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The Monetary Policy Committee of the Central Bank of Nigeria has unanimously voted to increase the benchmark interest rate (monetary policy rate) to 15.5% from 14% to curb inflation. CBN Governor, Godwin...

Fidelity Bank Plc has announced its proposed acquisition of a 100% equity stake in Union Bank Plc in the United Kingdom. According to a Press Release signed by Ezinwa Unuigboje, the Company Secretary on...

The Central Bank of Nigeria (CBN) yesterday released $265 million to foreign airlines operating in the country for the remittance of a part of their revenues trapped in the country. A breakdown of the...

The National Bureau of Statistics says Nigeria’s Gross Domestic Product grew by 3.54 per cent in the second quarter of 2022 on a year-on-year basis. This is contained in a statement issued by the Statistician-General...

Nigeria’s inflation rate in the month of July 2022 rose to a 17-year high of 19.64%. This compares to 18.6% recorded in the previous month of June 2022. The latest inflation data is according to the...

The Monetary Policy Committee of the Central Bank of Nigeria has unanimously voted to increase the benchmark interest rate (monetary policy rate) to 14% from 13%. This was disclosed by the Governor of...

The Federal Government yesterday announced the restructuring of five electricity distribution companies(DISCOS) in the country. This was contained in a statement jointly signed by the Executive Chairman...

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted unanimously to raise the Monetary Policy Rate (MPR) to 13 per cent. CBN Governor, Godwin Emefiele, announced this on...

The Board of the Nigerian National Petroleum Company Limited (NNPC) has expressed satisfaction with the progress of work done on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project and believed that the...

The Central Bank of Nigeria has fined four commercial banks a total of N800 million for failing to comply with regulations prohibiting consumers from transacting in cryptocurrencies. According to the CBN,...

The Federal Government has warned that it would no longer condone any form of criminality on the nation’s oil and gas facilities and installations, saying that crude oil thieves, pipeline vandals and...

The Central Bank of Nigeria has revealed that it would stop the sale of foreign exchange to Deposit Money Banks by the end of the year. According to the CBN Governor, Godwin Emefiele, banks must begin...

The Centre for the Promotion of Private Enterprise (CPPE), an economic advocacy group, has identified Dangote Petroleum Refinery as one of the key expected drivers of growth that would impact positively...

Traders in the South East of Nigeria under the aegis of SEAMATA, have strongly criticised and rejected the recent increment in the import duty on cargoes charged by the Nigerian Customs Service. SEAMATA...

Seplat Energy Plc has  announced the decision of its Chairman, Dr. A.B.C. Orjiako to step down from his position as Chairman and from the Board of Directors of Seplat Energy Plc. Dr Orjiako notified...

President Muhammadu Buhari will unveil the Central Bank Digital Currency (CBDC), known as the eNaira, today at the State House, Abuja. The Central Bank of Nigeria (CBN) had in February barred banks and...

Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian and London stock exchanges, has commissioned the project for power supply to Oben Cottage Hospital from its...

An internationally-renowned rating agency, Fitch Ratings, has upgraded Lagos State ratings from AA+ to AAA for its good standing in terms of debt sustainability and resilience. Communicating the development...

Following the Presidential applause for the Nigerian National Petroleum Corporation (NNPC) on its posting of ₦287bn profit after tax in the 2020 financial year, the Group Managing Director, Mallam Mele...

A significant step towards redeeming the pledge by the Nigerian National Petroleum Corporation (NNPC) to intervene in the perennial electric power supply challenge in Maiduguri, Borno State, was taken...