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Category: Business
CBN recapitalization: 20 Nigerian banks raise N4.05trn — Cardoso gives updates
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has disclosed that 20 Nigerian banks have successfully raised a total of N4.05 trillion…
CBN interest rate cut triggers N1.141trn loss at NGX
Investors on the Nigerian equities market suffered a major setback on Tuesday, losing N1.141 trillion in market value after the Central Bank of Nigeria reduced…
Nigerian Naira will appreciate to N1,000 per dollar in coming weeks – Tinubu
President Bola Ahmed Tinubu has said the naira will appreciate to N1000 per dollar in the coming weeks. The president disclosed this in his remarks…
MPC’s modest rate cut sends positive signal – OPS
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has reduced the benchmark interest rate to 26.5 per cent, a move members of…
NNPC begins export of new crude grade in March – Report
Nigeria is set to begin exporting a new light, sweet crude grade known as Cawthorne in March as part of efforts to boost oil production…
Dangote signs deal to distribute 65m litres petrol
The Dangote Petroleum Refinery has concluded an offtake agreement with 12 major petroleum marketing companies to distribute between 60 million and 65 million litres of…
FG assures mining investors of asset protection
The Federal Government has assured investors in Nigeria’s mining sector that their assets will be fully protected, as part of efforts to attract more investment…
33 ships loaded with fuel, food, others set to arrive Lagos ports – NPA
The Nigerian Ports Authority (NPA) has announced that 33 vessels carrying petroleum products, food supplies, and other assorted cargoes are scheduled to arrive at major…
Nigerian govt, ECOWAS to provide off-grid electricity to 15 public hospitals, schools
The federal government, through the Rural Electrification Agency (REA) and the Economic Community of West African States (ECOWAS), has agreed to provide electrification to 15…
Nigeria to get fresh $500m World Bank loan amid huge debt burden
The World Bank is set to approve a fresh $500 million loan to Nigeria next month. The loan is aimed at boosting agricultural productivity and…