Business

The Nigerian Deposit Insurance Corporation (NDIC) has disclosed that 99 per cent of Heritage Bank depositors have total balances of less than N5m. The Managing Director of the NDIC, Bello Hassan, made the disclosure on Wednesday in…

Nigerian music superstar Davido's foray into the cryptocurrency world has taken a dramatic turn, with his newly launched token, $Davido, experiencing a staggering 93% value decline within a day of its debut. This sharp drop raises…

The Nigerian economy is showing signs of growth with a Gross Domestic Product growth rate of 2.98 per cent in the first quarter of 2024, according to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun. The…

Tony Elumelu, the chairman of Transcorp Group, says power theft is a setback for distribution companies (DisCos) in the country. Speaking at the firm’s annual general meeting (AGM) in Abuja on Monday, Elumelu said DisCos also suffer…

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says the pains caused by ongoing monetary and fiscal reforms will soon be over if Nigerians remain focused on supporting the policies. Cardoso, represented by Blaise…

DStv and GOtv customers in Nigeria have been notified to expect disruption in service from Sunday, May 5, to Tuesday, May 7, due to the ongoing construction project on the Lagos-Calabar Coastal Highway. In a notice shared on social…

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has advised the federal government to stabilise the naira at its true market value. Moghalu spoke in a statement on Tuesday. On April 15, naira…

A Nigerian court has put a temporary hold on MultiChoice Nigeria Limited's planned increase in subscription prices for its DStv and GOtv services. The Competition and Consumer Protection Tribunal (CCPT), sitting in Abuja, issued an…

The Central Bank of Nigeria (CBN) has taken a controversial step in its fight against alleged illicit foreign exchange (forex) transactions. The regulatory body has ordered four fintech companies – OPay, Palmpay, Kuda Bank, and…

The telecommunications companies operating in Nigeria notably Glo, MTN, Airtel and 9Mobile are asking the federal government to facilitate constructive dialogue in the industry. According to the telcos, the current price control…

Dangote Petroleum Refinery on Tuesday announced a further reduction in the prices of both diesel and aviation fuel to N940, and N980 per litre respectively. This is coming in the wake of its widely celebrated price reduction to…

The Central Bank of Nigeria (CBN) governor Yemi Cardoso says the apex bank’s FX reforms have made the naira the best-performing currency globally. Nigeria’s currency lost massively against major currencies in the past few months.…

Nigerian Breweries says some employees will be affected by the company’s cost savings measures adopted to improve its finances. Cost savings measures were adopted by Nigerian Breweries following the N106 billion net loss reported in…

Zacch Adedeji, chairman of the Federal Inland Revenue Service (FIRS), says the newly inaugurated national single window (NSW) project is a catalyst for achieving an average gross domestic product (GDP) growth rate of 7 percent annually…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, says the Nigerian economy is moving in the right direction as policies of the new administration has started slowing down food inflation. The minister spoke…