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Business - Page 358

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond under the Presidential Power Sector Debt Reduction Programme, raising N590 billion to settle verified arrears owed to power generation companies and gas suppliers. The bond, guaranteed by the full faith and credit

December 21, 2025

I Never Said I’ll Be Vice President To Anyone – Obi

Business·News

Peter Obi Reacts To P&G’s Exit From Nigeria, Reveals Why Foreign Investors Are Leaving

Labour Party’s presidential candidate in the February 25 election, Peter Obi, has adduced reasons why foreign businesses are shutting down operations in Nigeria to include negative medium to long-term prospects strategy, unattractive investment profile and a continuous deteriorating business environment. Obi, who

December 8, 2023

Business·News·World News

Amazon Files Lawsuit Against Global Scam Ring Over Refund Fraud

In a move to combat an international scam, Amazon has initiated legal action against, REKK, for allegedly orchestrating a refund scam that targeted the e-commerce giant, leading to millions in losses. The lawsuit, filed in a U.S. District Court in Washington, implicates

December 8, 2023

How Loss Of Over $5 Trillion In U.S. Stock Exchange Affects Nigeria

Business·Markets·News

FBN Holdings’ Losses Reverse SWOOT Club Entry As NGX Market Cap Dips To N39.1trn

The Nigerian Exchange Group (NGX) witnessed a dip in market capitalization, sliding to N39.103 trillion following a 0.49% decline. The reversal saw equities shedding N192 billion in value, marking a downturn from the previous day’s gains. The most striking shift came from

December 8, 2023

Court Jailed Fraudster Of Defrauding 34 Victims In 13 Countries Of $592,000

Business·News

Court Jails Fraudster Of Defrauding 34 Victims In 13 Countries Of $592,000

Justice J.K Omotosho Federal High Court in Abuja has convicted and sentenced Eze Harrisson Arinze of defrauding 34 victims across 13 countries, swindling them out of $592,000. Arinze faced a re-arraignment on a single count charge that encompassed impersonation and obtaining funds

December 8, 2023

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Business·Currency·News

Naira Gains 12.83% Against Dollar, Closes At N843/$1 Amid Forex Dynamics

In a turnaround, the Nigerian Naira staged a robust recovery against the dollar on Thursday, skyrocketing by 12.83% at the official market, reclaiming ground after its plunge. “Confidence makes foreigners want to come to invest in your country and make locals want

December 8, 2023

Business·News

NPA Reveals $161 Million Loss From INTELS Withdrawal In Pilotage Management

The Nigerian Ports Authority (NPA) disclosed a monetary loss totaling $161 million incurred by the Federal Government due to the withdrawal of Integrated Logistics Services Nigeria Limited (INTELS) from pilotage management. According to a statement released on Sunday by NPA, this loss stemmed from

December 7, 2023

Business·News

Budget 2024: N27.5trn Proposal Small To Meet Nigeria’s Economic Obligations, Claims DG

Amidst the unveiling of Nigeria’s 2024 budget proposal totaling N27.5 trillion, Ben Akabueze, the Director-General of the Budget Office of the Federation, has voiced concerns that the allocated amount falls short of addressing the nation’s pressing economic demands. In an interview with

December 7, 2023

The Alternative Bank, AltMall Offers Customers Exclusive Seasonal Product

Business·News

The Alternative Bank’s AltMall Offers Customers Exclusive Seasonal Product

As the festive season approaches, The Alternative Bank has announced an offer of a cutting-edge financial product that aims to improve the holiday season for customers. This Alternative Bank’s AltMall, allows customers to instantly acquire desired items and pay in manageable instalments,

December 7, 2023

National Assembly Beats Tinubu’s Timeline On 2024 Budget But Raises Estimates By N1.2trn

Business·News

2024 Budget: Nigerian Govt To Spend N346bn On Presidential Vehicles, Meals, Others As Civil Societies Lament

In a jaw-dropping revelation, the Nigerian Federal Government’s 2024 budget allocation has sparked widespread concern as it earmarks N346 billion for luxurious expenditures, including presidential vehicles, meals, air fleets, and various other expenses. This eyebrow-raising allocation comes at a time when the

December 7, 2023

Business·News·Oil & Gas

NNPC Seals LNG Deals To Fuel Domestic, International Markets

The Nigerian National Petroleum Company Limited (NNPC) has inked an agreement to supply Liquefied Natural Gas (LNG) to both the domestic and international markets. These landmark deals were formalized during separate signing ceremonies held on the sidelines of the United Nations Climate

December 7, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

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

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Business - Page 358

Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

Peter Obi Reacts To P&G’s Exit From Nigeria, Reveals Why Foreign Investors Are Leaving

Amazon Files Lawsuit Against Global Scam Ring Over Refund Fraud

FBN Holdings’ Losses Reverse SWOOT Club Entry As NGX Market Cap Dips To N39.1trn

Court Jails Fraudster Of Defrauding 34 Victims In 13 Countries Of $592,000

Naira Gains 12.83% Against Dollar, Closes At N843/$1 Amid Forex Dynamics

NPA Reveals $161 Million Loss From INTELS Withdrawal In Pilotage Management

Budget 2024: N27.5trn Proposal Small To Meet Nigeria’s Economic Obligations, Claims DG

The Alternative Bank’s AltMall Offers Customers Exclusive Seasonal Product

2024 Budget: Nigerian Govt To Spend N346bn On Presidential Vehicles, Meals, Others As Civil Societies Lament

NNPC Seals LNG Deals To Fuel Domestic, International Markets

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