Economy - Page 21

Dangote Drops Ex-Depot Petrol Price To ₦820 Per Litre

Dangote Petroleum Refinery on Tuesday further dropped the ex-depot price per litre of petrol from ₦840 to ₦820. In an update, a spokesman for the refinery, Tony Chiejina, confirmed the ₦20 marginal reduction, which occurred about one week after the $20bn refinery

July 9, 2025

Economy·News

Governor Yemi Cardoso On CBN Severance Program.

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, announced yesterday that the staff members who departed in December last year did so voluntarily and received their full benefits. During a resumed investigative hearing regarding the departure of 1,000

by News Room

January 4, 2025

Economy

FCMB Group Plc Raises N147.5bn with 33% Oversubscribed Public Offer

FCMB Group Plc has announced the successful completion of its public offer, raising N147.5bn with an impressive 33% oversubscription. The offer, which received the necessary approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), attracted 42,800

by News Editor

December 31, 2024

Economy

Ogun Police Officers Arrested for Extortion in Missing Girl Case

Some officers attached to the Ogun State Police Command have been arrested for allegedly demanding money from the family of a missing girl before taking action on the case. The Public Relations Officer for the Nigeria Police Force, Muyiwa Adejobi, disclosed this

by News Editor

December 30, 2024

Economy·News

Nigeria, China Renew Currency Swap Agreement

China’s Central Bank on Friday said that it has renewed a bilateral currency swap agreement with the Central Bank of Nigeria. The total value of the agreement is 15 billion yuan (about 2.09 billion U.S. dollars), or N3.28 trillion, the People’s Bank

by News Editor

December 28, 2024

Economy·News

Nigeria’s Economy Shows Positive Growth in Q3 2024, Says CBN

The economy grew by 3.46 per cent in Q32024, with output reaching ₦20.115 trillion, up from 3.19 per cent (₦18.285 trillion) in Q2 2024, driven mainly by the non-oil sector. This was revealed in the Central Bank of Nigeria’s newly released Economic

by News Editor

December 23, 2024

Economy

Financial Statements of Public Companies Now Required to be Online, Says SEC

The Securities and Exchange Commission has ordered all publicly listed companies to publish their financial statements on their official websites from January 2025. According to the Commission, the directive aims to ensure seamless public access to financial information, which is critical for

by News Editor

December 20, 2024

Economy

Nigeria’s Inflation Rises to 34.60% in November Amid Soaring Food Prices

Nigeria’s inflation rate rose to 34.60 percent in November 2024, up from 33.88 percent in October, further exacerbating economic hardships for citizens. The National Bureau of Statistics (NBS), in its latest Consumer Price Index and Inflation report, revealed a 0.72 percent month-on-month

by News Editor

December 17, 2024

Economy·News

Banks Face ₦150m Penalty from CBN for Issuing New Currency to Hawkers

The Central Bank of Nigeria has imposed a fine of ₦150 million on Deposit Money Banks that have been found guilty of distributing illegal mint naira notes to currency hawkers across the country. This action follows the apex bank’s efforts to address

by News Editor

December 16, 2024

Economy·News

Rate Cuts Fail to Ignite European Stock Market Activity

Europe’s main stock markets were little changed Thursday despite interest rate cuts by the eurozone and Swiss central banks as policymakers warned of economic and political woes in the region and beyond. Wall Street shares were mixed at the open, with the

by News Editor

December 15, 2024

Economy·News

Access Bank Secures Deal to Acquire Full Ownership of Biden Bank

Access Bank Plc has entered into a binding agreement with South African-based Bidest Group Limited for the acquisition of a 100 per cent equity stake in Bidvest Bank. A statement by the Head of Media Relations, Access Holdings Plc, Olakunle Aderinokun on

by News Editor

December 15, 2024

Economy

UK Economy Unexpectedly Contracts Again This October

Britain’s economy contracted for the second consecutive month in October, according to official data released on Friday. This downturn poses a challenge for the Labour government, which has prioritized economic growth. The Office for National Statistics (ONS) reported that gross domestic product

by News Editor

December 14, 2024

Economy·News

Equinor Sells Assets, Officially Ends 31-Year Ties with Nigeria

Norwegian energy giant, Equinor has announced the decision to end its almost 31-year business partnership with Nigeria, after finalising the sale of its oil assets. A statement by the company on Monday said the sale of its assets was completed on December

by News Editor

December 11, 2024

Economy

Transcorp Appoints Atinuke Kolade as Group Company Secretary

Transnational Corporation Plc (Transcorp) announced the appointment of Ms. Atinuke Kolade as the new Group Company Secretary, effective December 3, 2024. This development was disclosed in a notification signed by the Group Head, Marketing and Corporate Communication Deshola Shittu to the Nigerian

by News Editor

December 6, 2024

Economy·News

2024 Banker Awards: Zenith Bank Crowned ‘Bank of the Year’ in Nigeria

Zenith Bank Plc has emerged as ‘Bank of the Year, Nigeria’ in The Banker’s Bank of the Year Awards 2024. The award, announced by The Banker Magazine, Financial Times Group, United Kingdom, during the awards ceremony held in London on December 4,

by News Editor

December 5, 2024

Economy

OPEC+ Extends Oil Supply Cuts Through March

Several OPEC+ countries, including Saudi Arabia and Russia, agreed Thursday to extend oil supply cuts for three months through March to avoid a sharp drop in prices in a global market awash in crude. The decision had been widely expected, though dissension

by News Editor

December 5, 2024

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Economy - Page 21

Dangote Drops Ex-Depot Petrol Price To ₦820 Per Litre

Governor Yemi Cardoso On CBN Severance Program.

FCMB Group Plc Raises N147.5bn with 33% Oversubscribed Public Offer

Ogun Police Officers Arrested for Extortion in Missing Girl Case

Nigeria, China Renew Currency Swap Agreement

Nigeria’s Economy Shows Positive Growth in Q3 2024, Says CBN

Financial Statements of Public Companies Now Required to be Online, Says SEC

Nigeria’s Inflation Rises to 34.60% in November Amid Soaring Food Prices

Banks Face ₦150m Penalty from CBN for Issuing New Currency to Hawkers

Rate Cuts Fail to Ignite European Stock Market Activity

Access Bank Secures Deal to Acquire Full Ownership of Biden Bank

UK Economy Unexpectedly Contracts Again This October

Equinor Sells Assets, Officially Ends 31-Year Ties with Nigeria

Transcorp Appoints Atinuke Kolade as Group Company Secretary

2024 Banker Awards: Zenith Bank Crowned ‘Bank of the Year’ in Nigeria

OPEC+ Extends Oil Supply Cuts Through March

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