1 Billion to Former Oceanic Bank Employees
The National Industrial Court in Lagos has mandated Ecobank Nigeria Limited to pay N1,086,611,589.11 to 1,742…
Fuel Rises To N1,300/Litre As Depots Run Dry
Fuel scarcity has hit Nigeria hard, causing long queues at petrol stations in major cities like Lagos, Ogun,…
Oil Producing Communities Threaten To Shut Down All Pipeline Facilities Over…
The Host Communities of Nigeria Producing Oil and Gas (HOSTCOM) has issued a warning that it will renew agitation…
Fitch: Inflation Has Peaked in Nigeria, Will Moderate Below 25% By Year-end
Fitch Solutions has projected that Nigeria’s high inflation, which reached 34.19% in June, has peaked and will…
BVN Enrolments Surge by 854,267 to 62.7m in Two Months
Bank Verification Number (BVN) registrations in Nigeria have risen to 62.7 million as of July 2024, up from 61.87…