Business

Economic hardship: Elumelu to partner MOFI to boost economy

Nigerian philanthropist and Chairman of Heirs Holdings Group, Mr. Tony Elumelu, has expressed readiness to partner with and support the Ministry of Finance...

NSA, CBN join forces to curb illicit activities in forex market

In its bid to strengthen Nigeria’s foreign exchange market, the Office of the National Security Adviser (ONSA) says it has joined forces with...

CBN stops dollar cash payments for BTA, PTA

The Central Bank of Nigeria (CBN) has announced that it will no longer allow dollar cash payments for Business Travel Allowance (BTA) and...

Wigwe’s death: Access Holdings appoints Bolaji Agbede its Ag. CEO

Access Holdings Plc has announced the appointment of Ms. Bolaji Agbede as its Acting Group Chief Executive Officer. This followed the death of...

We must moderate our demands for forex, says Cardoso

The governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has called on Nigerians to cut down on their demands for...

NNPCL, CBN partner for seamless banking operations

In their bid to foster transparency and seamless commercial operations, the Nigerian National Petroleum Company Limited (NNPCL) and the Central Bank of Nigeria...

FG set to disburse N200bln to Nano business owners

Poised to turn around the economic fortunes of Nigeria, the Federal Government has set up three funds amounting to N200 billion. The funds...

E-payment transactions in Nigeria hit historic N600trn in 2023 – NIBSS

Nigeria’s transition to a cashless economy got a significant boost as electronic payment transactions witnessed a dramatic surge from N387 trillion in 2022...

Nigeria’s inflation rate will drop to 21% in 2024, says CBN Gov. Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has guaranteed that despite increasing food and commodity prices, Nigeria’s inflation...

CBN reforms yielding positive results, says Cardoso

Recent reforms introduced by the Central Bank of Nigeria (CBN) are beginning to show positive results in the foreign exchange market, the governor...

GAIN, NCIC award $16,000 to Nigerian innovators for safe, nutritious foods

In a bid to encourage the consumption of safe and nutritious foods in Nigeria, the Global Alliance for Improved Nutrition (GAIN) and the...

CBN uncovers $2.4 bln fraudulent FX backlog of $7 bln outstanding FX claims

The Central Bank of Nigeria Governor, Dr. Olayemi Cardoso, has disclosed that $2.4 billion out of the reported $7 billion outstanding foreign exchange...

Insecurity: Businesses in FCT record 33% drop in revenues – Report

Revenues of businesses in the Federal Capital Territory (FCT) recorded a 33 percent decline between January 2023 and January 2024, a report by...

Femi Otedola is First Bank Holdings board chairman

Nigerian billionaire and investor, Mr. Femi Otedola, has been appointed as the new Chairman of First Bank Holdings board of directors. The holding...

Just in: CBN pumps $500m into forex market, vows to resolve all backlogs soon

The Central Bank of Nigeria (CBN) says it has pumped an additional $500 million into the volatile foreign exchange market to address persistent...

Aliko Dangote’s Wealth soars to highest in decade with Otedola’s investment aid

Nigerian philanthropist and business tycoon, Femi Otedola, said he will add to his purchases of Dangote Cement Plc’s shares after his recent acquisition...