Mr Jubril Adeniji, Managing Director of Guaranty Trust Bank Kenya and Head of East Africa, said…
Category: Business
Why Google blocked 5.5bn adverts, suspended 12.7m accounts
US-based multinational technology corporation Google has blocked over 5.5 billion adverts and suspended 12.7 million others…
FCCPC busts deceptive rice weight claims in Abuja
The Federal Competition and Consumer Protection Commission, FCCPC, has busted a syndicate with deceptive rice weight…
Nigerian govt to unveil N100bn consumer credit soon – FIRS Boss
The Federal Inland Revenue Service Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed…
FIRS has no plans to hike taxes – Adedeji
The Chairman of the Federal Inland Revenue, Zacch Adedeji, has reiterated the agency’s commitment not to…
Naira closes at N1,300.43 per USD Wednesday
The naira’s appreciation against the US dollar continued on Wednesday, exchanging N1,300.43 per dollar at the…
NNPCL denies reducing fuel price
The Nigeria National Petroleum Corporation, NNPC has debunked reports that it reduced the price of Premium…
ABCON reveals when Naira will appreciate to N1,000 per USD
The Association of Bureau de Change Operators in Nigeria, ABCON, has forecasted when the Naira will…
Dollar not selling at N1,000/$1 – BDCs
The dollar is not selling at N1,000/$1, Bureau De Change, BDC, operators have told DAILY POST.…
Confusion as IBEDC disconnects UCH from power supply over N400m debt
There was confusion on Wednesday as the Ibadan Electricity Distribution Company, IBEDC, announced that it has…
Naira Appreciation: Utilize time bought by CBN – Financial expert, Aja tells govt
A financial analyst and educator, Kalu Aja, has advised the Nigerian government to utilize the window…
Naira Appreciation: Utilize time bought by CBN – Financial expert, Aja tells govt
A financial analyst and educator, Kalu Aja, has advised the Nigerian government to utilize the window…
Group commends Tinubu, CBN for stabilizing Naira
The Independent Media and Policy Initiative, IMPI, has said that the fiscal and monetary policy authorities…
Naira’s appreciation: Emulate NNPCL CEO, Kyari – Shehu Sani tells Dangote, BUA, others
Former lawmaker Senator Shehu Sani has urged Aliko Dangote and other captains of industries to emulate…
Eko Disco appoints Momoh as Acting MD after Sanda removal
Eko Electricity Distribution Company has announced the appointment of Rekhiat Momoh as Acting Managing Director/ Chief…
Speculators in Binance wishing Naira falls to N2,500 against USD – Onanuga
Amid the continued appreciation of the Naira in the foreign exchange market, President Bola Ahmed Tinubu’s…
Naira appreciates to N1,290 per USD amid CBN’s interest rate hike
Naira’s appreciation against the US dollar continued on Monday, exchanging N1,290 and N1,382.95 per USD at…
CBN Gov Cardoso insists all FX backlogs cleared
The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, says those claiming the foreign…
CBN Governor Cardoso explains position on Binance
The Governor of the Central Bank, Olayemi Cardoso, has explained that the apex bank has continued…
BREAKING: CBN raises interest rate to 24.75%
The Central Bank of Nigeria has raised the monetary policy rate, known as the interest rate,…
Forex subsidy to BDC operators reason for Naira appreciation – Finance Analyst, Aja
A financial analyst, Kalu Aja has said the Naira appreciation in the foreign exchange market is…
Footwear sales in Nigeria, SSA countries contribute $24bn to global apparel exports
Footwear sales in Nigeria, South Africa, and other Sub-Saharan African countries contributed $24 billion to global…
Crude oil price surges to $85.67 amid supply concerns
The price of Brent crude oil surged to $85.67 and the West Texas Intermediate crude rose…
Ginger famers lost over N12bn to fungal disease – Nigerian Govt
The Nigerian federal government has said the outbreak of the ginger blight disease in four states…
FEC okays 2% quota, investment fund for youth
The Federal Executive Council meeting presided over by President Bola Tinubu has approved two initiatives aimed…
Naira appreciates to N1,360 against dollars at forex market
The naira’s appreciation against the US dollar continued on Monday, exchanging N1,360 and N1,408.04 per USD…
FX crisis: Don’t sell above N1,269 per dollar – CBN orders BDCs
The Central Bank of Nigeria, CBN, has provided Bureau De Change, BDCs, operators with $10,000 at…
Airfares rise by 18.03% in Nigeria – NBS
The average airfare paid by passengers for specified routes for a single journey increased by 18.03…
Transport fare paid by commuters within cities rose by 46.98% – NBS
The average fare paid by commuters for journeys within the city increased by 46.98 per cent…
Binance breaks silence on employee’s escape from custody in Nigeria
Binance, a cryptocurrency platform, has reacted to the report that one of its detained employees, Nadeem…
BDC operators explain Naira appreciation against USD
The Association of Bureau De Change Operators of Nigeria, ABCON, has said the oversubscription of recent…
12.5kg cooking gas price surged by 46.88% – NBS
A 12.5 kilogram cylinder of Liquified Petroleum Gas, known as cooking gas, increased by 46.88 per…
Binance executive reportedly escapes from custody in Nigeria
Amid the standoff between the Nigerian government and Binance, a cryptocurrency platform, one of the two…
FG files criminal charges against Binance
The Federal Government has initiated criminal proceedings against Binance, a prominent cryptocurrency exchange platform over alleged…
Nigerian govt gives update on N50,000 presidential conditional grant scheme
The Nigerian Federal Government announced that applicants of its N50,000 Presidential Conditional Grant Scheme for citizens…
Diesel price surges by 50% – NBS
The average price of automotive gas oil, known as diesel, increased by 50.20 per cent on…
Prices of rice, garri, yam surge by over 100% – NBS
The prices of rice, garri, and yam, popular staple foods in Nigeria, surged to 134.81 per…
Cooking gas price hike: APC chieftain asks Tinubu to intervene
A chieftain of the ruling All Progressives Congress, APC, in Osun State, Olatunbosun Oyintiloye, has asked…
N40bn metre contract: Adelabu woos local manufacturers after controversy
Amid the controversy surrounding the award of a N40 billion metre contract to a foreign firm,…
States in Nigeria at risk of insolvency – CPPE raises alarm
The Centre for the Promotion of Private Enterprise, CPPE, has raised the alarm that the majority…
Economic hardship: 31 states owe CBN N330bn salary bailout funds
A document from the Central Bank of Nigeria showed that thirty-one states owed the apex bank…
Naira appreciates by N340 against USD in four weeks
A review of foreign exchange trading in the past four weeks shows that Naira gained N234.01…
USD supply dips by 30.7% despite Naira appreciation
The supply of United States Dollar dipped by 30.7 per cent to close at $199.71 million…
Investors gain N146.95bn in market capitalization at NGX
Investors at the Nigerian Exchange Limited, NGX, gained N146.95 billion in market capitalization as the All-Share…
Ekiti Revenue Service pushes for Central Billing System to curb leakages, boost IGR
In a bid to bolster its revenue generation and ensure transparency, the Ekiti State Revenue Service,…
Customs suspends 25% penalty on smuggled vehicles users
Following the directive of the Minister of Finance and the Coordinating Minister of the Economy, Wale…
Currency Swap: Naira appreciates against Dollar
The Nigerian Naira has experienced a slight appreciation at the official market, trading at N1,431.49 to…
Foreign investors to pick talents from Abia grassroots sports – Gov Otti
Abia State Governor, Alex Otti has said his administration has set up mechanisms to revive inter-house…
Customs suspends 25% penalty on illegally imported vehicles
The Nigeria Customs Service, NCS, on Friday, announced the suspension of a 25 per cent penalty…
Nigeria’s debt stock N97.3trn in 2023 – DMO
Nigeria’s total public debt increased to N97.341 trillion in the fourth quarter of 2023. The Debt…
Rewane names Naira appreciation against USD, two others as good news for Nigerian economy
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismark Rewane, said the continued Naira…
Arnault overtakes Bezos, Musk to reclaim world’s richest man position
Bernard Arnault has overtaken Jeff Bezos, Elon Musk, Mark Zuckerberg and others to reclaim his position…
Rewane names three good news for Nigerian economy
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismark Rewane, said the continued Naira…
Naira appreciation against USD sustainable – Rewane
The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismark Rewane has said the current…
Tinubu backs sustainability reporting initiative for investment promotion
President Bola Tinubu has affirmed Nigeria’s commitment to implement sustainability reporting standards aimed at unlocking capital…
Inflation: Experts tackle Tinubu govt over rising poverty, hunger
Nigeria’s untamed rising inflation under the government of President Bola Ahmed Tinubu in the last nine…
Nigeria, world at large performing poorly in Sustainable Development Goals – UNDP
A report by the United Nations Development Programme, UNDP, said Nigeria and the rest of the…
Naira exchanges at N1,382 per USD
The naira’s appreciation against the US dollar continued on Thursday, exchanging N1,382.35 per USD at the…
Instagram announces date to launch revenue sharing feature for Nigerian content creators
Meta Platforms Incorporated has announced it will launch a revenue-sharing feature with Nigerian content creators on…
N193bn intervention loans in Nigeria declared lost – CBN
A report by the Central Bank of Nigeria, CBN, has revealed that out of the total…
Nigerian youths are gifted, competent – Tinubu tells Meta delegation
President Bola Ahmed Tinubu told delegates from Meta Platforms Incorporated that Nigerian youths are gifted and…
Tinubu seeks expansion of digital rechnology Space for business growth
President Bola Tinubu has said his administration is sustaining investments in digital technology to enhance the…
FX backlog: Foreign airlines fault CBN’s settlement claim, insist $700m still trapped
Foreign Airlines operating in the country have faulted the announcement by the Central Bank of Nigeria,…
Kerosene price hits N1,340 – NBS
The National Bureau of Statistics, NBS, has said the average retail price of a litre of…
Biafra: BRGIE launches Biafracoin website for digital savings, wealth creation
Biafra Republic Government In-Exile has officially launched its Biafracoin Cryptocurrency website for easy savings and wealth…
Ebonyi: Don’t tax vegetable sellers, petty traders – Gov Nwifuru warns revenue collectors
Governor Francis Nwifuru of Ebonyi State has cautioned revenue collectors against collecting taxes from vegetable sellers…
$5.6m alleged fraud: IGP seeks transfer of case against Akintoye Akindele to Lagos
The Inspector General of Police (IGP) has asked a Federal High Court in Abuja, to order…
Naira appreciates massively to N1,492 against USD at forex market amid foreign reserves surge
Naira appreciates massively to N1,492 against USD at forex market amid foreign reserves surge It appreciated…
CJN to earn N64.7m annually as Tinubu increases Judicial officer’s salaries
Chief Justice of Nigeria, CJN, Olukayode Ariwoola, will now earn N1.1 million monthly basic salary and…
FAAC allocation for FG, states in February 2024 [BREAKDOWN]
The three tiers of Government, Federal, State and Local government councils shared N1.15 trillion in revenue…
‘Let them do the job’ – Tinubu kicks against summoning of MDAs, agencies’ heads
President Bola Tinubu has abdised members of the National Assembly to limit summoning heads of ministries,…
Tinubu bans on foreign funded trips for ministers, other govt officials
President Tinubu has temporarily banned ministers, heads of agencies, and other government officials from embarking on…
BREAKING: CBN clears all FX backlog as external reserves hits $34.11bn
The Central Bank of Nigeria (CBN), on Wednesday, announced it has cleared the $7 billion foreign…
Nigerian banks announce fresh requirement for consumers seeking forex
Nigerian banks said evidence of a recent three-year tax clearance certificate is now a prerequisite for…
Access Holdings announces plans to acquire National Bank of Kenya
Access Holdings has announced plans to acquire the National Bank of Kenya. According to a corporate…
Petrol price stands at N679.36 in February – NBS
The National Bureau of Statistics, NBS, has said that the average retail price of a litre…
Naira appreciates, exchanges for N1400 against US dollar
The naira on Wednesday exchanged for N1400 against the United States, US, dollars in the parallel…
CBN lifts FX restrictions on milk, dairy products import to crash prices
The Central Bank of Nigeria, CBN, has lifted forex restrictions on the importation of milk and…
Controversy as Power Minister ignores Nigerian firms in N40bn mass metering contract
The Minister of Power, Adebayo Adelabu, stirred controversy as the Federal Government awarded a N40 billion…
N30 trillion Ways and Means: Senate urges banks to go after loan defaulters
The Senate Ad-hoc Committee investigating the N30 trillion Ways and Means on Tuesday insisted on recovery…
USD supply surges by 38.9% as Naira maintains massive gains at forex market
US Dollar transactions surged by 38.93 per cent as the Naira maintained significant gains in the…
Senate okays N446.3bn FIRS 2024 Budget
The Nigerian Senate has passed N446.3 billion as the 2024 Federal Inland Revenue Service, FIRS, budget.…
CERAWeek: Nigeria focused on closing energy supply gap – NNPCL GCEO, Kyari
Group Chief Executive Officer of Nigerian National Petroleum Company Limited, NNPCL, Mele Kyari, says Nigeria is…
Nigerian government backs 20MW solar-hydro hybrid project to boost electricity supply
The Nigerian government has backed the establishment of a 20-megawatt solar-hydro hybrid project in Shiroro by…
Inflation: CBN announces date for MPC meeting
The Central Bank of Nigeria, CBN, has fixed March 25 and 26, 2024, as the dates…
Zenith Bank announces Adaora Umeoji first female GMD, CEO
Zenith Bank Plc has announced Adaora Umeoji as its first female Group Managing Director. The company…
Fuel price may reduce when Port Harcourt refinery starts working – IPMAN president, Maigandi
The National President of the Independent Petroleum Marketers Association of Nigeria, IPMAN, Abubakar Maigandi, has hinted…
Naira revaluation pushes Nigeria’s imports to N35.9trn in 2023
Naira revaluation pushed Nigeria’s total imports to N35.9 trillion in 2023 from N25.5tn recorded in 2022.…
Naira appreciation continues as USD supply surges at forex market
The Naira continued its appreciation against the US Dollar at the foreign exchange market as USD…
Anxiety in CBN over alleged sack of directors
There is anxiety among the management staff of the Central Bank of Nigeria as 19 directors…
N2.1trn CBN intervention loan unpaid since 2018 – Report
The Central Bank of Nigeria, CBN, has N2.126 trillion in unpaid funds from its intervention programme,…
NIN: NIMC orders investigation into data breach allegation
The National Identity Management Commission, NIMC, has ordered for a comprehensive investigation into an alleged citizens’…
CBN slashes exchange rate for cargo clearance amid Naira appreciation against USD
The Central Bank of Nigeria has reviewed its exchange rate for cargo clearance downwards by N18.87…
Fertilizer donation free for Nigerian farmers – CBN
The Central Bank of Nigeria has insisted that its 2.15 million bags of fertilizers donated to…
Nigerian govt eyes fresh $1bn World Bank loan for IDPs
The Nigerian Federal Government is in talks with the World Bank to complete the processes of…
Inflation pushing us out of business – Traders lament persistent price hike
Traders have decried the unprecedented hike in prices of commodities., saying the market system has become…
Cement price hike: CPPE faults Reps’ comment on manufacturers, says action hurting investors
The Centre for the Promotion of Private Enterprise, CPPE, says recent comments of House of Representatives…
Lagos Govt unveils 25% discounted food markets
Governor Babajide Sanwo-Olu of Lagos State has unveiled markets that will offer 25 per cent discounts…
CBN’s deadline: NIN-BVN registration surges to 61.16m in March
Ahead of the April 2024 deadline by the Central Bank of Nigeria, the registration for Bank…
Naira continues appreciation against USD at forex market
The Naira ended last week on a positive note as it continued its appreciation against the…