Business

The United Bank for Africa crossed the N1 trillion mark in market capitalisation at the close of trading on the Nigerian Exchange Limited on Monday. UBA’s market cap stood at N1.022tn from N990bn on Friday, signalling a N32bn gain in one…

A section of the popular Nkpor main market in Idemili North Local Government Area of Anambra state, near the commercial city of Onitsha was razed down by fire as traders are now counting their losses, following the sad incident. The fire…

Naira falls to N1260/$ in parallel market The naira depreciated yesterday to N1,260 per dollar in the parallel market from N1,220 per dollar on Tuesday. Similarly, the naira depreciated to N904.65 per dollar in the official Nigerian…

The Corporate Affairs Commission is set to delist 91,843 companies for failing to file their annual returns with it. In a list published on its website, the commission listed 91,843 companies for delisting (2,738 less than the 94,581 it…

The Dangote Petroleum Refinery is set to start producing Automotive Gas Oil, also known as diesel, and JetA1 or aviation fuel in January 2024, while the production of Premium Motor Spirit, popularly called petrol, is being delayed by the…

Naira falls to N1200/$ in parallel market, gains 11% in NAFEM Naira falls 18% to N951.22/$ in NAFEM The naira depreciated yesterday to N1,1200 per dollar in the parallel market from N1,172 per dollar on Wednesday. However, the naira…

Pivo, the Nigerian fintech that offered banking services to small supply chain businesses, is shutting down one year after raising a $2 million seed round. Pivo, the Nigerian fintech startup that raised more than $2.6 million from Y…

Norwegian energy company Equinor has announced the sale of its Nigerian business, including its share in the Agbami oil field, to Nigerian-owned Chappal Energies. The transaction marks the end of Equinor’s three-decade presence in Nigeria.…

Supreme Court has ruled that old and new notes will co -exist as legal tender until further notice. Old naira notes to remain legal tender until further notice, Supreme Court rules The Nigeria Supreme Court ruled on Wednesday that the…

WEMA BANK SIGNS $50million CREDIT FACILITY WITH ECOWAS BANK FOR INVESTMENT AND DEVELOPMENT (EBID) Nigeria’s foremost financial institution and leading innovator, Wema Bank, has signed a credit facility of $50,000,000 with the…