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Aliko Dangote announced that the Dangote Petroleum Refinery will begin petrol supply by mid-July after a minor delay. Initial production was slated for June, aiming to end Nigeria's fuel imports. Talks are ongoing with international oil companies to ensure domestic crude oil supply obligations...
The decision by Diageo to exit Nigeria triggers debates on social media. Critics blame economic challenges and government policies, while others see opportunities for local industries. Tolaram's acquisition of Guinness Nigeria's stake raises questions about the future of the beverage industry...
Apple unveils AI features like Genmoji and ChatGPT integration, drawing Elon Musk's ire, who threatens to ban Apple devices over security concerns.
Apple's unveiling of exciting new features for iPhones and other devices has drawn the ire of billionaire Elon Musk, who has threatened to ban the...
Access Bank finalizes the acquisition of the African Banking Corporation of Tanzania (ABCT), signaling a significant expansion into Tanzania's banking sector. This strategic move aims to bolster Access Bank Tanzania's position and offer innovative banking solutions to customers.
Access Bank Plc...
Tolaram is acquiring Diageo's majority stake in Guinness Nigeria Plc, marking an exit strategy for Diageo from the Nigerian market. This landmark deal promises enhanced innovation and value delivery, underscoring Tolaram's commitment to Nigeria.
In a landmark deal set to reshape Nigeria's...
The Central Bank of Nigeria has confirmed there are no plans to revoke the licenses of Fidelity, Wema, Polaris, and Unity Banks. The CBN reassures the public of the banking system's resilience and safety of deposits, despite recent rumors and the revocation of Heritage Bank's license.
The...
![Today's Naira Rate [10-06-2024]: Naira Appreciates to N1,480/USD in Parallel Market, Boosting Exports"](/data/attachments/204/204877-147ab142f8cf48479284e57b3d23fc38.jpg?hash=FHqxQvjPSE)
Nigeria
Today's Naira Rate [10-06-2024]: Naira Appreciates to N1,480/USD in Parallel Market, Boosting Exports"
The naira appreciated to N1,480/$ in the parallel market on Monday, up 0.68% from June 7. However, it slightly depreciated to N1,483.62/$ at the FMDQ Exchange. The devaluation has boosted exports by making Nigerian goods cheaper for neighboring countries, according to the Nigeria Customs...
The Federation Account Allocation Committee (FAAC) announced that the three tiers of government shared N1.14 trillion in May, a decrease of N60 billion compared to April's N1.20 trillion allocation, driven by lower oil and non-oil revenues.
The Federation Account Allocation Committee (FAAC)...
Heritage Bank's 2,000 staff were left reeling after regulators suddenly revoked its license, leaving them jobless with no prior notice despite the bank's liquidity issues.
The sudden revocation of Heritage Bank's operating license on June 3 left nearly 2,000 employees jobless and in a state of...
Nigerian oil marketing companies argue petrol/gasoline pump prices cannot realistically fall to N300 per liter, contradicting claims that new domestic refineries could enable such low prices. Marketers cite crude costs, forex rates, taxes, and distribution costs as barriers.
Major oil marketing...
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