Business

Former President, Chief Olusegun Obasanjo, has reiterated Nigeria’s vast potential and resources, emphasizing the country’s ability to become a global leader. Speaking at the ongoing Ecobank Design and Build Expo at the Ecobank Pan African Centre (EPAC) in Lagos, Obasanjo praised Ecobank for organizing the event, which highlights the architecture, building,  construction and design sectors. During his visit, Chief Obasanjo…

The Securities and Exchange Commission (SEC) has warned the public not to transact any business with Marino FC Limited as the company is not registered by the Commission operate in any capacity in the capital market in Nigeria. This was contained in a notice by the SEC in Abuja Wednesday. According to the Commission, “We hereby notify the public that…

The Ogun State Chamber of Commerce, Industry, Mines, and Agriculture (OGUNCCIMA) has praised the monumental contributions of Dangote Refinery to Nigeria’s economy and its role in revitalizing the private sector.  This flagship industrial project has not only reshaped the country’s energy landscape but has also created opportunities for private enterprises and driven sustainable economic growth. Speaking on behalf of OGUNCCIMA,…

The Central Bank of Nigeria (CBN) on Tuesday pegged the minimum foreign exchange trade on the Electronic Foreign Exchange Matching System (EFEMS) platform at $100,000,   with an incremental clip sizes of $50,000, directing banks to deploy and go live in the use of the Bloomberg BMatch as the EFEMS   for trading activities in the forex market effective December 2nd, 2024.…

The Nigerian National Petroleum Company (NNPC) Ltd. has fulfilled its pledge of re-streaming the Port Harcourt Refining Company (PHRC), signaling the commencement of crude oil processing from the plant and delivery of petroleum products into the market. Chief Corporate Communications Officer, NPC Ltd., Mr. Olufemi Soneye in a statement on Tuesday, said trucks began loading petroleum products which include Premium…

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday voted to raise the Monetary Policy Rate (MPR) by 25 basis points to 27.50 per cent from the previous 27.25per cent. This decision was made to address persistent inflationary pressures. The members also voted to retain the asymmetric corridor at +500basis points/-100basis points ; retain the…

The Nigerian National Petroleum Company Limited (NNPCL) on Tuesday, November 26, announced that the Port Harcourt Refinery has commenced operations. Its Chief Corporate Communications Officer Mr Olufemi Soneye disclosed this in a message to The Nation. He said: “A Historic Milestone: Port Harcourt Refinery Begins Operations. “Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences…

The Central Bank of Nigeria (CBN) has extended the deadline for the recapitalisation of Bureau De Change (BDC) operators from December 3, 2024, to June 3, 2025. President of the Association of Bureaux De Change of Nigeria (ABCON), Aminu Gwadabe disclosed the extension during an emergency virtual general meeting held by ABCON for its members. He explained that the CBN…

…Dangote Cement, Refinery win Sectoral, Groundbreaking investment awards In a blitz of honour, the Pan-Africa Conglomerate, Dangote Industries Limited (DIL), and its subsidiaries Dangote Cement Plc and Dangote Refinery and Petrochemicals stole the show at the weekend in Lagos when they carted away excellence awards bestowed by the private sector employers’ body, Nigeria Employers Consultative Association (NECA) during its 2024…

Amid domestic and foreign macroeconomy challenges, Guaranty Trust Holding Company Plc (GTCO), and five other big Deposit Money Banks (DMBs) operating in Nigeria and other Sub-Saharan Countries in Africa generated an estimated N4.15 trillion profit before tax in nine months of 2024. This is about 110.4 per cent increase from N1.97 trillion profit before tax generated in nine months of…