Businesses in Nigeria including manufacturers have been under intense pressure in the last three months following the Nigeria Customs Service’s effort to meet its N5 trillion annual revenue target. While Customs recently declared a 122.35 percent increase in revenue generated in the first quarter compared to the same period last […]

Foreign airlines operating from Lagos to London have continued to drop their fares since Air Peace commenced operations on the route. Airlines such as British Airways (BA), Virgin Atlantic, Qatar Airways, Ethiopian Airlines and others have continued to slash fares on the route as competition is seen to drive price war. BusinessDay had […]

The Association of Bureaux De Change Operators of Nigeria (ABCON) has given its backing to the latest directive by the Central Bank of Nigeria (CBN) on stopping the use of foreign currency denominated-collateral for accessing naira loans. The CBN’s directive banning the use of Non-Export Domiciliary Account Collateral for naira loans will […]

Libya overtook Nigeria to emerge the top African crude oil producer in March, data from the Organization of Petroleum Exporting Countries (OPEC) has shown. The North African country recorded 1.24 million barrels per day (bpd) of crude production in March, a 5.7 increase from 1.17 million bpd in February, according […]

Bank customers who speculatively used dollar-denominated currency as collateral to obtain naira loans are expected to begin massive sales or look for alternatives, from the coming weeks, following the new rule by the Central Bank of Nigeria (CBN). This is expected to boost the naira further. The CBN on Monday […]

Gatwick airport has encouraged passengers to embark on their next journey from London Gatwick to Lagos using Air Peace. In it’s X handle, @Gatwick_Airport, the airport congratulated Air Peace on its inaugural flight to London. “Exciting news! We recently welcomed Nigerian carrier @flyairpeace to the London Gatwick family, flying daily to Lagos. “Perfect for […]

The Federal Government has allocated approximately N4.83 trillion from the proceeds of Nigerian Treasury Bills (NTBs) and Bonds issued in 2024 to settle the Ways and Means Advances from the Central Bank of Nigeria (CBN). This was disclosed by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale […]

The Federal Government recently announced plans to launch a multipurpose national identity card. The card initiative is a collaboration between the National Identity Management Commission (NIMC), the Central Bank of Nigeria (CBN), and the Nigeria Inter-bank Settlement System (NIBSS). The card will be enabled for all government intervention and services across […]

highest in Africa with 15.7m infections Nigeria is among the top 10 countries that account for 80 percent, nearly two-thirds of the global burden of hepatitis B and C, according to a new report on global hepatitis published by the World Health Organization (WHO). The list also includes China, Indonesia, […]

The automobile industry has experienced remarkable growth and transformation over the years, evolving from the horseless carriages of the late 19th century to the electric vehicles of today. The global automobile industry is not only a powerhouse of innovation and economic activity but also a fertile ground for creating wealth. Notable in […]