AMATO Raises Alarm Over Looming Apapa Gridlock Due to Unfair Call-Up System
The Association of Maritime Truck Owners (AMATO) has raised alarm over the worsening situation at the Apapa port, warning that…
Category: Business
9mobile Faces Subscriber Exodus as Market Share Declines to 1.9%
Nigeria’s fourth-largest mobile network operator, 9mobile, is experiencing a significant decline in its subscriber base, with 6,079 customers porting out…
Oando’s Adewale Tinubu Highlights Potential of Indigenous Energy Companies in Nigeria’s Oil and Gas Industry at WEF
Adewale Tinubu, the Group Chief Executive of Oando Plc, has underscored the immense opportunities for indigenous energy companies in Nigeria…
Nigerian Stock Market Sees Positive Week with N794bn Gain
The Nigerian stock market closed last week on a positive note, with investors gaining over N794 billion. This growth was…
Nigeria Not Yet a Hyperinflationary Economy – Financial Reporting Council (FRC)
The Financial Reporting Council (FRC) of Nigeria has clarified that the country has not reached the point of a hyperinflationary…
PwC’s Olusegun Zacchaeus Projects 26% Inflation and Stable Exchange Rate for Nigeria in 2025
Olusegun Zacchaeus, Partner and Lead for Strategy & West Africa at PwC, has projected that Nigeria’s inflation rate will decline…
SEC Issues Warning Against Unauthorized Investment Schemes by Risevest and Stecs
The Securities and Exchange Commission (SEC) has issued a warning to Nigerians, advising them to avoid engaging in any investment-related…
Pension Fund Administrators Increase Investment in FGN Securities Amid High Interest Rates
Pension Fund Administrators (PFAs) have significantly increased their investment in Federal Government (FGN) Securities, seeing a 17.7% year-on-year rise, reaching…
BVN Enrollments Rise by 2.1% in January 2025
The volume of Bank Verification Number (BVN) enrollments in Nigeria has increased by 1.33 million, or 2.1%, reaching 64.8 million…
Manufacturers Struggling as Credit Declines Amid High Interest Rates
For the first time in two years, credit to Nigeria’s manufacturing sector recorded a quarterly decline in 2024. This drop,…
EXIM and NEXIM Sign MOU to Strengthen U.S.-Nigeria Trade Relations
The Export-Import Bank of the United States (EXIM) has taken a significant step towards enhancing trade ties with Nigeria by…
Dangote Refinery Reduces Petrol Imports from Europe, Impacts Global Market
The Dangote Petroleum Refinery, with its capacity to process 650,000 barrels per day, has started to make waves in the…
CBN Imposes N1.35bn Fine on Nine Banks for ATM Cash Shortages During Yuletide
The Central Bank of Nigeria (CBN) has imposed a total fine of N1.35 billion on nine commercial banks for failing…
Nigerian Customs Achieves Major Milestones with N196.94trn in Trade Processed and N35.2bn Seizures
The Nigeria Customs Service (NCS) has reported impressive achievements for the year 2024, showcasing a remarkable surge in trade processing,…
Nigeria’s Power Minister Calls for N2.8 Trillion to Improve Electricity Transmission
Nigeria’s Minister of Power, Chief Adebayo Adelabu, has revealed that the Transmission Company of Nigeria (TCN) requires a staggering N2.8…
Naira Appreciates in Parallel Market, Depreciates in Official Market
The Nigerian Naira showed mixed results on the foreign exchange market on Monday. It appreciated to N1,655 per dollar in…
Naira Depreciates Against Dollar in Both Parallel and Official Markets
The Naira has experienced a slight depreciation against the U.S. dollar, with the exchange rate in the parallel market rising…
Nigeria Customs Service Receives Over Half a Million Applications for 2024/2025 Recruitment
The Nigeria Customs Service (NCS) has reported a significant surge in applications for its 2024/2025 recruitment exercise, receiving 573,519 applications…
Ikeja Electric Raises Alarm Over Rising Vandalism and Theft of Its Facilities
Ikeja Electric (IE) has expressed serious concerns over the increasing incidents of vandalism and theft targeting its facilities, particularly in…
Nigeria Partners with Netzence to Combat Climate Change Through Carbon Registries
In a significant move towards sustainable development and climate action, the Environmental Health Council of Nigeria (EHCON) has signed a…
Interswitch Sponsors CeBIH 2024 Conference to Shape Nigeria’s Digital Payment Future
Interswitch Group, a major player in Africa’s digital payments and commerce space, has been announced as a key sponsor of…
Shell Awards $1.98 Billion in Contracts to Nigerian Firms, Boosting Local Content
Shell Companies in Nigeria, including the Shell Petroleum Development Company (SPDC), Shell Nigeria Exploration and Production Company (SNEPCo), and Shell…
Lekki Deep Sea Port Boosts Nigeria’s Maritime Sector with New Global Shipping Alliances
In a landmark development for Nigeria’s maritime industry, the management of Lekki Port LFTZ Enterprise Limited (LPLEL), Lekki Freeport Terminal,…
SEC Warns Against Marino FX Limited, Alerts Nigerians on Risks of Unregistered Investments
The Securities and Exchange Commission (SEC) has issued a stern warning to the public, advising against any business dealings with…
Nigerian Stock Market Falls After CBN Interest Rate Hike
The Nigerian Exchange Limited (NGX) closed last week in negative territory as the stock market reacted to the Central Bank…
Stanbic IBTC Asset Management Launches Campaign to Combat Scams Targeting Mutual Fund Investors
Stanbic IBTC Asset Management has implemented robust measures to protect its customers from increasing scams targeting mutual fund holders. In…
Senate Session Erupts Over Controversial Tax Reform Bill Debate
Wednesday’s plenary in the Nigerian Senate descended into chaos as lawmakers clashed over the unexpected introduction of the controversial Tax…
Peter Obi Applauds NNPCL’s Revitalization of Port Harcourt Refinery, Calls for Transparency
Peter Obi, the Labour Party’s presidential candidate in the 2023 election, has congratulated the Nigerian National Petroleum Corporation Limited (NNPCL)…
Ziad Maalouf’s TEDx Talk on Scaling Nigerian SMEs
At the TEDx PAU (Pan-Atlantic University) event, Ziad Maalouf, Managing Director of Seven-Up Bottling Company and convener of SME Scaleup,…
CBN Sets $100,000 Minimum for Forex Trading on New Platform
The Central Bank of Nigeria (CBN) has introduced a significant change to foreign exchange trading by pegging the minimum tradable…