Business

Nigerians mourn as Access Bank CEO, Herbert Wigwe, five others die in chopper crash. Nigerians on social media have continued to mourn following news of the sudden death of the group chief executive officer of Access Holdings Plc, Herbert Wigwe. ...

The Nigerian National Petroleum Company (NNPC) Ltd has denied any imminent hike in the pump prices of Premium Motor Spirit (PMS), popularly known as petrol   Recently, some motorists have been experiencing difficulties buying petrol in filling stations amid fears ...

The Federal Government yesterday moved to stem rising food prices in the country by directing the Special Presidential Committee on Emergency Food Intervention to immediately wade in Assuring Nigerians that there was no food shortage, the government alleged that saboteurs ...

Russia has begun buying bananas from India and will boost such imports, its food safety watchdog said on Tuesday, after a spat with its biggest supplier Ecuador over the latter’s decision to swap Russian-made military hardware with the United States. The first batch of ...

A fire outbreak on Wednesday morning burnt a popular night club Roky Fella located in Abakaliki capital of Ebonyi state   Properties and goods worth millions were destroyed before the fire was put off. The club is located along Udoji Street, Kpirikpiri ...

  The management of Fidelity Bank has estimated that it may lose about N1.19bn to claims and litigation for the year ended December 2023. This was shown in its condensed unaudited financial statements for 2023 filed with the Nigerian Exchange Limited. ...

  The Nigerian National Petroleum Company Limited, on Thursday, said it was working in collaboration with the United States Department of States and international management consultancy firm, Deloitte, to meet its net-zero carbon goals. This, it said, was by embarking ...

  The Governor of the Central Bank of Nigeria, Olayemi Cardoso, has said that Foreign Portfolio Investors want the country to carry out policy reforms to enable them to bring in their funds. Cardoso said this on Monday during an ...

  116 customers of Wema Bank were rewarded with about N8m in the sixth monthly draw of the bank’s 5 for 5 Promo Season 3. In a statement, the firm said the live draw, which was held at the Oba ...

  The naira strengthened at the official window on Monday, after the Central Bank of Nigeria Governor, Olayemi Cardoso, reassured that the apex bank was making efforts to tackle the volatility of the currency. The local currency appreciated by 1.09 ...

  Bank Directors Association of Nigeria says it is supportive of a directive by the Central Bank of Nigeria asking commercial banks to stop “hoarding’’ foreign currencies. The CBN had last week expressed concerns over the escalating foreign currency exposure ...

The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar   This is coming weeks after the rate was increased from N783/$ to N952/$.   In November, ...

The Naira appreciated on Monday at the official foreign exchange (FX) market, closing at N1,419.86 to the dollar as against N1,435.53 to the greenback which it closed on Friday, February 02, 2024, the Nigerian Autonomous Foreign Exchange Market (NAFEM), data ...

The federal government has banned alcoholic beverages produced in sachets less than 200ml The National Agency for Food and Drug Administration and Control (NAFDAC) Director-General, Prof Mojisola Adeyeye disclosed this on Monday while addressing the media over the development in Abuja. ...

CBN raises import duty rate by another 4.4% in 24 hours Barely 24 hours after it increased the Customs exchange rate to N1, 356.883 per dollar on Friday, the Central Bank of Nigeria, CBN, has Saturday morning once again jerked ...

  Airtel Africa has revealed plans for a $100m share buyback programme starting March 2024. This is as the company also reported a 99.6 per cent decline in its post-tax profit to $2m at the end of the nine months ended December 2023 from $523m ...

  Ahead of the midnight February 1, 2024 deadline given by the Central Bank of Nigeria to commercial banks to sell all excess foreign exchange holdings, Deposit Money Banks on Thursday made frantic efforts to offload their surplus dollar stocks. ...

  The First Bank of Nigeria Holdings has appointed Nigerian billionaire and businessman, Femi Otedola, as the new chairman of its board of directors. Otedola, who recently expressed his excitement about his return to the Forbes African Billionaires list after a seven-year ...

  Banks may sell over $5bn, says official, Cardoso faces Senate Tuesday over naira fall Amid its fresh moves to stabilise the nation’s volatile exchange rate, the Central Bank of Nigeria has ordered Deposit Money Banks to sell their excess ...

  Bureau De Change operators have announced shut down of operations in Abuja as a result of unavailability of dollars, reports the Daily Trust This was announced by the association’s Chairman, Abdulahi Dauran, on Wednesday. The naira closed at an ...

  Finance and economy analysts have shared perspectives on the relocation of some units and departments of the Central Bank of Nigeria to Lagos. The stakeholders spoke to PUNCH Online on Wednesday following the recent apex bank’s announcement directing the ...

Adron Homes Rewards Continental Business Challenge Winners To an All-Expense-Paid Holiday, Promises More Staff Welfare. To strengthen commitment by rewarding exceptional staff and also creating a more competitive working atmosphere, the management of Adron Homes and Properties has sponsored 10 staff ...

In what has been termed a significant milestone in the advancement of Nigeria’s domestic gas industry and the generation of gas revenues, Temile Development Company Ltd -a key indigenous player in the oil and gas industry- recently commissioned a 23,000 ...

Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African bank has launched an innovative training program targeted at empowering operators of small and medium enterprises (SMEs) in the country. Through the initiative, titled MySME Growth Series, the Bank ...

  Seven-Up Bottling Company in partnership with the United Nations Industrial Development Organisation and Zenith Bank has organised a bootcamp for about 80 Small and Medium Enterprises in Nigeria. In a statement from the company on Monday, the bootcamp themed ...