Section
Business
635 stories
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CBN Uncovers $2.4 Billion False Forex Claim Pressuring Naira – Cardoso
The Central Bank of Nigeria (CBN) uncovered invalid foreign overdue claims totalling $2.4 billion, which have pressured the naira for long and spooked the currency market, central bank…
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Wema Bank Rewards 116 Customers With N8m
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…
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Mastercard, Boost To Launch Digital Wallets For SMEs
Mastercard has collaborated with Boost to provide digital payment wallets and embedded supply chain finance to empower and expand small businesses in the Fast-Moving Consumer Goods sector in…
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French Firm Bid To Acquire Multichoice For $1.7bn
A French company, Canal+, has offered to acquire South African pay-TV giant MultiChoice for around R31.7bn ($1.7bn). Canal+ is a French premium television channel launched in 1984. It…
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NNPCL To Complete Warri Refinery Q1
The mechanical completion of the Warri Refining and Petrochemical Company is scheduled for completion in the first quarter of this year, the Nigerian National Petroleum Company Limited has…
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Naira Rebounds As Banks Offload Excess Dollars
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…
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Petroleum Minister Lambasts Media For Revealing Tinubu’s Personal Stake In Shell-Eni Deal, Describes Exposé As Unpatriotic
Nigeria’s junior petroleum minister, Heineken Lokpobiri, launched a scathing attack on media outlets for revealing former Lagos State Governor Chief Bola Tinubu’s involvement in the controversial Shell-Eni deal…
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Electricity Consumers Increase To 11.71m In Q3 2023 – NBS
The number of electricity consumers rose by 240,000, from 11.47 million in the second quarter of 2023 to 11.71 million in the third quarter of 2023. The National…
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CBN Orders Banks To Sell Excess Dollars In 24 Hours
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 dollar stock latest…
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Nigerian Bank Appoints Femi Otedola As Board Chairman
The First Bank of Nigeria (FBN) Holdings has appointed billionaire businessman Femi Otedola as the new chairman of its board of directors. He succeeds the outgoing Chairman of…