The last has not been heard of the controversies surrounding the 2011 deal for lucrative Nigerian oil bloc, Oil Prospecting Lease (OPL) 245 popularly called the...
The Federal Government spent $1.12 billion on foreign debt service payments in the first quarter of 2024. This brought to the fore the growing burden of...
Tunde Hassan-Odukale has stepped down as the Chairman of First Bank of Nigeria Limited paving the way for the appointment of Mr Ebenezer Olufowose, a Non-Executive...
The Corporate Affairs Commission (CAC) has directed banks in the country to ensure compliance with the Central Bank of Nigeria (CBN)’s order on compulsory registration of...
In a move aimed at stimulating the oil industry, the Nigerian government, under the leadership of the Minister of State for Petroleum Resources, Mr. Heineken Lokpobiri,...
Going by directives from the Central Bank of Nigeria (CBN) based on the cybersecurity levy, for PoS operators to register their agents, merchants, and individuals, it...
The Naira traded for N1,421.06 to the dollar at the official market on Wednesday. Data from the official trading platform of the FMDQ Exchange, which oversees...
The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, said on Wednesday the bid round for the 17 oil blocs in the country are for...
Corporate taxes and royalties’ remitted by Shell Nigeria declined by $27m in 2023. This is according to figures announced by the company in its published 2023...
Investors in the Nigerian equities market lost N268 billion at the close of trading on Tuesday. This followed the decline in the share prices of Unity...
As Nigerians continue to groan under excruciating fuel scarcity, the Nigerian National Petroleum Company (NNPC) Limited has said panic buying is responsible for the situation. The...
Following the detention of two executives of crypto platform, Binance, by the Nigerian government, Richard Teng, the Chief Executive Officer (CEO) of the platform has raised...
In a bid to protect the businesses of Fintech’s customers and strengthening the economy, the Central Bank Of Nigeria (CBN) has issued a July 7, 2024...
Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 the Central Bank of Nigeria (CBN) has ordered deposit money banks in the country...
By: Babajide Okeowo Investors in the Nigerian equities market started the trading week with a loss of N499bn. This follows the tumble in the share prices...
In its continued crackdown against cryptocurrency platforms and a bid to checkmate the manipulation of the local currency value in the foreign exchange market, the Securities...
The planned increase in tariff of telecommunications companies in Nigeria has received the backing of the Chief Executive Officer of Financial Derivatives Company Limited, Mr. Bismarck...
The Ikeja Electricity Distribution Company (IKEDC) has reduced the electricity tariff payable by its Band A customers to N206.80 per kilowatt-hour. The Nigerian Electricity Regulatory Commission...
Investors in the Nigerian capital market are currently experiencing a boom after a run of bearish sentiment. At the end of trading on Friday May 3,...
The Central Bank of Nigeria (CBN) has said that banks loans to the private sector and the government declined by N24t trillion in March this year....
Global credit rating agency, Fitch Ratings has projected that the Central Bank of Nigeria (CBN) would further raise interest rates in the second half of the...
FCMB Group Plc has announced its first-quarter 2024 financial results, with profit before tax rising 192.6% Year-on-Year to N31.3 billion compared to N10.7 billion in the...
The Federal Competition and Consumer Protection Commission (FCCPC), says it will begin the process of blocking loan apps that harass their customers. Acting Chairman of the...
In a move aligning with the Central Bank of Nigeria’s (CBN) recent stance, several fintech companies have issued warnings to their customers regarding cryptocurrency trading. These...
Being a property owner in Nigeria is a big accomplishment and a wise investment. But managing the complexity of property ownership necessitates a thorough comprehension of...
In a vote of confidence for recent economic policies, global rating agency Fitch has revised Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (IDR) outlook to “Positive” from...
The Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, said on Friday the International Oil Companies (IOCs) have proposed the divestment of...
The Naira traded at N1,400.40 to a dollar at the official market on Friday. Data from the FMDQ Exchange revealed that the Naira gained N2.27, representing...
For the second time this month, the Nigeria Customs Service (NCS) has adjusted the foreign exchange (FX) rate for import duties, this time, to N1,441/$1. This...
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has blamed the rising food inflation on the purchase of foodstuffs as palliatives by the...
The Nigerian Electricity Regulatory Commission (NERC) has unbundled the Transmission Company of Nigeria (TCN) and ordered it to transfer all market and system operation functions to...
Investors in the Nigerian equities market closed the trading week with a profit of N466 billion on Friday. This followed the growth in the share price...
In a bid to boost its revenue, the federal government has announced that plans are in the pipeline to review rates of mining licenses and other...
The Kaduna State Internal Revenue Service (KADIRS) on Thursday sealed six telecommunication masts across the state’s metropolis over outstanding taxes totalling N5.8 billion. The Secretary of...
Dangote Sugar Refinery Plc (DSR) has unveiled plans to produce 700,000 metric tonnes of refined sugar from locally grown sugarcane in the next four years, through...
The Federal Government has promised stringent measures for gas companies seeking gas distribution licences in the country. The Minister of State for Petroleum Resources (Gas), Ekperikpe...
Investors in the Nigerian equities market went home with N303 billion after the bourse resumed from the Workers Day holiday on Thursday. The Federal Government declared...
The Nigeria Deposit Insurance Corporation (NDIC) has increased the maximum deposit insurance coverage levels across various banking sectors. For Deposit Money Banks (DMBs), the maximum deposit...
The Center for Promotion of Private Enterprises (CPPE) has decried the volatility and frequent movement of the Nigeria Customs Service (NCS) duty exchange rates. The Service...
The shareholders’ associations in Nigeria have declared their support for plans by Nigerian Breweries Plc to raise N600 billion through Rights Issues. This followed the foreign...
For the umpteenth time, the Nigeria Customs Service (NCS) has adjusted the foreign exchange rate for import duties to N1,373.64 per dollar. This represents a 19.4...
For the year ended December 31, 2023, FCMB Group Plc recorded a profit before tax of ₦104.4 billion, a 186% year-on-year (YoY) increase compared to ₦36.6...
Nigeria’s tax collection system faces scrutiny after the Speaker of the House of Representatives, Tajudeen Abbas, declared the country had the lowest Value Added Tax (VAT)...
Nigeria’s domestic refining landscape is set for a significant shift with the imminent issuance of a full operating license to the Dangote Petroleum Refinery. This was...
Investors in the Nigerian equities market went home with N195 billion at the close of trading on Tuesday. This followed a boom in the share prices...
The Nigerian National Petroleum Company Limted (NNPCL) has assured Nigerians that the ongoing fuel scarcity and queues will be cleared out by Wednesday. The company’s Chief...
While Nigerians are still groaning over the current fuel scarcity, things are set to get even worse as the Independent Petroleum Marketers Association of Nigeria (IPMAN),...