Business
The rhythm of Nigeria's business world
In a circular released by Shoprite Mall, the retail giant has announced its decision to cease operations at its Kano branch in Northwest Nigeria, effective January 14, 2024. The circular, obtained by Nairametrics, cites the current financial situation of the mall in the state and the challenging...
According to the latest Billionaire Ambitions Report, Nigeria has emerged as the leading hub for self-made billionaires in Africa in 2023, showcasing its economic resilience despite ongoing challenges. The report, encompassing Middle East and Africa (MEA) nations, reveals that Nigeria, with its...
In a pivotal appearance before the House of Representatives Committee on Finance, Finance Minister Wale Edun recommended the implementation of a centralized revenue collection system. Edun asserted that the Federal Inland Revenue Service (FIRS) should spearhead revenue collection not only for...
In a significant move, the Corporate Affairs Commission (CAC) is poised to delist a staggering 91,843 companies from its register due to their failure to file annual returns. This announcement follows a previous commitment by the CAC to remove 100,000 companies, reinforcing its dedication to...
As Nigerians usher in the holiday season, the specter of Naira scarcity looms once again, despite assurances from the Central Bank of Nigeria (CBN).
Reports indicate Automated Teller Machines (ATMs) in several regions are either non-dispensing or witnessing lengthy queues, with Deposit Money...
The Central Bank of Nigeria (CBN) has made a strategic move to bolster cashless transactions by announcing the suspension of processing fees on cash deposits exceeding N500,000 until April 2024. The decision, communicated through a circular signed by Adetona Adedeji, the acting director of...
In a strategic move to counterbalance the effects of the fuel subsidy removal, the Federal Government of Nigeria, under the stewardship of the Federal Ministry of Industry, Trade, and Investment, is introducing two groundbreaking initiatives—the Presidential Conditional Grant Programme and the...
The once-thriving Nigerian manufacturing sector is facing an unprecedented crisis, grappling with a colossal 400% surge in net foreign exchange losses totaling a staggering N466 billion over the nine months ending in September. Industry insiders point to a complex interplay of factors, including...
The Dangote Oil Refining Company proudly announced the arrival of its inaugural one million barrels of Agbami crude grade, courtesy of the Shell International Trading and Shipping Company Limited (STASCO). Aliko Dangote, Chairman of Dangote Group, shared that the plant is poised to commence...
In response to a surge in complaints about the scarcity of naira notes across various channels, the Central Bank of Nigeria (CBN) has clarified the underlying reasons behind the issue.
According to a statement from the CBN's Corporate Communications Department, the apparent currency scarcity...
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