Business
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Nigeria’s Forex Inflow Fell 43% in May
Foreign exchange (forex) inflows into the Nigerian economy fell by 43.2 per cent to $5.52 billion in May 2020, the...
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Profit-taking drags stock indices further by N38 billion
Profit-taking continued to take a toll on the equities sector of the Nigerian Stock Exchange (NSE), extending negative sentiment to...
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Chams Launches Pensioner Identity Mobile Solution
As part of efforts to boost earnings and deliver value to all stakeholders, Chams Plc has launched a new innovative...
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Buhari orders quick release of N2.3tr stimulus funds
PRESIDENT Muhammadu Buhari on Tuesday ordered the “speedy and timely released” of the N2.3 trillion Economic Sustainability Package to “cushion...
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Foreign exchange inflows fell to $5.52bn in May
Foreign exchange inflows into the country fell to $5.52bn in May, the latest figures from the Central Bank of Nigeria...
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‘Our refinery’ll meet demand for black oil’
The Edo Modular Refinery operated by Edo Refinery and Petrochemical Company Limited is expected to meet 100 per cent of...
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5,180 BDCs get $51.8m on forex sales resumption
About 5,180 Bureau De Change operators got $10,000 each as the Central Bank of Nigeria fully resumed foreign exchange sales...
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Food insecurity prevalent in Lagos, Kano, Rivers, Abuja –NBS
The outbreak of COVID-19 has increased food insecurity in Lagos, Kano, Rivers and Abuja, the National Bureau of Statistics has...
Read moreInvestors of 7 firms earn N111bn dividend in H1 operations
Seven companies will pay N111.4 billion as interim dividend to their shareholders following their audited accounts for operations in the...
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FG increases efforts to grow insurance premium to N1 trillion
Nigeria’s insururance industry is going through a transformation with the National Insurance Commission (NAICOM), and major players strategizing to take...
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Hyundai recalls 52,000 SUVs
Koreanautomakers Hyundai and Kia are recalling over 600,000 vehicles in the United States and Canada to fix a brake fluid...
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Naira set to gain as CBN resumes forex sales
The resumption of forex sales to the Bureau De Change operators by the Central Bank of Nigeria on Monday (today)...
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CBN Moves against Banks, Gaming Companies over Unauthorised FX Transfers
•Places over 38 firms on PND •To penalise management of banks •Increases target credit facility to N100bn The Central...
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Fed Govt set to replace Vision 20:2020
President Muhammadu Buhari has directed the preparation of new development plans for the country as Vision 20:2020 and the Economic...
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Zenith Bank posts N103.8 billion half-year PAT
Zenith Bank Plc has announced N103.8 billion Profit After Tax (PAT) in its audited results for the half-year ended June...
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Oil servicing firms may go bankrupt, says report
With the crude oil market likely to remain depressed for the rest of 2020, some oil servicing companies in Nigeria...
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Bellwethers buoy stock market N27 billion gains
Transactions on the Nigerian Stock Exchange (NSE) sustained a rising profile yesterday, as more blue-chip stocks, especially UACN, and Linkage...
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Outrage as depot price hike may push petrol to N160
Small businesses will be hard hit, manufacturers warn Nigerians are being taken for granted by this govt – NLC The...
Read moreStock market advances with N24bn gain
The equities market, on Wednesday, extended its rally by N24bn following gains recorded by some blue-chip firms. The key performance...
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Naira rebounds, exchanges for 420/$, speculators count losses
The naira exchanged to the dollar at the parallel market at N420/$ on Wednesday, following the interventions made by the...
Read moreCBN announces increase in ACGSF share capital to N50b
The Central Bank of Nigeria (CBN), has announced that the Agricultural Credit Guarantee Scheme Fund (ACGSF) Amendment Act assented to...
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GTBank, Stanbic IBTC Announce N135bn Half-year Profit
Guaranty Trust Bank (GTBank) Plc and Stanbic IBTC Holdings Plc yesterday announced their respective audited half year results for the...
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Nigerians kick as DisCos hike electricity tariff
Nigerians are outraged over Monday’s 50 percent unceremonious hike in the price of electricity, saying it is an additional burden...
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‘Accumulation of raw material inventories fuelled by forex scarcity’
With the Central Bank of Nigeria (CBN) deploying several measures to curb abuses in the foreign exchange (forex) market and...
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BUA Group, Axens seal 200,000bpd refinery, petrochemical deal
BUA Group, one of Africa’s leading Foods, Mining, & Infrastructure conglomerates, yesterday signed an agreement with Axens of France for...
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