Independent. Uncensored. | Investigative Reports.
Business
CBN Governor, Emefiele, Afreximbank President, Oramah, Others under EFCC, NFIU investigations over $300million Paid to acquire Union Bank

Why Nigeria can’t adopt free floating FX regime —Emefiele

Posted: April 22, 2022 at 2:57 am   /   AFRICA, Business, Finance, news, TRENDING

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said that Nigeria cannot freely float the Naira at the foreign exchange market because such a policy would lead to foreign exchange spiral for Nigerians. He stated this during an interview on Thursday on the sidelines of the on-going IMF/World Bank Spring Meetings in Washington DC, […]

No Comments read more
Nigeria’s inflation rate under Buhari rises to 21.9% amid naira scarcity

At 15.92%, Nigeria’s inflation rises to six months high

Posted: April 15, 2022 at 12:35 pm   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

Nigeria’s inflation rate has hit six months high, as the consumer price index, which measures the rate of increase in the price of goods and services, reached 15.92 per cent in March 2022, amid rising food prices. The figure is the highest rate recorded since October 2021. It is 0.22 per cent points higher than […]

No Comments read more
Dangote remains Africa's richest man as Adenuga continues gathering more money

Dangote remains Africa’s richest man as Adenuga continues gathering more money

Posted: April 8, 2022 at 3:20 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

Chairman of Dangote Group, Aliko Dangote is the richest man in Africa for the 11th consecutive time with a net worth of $14 billion from $12.1 billion last year and $10.1 billion in 2020. This is according to Forbes’ 36th annual ranking of the planet’s richest people titled “War, pandemic and sluggish markets hit the […]

No Comments read more
Nigerian Senate confirms Cardoso as CBN governor, four other deputies

CBN fines three commercial banks N800m for facilitating cryptocurrency transactions

Posted: April 7, 2022 at 3:00 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

The Central Bank of Nigeria, CBN, has slammed a fine of N800 million on three commercial banks over their alleged failure to comply with regulations barring consumers from transacting in cryptocurrencies. Bloomberg report said the sanctions were part of the CBN’s efforts to tighten down on cryptocurrency and to make sure that commercial restrictions on […]

No Comments read more
Millions of Nigerians lament as MTN network suffers outage

NIN-SIM: MTN apologises to customers for barring lines

Posted: April 5, 2022 at 7:31 pm   /   AFRICA, Business, news, TRENDING

Several customers took to social media on Tuesday to vent their unhappiness with Nigerian telecommunication network providers for cutting off their connection lines. However, in a series of tweets, the Mobile Telephone Network apologized to the complainants for the limitations. Some consumers accused MTN of blocking their lines despite the fact that they were connected […]

No Comments read more
Obasanjo keeps attacking Buhari out of frustration, jealousy – Presidency

Nigerian economy frustrating businesses, youths, women – Obasanjo laments

Posted: March 31, 2022 at 2:47 am   /   AFRICA, Business, Finance, news, TRENDING

Former President Olusegun Obasanjo has described the Nigerian economy as frustrating for Small and Medium Scale Enterprises operators as well as women.  He said this on Wednesday at the Youth Development Centre of the Olusegun Obasanjo Presidential Library Credit Scheme held on the premises. Obasanjo during the programme presented over N1million cheques to the beneficiaries […]

No Comments read more
Azman Air suspends flights to Kaduna Airport over terrorists attack

Azman Air suspends flights to Kaduna Airport over terrorists attack

Posted: March 29, 2022 at 3:18 am   /   AFRICA, Business, FEATURED STORIES, news, TRENDING

Azman Airline has suspends its operation in Kaduna International Airport following the last Saturday terrorists attack around the airport. Gumen, suspected to be bandits had gummed down a local guard of the Kaduna International Airport during the attack. Following the development, Azman, one of the carriers operating to the airport, announced in a post on […]

No Comments read more
EFCC plans massive arrest of forex dealers over dollar crisis

Dollar exchanges for N590 as forex scarcity bites harder

Posted: March 23, 2022 at 5:43 am   /   AFRICA, Business, FEATURED STORIES, Finance, news, TRENDING

The Nigerian naira traded at N590 per dollar at the parallel section of the foreign exchange market. Reports showed that the exchange rate on Tuesday stood at N585/$1 and N785/£1 on the black market as against the N582/$1 last Friday, açcording to the Punch. Customers’ access to forex, placing a cap of $20 per month […]

No Comments read more
Dangote remains Africa's richest man as Adenuga continues gathering more money

Dangote’s $2.5bn fertilizer factory will boost food production, export – Buhari

Posted: March 23, 2022 at 2:25 am   /   AFRICA, Business, news, TRENDING

On Tuesday, President Muhammadu Buhari opened the $2.5 billion Dangote Fertilizer factory in Lagos.The factory has a yearly capacity of three million metric tonnes of fertilizer.The President, who expressed his delight at the multibillion-dollar factory, also stated that it will lessen the country’s reliance on fertiliser imports.He claims that the nation will benefit from a […]

No Comments read more
Redesigned naira notes will come with consequences, Budget minister says

FACC: FG, state, local governments share N695bn as February revenue

Posted: March 23, 2022 at 2:14 am   /   AFRICA, Business, news, TRENDING

Federal, state and local governments shared N695.03 billion as revenue for February, the Federation Accounts Allocation Committee (FAAC) said on Tuesday This was amid the Nigerian National Petroleum Corporation Limited plan to deduct N242.53 billion for subsidy. FAAC Director Information, Mr. Olajide Oshundun, disclosed the sharing of the revenue among the three tiers of government […]

No Comments read more
Newsletter subscribe
giweather WordPress widget