Business

The rhythm of Nigeria's business world
Seven prominent oil marketers in Nigeria have officially registered with the Dangote Petroleum Refinery for the distribution of refined petroleum products from the $20 billion facility. Operating under the Major Oil Marketers Association of Nigeria, these dealers are set to commence...
As economic turmoil intensifies, the National Bureau of Statistics (NBS) released its December 2023 Consumer Price Index (CPI) on Monday afternoon, revealing a shocking surge in Nigeria's inflation rate to 28.9%. In comparison to November 2023's 28.20%, this new figure represents a significant...
Image Credit: Kosmos Energy In a pivotal shift for Goldman Sachs Group Inc., lead independent director Bayo Ogunlesi, a stalwart figure at the financial institution for over a decade, is set to step down from the board. This departure marks a significant change for the panel that has steadfastly...
The Dangote Refinery, nestled in the heart of Ibeju-Lekki, Lagos, has officially commenced production. The largest single-train refinery in the world, this state-of-the-art facility has set the stage for a new era of energy self-sufficiency in Africa's most populous nation. As the sun rose over...
Billionaire investor Femi Otedola has reclaimed his position as one of Nigeria's top billionaires, securing the fourth spot with a current valuation of $1.2 billion, as reported by Forbes. This remarkable ascent is attributed to Otedola's strategic moves in the energy sector, particularly his...
In a recent Nasdaq trading session, Microsoft has temporarily claimed the title of the world's most valuable public company, surpassing Apple in market capitalization. The surge in Microsoft's stock value is attributed to its consistent momentum in the realm of artificial intelligence (AI)...
In a sweeping move that has sent ripples through Nigeria's financial landscape, the Central Bank of Nigeria (CBN) has announced the appointment of new executives to spearhead the operations of Union Bank, Keystone Bank, and Polaris Bank. This strategic decision comes on the heels of the...
The Central Bank of Nigeria (CBN) has taken a bold step by dissolving the boards and management of Union Bank, Polaris Bank, Keystone Bank, and Titan Trust Bank. The unexpected move was communicated through a formal statement uploaded to the CBN's official microblogging account. The CBN's...
In a recent revelation, the Nigeria Employers' Consultative Association (NECA) has sounded the alarm over a significant exodus of multinational corporations from Africa's largest economy, resulting in the loss of 20,000 jobs over the past three years. Adewale Oyerinde, the director general of...
The naira further strengthened against the US dollar on Monday, December 8, 2024, marking its third gain of the New Year. Closing at an impressive N856.57 to a dollar in the official market, the domestic currency witnessed a 1.45% appreciation, indicating a significant N12.56 gain over the...
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