Business
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The Federal Government, in collaboration with the Federal Competition and Consumer Protection Commission, is set to take decisive action against trade association members found guilty of engaging in anti-competitive practices and unjustifiably raising food prices. Chief Executive Officer of the FCCPC, Babatunde Irukera, said this on Tuesday during a forum organised by the commission to […]
Nigeria’s headline inflation rate continued its upward trajectory, reaching a new high of 22.79 percent in June 2023, according to the latest data released by the National Bureau of Statistics on Monday. This marks the sixth consecutive increase in inflation, with the rate climbing from 22.41 percent in the previous month to its current 17-year […]
Access Bank Plc, the primary subsidiary of Access Holdings, has successfully finalized its acquisition of a majority stake in Finibanco Angola S.A., an Angolan entity. This significant milestone was disclosed in a notice submitted to the Nigerian Exchange Limited on Thursday. The agreement to acquire Finibanco Angola S.A. was initially announced by Access Holdings on […]
In a strong display of commitment, Nigeria has once again affirmed its dedication to fulfilling its debt service obligations. On Wednesday, the government successfully repaid a $500 million Eurobond that was borrowed in 2013 during the tenure of former President Goodluck Jonathan. A press statement released by the Debt Management Office confirms that the Eurobond, […]
Ecobank Nigeria Limited has urged First Bank Nigeria (FBN) Holdings to reject the acquisition of shares by Oba Otudeko, the former chairman of Ecobank, due to an alleged debt of N13.5 billion. This development arises just a few days after Otudeko’s affiliated company, Barbican Capital Limited, acquired a 13 percent stake in FBN Holdings, consequently […]
The Nigerian Exchange Limited (NGX) has officially announced the suspension of trading in the shares of seven companies. This notification was made through a press release provided to Nairametrics. According to the NGX, effective from today, Friday, July 11, 2023, the seven companies have been suspended from trading on the facilities of the Nigerian Exchange […]
The House of Representatives has made a request to the Central Bank of Nigeria (CBN) to temporarily suspend the implementation of the directive instructing banks to collect and verify customers’ social media handles. This decision was reached during the plenary session on Tuesday following the approval of a motion sponsored by nine lawmakers. The motion […]
The Federal Competition and Consumer Protection Commission (FCCPC) is taking strong measures to safeguard consumers against the unethical practices of specific loan apps. During an interview on the AriseTv morning show, Mr. Babatunde Irukera, the CEO of FCCPC, announced that the commission intends to request Google to permanently remove loan apps from its play store […]
