News

President Bola Ahmed Tinubu plans to halt the payment of taxes and levies in foreign currency through an executive order. This measure aims to reduce pressure on the naira and...

Nigeria may have lost about N148.8bn in oil revenue on Monday as a result of the industrial action embarked upon by the Organised Labour to protest against the N60,000 minimum...

On Tuesday, the Naira fell in the official market, trading at N1,476.95 per dollar. According to data from the FMDQ Exchange's official trading platform, it has shed 83 kobo. This...

Opay has announced that it has received approval from the Central Bank of Nigeria (CBN) to resume onboarding new users. In a statement, Opay emphasized its commitment to regulatory compliance,...

Access Bank has been honoured as the “Best Trade Partner Bank West Africa 2024” by the International Finance Corporation (IFC). The award was presented at the Global Trade Partners Meeting...

The Presidential Compressed Natural Gas Initiative (PCNGi) aims to convert approximately one million vehicles to compressed natural gas (CNG), potentially saving Nigeria about $4.4 billion (N6.6 trillion) annually on petrol...

A global survey by consulting firm McKinsey reveals a significant surge in business adoption of AI, reaching 72% in 2024, up from 55% in 2023. While 2023 marked the year...

Nigeria's Central Bank (CBN) revoked Heritage Bank's operating licence Wednesday, citing the bank's board of directors' failure to improve its financial performance. Meanwhile, the Nigeria Deposit Insurance Corporation, or NDIC,...

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...