Thursday, July 3, 2025
Business News
PenCom denies lending FG N10tn
The Director General of the National Pension Commission, Aisha Dahir-Umar, has denied allegations that the commission loaned N10tn to the Federal Government. The House of Representatives in October adopted a...
Read moreDetailsExternal reserves grow by 2.83% on foreign capital inflows, remittances
Nigeria’s external reserves have recorded 2.83 percent year-to-date accretion following inflows from foreign capital and remittances. Data from the Central Bank of Nigeria (CBN) revealed that foreign currency reserves increased...
Read moreDetailsAramco raises payout to $31 Billion in boon for Saudi budget
Aramco raised its dividend despite a retreat in energy prices and lower production, a boost for Saudi Arabia as it faces a widening budget deficit. The total payout of about...
Read moreDetailsGoldman Sachs Predicts Naira Appreciation to N1,200/$1
Analysts at Goldman Sachs, Andrew Matheny and Bojosi Morule, have forecasted a significant appreciation of the Nigerian naira to N1,200 against the US dollar within the next 12 months. This...
Read moreDetailsCustoms seize 1,464 bags of foodstuffs meant for Benin Republic
The Nigeria Customs Service, Federal Operations Unit, Zone A in Ikeja, Lagos, disclosed that it intercepted three trucks loaded with 1,464 bags of foodstuffs heading to the Republic of Benin....
Read moreDetailsFG inaugurates council to attract $575bn gas investments
The Federal Government, on Friday, inaugurated the Governing Council of the Midstream and Downstream Gas Infrastructure Fund, which has the target of attracting $575bn investments in the Nigerian gas sector....
Read moreDetailsMarket Continues Resurgence with ASI Closing Week at 101,330.85 Points
The upward trend observed throughout the week on the NGX persisted, with the market's All-Share Index (ASI) further appreciating by 995.55 points, representing a 0.99% increase, to close at 101,330.85...
Read moreDetailsCBN Reports Quadrupling of FX Remittances to $1.3 Billion in February
The Central Bank of Nigeria (CBN) has announced a substantial surge in overseas remittances into the country, reaching $1.3 billion in February 2024, a significant increase from $300 million in...
Read moreDetailsAfCFTA: Nigeria commences export to S’Africa, others in April
Nigeria is to begin the formal export of locally produced commodities to South Africa, Rwanda, Cameroon and Kenya from next month under the Guided Trade Initiative of the African Continental...
Read moreDetailsTinubu suspends REA boss, directors over alleged N1.2bn fraud
President Bola Tinubu has indefinitely suspended the Managing Director/Chief Executive Officer of the Rural Electrification Agency, Ahmad Salihijo, alongside three executive directors of the agency, from office. This followed “new...
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