Multichoice Faces $190.5 Million Forex Loss from Nigerian Operations in 2024
Pan-African pay-TV operator Multichoice has reported significant financial challenges, revealing a $190.5 million (R3.6 billion) foreign exchange loss from its...
Naira Falls to Three-Week Low at N1,488.60/$1 on Official Market
The Nigerian naira hit its lowest point in three weeks on the official market, closing at N1,488.60/$1 on Wednesday, June...
NCDMB Earns $30M Interest from Intervention Fund
The Nigerian Content Development and Monitoring Board (NCDMB) has announced that its $300 million intervention fund, placed with the Bank...
Tinubu Considers Suspension of Import Duties on Essential Goods to Combat Inflation
The Federal Government of Nigeria is preparing to implement a temporary suspension of import duties on essential goods such as...
Naira Stable as Dollar Sales Surge by 94.46% in FX Market
The Nigerian naira demonstrated stability across various foreign exchange (FX) markets on Tuesday, despite a significant surge in dollar sales...
First Bank Recovers N456 Billion Loan from Heritage Bank Before License Revocation
In a significant financial development, First Bank has successfully recovered a substantial N456 billion loan from Heritage Bank. This repayment...
FG to Reduce Petrol Imports by $4.4 Billion Annually with Compressed Natural Gas Initiative
The Nigerian government announced plans to significantly reduce the importation of Premium Motor Spirit (PMS), commonly known as petrol, by...
Fitch Ratings Projects Naira to Settle at 1,450/$ by December
International credit rating agency Fitch Ratings has forecasted that the Nigerian currency, the naira, will end the year at 1,450...
Top Story: NLC and TUC Suspend Nationwide Strike for Five Days
In a significant development, the National Labour Congress (NLC) and the Trade Union Congress (TUC) have suspended their nationwide strike...
NDIC Assures Heritage Bank Depositors: How to Reclaim Insured Funds
The Nigeria Deposit Insurance Corporation (NDIC) has taken decisive action by initiating the liquidation process for Heritage Bank Plc. This...
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