The Central Bank of Nigeria (CBN) has prohibited banks and fintech companies from engaging in international money transfer services. This directive, outlined in the revised guidelines for International Money Transfer Operators (IMTOs),... Read more »
The naira yesterday crashed to a record low of N1,370 /$ at the parallel market, inching closer to N1,400/$ rate. The depreciation of the local currency was mainly as a result of... Read more »
The Nigerian Exchange (NGX) has started the delisting process for the removal of the shares of GlaxoSmithKline Consumer Nigeria (GSK Nigeria) Plc from the stock market. A regulatory document obtained yesterday indicated... Read more »
Dangote Cement Plc shares has become the first Nigerian company to reach a market cap of N10.095 trillion as its stock experienced an 85.2 percent increase in 2024. This surge follows billionaire... Read more »
Unilever Nigeria, the local unit of British multinational consumer goods company Unilever Plc revealed this in its unaudited interim financial statements for the year ended December 31, 2023, published on the Nigerian... Read more »
Dangote Petroleum Refinery commences production of diesel and aviation fuel, no petrol yet – Spokesman There was no petrol yet as the Dangote Refinery began the production of diesel and aviation fuel... Read more »
CBN Appoints New Executives for Union Bank, Keystone Bank, and Polaris Bank Yetunde Oni (Union) is MD/CEO Standard Chartered Sierra Leone; Hassan Imam (Keystone) is an ED at Fidelity Bank; and Omokayode... Read more »
The Special Investigator probing the Central Bank of Nigeria, Jim Obazee, has summoned the Chairman of Titan Trust Bank (TTB), Tunde Lemo, and two other shareholders of the bank to a “follow-up... Read more »
One of Nigeria’s leading airlines, Air Peace, said it was set to resume direct flight connectivity to Guangzhou-China on Dec. 28. This is contained in a statement issued by the spokesman of... Read more »
The Central Bank of Nigeria (CBN) has threatened to sanction banks and Point of Sales (POS) operators found to be complicit in the current Naira scarcity crisis. The apex bank, in a statement... Read more »
Delta State Government, Nigerian National Petroleum Company Limited and UTM Offshore Limited, on Tuesday, signed a shareholders agreement for the development of the first Floating Liquefied Natural Gas in Nigeria. This was... Read more »
On Sunday, Lagos State Governor Babajide Sanwo-Olu introduced a palliative program, the Lagos Market Trader Money, aimed at assisting low-income traders. The governor made this announcement while inaugurating a middle-level Fresh Food Agro Hub... Read more »
The Chartered Institute of Taxation of Nigeria (CITN), has said the government’s drive to increase tax to GDP ratio from 10.86 to 18 per cent is a step in the right direction.... Read more »
The Managing Director and Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan, has said that the corporation supports the Central Bank of Nigeria’s (CBN) efforts to strengthen the... Read more »
From 27.33 percent in October 2023, Nigeria’s headline inflation rate rose to 28.20 percent in November 2023. The National Bureau of Statistics disclosed this in its November consumer price index report. The figure... Read more »
Yesterday, Wednesday, December 13, the naira depreciated to N1,260 per dollar in the parallel market from N1,220 per dollar on Tuesday. Similarly, the naira depreciated to N904.65 per dollar in the official Nigerian... Read more »
The Independent Petroleum Marketers Association of Nigeria has said the non-functional state of the Port Harcourt Refinery has pushed many marketers out of business. The body said this during the Port Harcourt... Read more »
The Central Bank of Nigeria (CBN) has again assured members of the public that it was addressing the reported cases of cash scarcity in some major cities across the country. The apex... Read more »
The Central Bank of Nigeria, CBN, has announced a stop to new loan applications under its development finance intervention funds scheme. The suspension signals a dramatic shift in the central bank’s stance... Read more »
The Central Bank of Nigeria, CBN, has suspended charges on cash deposits above the regulatory limits of N500,000 for individuals and N3,000,000 for corporate account holders. The new directive is coming against... Read more »