The private sector business condition in Nigeria has plummeted amidst the naira scarcity, a monthly report by Stanbic IBTC has shown. In the report, Stanbic IBTC Bank Nigeria stated that the Purchasing Managers Index sank to 44.7 in February of Read more…
Allegations of six-figure bribes, shady middlemen and fabricated evidence featured in the $11 billion UK trial ending this week that could cost Nigeria a third of its foreign reserves. Africa’s biggest economy wants the UK High Court to strike down Read more…
Justice Chukwuejekwu Aneke of the Federal High Court, Lagos has restrained the Chief Executive Officer (CEO) of Seplat Energy Plc, Mr. Roger Brown from parading himself as the firm’s Chief Executive Officer (CEO), pending the determination of a suit instituted Read more…
In Nigeria, citizens have taken to the streets to protest the nation’s cash shortage, further objecting to their government’s implementation of a central bank digital currency (CBDC). The shortage came about due to cash restrictions aimed at pushing the country Read more…
The Black Sea “grain deal” arranged last August is not working as intended, because the grain from Ukraine is not going to the needy countries of Africa and Asia, while the West continues to block all Russian food and fertilizer exports, the Read more…
The management of Guaranty Trust Bank has debunked a report that it gave the presidential candidate of the All Progressives Congress, Asiwaju Bola Tinubu, N500m naira new notes on the eve of the presidential and national assembly election. The bank Read more…
Traders in the FCT markets are reducing the prices of their goods for customers paying with cash to enable them to make sales. The traders who spoke with the News Agency of Nigeria (NAN) in Abuja on Monday, in some Read more…
The Central Bank of Nigeria has appointed Dr Isa Abdulmumin as its acting director of Corporate Communications Department. Abdulmumin, formerly a deputy director, took over from Osita Nwanisobi, who retired from the bank on Friday, after serving as the director Read more…
President Muhammadu Buhari recently directed the Central Bank of Nigeria (CBN) to release old N200 notes into circulation to co-exist with new N200, N500 and N1,000 banknotes for 60 days.He, however, said old N500 and N1,000 banknotes are no longer Read more…
Power distribution companies have stepped up the quantum of electricity load allocation that they receive and distribute to consumers across the country, as the latest data from the Federal Government showed a reduction in the amount of unutilised energy by Read more…
Three states of Kaduna, Kogi and Zamfara already in legal battle with the federal government over the demonization policy have commenced a contempt proceeding against the Attorney General of the Federation (AGF), Abubakar Malami (SAN) and the Governor of the Read more…
The Economic and Financial Crimes Commission (EFCC) has recovered an additional sum of N900,000,000 for the National Health Insurance Scheme (NHIS). EFCC spokesperson, Wilson Uwujaren, said the sum was part of monies which some deposit money banks (DMBs) fraudulently withheld Read more…