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Business - Page 535

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants By Dr Marcel Mbamalu In a stunning turn of events, high-profile resignations have rocked Nigeria’s oil sector, leaving many wondering what’s really going on. The sudden exits of Farouk Ahmed and Gbenga

December 22, 2025

Business·News·Technology

Buhari Govt Removes Excise Duty For Telecoms Services

The Federal Government has announced the removal of excise duty for telecom sub-sector of Nigeria’s Digital Economy Industry in line with the recommendations of the Committee it constituted to review the applicability of the Duty to the telecom sector which is considered

March 21, 2023

Business·News·Sports

Saudi’s Sheikh Jassim Set To Pip Ratcliffe For Potential Man United Takeover

Manchester United’s potential takeover could be wrapped up ahead of Wednesday deadline with Sheikh Jassim bin Hamad Al Thani poised to meet the Glazers’ £6billion asking price

March 21, 2023

Naira Ends Week With N59.71 Gain At Official Market

Business·Currency

Dollar Rate Falls, Investors, Exporters Trade $125.66m Foreign Exchange

In the official market, the Dollar rate depreciated by N0.33 kobo, indicating the Naira’s value in the Investors and Exporters window appreciated by 7.15 per cent. The Naira gained against the Dollar on Monday, 20 March 2023, according to data Prime Business

March 21, 2023

Business·Opinion

CBN/MPC’s New Interest Rate Hike: What Does It Mean; How Does It Compare?

It’s like rainy day and I hope the world has made enough savings to take us through the season, as the Monetary Policy Committee (MPC) in Nigeria joins global policy makers in hiking interest rate to new historic-high levels; a measure aimed

March 21, 2023

Business·Oil & Gas

NNPC Appoints Frenchman To Head Its Trading Subsidiary In Nigeria

The Nigerian National Petroleum Company Limited (NNPC) Limited has appointed a former Vice President of the Abu Dhabi National Oil Company, Jean-Marc Cordier, to head NNPC Trading Ltd. In a statement released by NNPC, Cordier will bring his 30 years of experience

March 21, 2023

80% Of Eggs Laid By 76 million Commercial Birds To Waste Over Naira Scarcity

Business

Naira Scarcity: 80% Of Eggs From 76 million Commercial Birds To Waste

Poultry businesses in Nigeria are at risk of losing significant investments over the scarcity of cash that was caused by the Central Bank of Nigeria’s (CBN) Naira redesign policy. Since the deadline to phase out the old N200, N500 and N1,000 notes

March 21, 2023

Eight Controversial Decisions By Godwin Emefiele As CBN Governor

Business

Updated: Emefiele Reveals Reasons CBN Increased MPR/Interest Rate To 18%

The Central Bank of Nigeria (CBN) increased the Monetary Policy Rate to 18 per cent from 17.5 per cent on Tuesday, 21 March 2023, to halt inflation. Governor of the CBN, Godwin Emefiele made this known after the meeting of the Monetary

March 21, 2023

Business·Markets

Ecobank Fined N3.2m, PZ Cussons Slammed With N4.8m Amid Clampdown

Ecobank Transnational Incorporated, PZ Cussons, John Holt and Guinea Insurance Plc have been penalised by the Nigeria Exchange Limited (NGX) for flouting the rules of the Nigerian capital market. The four companies were slammed with N11.65 million fines combined for various offences

March 21, 2023

Business

Four NCAA Top Officials Arrested By EFCC Over N2 billion Fraud

Four top officials working for the Nigerian aviation regulator, Nigeria Civil Aviation Authority (NCAA), are under investigation for alleged N2 billion fraud. The Economic and Financial Crimes Commission (EFCC) is investigating the fraud allegation and has arrested the four officials. According to

March 20, 2023

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

Business·Markets

Stock Market Closes Down, As Ikeja Hotel, Stanbic IBTC Record Losses

On Monday, 20 March 2023, the Nigerian stock exchange closed down by -0.05 per cent, as the market capitalisation lost N15.99 billion. This pushed the equity capitalisation down to N29.89 trillion today, from N29.91 trillion reported on Friday, 17 March 2023. The All-Share

March 20, 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 535

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

Buhari Govt Removes Excise Duty For Telecoms Services

Saudi’s Sheikh Jassim Set To Pip Ratcliffe For Potential Man United Takeover

Dollar Rate Falls, Investors, Exporters Trade $125.66m Foreign Exchange

CBN/MPC’s New Interest Rate Hike: What Does It Mean; How Does It Compare?

NNPC Appoints Frenchman To Head Its Trading Subsidiary In Nigeria

Naira Scarcity: 80% Of Eggs From 76 million Commercial Birds To Waste

Updated: Emefiele Reveals Reasons CBN Increased MPR/Interest Rate To 18%

Ecobank Fined N3.2m, PZ Cussons Slammed With N4.8m Amid Clampdown

Four NCAA Top Officials Arrested By EFCC Over N2 billion Fraud

Stock Market Closes Down, As Ikeja Hotel, Stanbic IBTC Record Losses

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Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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

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Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

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Dollar Trades Flat In Black Market, Appreciates In Official Window

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

Dangote–Farouk Saga: Why Damning Claims Brought Down Oil Sector Giants

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