Business
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The Trade Union Congress of Nigeria, TUC, yesterday, gave the Federal Government a two-week ultimatum to conclude negotiations or face workers’ protest. The union’s president, Festus Osifoh, gave the ultimatum at a state of the nation press briefing in Abuja on Monday. Osifo said if no tangible policy measure to cushion the economic challenges brought […]
The Nigerian National Petroleum Company (NNPC) Limited said it has remitted N123 billion to the federation account for the month of June 2023. This is the first time in 18 months that the NNPC is remitting revenue to the federation account. This is as the Federation Allocation Account Committee (FAAC) said it distributed a total […]
In 2022, Nigeria maintained its status as the largest economy on the African continent for the fifth year running, boasting a nominal GDP of $477.4 billion. Often referred to as the “Giant of Africa,” Nigeria accounted for a substantial 17.4% of the continent’s economy, which reached $2.7 trillion in the same period. Data released by […]
Some traders and their customers on Wednesday, escaped death by a whisker at Ekeoha shopping centre in Aba, Abia State when some shops in a section of the market collapsed. According to DAILY POST, the incident happened in the morning when buying and selling were in top gear. Though no life was lost, goods worth […]
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 […]
