Business
Financial analysts and economic experts are optimistic of a stronger value of the Naira to the US dollar as well as lower premium motor spirit (PMS)/petrol prices in Nigeria in 2025, driven by improved foreign exchange inflows and reduced fuel imports. Analysts anticipate that increased oil production and domestic refining capabilities will ease pressure on the […]
Investors who took a long position in eight major African stock markets made more money in Egypt, Nigeria and Ghana than any other, with each surpassing 100 percent cumulative returns since 2014, BusinessDay trend watch shows. The eight major markets tracked are: Côte d’Ivoire (BRVM-CI), Nigeria (NGX-ASI), Egypt (EGX-30), South Africa (JSE-ASI), Morocco (MASI), Kenya […]
As the end of year festivities commence in full, the Central Bank of Nigeria (CBN) has charged bank customers to report difficulty in getting cash at banks or Automated Teller Machines (ATMs) effective Sunday December 1, 2024. The apex bank said it would as part of its Payment System 2025 goals, be reviving the eNaira to foster […]
The Monetary Policy Committee of the Central Bank of Nigeria has raised the country’s interest rate by 25 basis points to 27.50 per cent in November from 27.25 per cent in September 2024. This followed the meeting of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN). The monetary policy rate measures […]
Nigeria’s Gross Domestic Product (GDP) has grown by 3.46 per cent in real terms in the third quarter (Q3) of 2024 on a year-on-year basis. This is according to a Monday GDP report published by the National Bureau of Statistics (NBS) which showed that the growth represents a 3.19 percent increase from the one recorded […]
The Central Bank of Nigeria (CBN) has warned the general public to be cautious of fraudulent ‘Swift’ messages and unsubstantiated claims regarding foreign currency transfers allegedly withheld by Nigerian banks or the apex bank itself. The warning follows a surge in petitions from private individuals, law firms, government agencies, and private entities claiming that foreign […]
The Supreme Court on Wednesday ordered that the old N200, N500, N1000 notes should continue to co-exist with the new notes till further notice. The Supreme Court has decreed that both the old and new currency notes will retain their status as legal tender until the Federal Government establishes a comprehensive process for their replacement […]
UA Industries has finally responded to several allegations levelled against its management in 7 Page-Editorial by Aliko Dangote. In a statement signed by its management sent to POLITICS NIGERIA, BUA detailed several acts of Sabotage by Dangote on their businesses and Operations around the country. Read the full response below; “It’s with a profound sense […]
According to data sourced from Oilprice, Brent Crude oil experienced a substantial surge, reaching $97.2 per barrel in the early hours of Thursday, September 28. This price point marked its highest level since November 2022. This notable price escalation was primarily attributed to a surge in demand coupled with a significant reduction in crude oil […]
The United States Government says Nigeria lacks the macroeconomic framework to address its challenges of foreign exchange instability. The US Deputy Secretary of Treasury, Wally Adeyemo, disclosed this recently at a forum with business leaders in Lagos. He landed in Nigeria on Sunday as part of the President Joe Biden administration’s commitment to deepening the […]
