Airtel Africa, BUA Foods, and 11 others have officially joined the elite trillionaire club as of the beginning of 2025, analysis by BusinessDay has shown. Last year was tough for companies in Africa’s fourth biggest economy due to the spike in diesel prices, combined with foreign exchange losses and high […]

The Naira yesterday depreciated to N1,670 per dollar in the parallel market from N1,660 per dollar on Tuesday. Similarly, the Naira depreciated to N1,550 per dollar in the official foreign exchange market. Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate for Nigerian Foreign Exchange Market (NFEM) […]

The Central Bank of Nigeria has sanctioned nine Deposit Money Banks with fines totalling N1.35bn for failing to ensure cash availability via Automated Teller Machines during the festive season. Each of the banks was fined N150m following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines. The […]

The Nigeria Football Federation (NFF) has named Éric Sékou Chelle, former coach of Mali’s national team, as the new head coach of the Super Eagles, News360 Nigeria reports. Chelle becomes the third manager to helm the team since José Peseiro’s resignation in March 2024. The NFF officially confirmed Chelle’s appointment on Tuesday, […]

Presco Plc, Nigeria’s biggest palm oil maker, is set to raise N100 billion in Series 1 of its N150 billion bond programme. This would mark the largest corporate bond issuance in the industry. The bond will have a 7-year tenure with a yield range of 23.25 percent to 23.75 percent. […]

The National Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has called on President Bola Tinubu’s administration to take decisive steps toward tax reform, including reducing corporate taxes to 19% and pegging Value Added Tax (VAT) at 7.5%. This is contained in a statement signed by the association’s […]

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has justified its earlier request that the Federal Government authorize a N100 billion intervention fund to help stabilize the petroleum products market and make them more accessible to Nigerians. Dr. Billy Gillis-Harry, President of the association, spoke on Arise TV’s […]

The Nigerian National Petroleum Company Limited (NNPCL) has extended an invitation to former President Olusegun Obasanjo for a tour of the Port Harcourt Refinery to verify its operational status. This development follows Obasanjo’s recent interview with Channels Television, where he cited advice from Shell Petroleum Development Company (SPDC) suggesting the refinery […]

https://www.youtube.com/watch?v=kttlZqu0AsQ Former President Olusegun Obasanjo has recounted how the Nigerian National Petroleum Corporation (NNPC) rejected a $750m offer by billionaire business tycoon Aliko Dangote to manage the Port Harcourt & Kaduna refineries back in 2007. Obasanjo stated this during an exclusive interview with Channels Television. He said the NNPC, now […]