Business

Diageo, the parent company of Guinness, has announced its exit from the Nigerian market after operating in the country for 60 years. The company has agreed to sell its 58.02% majority stake in Guinness Nigeria to the Singaporean conglomerate, Tolaram ...

  The Nigerian National Petroleum Company Limited, on Monday, denied reports that it inflated the subsidy on Premium Motor Spirit, popularly called petrol, by N3.3tn during the administration of former President Muhammadu Buhari It argued that its subsidy claims were verifiable, ...

  Access Bank Plc has announced that it has successfully completed the acquisition of African Banking Corporation (Tanzania) Limited in line with its strategic expansion goals. Access Bank, in a statement on Monday, stated that the milestone achieved by the ...

  Fidelity Bank was by far the most traded stock in the NGX on Monday, 10 June 2024, with a turnover volume of about 605.257 million shares, even as the stock gained 6.52% to close at N9.80. Since announcing its ...

  Elon Musk announced Monday that he’ll ban Apple devices from his companies’ premises if the iPhone creator goes forward with its planned OpenAI integration. Apple held its annual Worldwide Developer’s Conference Monday, and the biggest takeaway was OpenAI’s ChatGPT will be ...

The pump price of Premium Motor Spirit, popularly called petrol, should drop to about N300/litre upon the commencement of massive production by the Dangote Petroleum Refinery and other indigenous producers, operators of modular refineries stated on Sunday. However, they pointed ...

  Nigeria’s ethical banking institution, The Alternative Bank has signed a pioneering deal with the Niger State government worth N14bn to finance the delivery of 5,000 electric tricycles to drive social impact, youth empowerment, business growth, and economic prosperity in ...

  The shareholders of Ecobank Transnational Incorporated have given their approval for it to raise N600m in fresh capital raise within one year. This was revealed in the resolutions adopted at the 36th annual general meeting and extraordinary general meeting ...

  Following its strong 2023 financial performance, Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has received an upgraded rating from Agusto & Co, validating the Bank as Bbb+ rated with an ESG ...

Music executive, Don Jazzy has revealed he once tried to sell, his now rested record label, Mo’Hit to another music executive, Obi Asika He said he attempted to sell it for just one million naira. In an exclusive interview with ...

  Nigeria’s premier financial institution and financial inclusion services provider has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024. The Excellence in Retail ...

There is a need for the Nigerian Communication Commission (NCC) to investigate the operations of telecommunications companies operating in the country over poor service delivery. The resolution was passed as a sequel to the adoption of a motion under ‘Urgent Public ...

Dealers in Liquefied Petroleum Gas popularly known as cooking gas have expressed satisfaction over the fall in the price of the product. The dealers under the aegis of Nigerian Association of Liquefied Petroleum Gas Marketers, said the ban by the Federal ...

The Federal Government may have set in motion a plan to suspend the payment of import duties on staple food items, drugs, and other essential items for an initial period of six months as a measure to curb inflation. This ...

The Presidency has said two trending fiscal policy documents in circulation are still proposals and have not been approved by President Bola Tinubu. It also reiterated that the fuel subsidy regime has ended, and the government’s position on fuel subsidy ...

The Nigerian Deposit Insurance Corporation (NDIC) has assured depositors of Heritage Bank it was already in the process of paying them. The Managing Director of NDIC, Bello Hassan, stated this at a briefing where he outlined the processes of repayment, insisting that ...

The Central Bank of Nigeria has denied plans to revoke the licenses of Unity Bank, Polaris Bank, and Keystone Bank. “The content is fake and not from the CBN.” Online reports had claimed that the apex bank would terminate the licenses ...

In a move to safeguard the financial system and protect depositors’ funds, the Central Bank of Nigeria (CBN) has revoked Heritage Bank’s license, effective immediately. The Nigeria Deposit Insurance Corporation (NDIC) has been appointed as the liquidator, ensuring a smooth ...

Popular fashion designer, Veekee James, elated and grateful after her first appearance on CNN. In an emotional feature, she recounts her modest upbringing, living with her mother in a small home, where she first discovered her passion for fashion. With ...

  FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023.   The ...

  FBN Holdings Plc declared N238.53 billion profit before tax (PBT) in its unaudited first quarter (Q1) ended March 31, 2024 results, which was about 325.2percent growth from the N56.1 billion reported in Q1 ended March 31, 2023.   The ...

A Federal High Court in Abuja has granted bail to Chioma Okoli in the sum of N5 million with two sureties. Okoli was arraigned on Tuesday, May 28, 2024 before Hon. Justice Peter Lifu, and was later remanded at Suleja Correctional ...

Kimberly-Clark, the producer and manufacturer of popular diaper brand ‘Huggies’ and various sanitary pads, is set to announce the closure of its production facility in Ikorodu, Nigeria, after several years of investing $100 million in the country. Huggies reportedly leaving ...

Renowned musician, Davido, is facing backlash on Twitter as users accuse him of scamming them through his recently launched cryptocurrency venture, $Davido. Many fans invested heavily in the project, trusting his reputation, but were left with significant losses when Davido ...

Erisco’s food critic, Chioma Okoli reportedly suffers a miscarriage due to the stressful legal battle with Erisco Foods over her product review. In 2023, Chioma Okoli shared on Facebook that the tomato paste she used contained excessive sugar, leading to ...