International Breweries shareholders approve $379.9m loan-to-equity conversion
During an Extraordinary General Meeting, shareholders of International Breweries endorsed a $379.9 million loan…
Naira rebound leads to drop in rice prices across Nigeria
The recent strengthening of the naira against the dollar has brought relief to consumers, with the price of a…
Sportsbet.io welcomes three new ambassadors to Its team
Yolo Group's Sportsbet.io has expanded its team of ambassadors with three new additions, joining the likes of…
Sterling, FCMB, Stanbic see biggest jump in FX gain
While big banks grabbed attention for foreign exchange gains last year, Sterling Financial Holdings Plc, FCMB…
Diop to replace Chaudhuri as World Bank country director for Nigeria
Ndiame Diop, a Senegalese national, is set to assume the position of World Bank Country Director for Nigeria,…
Naira gains to N1,250/$ after CBN sells fresh dollars to BDCs
The Central Bank of Nigeria (CBN) has initiated another round of discounted dollar sales directly to Bureau De…
Nigeria sees 16% drop in POS transactions on bank transfers
Point-of-Sale (POS) transaction values in Nigeria experienced a notable downturn in the first quarter of 2024,…
NNPC resume crude oil production at Awoba field after shutdown
The Nigerian National Petroleum Company Limited (NNPC Ltd.) and its Joint Venture partner, Newcross Exploration…
World bank halts $150m funding for Tanzania tourism project
The World Bank has suspended funding for a $150 million tourism project in Tanzania following allegations of…
Turkey to commence oil drilling in Somalia from 2025
Somalia has announced that Turkey will begin oil drilling operations along the country's extensive coastline…
Microsoft introduces smaller AI model
Microsoft (MSFT.O) unveiled Phi-3-mini, a cost-effective small language artificial intelligence model aimed at…
Why dollar is battering euro, Japanese yen and Chinese yuan
The resurgence of the US dollar has caught global financial markets off guard in 2024, with the US dollar index…
JAMB to reimburse fees for visually-impaired UTME candidates
The Joint Admissions and Matriculation Board (JAMB) has announced plans to reimburse fees paid for forms by…
Nigeria eyes $30bn from debut forex bond
Nigeria is getting ready to borrow money from international investors by selling its first foreign currency bond.…
Segun Alebiosun to serve as acting CEO of First Bank
Segun Alebiosun, currently the Executive Director and Chief Risk Officer, is likely to become the acting Managing…
Stable Naira appreciation expected to ease Inflation
Analysts predict that the recent stability in Nigeria's foreign exchange market, along with the strengthening of…
Dangote diesel supply to displace European imports
BusinessDay's investigation reveals that the Dangote oil refinery's diesel supply is set to replace the…
10 Of 39 MDAs scored above 50% in business facilitation — PEBEC
The Presidential Enabling Business Environment Council (PEBEC) has revealed that only 10 out of 39 government…
FG expects $2.2 billion World Bank loan and AfDB budget
The Federal Government of Nigeria anticipates receiving a $2.2 billion single-digit interest loan from the World…
Transcorp hotel reports 36.2% revenue growth
Transcorp Hotel Plc has revealed a notable increase of 36.2% in its revenue for the year 2023. During a…
Dana Air introduces health initiatives for staff and customers
Dana Air, a prominent Nigerian airline plans to host health talks and screenings for staff and regular customers,…
Massive banking stocks sell-off persists
The banking sector witnessed a significant sell-off last week ahead of the Central Bank of Nigeria's (CBN)…
FG to commercialize FMBN to enhance housing delivery
The Federal Government says it is reviewing loans and projects estimated at $500m executed by the Nigerian Content…
FG reviews $500 million loans and projects by NCDMB
The Federal Government is conducting a review of loans and projects totaling $500 million executed by the Nigerian…
Aviation threatens strike over aviation agencies’ revenue deduction
The Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) has issued a threat of industrial action…
Afriland Properties records 34% increase in profit
Afriland Properties Plc, a property management, investment, and development company, has reported a profit before…
Sub-Saharan Africa incomes falling further behind rest of world, says IMF
The International Monetary Fund (IMF) has highlighted that incomes in Sub-Saharan Africa are falling further…
Risk sensitive South African rand weakens as geopolitical tensions bite
South Africa's rand experienced volatility in early Friday trading following reports of an Israeli attack on Iran,…
Ghana deal with bondholders ‘a matter of time’, says IMF official
An IMF official stated that Ghana reaching a restructuring agreement with holders of its international bonds is…
Report shows FG may criminalise fiber cable damage -Report
Nigeria is taking steps to make it a crime to damage broadband fiber cables following complaints from major…