MTN Group, Africa’s biggest wireless operator by sales, and minority shareholders in its Nigerian business are seeking to raise about US$1bn (about R14,6bn) in an initial public offering, a... Read more
Nigeria’s inflation rate has hit 17.1 per cent in the month of July, at a time when the country is hit by runaway exchange rates. Figures released by the National Bureau of Statistics... Read more
The value of the naira at the parallel market continued to decline hitting N420 to the dollar, as dollar sales by the Central Bank of Nigeria (CBN) boosted liquidity at the interbank market... Read more
The Central Bank of Nigeria has reinstated the nine banks that were recently suspended from the foreign exchange market. They were suspended for failing to remit about $ 2.3 billion funds of... Read more
At the recent MEDEF Summer University Forum in Paris, the annual meeting of French business and political leaders, Tony Elumelu, Chairman, Heirs Holdings and UBA Plc and Founder of the Tony... Read more
Police in Abuja have arrested four top officials of First Bank Plc. over an alleged forgery following an order of an Abuja Magistrate’s Court to that effect. The suspects are currently faci... Read more
Detectives probing the whereabouts of the $200m (N81.4billion) fines paid by five companies involved in the $180million Halliburton bribery scam have made a major discovery. The cash was all... Read more
Nigeria, Africa’s most populous nation, has entered recession after figures released Wednesday showed that its economy had contracted for the second consecutive quarter. The Nigerian Bureau... Read more
The naira fell to a new low of 414 against the United States dollar on Sunday amid the continued scarcity of foreign exchange in the country, with economic experts predicting further pressur... Read more
Diamond Bank Plc has reassured its customers of enhanced quality service delivery and commitment to meet its banking obligations despite the announcement by the CBN that nine commercial bank... Read more