Business
Aliko Dangote’s wealth soars to $28bln as his oil refinery comes on stream
Aliko Dangote, Africa’s richest man, has seen his wealth more than double to $28 billion following the long-awaited opening of his Nigerian oil...
Naira Defies Global Trends, Appreciates 5.7% Against Dollar
The Nigerian naira staged a surprising comeback on Monday, appreciating 5.7 percent against the US dollar at the official market, despite the dollar...
Naira appreciates 4.49% against the dollar, closing at N1,561.76
The Nigerian naira strengthened significantly against the US dollar on Tuesday, closing at N1,561.76 in the official Investor and Exporter (I&E) window. This...
Nigeria’s foreign investment surges by 152% in Q2 of 2024
Nigeria’s foreign investments, also known as capital importation, have seen a significant boost in the second quarter of 2024, rising by 152.81 percent...
African oil-producing nations secure 45% of $5bln Energy Bank funds
Afnations have made significant progress in establishing the Africa Energy Bank (AEB), securing 45% of the required $5 billion startup capital. The bank,...
FG’s fresh fiscal incentives to attract $10bln to oil and gas sector – Edun
The Federal Government unveiled fresh fiscal incentives to enhance Nigeria’s oil and gas industry’s competitiveness, setting it up for a major boost. Mr....
UNGA 79: Creative Economy Ministry promotes investmemt drive,secures $200mn Afreximbank fund
The Federal Ministry of Arts,Culture and Creative Economy(FMACCE) had at the just concluded United Nations General Assembly (UNGA) in New York promoted investment...
UBA reports impressive 39.6 percent growth in gross earnings for first half of 2024
The United Bank for Africa (UBA) has announced a remarkable 39.6 percent growth in gross earnings for the first half of 2024, increasing...
FirstBank CEO, Alebiosu, at UNGA ’79, harps on financial inclusion in poverty eradication
In an exclusive interview with Arise TV on the sidelines of the 79th United Nations General Assembly in New York, The CEO of...
Naira Plummets to N1,658.48 After Central Bank Raises Interest Rates
The Nigerian naira suffered a significant decline on Tuesday, dropping by 5.8% to N1,658.48 against the US dollar on the official foreign exchange...
For the umpteenth time, CBN raises interest rate by 50 basis points to 27.25%
For the fifth time, the Central Bank of Nigeria (CBN) has announced another increase in its Monetary Policy Rate (MPR), raising it to...
FirstBank Sponsors Maiden Edition of Nigerian Fintech Festival Event in Lagos
The inaugural edition of the Nigerian Fintech Festival, the biggest fintech festival in Nigeria, sponsored by FirstBank, West Africa premier financial institution and...
Coca-Cola to invest $1bln in Nigeria, Tinubu promises investors zero red tape, friendly financial system
Coca-Cola has pledged to invest $1 billion in Nigeria over the next five years, just as President Bola Tinubu reassured investors of his...
Nigeria’s inflation rate drops to 32.15% – NBS
Nigeria’s inflation rate has dropped to 32.15% in August from 33.40% in July 2024. The National Bureau of Statistics (NBS) reported this in...
CBN directs payment service providers to begin PoS transaction tracking
The Central Bank of Nigeria (CBN) has released a new directive to Payment Service Providers (PSPs), requiring them to comply with enhanced routing...
Nigeria’s cable market growth may surpass current N200bln value, says Zobis Cable Boss, Ezeobi
By Emmanuel Ndukuba, Awka Engr. John Ezeobi, the Chairman of Zobis Electrical Wires and Cable, has decried the activities of importers of substandard...
