Business

The Association of Bureaux de Change Operators of Nigeria has expressed support for the Central Bank of Nigeria’s directive to banks to stop the use of domiciliary accounts as collateral for naira loans, Punch reports. …

Air Peace boss alleges big players on Lagos-London route slash prices below cost of operations to cripple the Nigerian carrier   Can Air Peace survive the tough competition mounted against it by big Airlines including British Airways,…

Wema Bank found itself on the wrong side of seven Nigerian laws in 2023, paying penalties totaling N61.350 million in one year. This was revealed in the bank’s full-year 2023 financial statement,…

The Presidency, on Tuesday, said the concerted efforts of the Yemi Cardoso-led Central Bank of Nigeria aimed at stabilising the Naira aligns with President Bola Tinubu’s “multi-faceted approach to ridding the nation’s foreign exchange…

United Bank for Africa (UBA) Plc has released its audited financial results for the full year ended December 31, 2023, recording a laudable profit before tax (PBT) of N757.7 billion. The figure represents an exponential growth of 277 per…

Court adjourns arraignment of two lawyers, businessman accused of forgery, damage to property April 29 Justice S.I. Sonaike of the Lagos High Court, TBS has adjourned the arraignment of two lawyers, Ademola…

CBN bans use of foreign currency as collateral for naira loans The Central Bank of Nigeria (CBN) has directed all banks to stop the use of foreign currency-denominated collaterals for naira loans. Adetona Adedeji, acting director of…

While the Nigerian National Petroleum Company Limited (NNPCL) is making moves to end petrol scarcity in Lagos and its environs, the Dangote Refinery and oil marketers have intensified efforts at taking final decisions on pricing and…

Reconsider electricity tariff hike - Labour Party urges FG The Labour Party (LP) has called on the Federal Government to reconsider its decision to hike the tariff payable by some electricity consumers in the country. Mrs…

Wife of detained Binance executive pleads for husband's release Yuki Gambaryan, Wife of the detained Binance Holdings Limited executive, Tigran Gambaryan, Binance’s head of financial crime compliance, has pleaded with the Nigerian…