Some customers of Wema Bank have accused the financial institution of conducting illegal banking practice in Nigeria. They said they discovered that the bank and its...
The Nigerian Electricity Regulatory Commission (NERC) will from July 1, 2022 review electricity tariff, about six months after carrying out a similar exercise. NERC stated its...
The Central Bank of Nigeria (CBN) has set a deadline for Other Financial Institutions (OFIS) to enroll their customers into Credit Risk Management System (CRMS). OFIS...
On Tuesday, the Central Bank of Nigeria (CBN) raised the benchmark interest rate to 13 percent, the first change in over two years. According to the...
Caverton Offshore Support Group, an oil and gas logistics firm, has lost its Chevron contract to Bristow Helicopter, and this is expected to negatively impact its...
Tesla owner, Elon Musk, has expressed the readiness of his internet service company, Starlink, to operate in Africa as the network provider looked to expand beyond...
Bearish sentiment continued to dictate the Nigeria capital market’s activities as another sell-off sent the bourse’s share down by -1.81 percent on Tuesday. Consequently, the equity...
The chairman of Association of Licensed Telecommunications Operators of Nigeria (ALTON), Gbenga Adebayo, has said network subscribers will bear the cost of the new telecoms tax...
Amid lingering forex scarcity, Nigerian banks have instructed their customers looking to buy foreign currency to put in their application 30 days ahead. This is coming...
Stanbic IBTC Chief Executive Officer, Demola Sogunle, has increased his ownership stake in the financial institution, as he continued his share acquisition spree that started last...
For the first time in two years, the Central Bank of Nigeria (CBN) has raised the lending rate for banks to 13 per cent. The Monetary...
Advertisers that violate the Advertising Practitioners Council of Nigeria’s (APCON) requirements, such as those who promote substandard and unverifiable advertising messages, will be punished. Dr Olalekan...
Starting from June 2022, the federal government will charge a five per cent tax for every airtime purchased by Nigerians. This is in addition to one...
The Nigerian stock market extended its loss into this week with a -0.12 percent crash in equity capitalization on Monday. Consequently, the equity capitalization dropped by...
Nigeria’s Gross Domestic Product (GDP) increased by 3.11 per cent in the first quarter of 2022, according to figures from the National Bureau of Statistics’ (NBS)...
As trading resumes this week in the Nigerian bourse, Seplat, McNichols and Multiverse are some of the stocks that investors should watch out for. Ripples Nigeria...
MTN Nigeria lost its position as the most valuable firm in the Nigerian capital market to telecoms rival, Airtel, as shareholders investment in the firm led...
Amid the lingering forex scarcity and dwindling external reserves, the Central Bank of Nigeria (CBN) has assured that there is enough in the nation’s reserve to...
The Central Bank of Nigeria (CBN) has dismissed report on planned replacement of Naira notes with the country’s digital currency, eNaira. Reports emerged at the weekend...
Investors at the Nigerian capital market traded 3.021 billion shares valued at N31.7 billion in 29,153 deals last week. These, however, fell short of 1.816 billion...
The Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is drafting six regulations on midstream and downstream operations to bring clarity, improve business processes...
The Central Bank of Nigeria (CBN) has come out to disown the news that it plans to replace the naira notes in circulation with digital currency....
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market to the...
Tesla owner, Elon Musk, has suggested that the value of his Twitter deal would cost less than previously agreed. Ripples Nigeria had previously reported that Musk...
Investors at the Nigerian capital market lost N159.3 billion on Friday following the crash in the equity capitalization by-0.55% at the close of the day’s business....
McNichols Consolidated majority shareholder, Ijeoma Chimaraoke, is still in the capital market selling off her shares, as she continues to take out her investment in the...
Access Holdings has agreed to acquire First Guarantee Pension Limited (FGPL) after selling its pension business, Access Pension Fund Custodian Limited, to First Bank of Nigeria...
The Central Bank of Nigeria (CBN) has lamented that the majority of farmers who benefited from the Anchor Borrowers’ Programme (ABP) have not repaid the loans....
Seplat Energy’s attempt to acquire Mobil Producing Nigeria Unlimited (MPNU) from ExxonMobil, has hit a roadblock after the Federal Government withheld approval for the deal. In...
The Nigerian capital market recovered from its previous day’s losses following a 1.05% rise in share value at the close of trading on Thursday. After eight...
The electronic valuation policy suspended by the Nigeria Customs Service (NCS) would be reintroduced on Friday, despite protest against the policy which was claimed would increase...
Seplat Energy Plc has made changes in its board, appointing former Shell Country Chairman, Basil Omiyi, as the firm’s chairman, while Charles Okeahalam was made a...
In February, South African businessman, Johann Rupert, seemed like the billionaire that would dispose Aliko Dangote from his 12 years reign as the richest man in...
An agreement to establish an African energy bank has been reached by African Export-Import Bank (Afreximbank) and the African Petroleum Producers Organisation (APPO). The energy bank...
The Central Bank of Nigeria (CBN) has directed commercial banks, and Fintech companies not to share customers’ data without their consent. The apex bank stated this...
The European Union plans to spend €210 billion to cut its dependence on Russian oil, coal and gas, as Ukraine allies move to weaken Russia’s financial...
First Bank subsidiary, First Pension Custodian Nigeria Limited, has acquired Access Pension Fund Custodian Limited for an undisclosed amount. Access Pension Fund is wholly owned by...
The Nigerian capital market extended its bearish run on Wednesday following the crash in equity capitalization by 0.06 percent at the close of the day’s trading....
Billionaire investor, Elon Musk, has issued a warning to Twitter over actual number of users with active accounts on the social networking site, as completion of...
For the first time in nine months, Nigeria’s foreign reserves have dropped below $39 billion as Nigeria fails to take advantage of high oil prices. Ripples...
Ijeoma Chimaraoke, the largest shareholder in McNichols Consolidated, has been selling off her shares in the company, engaging in about seven share dealings to take out...
Dangote Cement generated N105.9 billion in profit after tax for first quarter of 2022 across its African market, rising by 18% year-on-year, after selling a total...
The Organisation of Petroleum Exporting Countries (OPEC) has put Nigeria’s oil production output at 1.32 million barrels per day, bpd, for April 2022. OPEC revealed this...
Hadi Sirika, the Minister of Aviation, has said the country’s shortage of jet A1 and high cost will persist till the Dangote and Port Harcourt refineries...
Access Holdings Plc has warned its customers and the public that it won’t take responsibility for losses suffered from dealings with investment firm, Access Capital Investment....
The value of shares in the Nigerian capital market dipped by -0.35 percent on Tuesday, dragging the equity capitalisation down by N101.06 billion. After eight hours...
Aero Contractors has denied reports that the airline operator is planning to cut down its workforce and shutdown business operation, stating that the claims are “wild...
