Visa has become the latest payment company to accept cryptocurrency, as the firm made its first cryptocurrency transaction this month. The incorporation of crypto into its...
First City Monument Bank (FCMB) non-performing loans rose in 2020 when compared to what the lender recorded during the corresponding period of 2019. The creditor’s bad...
Consumers in the country increased debt owed to Electricity Distribution Companies (DisCos) by 18.38 percent in 2020, data from Nigerian Electricity Regulatory Commission financial report has...
The Securities and Exchange Commission (SEC) has set N50 million as minimum paid up capital for Warehousing and Collateral Management companies in the country. A statement...
The Minister of Mines and Steel Development, Olamilekan Adegbite, said on Sunday Small and Medium Enterprises (SMEs) would soon be allowed to obtain a loan with...
The Founder of Stanbic IBTC, Atedo Peterside, has faulted the Nigerian National Petroleum Corporation (NNPC)’s insistence on the rehabilitation of the Port Harcourt refinery with $1.5...
Foreign investors’ appetite for Nigerian equities increased in February 2021, despite fears over dollars scarcity. Details of domestic and foreign portfolio participation in equity trading obtained...
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 mainstream...
The Nigerian National Petroleum Corporation (NNPC) says it recorded 18 percent increase in pipeline vandalism across the country in December. This is contained in the 53rd...
This week at the stock exchange, investors traded a total turnover of 1.530 billion shares worth N21.311 billion in 20,016 deals, against the previous week’s 2.342...
The foreign exchange market closed the week with Naira gaining marginally by 0.031 percent after exchanging with the dollar at N410.05 on Friday compared to N410.13...
The Nigerian stock market slipped back to bears’ territory on Friday after the bourse failed to maintain its bullish run. The market’s equity capitalization dropped from...
The Nigerian National Petroleum Corporation (NNPC) has revealed that it will maintain the current ex-depot price of Premium Motor Spirit, also known as petrol, until the...
Nigerians have had to budget more to purchase food items against the backdrop of dwindling income, highlighting the pressure facing households, the National Bureau of Statistics...
Nigeria’s exports to key markets in Africa fell to it’s lowest level in three years in 2020. Data obtained from the National Bureau of Statistics (NBS)...
Nigerian may soon find it difficult to purchase wheat, as the importation of the product will soon be reduced by the Central Bank of Nigeria (CBN)....
Despite increase in dollar supply, the Nigerian Naira grew weaker against the US dollar on Thursday. After trading on Thursday, the foreign exchange market closed with...
On Friday morning oil price rose by 1 percent after dropping 3.8 percent on Thursday after observers predicted it will take weeks to remove the giant...
Dangote Cement is planning to raise funds for its operations. The Nigerian company will raise the debt through bond issuance at the capital market, a statement...
The Minister of State for Petroleum, Timpreye Sylva, blamed fuel subsidy for the poor state of Nigeria’s refineries. He made this comment while defending the plan...
The positive trend in the Nigerian Stock Exchange continued on Thursday with equity capitalisation rising from N20.44 trillion to N20.55 trillion at the close of trading....
The Nigerian National Petroleum Corporation (NNPC) recorded ₦24.19billion trading surplus in December 2020. The figure, according the Corporation’s Monthly Financial and Operation Report for December 2020...
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Melee Kyari, said on Thursday the corporation pays N120 billion monthly to subsidise Premium Motor...
Nigeria’s downstream petroleum sector price regulator, the Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that Nigeria’s domestic stock of petrol has dropped by 5.45 percent....
Stanbic IBTC recorded a lower fourth quarter revenue last year when compared to the corresponding period of 2019. The lender, however, managed to grow its revenue...
The United States government is set to make its second bitcoin sales in a month, as it plans to sell off 6.79 bitcoin worth about $353,000...
Nigeria’s currency on Wednesday appreciated by 0.26 percent stronger than the dollar at the Investors and Exporters (I&E) forex window according to data from FMDQ Security...
Oil pulled back Wednesday’s gain in the early hours of Thursday as the dust settled over concerns that a grounded ship blocking passage in the Suez...
Air Peace and the Nigeria Customs Service (NCS) are at loggerheads over collection of import duties. Air Peace said the NCS is acting against the federal...
Securities and Exchange Commission (SEC) has been told it has no authority in non-capital matters as Oando’s director, Yakubu Gumel, obtained a court order nullifying the...
The Nigerian Stock Exchange (NSE) closed trading on Wednesday with the equity capitalization standing at N20.44 trillion. This was more than the N20.25 trillion recorded at...
The African Export-Import Bank (Afreximbank) and the Nigeria Export-Import Bank (NEXIM) have expressed readiness to mobilise $50 million as Joint Project Preparation Fund for investments in...
Transportation in Nigeria by road within and between states, experienced an increase in prices in February 2021. According to the transport fare watch for February 2021...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday expressed concern at the rising inflation in the country. The inflation increased...
Dangote Cement has offered N16 dividend to its shareholders after recording N1.03 trillion revenue last year. The company disclosed this in 2020 financial statements released on...
Crude oil has crashed to just above $60 per barrel as it struggles to find its feet again. Brent, against which Nigeria’s crude oil is priced,...
Naira gained marginally against the United States Dollar on Tuesday to close at N409.80/$1, data posted on the FMDQ Securities Exchange showed. This represents a N0.33...
The Governor of the Central Bank of Nigeria, Godwin Emefiele, has assured Nigerians and investors that the apex bank has enough foreign exchange to meet demands....
Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has denied reports that the Nigerian government was operating a flexible exchange rate, and only recognises...
The stock market slumped on Tuesday, just a day after closing on a high. It ended trading with equity capitalisation declining to N20.250 trillion from the...
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN), has voted to retain the Monetary Policy Rate (MPR) at 11.5 percent, the same...
The international credit rating agency, Fitch on Monday projected that Nigeria’s debt to revenue ratio will get worse in 2022. The firm said debt will rise...
Twitter founder, Jack Dorsey, on Monday, sold his first tweet in an auction to a Malaysia-based for $2.9 million. The tweet is in the form of...
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, said on Monday the Bank of Industry (BoI) has secured a $1 billion syndicated loan to...
Nigerian National Petroleum Corporation (NNPC) said on Monday the condition given by Afreximbank for $1 billion loan will ensure the Port Harcourt refinery remains operational for...
The Federal Government on Monday announced another currency reform as Naira falls across foreign exchange markets in the country. The Minister of Finance, Budget and National...
The International Breweries has canceled dividends for its shareholders for last year after the company’s profit declined during the period. However, its revenue increased to N136.79...
Confidence was high during trading on Monday as investors’ participation pushed the Nigerian Stock Exchange (NSE) equity capitalisation upward to N20.259 trillion at the close of...
The five-time Ballon D’Or winner, Cristiano Ronaldo, became the first footballer to be paid with cryptocurrency when his Italian Serie A side, Juventus gave him 770...
The Central Bank of Nigeria (CBN) has withdrawn the operating licenses of 11 International Money Transfer Operators (IMTOs) in the country’s foreign exchange market. In the...