Business News

The Nigerian Deposit Insurance Commission has commenced the liquidation process of failed Heritage Bank with verification and payment of the bank depositors. NDIC disclosed this on Monday following its appointment...

Nigeria’s foreign exchange reserves have fallen by $1.8bn in 10 weeks, according to data from the Central Bank of Nigeria. As of May 29, 2024, the country’s FX reserves stood...

The Nigerian Exchange on Monday lost N102bn, underpinned by losses in First Bank of Nigeria Holdings, Seplat Energy and Transcorp. The All-Share Index declined and market capitalisation by 0.18 per...

Amidst Nigeria’s struggles to stabilise its exchange rate, the Naira has failed to make the list of Representative Exchange Rates for Selected Currencies for June 2024, published by the International...

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, announced that the federal government is extending credit facilities of up to N1 billion to large enterprises, including...

The Nigerian official foreign exchange (FX) market experienced a substantial downturn, with turnover plummeting by 42.92% on Monday, June 3, 2024. It seems traders and financial institutions cautiously approached the...

The equity market started the week on a down note, ending the previous session’s winning streak as investors saw a loss of N103 billion due to sell-offs in Tier-one banking...

In the International Banker 2024 Banking Awards, Zenith Bank Plc was recognised as the "Most Sustainable Bank, Nigeria," holding the distinction for a second year in a row. The chief...

Adia Sowho has stepped down as Chief Marketing Officer at MTN Nigeria, ending her three-year tenure that started in August 2021. As MTN’s chief marketing strategist, Sowho was key in...

The Central Bank of Nigeria (CBN) has revoked Heritage Bank Plc's licence, effective immediately, due to poor financial performance. Regulatory Action This decision aligns with the CBN's mandate to maintain...