Business

Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has blamed excessive printing of the naira and other policies initiated by his predecessor, Godwin Emefiele, for the country’s current economic situation. He also cited the fall in oil prices in the international market as another cause of the problem. Cardoso stated this on Tuesday at a press conference at the end …

State Radio here has taken local distributor of cabled television Consolidated Group Incorporated, an agent of DSTV Liberia to task for not up-linking its broadcast. By Lincoln G. Peters  Monrovia, Liberia, September 23, 2024 – Consolidated Group Incorporated, an agent of DSTV Liberia headed by renowned Liberian Politician and businessman Simeon Freeman, is currently being muscled by the Government of …

The equity market started the week on a positive note on Monday, September 23, 2024 as investors gained N79 billion at the close of trading on the floor of the Nigerian Exchange Group (NGX). This follows a surge in stock prices such as MC Nichols, Fcmb, Fidelity Bank and others on the trading floor. After five hours of trading in …

The Infrastructure Concession Regulatory Commission (ICRC) has assured all stakeholders that construction of the $3.5 billion Bakassi deep seaport will commence soon. The development of seaports, agro value chain ports that will explore the potential of the national agricultural sector in the South-South region of Nigeria, the northern region and other parts of Africa will be implemented as a Public-Private …

Investors in the Nigerian equity market enjoyed a profitable trading session on the floor of the Nigerian Exchange Group (NGX) last week. The exchange recorded gains in three of the four trading days of the week while market capitalization rose to N56.46 trillion from N56.00 trillion the previous week. Monday, September 16 was declared a public holiday by the Federal …

The average price of 5kg cooking gas increased from N5,974.55 recorded in July to N6,430.02 last month. This was disclosed by the Central Bureau of Statistics (BPS) in its August 2024 “Cooking Gas Price Monitor” released on Sunday in Abuja. The report said August prices showed an increase of 7.62 percent compared to the prices obtained in July. The NBS …

The Lekki Peninsula stands out as a hub of modernity and luxury. Over the past decade, Lekki has transformed from a quiet residential area into a sought-after destination for locals and expats alike. This transformation has been driven largely by the emergence of world-class restaurants and bars that have put Lekki on the map as a culinary hub. In this …

Investors in the Nigerian capital market gained N140 billion at the close of trading on Friday. This follows a surge in the prices of shares such as Fidson, Meyer and Caverton among others on the trading floor. After five hours of trading in the capital market, equity capitalization increased to N56.4 trillion from N56.3 trillion recorded by the bourse on …

Former Chairman of the Nigeria Economic Summit Group (NESG), Kyari Bukar, on Friday lamented that the inefficiency and bureaucracy of the Nigeria Customs Service and other agencies such as the Nigerian Ports Authority (NPA) were costing Nigeria trade volumes to the ports of neighboring Benin Republic. He noted that a large volume of international shipments now enter Nigeria through ports …

The Central Bank of Nigeria (CBN) has denied it will reintroduce a controversial cybersecurity levy that was previously suspended. The denial was contained in a statement entitled “Clarification Regarding the Guidelines for Monetary Policy, Credit, Foreign Trade, and Foreign Exchange for the 2024-2025 Fiscal Year (Monetary Policy Circular No. 45) released by Bank Indonesia on Friday, September 20, 2024. On …