The first quarter of 2021 was a disastrous period for Ikeja Hotel, as the company suffered a significant loss in operations, while its revenue for the...
The Governor of the Central Bank of Nigeria, Godwin Emefiele has sacked all directors of First Bank of Nigeria and First Bank of Nigeria Holdings. The...
Former Coca-Cola Nigeria head, Olusegun Ogunsanya, has been appointed Managing Director of Airtel Africa to replace Raghunath Mandava. Mandava had informed the board of Airtel Africa...
The federal government has given Dangote Cement permission to reduce its tax by N22.32 billion for helping in the construction of some road infrastructure. The Federal...
The Central Bank of Nigeria (CBN) has described First Bank of Nigeria’s new board appointments which includes Gbenga Shobo as Managing Director and Chief Executive Officer...
Nigeria’s Naira gained slightly against the U.S. dollar at the official exchange market on Wednesday. This is as Nigeria’s external reserves dropped by $15.9 million in...
The World Bank Wednesday listed Nigeria and six other countries as leaders in gas flaring in the world The World Bank in its gas flaring satellite...
Investors in Nigeria’s stock market lost N274.23 billion on Wednesday after the equity capitalisation crashed to N20.29 trillion at the close of business on the floor...
Non-performing loans have increased as commercial banks continue to increase credit in the economy due to the loan-to-deposit policy of the Central Bank of Nigeria (CBN)....
The House of Representatives has directed the Central Bank of Nigeria (CBN) to suspend the recapitalisation of Microfinance Banks (MFBs) with immediate effect. This followed the...
The federal executive council (FEC) has approved the establishment of the Nigerian investment and growth fund (NIG-Fund) which will be structured like a private equity fund...
The Organisation of Petroleum Exporting Countries (OPEC) is set to boost production level amid increasing cases of COVID-19 which threatens the recovery of oil price which...
The Board of Directors of First Bank of Nigeria Limited has approved the appointment of Mr. Gbenga Shobo as its Managing Director and Chief Executive Officer...
The Federal Government of Nigeria has revealed that the country in January 2021 recorded N366.53 billion oil revenue. This is a 24.1 percent rise from the...
A member of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) Adeola Adenikinju, has revealed why the apex bank has resisted being...
Naira closed trading significantly weaker to the dollar at the official market on Tuesday. Data from the FMDQ Security Exchange showed the Naira closed at N411.67...
Investors lost N6.83 billion during trading on the floor of the Nigerian Stock Exchange on Tuesday, ending six consecutive days of positive run at the bourse....
Ecobank froze loan approval to some sectors in the first quarter of 2021 and also reduced loans approved to banks during the same period after the...
Wema Bank was unable to escape the impact of COVID-19 on its earnings as the bank suffered revenue loss last year, a financial statements released for...
The first quarter of 2021 didn’t augur well for Guaranty Trust Bank, as the financial company reported declining earnings amid winding down of Segun Agbaje’s tenure...
Nigeria’s naira remained unchanged against the U.S. dollar at the unofficial market and official markets on Monday. Naira again closed at N485 at the black market,...
Investors in the Nigerian Stock Exchange (NSE) gained over N100 billion on Monday as the bourse bullish run extended to another week. At the close of...
Kansas City Chiefs’ player, Sean Culkin, will become the first footballer to receive his salaries in Bitcoin following an agreement with Strike by Zap to convert...
The Federal Government has banned the importation of refined sugar and its derivatives from the country’s Free Trade Zones (FTZs). The development followed a confrontation between...
The Central Bank of Nigeria (CBN) has released an updated list of International Money Transfer Operators licensed to operate in the country. The list titled ‘updated...
The Nigerian Electricity Regulatory Commission (NERC) has said it was considering the Extraordinary Tariff Review process for the 11 Electricity Distribution Companies (DisCos), noting that the...
Nigeria is looking for financial and legal advisers, trustee s and issuing firms to organise its Sukuk bond in the domestic debt market for 2021, the...
In the past few days, Bitcoin has been trading below $50,000, sending a shockwave among small holders. The dip in bitcoin price has triggered the sell...
The Federal Government on Sunday slammed evidence contained in a report by the World Bank on distribution of electricity in Nigeria. Ripples Nigeria had reported that...
Despite the challenging economic environment, Nigerians carried out a total volume of 3,464,811,083 transactions valued at N356.47 trillion through Electronic Payment Channels in the last three...
The Nigerian banking industry recorded a N166.29 billion or 15.69 percent increase in non-performing loans in 2020. The National Bureau of Statistics disclosed this in its...
Despite the Central Bank of Nigeria (CBN) warning against mass retrenchment, the banking sector in 2020 laid off 8,584 employees. The layoff occurred in commercial banks;...
The Nigerian National Petroleum Corporation (NNPC) has revealed that a total of N101.69 billion was spent on overhead expenses from January to December last year. The...
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...
Investors in Nigeria’s stock market gained over N90 billion as the bourse maintained its bullish run on Friday. The equity capitalisation also increased from N20.47 trillion...
Federal, states and local government councils on Friday shared N681.33billion as revenue allocation for March. The Federation Accounts Allocation Committee (FAAC) disclosed this in a communiqué...
President Muhammadu Buhari has approved the restoration of Oil Mining Leases (OML) 123, 124, 126, and 137 to the Nigeria National Petroleum Corporation (NNPC) which is...
Nigeria has overtaken the Republic of Congo as the country with less access to electricity globally according to the World Bank. WBG Practice Manager, West and...
Nigerians are reportedly shunning the country’s currency, naira, for foreign notes. This move is to escape the weak local currency which has a high volatility amid...
The Central Bank of Nigeria (CBN) has disclosed that total direct remittances to Nigeria in the first three months of 2021 dropped by 75.3 percent. According...
The Federal Government has granted the Nigeria Liquefied Natural Gas (NLNG) company a N20 billion tax waiver for constructing the Bodo Bonny Bridge in Rivers State....
The Nigerian Investment Promotion Commission (NIPC) has revealed that investments into Nigeria witnessed a significant increase in the first three months of the year. According to...
Nigeria’s naira gained against the U.S. dollar at the unofficial market on Thursday. The data posted by Abokifx showed that the naira closed at N485.00 at...
The Nigeria Stock Exchange sustained its bullish run for third straight day on Thursday as equity capitalisation increased by N10 billion at the close of trading...
Guaranty Trust Bank cut its loan approval for the period of Q1 this year. The lender reduced loans given to customers by 1.8 percent. This affected...
The Naira appreciated slightly against the U.S. dollar at the I&E window of the foreign exchange market on Wednesday. The appreciation saw the local currency exchanged...
Airtel Africa has raised $500 million loan from JP Morgan, Bank of America, Citibank, HSBC and four others others to finance another debt which the telecommunications...
Shareholders of FCMB Group Plc (www.fcmbgroup.com) have restated their confidence in the financial institution to sustain its impressive performance and deliver more value. The shareholders gave...
Investors’ activities on the floor of the Nigerian Stock Exchange lifted the equity capitalisation to N20.46 trillion at the close of trading on Wednesday. This was...
The Senate on Wednesday approved the sum of N257.18 billion as the Nigerian Customs Service budget for 2021. The upper legislative chamber also approved the N1.678...
