Category: Business
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The naira crashed against the dollar on Monday, falling to 1, 030/$ on the average in the parallel market, losing the momentum it gathered last week. This represents a N80 loss or a 8.42 per cent decline of the local currency compared to the N950 it closed the week at last Friday. This is also…
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Six manufacturing companies have suffered a combined loss of N166.3 billion in their nine months financial results for the period ended September 31, 2023. The companies listed on the Nigerian Exchange Limited are Nestle Nigeria, Cadbury Nigeria, Dangote Sugar Refinery, Nigerian Breweries, International Breweries and Champion Breweries. LEADERSHIP reports that rising interest rates and naira…
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The Nigeria Customs Service, Area 2, Onne, Rivers State, said on Friday that it generated a total sum of N246 billion in ten months. The Comptroller of Customs in the command, Comptroller Baba Imam, disclosed this to newsmen at a briefing in Onne, Eleme Local Government Area of the state. Imam said the command raked…
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Fidelity Bank, a Nigerian commercial bank, has blocked neobanks like OPay, Palmpay, Kuda, and Moniepoint over concerns that their lax KYC processes are leading to increased fraud cases. Nigerian commercial bank Fidelity Bank is restricting consumer fund transfers to neobanks, including Moniepoint, Kuda, OPay, and PalmPay, said multiple sources with direct knowledge of the matter.…
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The value of the naira continued its downward spiral at the opening of business activities on Monday crashing at the parallel market to N1,210 to the dollar as against N1,170 which it closed last week. At the Nigerian Autonomous Foreign Exchange Market (NAFEM), also known as the Importers and Exporters window, the naira depreciated last…
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Mike Adenuga loses $300 million as net worth further declines to $3.3 billion Mike Adenuga, the Chairman of Conoil and the founder of Globacom, has experienced a notable setback, with a $300 million decrease in his net worth, now estimated at $3.3 billion at the time of this report. Just three months ago, in July,…
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On the instruction of the Honourable Commissioner for Environment, @tokunbo_wahab, Alaba International Market, Ojo has been sealed up for poor waste disposal practices, failure to pay their waste bills and gross environmental sanitation offences. By Jubril A. Gawat
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Marketers of the Premium Motor Spirit (PMS) petrol have raised the alarm over the lightness of the product in some retail outlets, noting that it is inferior to the quality the Nigerian Midstream and Upstream Regulatory Authority (NMDPRA) approved. They described some of the products imported to Nigeria as evaporating and undurable. The Independent Petroleum…
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The standard Lorem Ipsum passage, used since the 1500s “The truth is that pain itself is important, it is followed by education, but it happens at such a time that there is some great work and pain. For I will come to the bottom of it, no one should practice any kind of work unless…
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The standard Lorem Ipsum passage, used since the 1500s “The truth is that pain itself is important, it is followed by education, but it happens at such a time that there is some great work and pain. For I will come to the bottom of it, no one should practice any kind of work unless…