In a move that marks one of its most significant cash-policy overhauls in recent years, the Central Bank of Nigeria (CBN) has officially removed the long-standing limit on cash deposits and raised the weekly withdrawal allowance for individuals to N500,000—a five-fold increase from the previous N100,000 cap. Corporate account...
BUSINESS
National Bureau of Statistics (NBS) has said the average retail price of a litre of petrol witnessed a drop from N1,184.83 in October 2024 to N1,052.31 in October 2025. The NBS made this known in its Petrol Price Watch for October 2025 released in Abuja on Wednesday. It stated...
NNPC Foundation has clinched five top awards at the 19th SERAS Africa Sustainability Awards, including Most Responsible Organisation in Africa (Overall Winner), Best in Decent Work and Economic Growth, Best in Stakeholder Engagement, Best in Poverty Reduction, and the Africa Sustainability Professional of the Year, awarded to the Managing...
National Bureau of Statistics (NBS), has said Nigeria’s Gross Domestic Product (GDP) rate in real terms grew by 3.98 per cent in the third quarter of 2025 on a year-on-year basis. The NBS stated this in the Nigerian Gross Domestic Product Report Q3 2025 released in Abuja on Monday....
Nigeria’s public debt stock increased from N149.38 trillion (97.23 billion dollars) in the first quarter of 2025 to N152.39 trillion (99.65 billion dollars) in the second quarter of 2025. The National Bureau of Statistics (NBS) said this in its Nigerian Domestic and Foreign Debt Report for Q2 2025 released...
Nigerian equities market kicked off the week on a sour note as a wave of selloffs dragged the market into negative territory on Monday, erasing N197 billion in investor wealth in what traders described as an unexpected turnaround. The sharp drop wiped out the gains posted in the previous...
By PAUL ADAJI, Abuja – The Bureau of Public Procurement (BPP), has denied recent allegations circulating in sections of the media, on social platforms, and within certain civil society circles regarding its leadership and operations. The BPP, in a statement issued in Abuja on Saturday, declared that the allegations,...
Senior General Manager, Corporate Communications at Dangote Industries Ltd., Mr Sunday Esan, has said the Dangote Refinery has saved Nigeria more than ₦10 billion annually in foreign exchange by replacing fuel imports with locally refined products. Esan made the disclosure on Thursday in Lagos during the ongoing 2025 Media...
The Chairman/CEO of Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has lauded Mrs. Gozy Ijogun, the CEO of Task Systems Ltd, on the global recognition of Task Systems as winner of the 2025 Microsoft Partner of the Year Award in the United States of America. Dabiri-Erewa said Mrs....
The Mayor of Housing, My-ACE China, has alerted the governments of Rivers, Akwa Ibom, and Abia states to what he calls an emerging ‘Economic Triangle’ within their states. Mr China, a real estate success strategist who has won numerous local and international awards, has thus drawn the attention of...
stock market bounced back by 0.10 per cent on Tuesday, posting a gain of N94 billion for investors. This is after six consecutive sessions of bearish performance. The uptick was due to renewed investors interest in stocks like NCR Nigeria, Ikeja Hotel, Prestige Assurance, Eunisell Interlinked and 19 other...
At a time in the history of Nigeria when its reputation seems to have been slurred, an indigenous tech firm, Task Systems Limited, was honoured in the presence of thousands of global professionals with Microsoft Best Partner Award in California, United States of America. It was a major rebranding...
The Nigerian Content Development and Monitoring Board (NCDMB), has confirmed investigations of a United Arab Emirates (UAE) company, John Crane Middle East FZE. This followed an appeal for intervention from an indigenous company, Cona Engineering and Technical Services. The investigation is to ascertain claims of Nigeria’s Cona Engineering that...
Federal Inland Revenue Service (FIRS) has debunked a statement credited to the former Vice President Atiku Abubakar, that the Nigerian government has handed a private firm, Xpress Payments, monopoly power over revenue collections under the Treasury Single Account (TSA). Reacting to Atiku’s remarks, Technical Assistant on Broadcast Media to...
MTN Group has restated its determination to help deepen the economic corridor between Nigeria and South Africa, describing the relationship as crucial to Africa’s long-term growth. The telecoms giant made the pledge during the Nigeria–South Africa Presidential Trade and Investment Breakfast Dialogue, where government officials and business leaders converged...
Central Bank of Nigeria (CBN) has distanced itself from an organisation operating as Zuldal Microfinance Bank Limited, cautioning Nigerians that the entity is not licensed to conduct any form of banking or microfinance services in the country. In a statement issued by the Acting Director of Corporate Communications, Mrs....
In demonstration of the commitment of the Oluwaseun Faleye-led executive management of the Nigeria Social Insurance Trust Fund (NSITF) to ensuring the Fund delivers on its mandate, the Managing Director and Chief Executive has presented three cheques totalling N75,840,194.73 to beneficiaries in Port Harcourt, Rivers State. Presenting a cheque...
Nigeria’s headline inflation continued its downward trajectory in October, easing to 16.05%, according to the latest Consumer Price Index (CPI) report released on Monday by the National Bureau of Statistics (NBS). The Bureau noted that the figure represents a notable drop from the 18.02% recorded in September. On a...
Dangote Cement Plc has emerged as Nigeria’s top tax-compliant organisation for 2025, following a rigorous assessment conducted by the Federal Inland Revenue Service (FIRS). The company’s Group Head of Tax and Compliance, Mojisola Ogunlade, confirmed the development in a statement issued on Monday in Lagos. She said the award...
Stock market opened the week lower on Monday, as market capitalisation fell by N1.173 trillion or 1.26 per cent. The decline was driven by profit-taking in major stocks, including Dangote Cement, Enamelware, Transcorp Power, AIICO Insurance and Guinea Insurance. Market capitalisation closed at N92.328 trillion, compared with the opening...