President Muhammadu Buhari has approved the release of 5,000 metric tons of maize from the National Strategic Grains Reserve to support the Poultry Association of Nigeria...
The Nigerian Customs Service (NCS) has confirmed that four firms have been issued emergency approval by the Central Bank of Nigeria (CBN) to import 262,000 tons...
Pension Fund Administrators (PFAs) that refuse to approve annuity for retirees who collect pensions through them under the Programmed Withdrawal will henceforth be penalised, the National...
The Nigerian National Petroleum Corporation (NNPC) Thursday night declared it had secured a prepayment funding of around $1 billion to boost the upstream operations of its...
The Nigerian bourse closed Thursday’s trade on a positive note, advancing by N26.621 billion and sustaining the current bull run. Gains garnered by the likes of...
Oil prices fell further on Thursday, dropping by 2% to their lowest points since early August, as anxieties about weaker U.S. gasoline demand and a...
Guaranty Trust Bank (GTB) Wednesday said its half-year 2020 profit stood at N94.271 billion, 5% weaker than the figure it reported in the same period of last...
Dutch brewing company, Heineken N.V., has upped its majority stake in Nigerian Breweries Plc, Nigeria’s biggest brewer. As of 30th June 2020, according to Nigerian Breweries half-year...
The naira continued its rally against the United States dollar on Wednesday, exchanging at N420 per dollar as the central bank’s interventions in the currency market...
Nigeria is nursing the hope of having 50 mines in operation by 2023 and can make up for lost time because of the weight of the...
The Central Bank of Nigeria (CBN) sold foreign exchange worth $50 million on the spot and forward markets in what the regulator called a test trade...
Nigerian government’s borrowings derive from perennial budget deficits, the debt office said on Wednesday. Patience Oniha, the Director-General of the Debt Management Office (DMO) made the...
The Nigerian bourse posted further gain on Wednesday with market capitalisation rising by N23.892 billion on the back of buy pressure particularly in the shares of...
Oil climbed to $46 per barrel on Wednesday, advancing for a third day, backed by a report that U.S. crude stockpiles fell and as surveys reflecting...
United Bank for Africa (UBA) Tuesday announced its profit for half-year 2020 crumbled by 21.7% compared to the same period of 2019. According to its Interim...
Nigeria’s total trade value plunged by 27.30% in the second quarter of this year, compared to the first quarter, and by 27.46% when set beside the...
The pump price of gasoline should be about N155 per litre, the Chairman of the Major Oil Marketers Association of Nigeria, Adetunji Oyebanji said on Tuesday....
The equity section of the Nigerian Stock Exchange (NSE) sustained its bull run on Tuesday, adding N45.296 billion on the back of gains in some bank...
The Nigerian Stock Exchange (NSE) has barred six quoted companies — Medview Airlines Plc, FTN Cocoa Plc, Union Dicon Salt Plc, Niger Insurance Plc, Capital Oil...
South Africa’s Shoprite Checkers (PTY) Limited Tuesday filed an application requesting the discharge of the mareva injunction preventing it from transferring its assets. Funke Adekoya (SAN),...
The Nigerian Electricity Regulatory Commission (NERC) has approved the implementation of the new electricity tariff effective from September 1 (today). The NERC announced the hike in...
Nigeria’s Akinwunmi Adesina was Tuesday sworn into office for a second term as the eighth President of African Development Bank (AfDB), following his re-election last week. The ceremony,...
Naira appreciated substantially on the parallel market on Tuesday, rising by 9.65% to N435 against the United States dollar, traders said, citing the Central Bank of...
BUA Group has sealed a pact with France’s largest hydrocarbons group, Axens, for a multi-billion dollar refinery, with the capacity to refine 200,000 barrels per day (bpd),...
Nigeria intends to become a net exporter of gasoline and other petroleum products by 2022 as oil refinery projects spring up around the country, the Department...
Dangote Cement Plc has launched its Series 17 and 18 commercial paper in an effort to raise N50 billion under its N150 billion CP Issuance Programme....
Oil prices advanced on Tuesday, neutralising overnight losses, as investors moved into risk assets and kept a distance from the safe-haven United States dollar, which touched...
Naira appreciated against the United States Dollar on the parallel market on Monday, having stagnated at N477 against the greenback for some days. The local currency...
Nigeria’s annual spending on importation of metals currently stands at $3.3 billion, the Minister of Mines and Steel Development. Olamilekan Adegbite, disclosed on Monday. He made...
The Nigerian government has upped share capital of the Agricultural Credit Guarantee Scheme Fund (ACGSF) from N3 billion to N50 billion, the Central Bank of Nigeria...
The Central Bank of Nigeria (CBN) has directed deposit money banks to review the interest payable on savings deposits downward to a minimum of 10 per...
The equity segment of the Nigerian Stock Exchange (NSE) sustained its positive momentum on Monday as it rose by N9.263 billion, driven by some Oil &...
The Nigerian National Petroleum Corporation (NNPC) posted a N5.34 billion ($14 million) cost for fuel in June, months after it changed its pricing method in order...
Oil prices climbed on Monday, with Brent crude hitting its five-month high, underpinned by global stimulus measures and a 30% cut in Abu Dhabi’s crude supplies...
The Nigerian bourse posted gains Monday, Tuesday, Wednesday and Friday but recorded a loss on Thursday, with the corporate actions, developments and some technical factors during...
Nigeria’s foreign reserves increased by $70 million from $35.59 billion to $35.66 billion in the one week period between 20th and 27th August, data from the...
The total assets of the Asset Management Company of Nigeria (AMCON) currently stand at N136.73 billion, its Managing Director/Chief Executive Officer, Ahmed Kuru, said on Sunday....
Hello, and welcome to Business Roundup this week. Here, we bring you highlights of events that happened during the week -from the capital market, mainstream business activities...
The equity section of the Nigerian Stock Exchange (NSE) posted gains on Monday, Tuesday, Wednesday and Friday but recorded a loss on Thursday day, resulting in...
The naira depreciated by 1.3% against the United States dollar on the official market on Friday, one day after the Central Bank of Nigeria (CBN) announced...
The Pension Transitional Arrangement Directorate (PTAD) said it would expunge 21,227 unverified parastatal pensioners currently on the directorate’s payroll and who had not shown up for...
The equity segment of the Nigerian Stock Exchange rallied on Wednesday as buy pressure on blue-chip stocks led by CAP, GTB and Access Bank drove recovery....
The total value of inflow of foreign capital into the Nigerian economy in the second quarter of this year crumbled by 77.88% relative to the first...
The Central Bank of Nigeria (CBN) has barred parent companies or any other associated entities of Payment Service Banks (PSBs) from providing preferential treatment, which nullifies...
The Central Bank of Nigeria (CBN) is trying to compel non-oil exporters to process dollar proceeds through local lenders to improve dollar liquidity and shore up...
The seven-day bull run on the equity segment of the Nigerian Stock Exchange (NSE) ended on Thursday after investors took profit in some blue-chip industrial and...
The Director-General of the Budget Office, Ben Akabueze, said on Thursday Nigeria may slip into another recession in the third quarter due to ravaging effects of...
The Central Bank of Nigeria (CBN) will restart sales of foreign exchange to bureau de change on 31st August ahead of resumption of international flights, according to...
Nigerian refineries processed nearly no crude in 13 months, the latest data published by the Nigerian National Petroleum Corporation (NNPC) showed on Thursday. Within that time,...
Oil prices were broadly steady on Thursday as a sweeping hurricane in the Gulf of Mexico made a landfall in the heart of the U.S. oil...
