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Tag: Business

Femi Otedola named 2024 'Investor of the Year'
featured

Femi Otedola named 2024 ‘Investor of the Year’

Billionaire investor and prominent figure in Nigeria’s capital market, Femi Otedola, has been honored with the title of “Investor of the Year 2024” by The Nation newspaper, in recognition of his outstanding achievements in the financial sector. The newspaper highlighted the remarkable performance of Otedola’s companies, Geregu Power and FBN Holdings, as key factors behind […]

Top 25 fastest growing Nigerian companies in 2024
featured News

Top 25 fastest growing Nigerian companies in 2024

Twenty-five Nigerian companies have emerged as the fastest-growing companies in Africa in the Financial Times ranking of the country’s fastest-growing businesses. In the lead is Omniretail, a notable Nigerian payment startup, raked in 139.88m in revenue, while Afex Commodities Exchange, a commodities brokerage, amassed a staggering $415 million. The lineup of 125 companies showcased in […]

Conferences

Interswitch, Stanbic IBTC CEOs announced DBNC 2024 Keynote speakers

Entrepreneurs and business enthusiasts are gearing up for the fourth edition of the Doing Business in Nigeria Conference (DBNC) on April 13, 2024, Amidst the challenges posed by macroeconomic headwinds. This is an important platform for professionals and fans to come together, exchange ideas on how Nigeria can grow its business. There are three keynote […]

Equity market recovers, gains N902bn
Business

Equity market recovers, gains N902bn

Positive trading returned to the stock market on Thursday, resulting in a gain of N902 billion. The PUNCH reported that this followed two sessions of bearish trading due to profit-taking. Following the Federal Reserve’s decision to maintain interest rates, stocks on the NASDAQ, Dow Jones Industrial Average, and S&P 500 saw a similar trajectory on […]

EFCC investigating Sirika's Nigerian Air deal – Keyamo
Economy

EFCC investigating Sirika’s Nigerian Air deal – Keyamo

Minister of Aviation and Aerospace Development, Festus Keyamo has disclosed that the Economic and Financial Crimes Commission is investigating the controversial Nigeria Air deal initiated by former Aviation Minister, Hadi Sirika. Keyamo made this known during an appearance on Channels Television’s Politics Today program on Wednesday. Keyamo stated, “There is a criminal investigation going on. […]

Banking

Femi Otedola named First Bank Holdings chair

Nigerian billionaire, and entrepreneur Femi Otedola, has been appointed as the new chairman of the board of directors for the First Bank of Nigeria Holdings. The decision, announced after a recent board meeting, saw Otedola taking over from the outgoing Chairman, Alhaji Ahmad Abdullahi. This move comes amid Otedola’s recent excitement about rejoining the Forbes […]

Economy featured

Senate summons CBN governor over naira decline

The Senate, through its Committee on Banking, Insurance, and other Financial Institutions, called upon Central Bank of Nigeria Governor Olayemi Cardoso before it next Tuesday. The summons pertains to queries regarding the economy’s status and the drastic fall of the naira in the forex market. Chaired by Senator Adetokunbo Abiru (APC Lagos East), the committee […]

The Central Bank of Nigeria has issued a circular aimed at addressing suspected cases of excessive foreign currency speculation and hoarding by Nigerian banks.
Economy

CBN moves to curb FX circulation, naira hoarding

The Central Bank of Nigeria has issued a circular aimed at addressing suspected cases of excessive foreign currency speculation and hoarding by Nigerian banks. The circular, titled “Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks,” emphasizes the CBN’s concerns over the growing trend of banks holding large foreign currency positions. To tackle these […]

Bolt cracks down on fake ride requests in Nigeria, South Africa
Tech

Bolt expands into Zimbabwe

Estonian e-taxi company, Bolt has expanded its services in Harare, Zimbabwe. As part of the move, Bolt is waiving commissions from drivers for at least six months as part of its launch strategy, a similar approach employed during the platform’s introduction in Zambia. Unlike its standard 18% commission in countries like Kenya, Bolt has opted […]

NNPC, First E&P provide free healthcare in host communities
Oil and Gas

NNPCL attracts South Korean investors for gas projects

The Nigerian National Petroleum Company Limited has met with a South Korean consortium led by Daewoo E & C to discuss the development of gas projects in Nigeria. According to The PUNCH, NNPCL said in a statement issued in Abuja on Tuesday that the discussions in Seoul, South Korea, intended to strengthen the oil company’s […]

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