Business

The rhythm of Nigeria's business world
Dangote Sugar Refinery Plc faces financial headwinds as it reports a substantial loss before tax amounting to N108.92 billion in its 2023 annual report. The staggering foreign exchange losses of N172.198 billion, attributed to the devaluation of the naira, lead to a 53% depletion of...
The Nigerian Communications Commission (NCC) has provided insight into the recent deactivations of mobile lines, shedding light on discrepancies in the National Identification Number (NIN) and SIM card linkage. According to NCC spokesperson Reuben Muoka, subscribers whose NINs were not...
The Federal Government has issued a stern warning to foreign airlines, threatening sanctions if they fail to comply with directives aimed at making air travel more affordable for the Nigerian middle class. Despite a recent meeting between the Nigerian Civil Aviation Authority (NCAA) and key...
Dangote Refinery has increased its stock of imported crude oil from the United States, with a second shipment of US light sweet crude oil en route to Nigeria. According to ship tracking data and traders, the vessel named Otis loaded approximately 850,000 barrels of WTI Midland in Houston...
The Managing Director and CEO of Pinnacle Oil and Gas Limited, Mr. Robert Dickerman, has disclosed that despite the supposed deregulation of the petroleum sector, Nigeria continues to pay a substantial monthly subsidy of about N1 trillion for petrol. Speaking at the Nigeria International...
In an exclusive interview on Bloomberg TV, South African billionaire Christo Wiese voiced optimism about Nigeria's economic future, countering the recent trend of global corporations exiting the country. Wiese, the former chairman of Shoprite Holdings Ltd., Africa's largest grocer, described the...
The Central Bank of Nigeria (CBN) has taken decisive action by revoking the licenses of 4,173 bureau de change (BDC) operators, citing their failure to comply with regulatory provisions. Sidi Ali, CBN's acting director of corporate communications, highlighted that the operators neglected crucial...
In response to the recent directive from the Central Bank of Nigeria (CBN), bank customers across the nation are required to link their National Identification Number (NIN) and Bank Verification Number (BVN) to their accounts. The CBN circular, issued on December 1st, 2023, highlights the...
With the deadline for linking National Identity Numbers (NIN) and Bank Verification Numbers (BVN) fast approaching on March 1, 2024, concerns mount for millions of Nigerians. Approximately 85.51 million bank customers could face restricted access to their accounts due to challenges in...
Airpeace CEO, Allen Ifechukwu Oyema, receives praise for exposing the alleged discriminatory practices of UK aviation authorities towards Nigerian airlines. He claims UK officials prioritize foreign airlines over Nigerian carriers, reflecting a broader issue of unfair treatment in the...
Back
Top