60M Nigerians Spend ₦55M Daily on Gambling - SEC
Nigeria's Securities and Exchange Commission warns about the dangerous shift from productive investments to gambling addiction, with staggering daily spending figures.
Category : Business
Naira Soars to 10-Month High Against Dollar
The Nigerian Naira experiences remarkable recovery, reaching its strongest position in 10 months as dollar exchange rates plummet across official and parallel markets.
Virgin Advances Plans for Eurostar Rival Service
Richard Branson's Virgin Group advances plans to challenge Eurostar's monopoly with new high-speed rail services connecting London to European cities. Get the latest on this game-changing development.
Experts Urge CBN: Introduce ₦10,000 & ₦20,000 Notes
Leading Nigerian financial analysts are urging the Central Bank to introduce higher denomination notes to combat inflation and improve cash transaction efficiency across Nigeria's economy.
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Canon Appoints Hinckley Group Africa Service Centre in Nigeria
Hinckley Group Africa has been officially appointed as Canon's authorised service centre in Nigeria, bringing world-class imaging solutions and technical support closer to Nigerian businesses and photography enthusiasts.
Volkswagen Reports €1 Billion Loss Amid Tariff Crisis
German automaker Volkswagen reports staggering €1 billion quarterly loss amid EU-China tariff tensions and Porsche challenges. Discover how this impacts global automotive markets.
G7 Moves to Counter China's Critical Minerals Dominance
World's wealthiest economies unite to counter China's dominance in essential minerals powering electric vehicles and clean energy technologies. Discover how this global shift could create new opportunities for Nigeria's mining sector.
Bank of Japan Maintains Zero Interest Rates
The Bank of Japan maintains ultra-low interest rates while signaling potential future hikes as yen weakness and inflation concerns persist. Get the latest analysis on Japan's monetary policy direction.
GTCO Records ₦900.8 Billion Profit in Q3 2024
Guaranty Trust Holding Company Plc (GTCO) announces exceptional financial performance with Profit Before Tax hitting ₦900.8 billion in Q3 2024, showcasing remarkable growth and market leadership.
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Nigeria Slumps to 18th in Africa Investment Ranking
Nigeria has dropped to 18th place in the latest 'Where to Invest in Africa' report, raising concerns about the country's investment climate and economic competitiveness.
Shipping Delays Threaten Africa's Free Trade Dream
Critical infrastructure deficits and persistent shipping delays are threatening to derail the African Continental Free Trade Area's ambitious targets, putting $3.4 trillion economic opportunity at risk.
National Quality Conference in Nigeria Postponed
The much-anticipated National Quality Conference in Nigeria has been officially postponed. Get the latest updates on new dates and what this means for stakeholders.
FG: Lawyers Must Pay 7.5% VAT at NALT Conference
The Federal Government maintains its stance on VAT compliance for lawyers and law firms, emphasizing revenue generation during the Nigerian Association of Law Teachers gathering.
Nigeria loses N6tr yearly to opaque oil deals - NEITI
Shocking revelations emerge as transparency watchdogs warn Nigeria is bleeding trillions through opaque oil incentives and questionable subsidy payments that lack proper documentation.
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Ogun State Drives Economic Growth with Road Projects
Ogun State Government unveils comprehensive road construction initiative aimed at boosting economic development, enhancing connectivity, and attracting investments across the state.
KEDCO Starts $550M World Bank Metering Scheme
Kano Electricity Distribution Company kicks off transformative mass metering program backed by World Bank funding, promising relief from estimated billing for millions of customers across Northwest Nigeria.
Poland's $1.1B Africa Investment Drive Launched
Poland launches ambitious $1.1 billion investment initiative targeting African markets, with Nigeria positioned as key beneficiary. Strategic partnerships planned across multiple sectors.
ECB Holds Rates Steady Amid Inflation Concerns
European Central Bank maintains interest rates despite inflation concerns. Analysis of how this decision impacts Nigeria's economy, trade relations, and the global financial landscape.
Asia Markets Watch Trump-Xi G20 Meeting
Asian stock markets showed cautious trading as investors await the crucial meeting between US President Donald Trump and Chinese President Xi Jinping at the G20 summit. Get the latest analysis on market movements and economic implications.
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US Government Shutdown Threatens Economic Data Blackout
The potential US government shutdown threatens to halt crucial economic data releases, leaving investors and policymakers in the dark during economic uncertainty. Federal agencies prepare for closure as Congress struggles to reach funding agreement.
NZ Farmers Sell Dairy Division to French Giant Lactalis
In a groundbreaking move that's stirring controversy, New Zealand's largest dairy cooperative approves sale to French giant Lactalis, leaving farmers divided and experts calling it economic madness.
Nigeria fights arbitrary shipping surcharges
Nigerian importers and exporters unite through UASC to challenge arbitrary charges imposed by foreign shipping lines, demanding transparency and fair pricing in maritime trade.
Nigeria's Money Supply Drops 1.58% in September
CBN's aggressive monetary policy triggers significant decline in money supply during September, signaling tighter financial conditions for Nigerian businesses and consumers.
FMCG Stocks Surge 200% in Nigerian Market Rally
Nigeria's FMCG sector experiences massive recovery as leading stocks deliver unprecedented returns, with some companies posting over 200% growth amid improved market conditions.
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Oil Marketers Warn Against Monopoly in Nigeria
Major petroleum marketers in Nigeria are raising concerns about market dominance and calling for transparent access to facilities to ensure fair competition in the downstream oil sector.
Nigeria Manufacturers Face 51% Forex Shortage Crisis
MAN reveals only 49% of manufacturers' forex needs are met, threatening production and economic growth despite positive 4% sector outlook for 2024.
IDL Warns Distributors Against Price-Cutting
International Distributions Limited cautions distributors against unauthorized price reductions, emphasizing commitment to fair pricing and rewarding compliance in Nigerian market.
Nigerian insurer grows premium to N15.3b amid challenges
Despite Nigeria's tough economic climate, a leading insurance company reports impressive 15% premium growth, reaching N15.3 billion while maintaining strong profitability metrics.
$3.1 Trillion Climate Gap Hits Nigeria & Developing Nations
New UN report reveals staggering $3.1 trillion needed for climate adaptation in Nigeria and other developing countries, with current funding falling dangerously short of urgent needs.
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United Nigeria Airlines strengthens agent ties for Accra route
United Nigeria Airlines reinforces commitment to travel agents with enhanced support and incentives as it prepares to launch new regional route connecting Nigeria to Ghana's capital.
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