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Business - Page 259

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Exchange Rates For Dollar Increase Across Parallel, Official Markets

In the black market on Thursday, December 18, the naira depreciated against the United States dollar (USD) by 0.13 percent to N1,489.01/$1, from the N1,487.01/$1 reported on Wednesday, December 17. According to Naira Rates data, while the foreign exchange (FX) rate for

December 18, 2025

NDIC Begins Payment Of ₦46.6bn To Heritage Bank Depositors

Business·Opinion

Heritage Bank: What You Didn’t Know

Many Nigerians were caught unawares by yesterday’s revocation of the license of Heritage Bank by the CBN, but among many industry operators, it was widely known

June 6, 2024

AMA News·Business

Swiss-Belhotel International Expands Presence in MENA Region, Signs Agreement for Swiss-Belresidences Rivan in Cairo, Egypt

Continuing its expansion in the Middle East and North Africa (MENA) region, Swiss-Belhotel International, announced today the signing of an agreement for Swiss-Belresidences Rivan, an upscale new residential development, located in Cairo, Egypt. The agreement was formalised at the Swiss-Belhotel International’s regional

June 5, 2024

Business·News

Heritage Bank: FG Opens Online Platform For Depositors To Retrieve Funds From Defunct Bank

The Nigerian Deposit Insurance Corporation (NDIC) has started the liquidation process of Heritage Bank, following the Central Bank of Nigeria’s (CBN) decision to revoke the bank’s licence. The CBN made this announcement on Monday, citing the bank’s financial instability and breach of

June 5, 2024

Nigeria's Equity Market Declines By 1.99% in March Despite Weekly Gains

Business·Markets·News

Profit-Taking Dips Nigerian Equity Market By 0.12% Amid Banking, Insurance Activity

Nigeria’s equity market moved further into negative territory on Tuesday, declining by 0.12 percent as investors took profits in several stocks, including International Energy, UPDC, Unity Bank, and Chams. This drop follows a record negative start to the week, with market watchers

June 5, 2024

Business·News·Politics

Lagos, Kaduna, Abia, 27 Other State Government spent N968.64bn On refreshments, Sitting Allowance, Others In 3 months

Lagos, Kaduna, Abia, and 27 other state governments spent N968.64 billion on recurrent expenditures, including refreshments, sitting allowances, and other costs, in the first quarter of 2024. This spending pattern has raised concerns about financial prudence amid Nigeria’s economic challenges. Significant Recurrent

June 5, 2024

Naira vs Dollar: What To Expect This Week (24th-30th, March 2025)

Business·Markets·News

Naira Stable On More Dollar Sales

The naira remained stable across foreign exchange markets on Tuesday, with a surge in dollar sales by 94.46% at the official market. Despite the fluctuations, the local currency showed resilience, reflecting the dynamics of Nigeria’s foreign exchange market. The naira closed at

June 5, 2024

TUC Warns of Nationwide Strike Over New ATM Withdrawal Fee

Business·News·Politics

Minimum Wage: Labour Union’s N494k Demand Is Not Fixed, Says TUC President

Festus Osifo, President of the Trade Union Congress (TUC), clarified on Tuesday that the N494,000 minimum wage demand is not fixed, emphasizing that organized labor approached negotiations with an ideal scenario in mind. Speaking in an interview on Channels Television on Tuesday,

June 5, 2024

Nigeria’s Oil Production Declines By 33,000 Barrels As OPEC Reports Setback In September

Business·News·Oil & Gas·World News

OPEC Sees Oil Output Rise In May As Nigeria, Iraq Lead Increase- Report

OPEC’s oil production saw a notable increase in May 2024, driven by higher exports from Nigeria and Iraq. According to a Reuters survey released on Tuesday, the Organisation of the Petroleum Exporting Countries pumped 26.63 million barrels per day (bpd) last month,

June 5, 2024

Business·Markets·News

Equity Market Sees Decline As Nigerian Exchange Loses N102 billion

The Nigerian Exchange witnessed a loss on Monday, shedding N102 billion in equity market. This downturn was primarily driven by declines in key stocks such as First Bank of Nigeria Holdings, Seplat Energy, and Transcorp. The All-Share Index dropped by 0.18 per

June 4, 2024

Why Increasing Minimum Wage To At Least N100,000 Is Important - Analysts

Business·News

Minimum Wage Increase: Prepare To Deal with Inflation, Economist Tells FG

Chief Economist and Senior Partner at SPM Professionals, Dr Paul Alaje, has stated that given the present economic realities in Nigeria, workers deserve an increase of their minimum wage but the government should also prepare to deal with inflationary

June 4, 2024

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Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

SEC Orders Full Registration of Tradable Instruments by January 2026

The Securities and Exchange Commission (SEC) has ordered all Capital

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Business - Page 259

Exchange Rates For Dollar Increase Across Parallel, Official Markets

Heritage Bank: What You Didn’t Know

Swiss-Belhotel International Expands Presence in MENA Region, Signs Agreement for Swiss-Belresidences Rivan in Cairo, Egypt

Heritage Bank: FG Opens Online Platform For Depositors To Retrieve Funds From Defunct Bank

Profit-Taking Dips Nigerian Equity Market By 0.12% Amid Banking, Insurance Activity

Lagos, Kaduna, Abia, 27 Other State Government spent N968.64bn On refreshments, Sitting Allowance, Others In 3 months

Naira Stable On More Dollar Sales

Minimum Wage: Labour Union’s N494k Demand Is Not Fixed, Says TUC President

OPEC Sees Oil Output Rise In May As Nigeria, Iraq Lead Increase- Report

Equity Market Sees Decline As Nigerian Exchange Loses N102 billion

Minimum Wage Increase: Prepare To Deal with Inflation, Economist Tells FG

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Business - Page 259

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