Business

As First Bank Plc and Zenith Bank Plc continue to battle service disruptions, the tier 1 banks have warned millions of customers to be alert to the activity of fraudsters who may ask for their details in the guise of helping resolve the issue. In different posts on their social media platforms, banks warned that they will never ask for …

Managing Director of Coleman Wires and Cables, George Onafowokan lamented that it was only in Nigeria that the Customs Service was transformed into an Internally Generated Revenue agency. He even regretted that this was a big mistake. The businessman was one of the guests on Channels Television’s Independence Day special titled, “Nigeria’s Challenging Economy: Strategies For Recovery” on Tuesday. “I …

The National Bureau of Statistics (NBS) said on Tuesday Nigeria imported 20.3 billion liters of Premium Motor Spirit (PMS) also known as petrol in 2023. The NBS stated this in its Petroleum Products Distribution Statistics for 2023 released in Abuja. The bureau added that this figure was 13.77 percent lower compared to 23.5 billion liters in 2022. He added that …

A flight operated by Emirates Airline, the flagship airline of the United Arab Emirates (UAE), landed at Murtala Muhammad International Airport, Lagos, on Tuesday afternoon to mark the resumption of flight operations between the two countries. Flight EK 783, which traveled for more than eight hours, arrived in the country at around 4pm, almost two years after the airline ceased …

President Bola Tinubu has commended the disciplined approach adopted by the Central Bank of Nigeria (CBN) to monetary policy management which he said is responsible for ensuring stability and predictability in the foreign exchange market. This discipline, he said, has led to the growth of the country’s foreign exchange reserves to over $37 billion from the inherited $33 billion but …

There are indications that the $1.28 billion divestment of ExxonMobil’s assets in Nigeria to Seplat Energy will receive ministerial approval in the next few days. President Bola Tinubu announced this in his independence day speech, while emphasizing the government’s commitment to facilitating a smooth transition of the deal, which has become a focal point in Nigeria’s economic strategy. He reiterated …

The Nigerian equity market started the week positively on Monday September 30, 2024 as investors made N57 billion at the end of trading on the floor of the Nigerian Exchange Group (NGX). This follows a surge in share prices, including AFRIPRUD (Africa Prudential Plc), ABBEYBDS (Abbey Mortgage Bank Plc) and NSLTECH (Secure Electronic Technology) on the trading floor. After five …

In a significant move to reduce pressure on the road network and facilitate exports to other African countries, Dangote Group has announced plans to transport refined petroleum products by sea. This development was revealed by Fatima Wali-Abdurrahman, Senior Adviser to the Group President on Special Projects and Strategic Relations, in her statement, Sunday. The company has built a jetty in …

Minister of Foreign Affairs, Am. Yusuf Tuggar, said on Sunday Nigeria would not push for debt forgiveness from China, its biggest lender. Tuggar, appearing on Channels Television’s Sunday Politics program, said the Federal Government would be willing to take new loans from major Asian countries. This, he said, is based on the country’s low debt to Gross Domestic Product (GDP) …

The Liberia Electricity Regulatory Commission (LERC) Board of Commissioners (BoC) is currently reviewing Jungle Energy Power’s (JEP) electricity tariff applications for Nimba and Bong counties. On September 25 and 27, the Commission held two separate public hearings in Bong and Nimba counties to solicit the inputs and recommendations of customers and electricity users. During each hearing, more than 100 stakeholders, …