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Business - Page 539

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

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Business

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

The revenue of foreign airlines blocked from repatriation by the Nigerian government has increased to $743 million as of the end of January 2023. According to the International Air Transport Association (IATA), the amount rose from $662 million recorded two months ago.

March 15, 2023

Nigeria's GDP Growth Hit 2.51% In Second Quarter 2023 - NBS Reports

Business·News·Top Stories

Q1 GDP May Drop By N15 Trillion On Cash Crunch – Yemi Kale

Former Statistician-General of the National Bureau of Statistics (NBS), Dr Yemi Kale, expects Nigeria’s nominal Gross Domestic Product (GDP) in first quarter (Q1) of 2023 to drop by as much as N10-15 trillion due to the naira policy and difficulty sourcing cash

March 14, 2023

Business·Markets

Sell-Off in Wema Bank, Chams, Others Cost Stock Investors N35.66 billion

The market capitalisation of the Nigerian bourse settled at N30.35 trillion after trading hours on Tuesday, 14 March 2023. Investors lost N35.66 billion when today’s equity capitalisation is compared to the N30.39 trillion recorded the previous day. This was after the All-Share

March 14, 2023

AMA News·Business

African Media Agency and Africa Fintech Summit Announce Partnership to Promote Fintech Innovation in Africa

ABIDJAN, Côte d’Ivoire, 14 March 2023, /African Media Agency/- African Media Agency (AMA) and Africa Fintech Summit (AFTS) are pleased to announce a strategic partnership aimed at increasing awareness about the fintech industry’s innovation in Africa and promoting the upcoming summit throughout the continent. The partnership

March 14, 2023

Naira Opens Week With Gain Across FX Markets

Business·Currency

Naira Depreciates, As Several Factors Support Rise In Dollar Rate

The value of the Naira depreciated further in the official market on Monday, 13 March 2023, as the United States Dollar strengthened in the foreign exchange (forex) market. At the close of trading, it costs N461.67/$1 to exchange both currencies in the

March 14, 2023

AMA News·Business

SAP Young Professionals Program delivers work-ready tech skills to boost East and West African industries

LAGOS, Nigeria, 14 March 2023 -/African Media Agency(AMA)/- The latest cohort of candidates for the SAP Young Professionals Program (as part of Skills for Africa) has graduated, providing a welcome boost to the digital transformation efforts of organisations in East and West Africa. A

March 14, 2023

Business

CBN Places Service Restriction On PoS Agents Across Nigeria

The Central Bank of Nigeria (CBN) has reiterated some operations that mobile banking agents are not allowed to offer, as their population increases across the country. In an Exposure Draft of the Regulatory Framework for Agent Banking in Nigeria, the CBN said

March 14, 2023

Business·News

#IWD: Nova Merchant Bank Pledges Support To Women Embracing Technology In Nigeria

NOVA Merchant Bank, one of the leading banks in Nigeria, has pledged to promote gender equality by supporting women who embrace technology skills, especially in our ever-evolving world. The bank made the pledge during the 2023 NOVA International Women’s Day (IWD) conference

March 14, 2023

Business

Silicon Valley Bank UK Subsidiary Acquired By HSBC

Silicon Valley Bank’s UK operations have been acquired by Hongkong and Shanghai Banking Corporation Limited (HSBC), preventing contagion from its parent company in the United States. The deal between Hongkong and Shanghai Banking Corporation Limited and Silicon Valley Bank’s UK subsidiary was

March 14, 2023

CBN Denies Discriminating Against People With Physical Disabilities Seeking Job

Business

CBN Finally Addresses Supreme Court Order Publicly, Succumbs To Pressure On Old Naira

The Godwin Emefiele-led Central Bank of Nigeria (CBN) has succumbed to the Supreme Court order which states that old N500 and N1,000 remains legal for 10 months. In a statement released by the central bank’s Director of Communication, Isa Abdulmumin, it was

March 14, 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 539

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

Shutdown Looms, As Nigerian Gov’t Blocks $743 million Belonging To Foreign Airlines

Q1 GDP May Drop By N15 Trillion On Cash Crunch – Yemi Kale

Sell-Off in Wema Bank, Chams, Others Cost Stock Investors N35.66 billion

African Media Agency and Africa Fintech Summit Announce Partnership to Promote Fintech Innovation in Africa

Naira Depreciates, As Several Factors Support Rise In Dollar Rate

SAP Young Professionals Program delivers work-ready tech skills to boost East and West African industries

CBN Places Service Restriction On PoS Agents Across Nigeria

#IWD: Nova Merchant Bank Pledges Support To Women Embracing Technology In Nigeria

Silicon Valley Bank UK Subsidiary Acquired By HSBC

CBN Finally Addresses Supreme Court Order Publicly, Succumbs To Pressure On Old Naira

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