Foreign investments valued at $23.9 billion (over N8.771 trillion) came into Nigeria by way of 22 banks last year, the statistics office has said. The injection...
Intensifying to a new height last week, the downtrend in the equity market showed no sign of subsiding soon with the Nigerian bourse recording losses all...
Nigeria’s erstwhile Minister of Finance, Ngozi Okonjo-Iweala has given her backing to the resolve by African finance ministers to request debt relief from multilateral, bilateral and...
The Nigerian government has granted a tax holiday of up to three years in conformity with the provisions of the Industrial Development Income Tax Act. Termed...
The Nigerian economy faces the huge prospect of losing up to $650 million dollars (about N238.550 billion) and 91,380 jobs to the downtrend induced by 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, mainstream business activities...
A coalition of six insurance companies in Nigeria Saturday announced an insurance cover of N5billion for health workers and volunteers in the frontline against coronavirus in...
Tony Elumelu Foundation (TEF) Entrepreneurship Programme, 6th edition has been postponed due to the COVID-19 outbreak until 2021. TEF entrepreneurship program is an annual scheme that...
The Nigerian Electricity Regulatory Commission (NERC) Friday released guidelines for power industry operations during the coronavirus crisis, instructing stakeholders to maintain continuity of service as long...
Oil prices rose for the second consecutive day on Friday with Brent (the international benchmark for Nigeria’s crude) climbing up further to $34.91 per barrel. It...
Market activities this week were sorely affected by inevitability by investors and traders to conduct business away from the Nigerian Stock Exchange (NSE) building as the...
The World Bank’s Board of Executive Directors excluded Nigeria from the list of 25 countries that will benefit from its $1.9 billion first set of emergency...
Heavy sell-offs in the shares of the two most capitalised companies on the Nigerian Stock Exchange –Dangote Cement and MTNN –accounted primarily for the N13.851 billion...
As the COVID-19 crisis unfolds, the focus of business leaders and others has been on immediate responses and short-term time horizons. This is for good reason....
NEM Insurance Plc has proposed a total dividend payout of N792.075 million translating to N0.15 per share for Full Year 2019. This follows the release of the...
Nigerian Breweries PLC Thursday announced it was floating a commercial paper aimed at generating capital in the neighbourhood of N48 billion from the investing public. Commercial...
International credit rating agency, Fitch Ratings, has noted in its latest outlook for the Nigerian banking sector that banks across the country face acute threats from...
Between 2nd January and 1st April this year, Nigeria’s foreign reserves declined by $3.02 billion or 7.83%, moving from $38.53 billion to $35.16 billion in between the periods. The country’s...
Global oil prices rebounded to more than $30 a barrel for the first time in almost a month on Thursday after Saudi Arabia and Russia signalled...
In spite of the downtrend in market activities spurred by the need for investors to trade remotely in the wake of the coronavirus crisis, the Nigerian...
Commercial Banks across the country are reducing the thresholds for the amount individuals can spend abroad in order to avert hitches that may arise from foreign...
Nigerian banks recorded total Non-Performing Loans (NPL) of N1.05 trillion at Full Year 2019 compared to the N1.79 trillion posted in the corresponding period of 2018,...
The latest debt profile of Nigeria has revealed that borrowing by the Federal Government alongside the 36 states of the federation plus the Federal Capital Territory...
The Kano State chapter of the Independent Petroleum Marketers Association of Nigeria (IPMAN) has directed its members to ignore the reduction of the price of petrol...
Fund amassed so far from private sector companies, mobilised by the Central Bank of Nigeria (CBN) towards tackling the coronavirus crisis, hit N15 billion in Wednesday....
The latest audit report by the Nigerian Extractive Industries Transparency Initiative (NEITI) has revealed that the Nigerian government expended the sum of N722.3 billion on subsidising...
African Ministers of Finance are seeking debt relief from international lenders to buffer the effects of COVID-19 on national economies within the continent. According to them,...
Nigerian Breweries (NB) Plc Wednesday notified the Nigerian Stock Exchange (NSE) and the investing public of the resignation of Mr. Atedo Peterside from its board of...
The bear run on the Nigerian bourse continued Wednesday as sell pressure in blue-chip stocks caused key performance indices to end in the red. A negative...
MTN Group Limited said it would not back down from its plan to offload 15% of its shareholding in MTN Nigeria to indigenous investors even if...
The Nigerian Naira Tuesday plummeted to its weakest point since February 2017 at the parallel market amidst exacerbating dollar crunch induced by the central bank’s tightening...
Beneficiaries of the One Local Government One Product (OLOP) credit scheme of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) are to enjoy a...
Montreal-based International Air Transport Association (IATA) Tuesday forecasted that airlines across the world could expend $61 billion of their cash reserves and record a quarterly net loss of $39 billion...
The Nigerian Government Tuesday night slashed the pump price of gasoline from N125 to N123.5 per litre, the second time in less than two weeks it...
The Nigerian stock market recorded the second consecutive loss this week Tuesday as profit-taking led the market to close in the negative territory. So far this...
Mondelez-backed beverage and chocolate maker, Cadbury Nigeria Plc, has declared a N0.49 final dividend per share for Full Year 2019. According to the confectioner’s notice to the Nigerian...
Glassware manufacturer, Beta Glass Plc, has announced a 10.4% expansion in its after-tax profit for Full Year 2019. The comprehensive account of the firm’s financial performance in...
A new electricity tariff regime, which will effect increase in different electricity rate categories, begins tomorrow Wednesday 1st April 2020. The new regulation had been announced...
The Naira exchanged for N412 per dollar on Monday at the Bureau De Change (BDC), shedding N10 in one day after selling for N402 last Friday. The...
The Central Bank of Nigeria (CBN) Monday suspended clearing of cheques until further notice. The Director of Banking Services at CBN, Mr. Sam Okojere, who disclosed...
Negative sentiments dominated activities in the Nigerian bourse Monday as intense profit-taking cost the market N276.727 billion. All the key performance indicators closed in the negative...
President Muhammadu Buhari Monday approved “skeletal operations” by banks and other key players in the financial services sector following the restriction order placed on Abuja, Lagos...
Oil prices plummeted to their lowest levels in seventeen years Monday on the back of a glut-induced fall in demand as the global oil market battles...
Nigeria’s petroleum regulator has given a directive to oil and gas firms to reduce their offshore personnel and adopt 28-day staff rotations in a bid to...
The Market Capitalisation of the Nigerian equity market depreciated by N174.820 billion in the week that just went by even though Exchange bucked market trends to...
The Central Bank of Nigeria (CBN) has announced that the N100 billion health intervention fund earmarked for tackling the COVID-19 crisis will terminate in 2030. “The...
The Central Securities Clearing System (CSCS) has adopted full digitalisation in its operations, aimed at checking the disruptive effects of the COVID-19 outbreak on its business....
The International Monetary Fund (IMF) has inaugurated a fund-raising initiative through its Catastrophe Containment and Relief Trust (CCRT) that would enable it provide additional debt service...
President Muhammadu Buhari on Sunday suspended the movements of all passenger aircraft, both commercial and private jets in Nigeria, following the spread of coronavirus in the...
Beneficiaries of government-backed microcredit schemes –TradeMoni, MarketMoni and Farmer Moni –will proceed on a three-month loan repayment holiday as succour for the harsh economic conditions induced...
