Business

A report by FMDQ Exchange revealed that the total inflows into the Foreign Exchange Market declined by 12.9per cent month-on-month (m/m) to $4.12 billion in February 2025 from $4.74 billion reported in January 2025.  According to the report, the decline in total inflows into the foreign exchange market was driven by a broad-based decline across foreign (50.1per cent of total…

Fraudsters on Saturday sent Short Message Service (SMS) to Nigerians to access N450,000 NIRSAL Microfinance Bank (MfB) Non-interest targeted credit facility (TCF) household loan. SMS obtained by WESTERN POST linked victims to a website not connected to NIRSAL MfB with a demand to provide account details, National Identification Number (NIN) and Biometric Verification Number (BVN) before accessing the loan. The…

The Nigerian National Petroleum Company (NNPC) Gas Marketing Ltd, a subsidiary of the NNPCL, and its Unincorporated Joint Venture partner, NIPCO Gas Ltd, have executed a Gas Sale and Purchase Agreement (GSPA) with Ssonic Petroleum Ltd to supply 80million standard cubic feet per day (mmscf/d) natural gas to the company’s proposed Liquefied Natural Gas (LNG) plant in Lekki Free Trade…

Restoration of National Theatre: Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso (Middle) flanked by two of his Deputies, Ms. Emem Usoro (Corporate Services) and Mr. Phillip Ikeazor (Financial System Stability), and members of the Bankers’ Committee after a tour of the iconic National Theatre, Iganmu, Lagos on Thursday The National Theatre was renovated by the CBN…

The Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso on Thursday has said revamping the National Arts Theatre would be a spur to unlocking the estimated $25 billion value of Nigeria’s creative sector. Speaking in Lagos during a tour of the refurbished National Arts Theatre, a project undertaken in partnership with the Bankers’ Committee, Cardoso highlighted its potential…

The Securities and Exchange Commission (SEC) has warned the public that activities of Promiseland Estates Limited and Promiseland Building & Construction Limited which hold themselves out as Investment Advisers/Fund Managers in the Nigerian Capital Market and promote an illegal investment scheme called “PRO-VEST”. The Commission, however, stated that  Promiseland Estates Limited and Promiseland Building & Construction Limited are not registered…

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun on Thursday paid a courtesy visit to the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mr. Mele Kyari in his office in Abuja. 

The Central Bank of Nigeria (CBN) has revealed that Naira at the official foreign exchange rate depreciated by 0.1per cent to N1,520.00 against the dollar on Thursday from N1,505 against the dollar it closed on Wednesday.  Accordingi to CBN, the Naira reached a highest and lowest value of N1,520 and N1,505 against dollar, respectively.  However, the overnight lending rate expanded…

Dangote Industries Limited, (Dangote Group), and its subsidiaries has disclosed that it paid over N402 billion in taxes in 2024, making it the highest taxpayer in the country. Dangote’s Chief Branding and Communication Officer, Anthony Chiejina, declared during a meeting with some senior media executives who visited him in his Lagos Office that Dangote Industries Limited (DIL) and its subsidiaries,…

The Minister of Women Affairs, Hajia Imaan Sulaiman -Ibrahim has called on all stakeholders to take immediate and decisive action in empowering women through financial literacy and inclusion. The minister said this at an event to commemorate the International Women’s Day with the theme, “Accelerate Action” – Empowering Women Through Financial Literacy & Inclusion.” The event, organized by the Securities…