A financial analyst, Kalu Aja, has given Allen Onyema’s Air Peace solution to edge out foreign…
Category: Business
Nigeria’s crude Bonny Light surges in March – OPEC
Nigeria’s crude oil Bonny Light surged to $87.86 per barrel in March 2024 from $85.65 per…
BDCs ask CBN to ban non-oil exporters from obtaining FX at official market
The Association of Bureau De Change Operators of Nigeria, ABCON, has told the Central Bank of…
Nigeria’s inflation will surge to 32.65% in March – CAPE economic research
Ahead of the release of Nigeria’s inflation rate for March, CAPE Economic Research and Consulting says…
Recapitalisation: CBN gives reason for exclusion of banks’ retained earnings
The Central Bank of Nigeria, CBN, has reiterated that it excluded banks’ retained earnings to meet…
Nigeria’s electricity supply increased by 14.64 in 2023 – NBS
Nigeria’s electricity supply increased by 14.64 per cent in the fourth quarter of 2023 on a…
Nigeria’s unmetered electricity customers decreased to 5.83m in 2023 – NBS
Unmetered electricity customers in the Nigerian electricity supply industry, NESI, decreased to 5.83 million in the…
Global financial institutions lost $12bn to cyberattacks – IMF
The International Monetary Fund, IMF, has revealed that financial institutions worldwide lost $12 billion to cyberattacks…
Natural gas crucial in fueling Nigeria’s economic growth – Kyari
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mr Mele Kyari, has…
US inflation surges to 3.5% in March
The United States inflation figure increased to 3.5 per cent in March from 3.2 per cent…
Kaduna Electric sets up Rapid Response Teams
Kaduna Electric has set up rapid response teams to respond to downtime on Band A feeders…
Galaxy Backbone CEO, Adeyanju extends Eid-ul-Fitr greetings to Muslims
Prof Ibrahim Adeyanju, the Managing Director and Chief Executive Officer of Galaxy Backbone, has extended warm…
Google’s stock hits all-time high of $1.95trn
Alphabet, Google’s parent company, soared to $1.95 trillion, its highest-ever share price, on Tuesday. Data from…
Nigerian govt to sanction Discos if Band A customers don’t enjoy 20 hours electricity supply
The Minister of Power, Adebayo Adelabu, has said the Nigerian government will sanction electricity distribution companies,…
Nigeria govt pays N4.83trn CBN ways & means loan with NTBs
The Nigerian federal government has used part of the Nigerian Treasury Bills, NTBs, and Bonds issued…
Inflation, Naira devaluation pushed operating cost of 10 Nigerian banks to N3trn in 2023
Amid the rising cost of inflation and Naira devaluation, the combined operating expenses of 10 Nigerian…
Naira Appreciation: Sacrifices by Nigerians paying off – Presidency
The Presidency says the consistent appreciation of the Naira in the past weeks indicates that the…
Tariff hike: Sanction Discos failing to honour service delivery agreement- NSE tells NERC
The Nigerian Society of Engineers, NSE has tasked the Nigerian Electricity Regulatory Commission to impose hefty…
Sub-Saharan Africa among highest inequality globally – World Bank
The World Bank says inequality in Sub-Saharan Africa remains one of the highest in the world.…
Nigeria, other African countries’ economies to grow by 3.4% – World Bank
The World Bank has projected increased growth in Nigeria and other African economies to 3.4 per…
Reverse outrageous tariff hike – Electricity workers tell Tinubu
Senior Staff Association of Electricity and Allied Companies has asked President Bola Ahmed Tinubu’s government to…
Electricity Tariff Hike: Discos blame TCN for inability to supply 20 hours of power
Three electricity distribution companies have blamed Transmission Company of Nigeria for not supplying 20-hour power customers…
Tinubu keeps mum as Nigerians suffer outrageous electricity tariff hike
President Bola Ahmed Tinubu kept mum as the recent 240 per cent electricity tariff hike worsens…
Don’t transact in dollar – EFCC warns schools, hotels, others
The Economic and Financial Crimes Commission, EFCC, has warned schools, supermarkets, hotels and others against charging…
Naira appreciation continues amid fresh CBN intervention with BDCs
The naira continued its weeks-long appreciation against the dollar in the foreign exchange market amid the…
CBN stops foreign currency-denominated collaterals for Naira loans
The Central Bank of Nigeria, CBN, has prohibited the use of Foreign Currency-denominated collaterals for Naira…
Canal+ makes $2.9bn formal offers to buy MultiChoice
A French media group, Vivendi’s Canal+, has formally offered $2.9 billion to acquire MultiChoice, owners of…
BREAKING: Emirates Airlines to resume Nigeria flights soon – Keyamo
Emirates, UAE, has concluded plans to resume flights with Nigeria. This followed numerous visits from President…
BREAKING: Naira appreciation: CBN begins sale of dollars to BDCs at N1,101
The Central Bank of Nigeria, CBN, has begun another tranche of dollar sales to Bureau De…
BREAKING: CBN to sell $10,000 to BDC operators at N1,101/$
The Central Bank of Nigeria has begun another tranche of dollar sales to Bureau De Change…
Group faults misleading narratives over electricity tariff hike
The Tinubu Media Support Group, TMSG, has said the public outrage over the removal of electricity…
Naira appreciation: Onakoya reveals CBN’s policy responsible for gains in forex market
Prof Adegbemi Onakoya, a Finance and Business Transformation expert, has said the Central Bank of Nigeria’s…
What CBN should do to crash FX rate to N1000 per dollar – Aja
A financial expert, Kalu Aja has told the Central Bank of Nigeria to sell the Naira…
Electricity: Except customers are metered new tariff hike will cause dissatisfaction – FCCPC
The Federal Competition and Consumer Protection Commission, FCPCC says unless electricity customers are metered by electricity…
Nigerians getting 20hrs power supply – Discos justify price hike
The Association of Nigerian Electricity Distributors, ANED, has insisted that some Nigerians get at least 20…
Electricity tariff hike will stifle small-scale businesses – ACCI
The Abuja Chamber of Commerce and Industry, ACCI, says the recent increase in electricity tariffs will…
CIBN revenue grew by 63% to N1.37bn in 2023
The Chartered Institute of Bankers of Nigeria, CIBN, says it recorded a 63.60 per cent growth…
Fix epileptic electricity supply challenge in Osun – Gov Adeleke tasks IBEDC
The Osun State governor, Ademola Adeleke, has tasked the Ibadan Electricity Distribution Company, IBEDC, to resolve…
Naira appreciation: BDCs urge CBN to review FX rate
The Association of Bureau De Change Operators of Nigeria, ABCON, has appealed to the Central Bank…
Electricity tariff hike: NERC gives DisCos deadline to refund wrongly billed customers
The Nigerian Electricity Regulatory Commission, NERC, has issued distribution companies, DisCos, a deadline to refund customers…
Electricity tariff hike: NERC issues fresh directives to Discos
The Nigerian Electricity Regulatory Commission, NERC, has issued five new directives to electricity distribution companies following…
Nigerian Govt launches card for payment, other social services
The Nigerian Federal Government, through the National Identity Management Commission, NIMC, in collaboration with the Central…
Banks, breweries, foreign companies set to storm 13th Gateway International Trade Fair
Foreign companies from across West Africa have indicated interest in participating at this year’s Gateway International…
FG decries penchant for imported products, urges Nigerians to review habit
Minister of Innovation, Science and Technology, Chief Uche Nnaji has decried the penchant for imported products,…
Naira appreciates N351 against Dollar at forex in one month
The Naira appreciated N351.12 against the US Dollar in the foreign exchange market in the last…
Electricity Tariff Hike: 100% subsidy for power insensitive – Adelabu
The Minister of Power, Adebayo Adelabu, says it would have been insensitive for the Nigerian government…
Dangote, Onyema responsible for recovering economy – Agbakoba
A former chairman of the Nigerian Bar Association, NBA, Olisa Agbakoba, SAN, has said that the…
BREAKING: Jim Obazee concludes CBN probe, submits report to Tinubu
President Bola Ahmed Tinubu has officially closed Jim Obazee’s investigation into operations of the Central Bank…
NGX continues downturn as investors lose N252bn
The stock market of the Nigerian Exchange Limited, NGX, witnessed further losses on Thursday as market…
Private sector biggest driver of Nigeria’s economy – Tinubu
President Bola Tinubu has the private sector is the biggest driver of Nigeria’s economy. The President…
Electricity Tariff Hike: Apprehension, anger as Disco imposes new rate on all customers
There is apprehension as Abuja Electricity Distribution Company passed the new electricity tariff on all customers.…
Money supply: CBN sells N676.65bn at OMO in April
The Central Bank of Nigeria, CBN, has sold N676.65 billion through the Open Market Operation, OMO,…
Oil price hits $90 first time since October amid heightened geopolitical tensions
Crude oil price surged further on Thursday, hitting $90.65 per barrel amid geopolitical tensions. Brent crude…
Naira appreciation continues despite drop in FX turnover
The naira continued its appreciation against the US dollar despite a drop in foreign exchange turnover…
Union laments hike in electricity tariff, appeals for reversal
The Association of Senior Civil Servants of Nigeria, ASCSN, has lamented the hike in electricity tariff…
Electricity tariff hike: Massive job loss imminent, inflation to worsen – LCCI
The Lagos Chamber of Commerce and Industry says the hike in electricity tariff will cause massive…
No Nigerian has 20 hours of power supply per day, tariff hike unacceptable – TUC
The Trade Union Congress says no Nigerian receives 20 hours of power supply per day, noting…
What you must know about new Electricity Tariff hike in Nigeria
Following the approval of a 300 per cent electricity tariff hike by the Nigerian Electricity Regulatory…
Nigeria imports decline in Q1 2024 amid incessant duties hike
The Nigeria Customs Service recorded a 5 per cent decline by posting 311,492 in the volume…
Naira appreciation: FX turnover drops massively
Turnover at the foreign exchange market plunged to $166 million on Wednesday, 24 hours after hitting…
Electricity tariff hike shows govt has lost touch with reality – Obonga
The national secretary of the Network for Electricity Consumers Advocacy of Nigeria, NECAN and the lead…
We generated N1.3trn revenue in first quarter of 2024 – Customs
The Nigeria Customs Service, NCS, says it generated more than N1.3 trillion revenue in the first…
Increasing electricity tariff by 300% insensitive – PRP
The Peoples Redemption Party, PRP, has said the decision of the federal government to increase electricity…
Convert your dollars to naira before Dangote refinery starts – Omokri to Nigerians
Social Activist, Reno Omokri, has urged Nigerians to convert their dollars into naira. Omokri explained that…
Excitement builds as Ogun hosts international trade fair
Few days to the commencement of the 13th Gateway International Trade Fair, excitement has continues to…
DMO to raise N1.8trn debt via fresh April Savings Bond
The Debt Management Office, DMO, has unveiled plans to raise N1.8 trillion through new issuance and…
Dangote refinery supply of diesel to crash price – IPMAN
The Independent Petroleum Marketers Association of Nigeria, IPMAN, says Dangote Refinery’s commencement of domestic supply of…
Naira appreciation: FX transactions surge with $1bn single-day trade
Turnover at Nigeria’s foreign exchange market surged to the highest in a single day since 2017…
FIRS apologizes over offensive Easter message
The Federal Inland Revenue Service has tendered an apology to the Christian Association of Nigeria and…
Forex: Naira gains N21.85 against dollar
The naira continued its appreciation against the US dollar on Tuesday at both official and parallel…
Dangote Refinery begins supply of diesel, aviation fuel to oil marketers in Nigeria
Dangote Oil Refinery has begun supplying the Nigerian domestic market with petroleum products. The petrol products…
NDIC, EFCC reiterate commitment to combating financial crimes
The Nigeria Deposit Insurance Corporation, NDIC, says it remains committed to ensuring that those who contribute…
Four Nigerian banks delay in filing 2023 financial results
Four commercial banks have said they will delay filing their audited results for 2023. The United…
Epileptic electricity to persist as Nigerian govt announces 11% increase in gas price
The Nigerian government has announced an increase in the wholesale price of gas to power plants…
Epileptic electricity supply: Majority of power plants performing below capacity – NERC
Most power plants in Nigeria perform less than capacity as the nation grapples with an epileptic…
Recapitalization: Jobs losses loom as Nigerian banks battle to escape extinction
There is panic in the Nigerian financial sector over massive job losses as banks battle to…
Fuel subsidy removal reason for Nigeria’s soaring inflation – Study
A study has shown that fuel subsidy removal, not the surge in money supply, is the…
Nigerian Railway Corporation generates N6bn in 2023
The Nigerian Railway Corporation, NRC, generated N6,071 billion in revenue from passenger, cargo transport and other…
Ekiti group drags state govt to court over Cargo Airport records
The Ekiti Patriotic Consultative Forum, a socio-political pressure group, has approached the State High Court for…
Nasarawa will contribute to federation account through Agriculture, Mining – Gov Sule
Governor Abdullahi Sule of Nasarawa State has said his administration’s strategy is to bolster the state’s…
Q1 2024: NGX records 39.8% gains, becomes second best-performing stock in Africa
The Nigerian stock market gained 39.8 per in the first quarter of 2024, becoming the second…
Oil theft: Nigerian Govt mulls crude transport via trucks, barges
The Nigerian federal government plans to adopt trucks and barges to transport crude oil to tackle…
Electricity supply: TCN raises alarm over planned attack on facility
The Transmission Company of Nigeria has raised the alarm about a planned attack on its facility…
Naira appreciated by N660 against dollar since BDCs’ return to FX market – Gwadabe
The President of the Association of Bureaux de Change Operators of Nigeria, ABCON, Aminu Gwadabe, says…
Probe diversion of N20bn intervention fund in Cement Technology Institute – Students tell EFCC
The National Association of Polytechnic Students, NAPS has called on the Nigerian federal government to investigate…
Nigerian govt announces date to commence local vehicle manufacturing
The Nigerian government plans to commence local manufacturing of vehicles in the next ten years. Minister…
Nigeria economy rakes in $1.5bn inflow in days
The Central Bank of Nigeria says Nigeria recorded over $1.5 billion inflow into the economy in…
Nigerians react as FG subsidises Hajj fare with N90bn
Nigerians have faulted President Bola Tinubu’s government for releasing N90 billion to subsidise the 2024 pilgrimage…
CBN removes limit on PAPSS payment services
The Central Bank of Nigeria, CBN, has removed limits placed on trade and payment services transactions…
Manufacturers urge FG to channel palliatives to subsidise local productions
Manufacturers in Nigeria have asked the Federal Government to subside the production industry as a way…
Naira maintains N1,300 exchange rate against USD
The Naira has maintained a N1,300 exchange rate mark against the US Dollar at the close…
Nigeria Sovereign Investment Authority announces 1122% income surge in 2023
The Nigeria Sovereign Investment Authority, managers of the country’s Sovereign Wealth Fund, has announced a 1,122…
Merger looms as CBN raises capital requirements for banks in Nigeria
Bank mergers are imminent as the Central Bank of Nigeria, CBN, has raised minimum capital requirements…
US court sentence crypto king Sam Bankman-Fried to 25 years in prison
A United States entrepreneur and crypto king, Sam Bankman-Fried, has been sentenced to 25 years in…
Cement prices decrease by 26% in Abuja
The price of cement decreased between 22 per cent and 26 per cent for a 50kg…
Healthy food cost surges to N938 daily in Nigeria – NBS
Nigeria’s average healthy diet food cost increased to N938 per day in February from N858 in…
FAAN shuts down KFC outlet at MMIA over discrimination against customer
The Federal Airport Authority in Nigeria, FAAN, has shut down the KFC outlet in Murtala Muhammed…
GTBank Uganda’s transition to Credit Institution aligns with our core strengths in Retail, SME banking – Adeniji
Mr Jubril Adeniji, Managing Director of Guaranty Trust Bank Kenya and Head of East Africa, said…
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…