Dangote Refinery has said that the recent adjustment in the company’s ex-depot price of petrol “is directly related to the significant increase in global crude oil prices”. The company assured Nigerians that three of its partners will sell petrol for…
The Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Taiwo Oyedele, has disclosed that the National Assembly will pass the controversial tax reform bills into law in the first quarter (Q1) of 2025. Speaking at the weekend…
Bitcoin reached an all-time high of $109,241 just before Trump’s inauguration ceremony but fell back to $107,765 around 07:40 GMT. The world’s largest cryptocurrency has surged since Trump won the presidential election in November, surpassing the $100,000 mark for the…
The Murtala Muhammed International Airport (MMIA) Command of the Nigeria Customs Service (NCS) has announced that it generated a total of ₦71.6 billion in 2024, surpassing its revenue target for the year. The Customs Area Controller (CAC), Comptroller Effiong Harrison,…
Fidelity Bank Plc has announced significant changes to its Board of Directors, effective January 14, 2025. The new appointments include Alhaji Abdullahi Sarki Mohammed as an Independent Non-Executive Director, Ms. Obiaku Augusta Okam as a Non-Executive Director, and Mr. Sufiyanu…
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has introduced two transformative initiatives, the Document Flow (DocFlow) System and the Ministries, Departments, and Agencies (MDAs) Naira Payment Solution. According to a statement released by the apex bank,…
The Central Bank of Nigeria (CBN) has imposed sanctions totaling N1.35 billion on nine Deposit Money Banks (DMBs) for failing to ensure the availability of Naira notes through Automated Teller Machines (ATMs) during the 2024 festive season, a period of…
The Federal Government has announced its commitment to finalising the long-awaited recapitalisation of the Bank of Agriculture (BoA) by the end of the first quarter of 2025. The initiative is aimed at addressing the persistent funding challenges faced by smallholder…
General Hydrocarbons Limited (GHL) has officially disputed claims regarding an alleged debt to First Bank of Nigeria (FBN) Plc. The management asserts that the company does not owe any money to the bank, including the claimed sum of $225 million.…
The Central Bank of Nigeria (CBN) has suspended the approval of extensions for the repatriation of export proceeds on behalf of exporters. CBN noted this directive which was issued through a circular dated January 8, 2025, takes immediate effect. The…
Nigeria’s headline inflation rate is projected to average 30.5% year-on-year in 2025 and settle at 27.1% by December 2025. According to the latest NESG-Stanbic IBTC Business Confidence Monitor report, the forecast is based on the premise that headline inflation is…
FBN Holdings Plc has released a statement to address a media report regarding two of its shareholders’ calls for an Extraordinary General Meeting (EGM). The company has assured its stakeholders that this development will not affect its operations, as all…
US Steel and Nippon Steel threatened legal action Friday after President Joe Biden blocked a controversial $14.9 billion deal for the Japanese company to buy its American rival. Biden cited a strategic need to protect domestic industry — but the…
The Chief Executive Officer of MTN Nigeria, Karl Toriola, says telecommunication companies are unanimously proposing a 100 per cent increase in tariffs to the Nigerian government. He noted that the rising operational cost, inflation, and naira devaluation have made the…
Landmark Africa, owner of the Landmark Beach Resort in Lagos, has announced plans to relocate its Nigerian headquarters and expand its operations. Paul Onwuanibe, CEO and Founder revealed that the company will extend its reach into two other African countries,…