Ecobank Reports Highest-Ever Profit in First Half
Ecobank Transnational Incorporated (ETI) has reported a significant increase in its profit after tax, reaching N311 billion for the first half of 2024. This...
Heritage Bank Closure: NDIC Pays Out N5 Million to Depositors
The Nigeria Deposit Insurance Corporation (NDIC) has begun compensating depositors of the defunct Heritage Bank with a maximum payout of N5 million per depositor....
Enugu State Set to Benefit from German Investment in Key Sectors
The German government has expressed strong interest in boosting economic cooperation with Enugu State, focusing on agriculture, energy, trade, and investment. This move is...
Nigeria and Venezuela Partner on Gas Development
Veneoranto Petroleum Limited, a Nigerian oil firm, has signed an agreement with Venezuela's state-owned oil company, PDVSA, to develop two natural gas fields in...
CPPE Warns of Economic Risks as Regulatory Pressures Stifle Nigerian Manufacturing Sector
The Centre for the Promotion of Private Enterprise (CPPE) has raised concerns over the increasing challenges posed by regulatory agencies to the Nigerian manufacturing...
Edo refinery faces Crude Supply Shortage Despite Presidential Directive
The management of AIPCC Energy Limited, operators of the Edo Refinery and Petrochemicals Company Limited (ERPCL), has raised concerns over the persistent lack of...
Retail Dutch Auction: CBN Excludes Six Banks
The Central Bank of Nigeria (CBN) recently conducted a retail Dutch auction, selling $876.26 million to 26 qualified banks at an exchange rate of...
Dollar Rate Drops as Naira Gains
As of August 10, 2024, the Naira has gained significantly against the dollar in the official foreign exchange market. According to data from FMDQ,...
The Rise of China’s Youngest Billionaire: The Colin Huang Story
At just 44 years old, Colin Huang has claimed the title of China's richest person, surpassing even the bottled water tycoon Zhong Shanshan. This...
Naira Gains N42.88 As CBN Launches RDUS Amid Protests
Based on FMDQ data from the past week, the Naira strengthened by N42.88 against the dollar in the foreign exchange market, following the Central...