Cadbury Nigeria PLC has announced a pre-tax profit of N2 billion for the fourth quarter of 2024. In its recently released financial statement on the Nigerian Exchange (NGX) on January 27, 2025, the company highlighted a significant recovery of 111.73%…
The Central Bank of Nigeria (CBN) has announced the waiver of the 2025 non-refundable annual license renewal fee for Bureau De Change (BDC) operators. In a circular dated January 24, 2025, signed by John S. Onojah, Acting Director of the…
The Governor of the Central Bank, Olayemi Cardoso, has disclosed that the forensic verification process to resolve all outstanding foreign exchange backlogs has been completed, and payments will begin shortly. During the launch of the foreign exchange code, Cardoso expressed…
Zenith Bank Plc has raised N350.4bn through its recently concluded hybrid Rights Issue and Public Offer. In a statement released to the Nigerian Exchange (NGX) Group on Sunday, January 26, 2025, the Bank announced that it has secured the full…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has begun issuing gas licenses to qualified industry players due to the frequent failures of the national grid. The grid that has so far recorded one collapse this year after more…
The Financial Reporting Council (FRC) has explained that Nigeria has not attained the point of a hyperinflationary economy. The Council, in a press statement signed by its Executive Secretary/Chief Executive Officer, Dr. Rabiu Olowo, added that International Accounting Standards, IAS…
The Securities and Exchange Commission (SEC) has cautioned Nigerians against engaging in any investment-related transactions with Risevest (Victoria Island) Cooperative Multipurpose Society Limited and Stecs (Alausa) Multipurpose Cooperative Society, commonly known as Stecs. The SEC in a circular issued in…
Guinness Nigeria Plc notified the Nigerian Exchange Limited (NGX) and the investing public about recent updates to its Board of Directors. These changes, approved by the Board, include the retirement of Dr. Omobola Johnson as Board Chair and Independent Non-Executive…
The Central Bank of Nigeria (CBN) has said it has approved the release of the Nigerian Foreign Exchange (FX) Code. The apex bank also announced that the Code would be formally launched next week in Abuja. According to CBN in…
Nigeria’s total public debt climbed to N142.3 trillion as of September 30, 2024, marking a 5.97 percent increase from N134.3 trillion in June 2024, according to the Debt Management Office (DMO). This surge underscores the country’s growing reliance on borrowing…
The Federal Government has disbursed N22 billion for the payment of pension accrued rights to employees who retired from October 2023 to January 2024. This latest release raises the total amount allocated from the 2024 Appropriation for accrued rights settlement…
Dr. Abiodun Layonu, SAN, and Olumide Aju, SAN, legal representatives for General Hydrocarbon Limited (GHL), a Nigeria-based oil and gas services company, along with other parties involved in a lawsuit against First Bank Holdings Plc, accused the bank on Friday…
The World Bank Group has declared a 30-month ban on two Nigerian companies, Viva Atlantic Limited and Technology House Limited, along with their Managing Director and CEO, Norman Didam, due to their involvement in fraudulent, collusive, and corrupt conduct. This…
European and Asian stock markets experienced gains on Monday, while Bitcoin surged to a record high. This upward trend coincided with Donald Trump’s preparation to return to the presidency of the world’s largest economy. The dollar exhibited mixed performance against…
Oil Import License Dispute: Dangote Refinery’s Case Against NMDPRA Adjourned to January 30 Justice Inyang Ekwo of the Federal High Court Abuja has adjourned a suit filed by Dangote Petroleum Refinery and Petrochemicals FZE over a bid to stop the…