BUSINESS
Nigerian Stock Exchange Suspends 6 Firms
The Nigerian Stock Exchange (NSE) has suspended trading in six companies over their inability to comply with extant corporate governance rules and best practices that mandate them to submit their financial statements within a specified period. The suspended companies include: FTN Cocoa Processors Plc; Medview Airline Plc; Niger Insurance Plc; R.T. Briscoe (Nigeria) Plc; Union Dicon Salt Plc and Capital...
APC Lawmaker Says Reps Will Investigate Tinubu Over Trillions Of Naira From Fuel Subsidy Removal
A member of the House of Representatives, Hon. Yusuf Gagdi, has vowed to ask President Bola Tinubu, what he did with the trillions of naira saved from the removal of fuel subsidy. The lawmaker and chieftain of the ruling All Progressives Congress (APC), who chairs the House Committee on Navy, said that he supported the removal of fuel subsidy but...
CBN Seeks Governors’ Support On Monetary Policy Reforms
The Central Bank of Nigeria (CBN) has called for the support of state governors across the federation for its ongoing monetary policy reforms, aimed at restoring macroeconomic stability and rebuilding investor confidence in the Nigerian economy. This was contained in a communiqué issued at the end of the Nigeria Governors’ Forum (NGF) meeting held on Thursday in Abuja. According to the...
FG Promises To Deal With Economic Destabilizers
The Federal Government has vowed to go after individuals sabotaging the nation’s economy. The Minister of Information and National Orientation, Mohammed Idris, made this known in a statement he personally signed on Friday. Idris stated that one of the decisions of President Bola Tinubu when he was sworn-in was the removal of petrol subsidy which all the “three major candidates” agreed...
CBN’s New Policy Limits Cash Withdrawal To N100,000, N500,000 For Individual, Corporate Account Holders Per Week
Nigeria's apex bank, Central Bank of Nigeria, CBN on Tuesday announced a new policy which mandates commercial banks other financial institutions to ensure that individual and corporate account holders do not withdraw above N100, 000 and N500, 000, respectively, per week. Individuals will only be able to withdraw N100,000 per week (from over the counter, Point of Sale Machines or...
Abia Govt Takes Back Abia Hotels Umuahia After 12 Years of Failed Agreement
The Abia State Government has officially revoked the Certificate of Occupancy of Abia Hotels, Umuahia, and taken back full possession of the property following what it described as a prolonged breach of contractual terms by the facility’s lessee, Investment Guarantee Limited. According to a public statement issued on Sunday, November 16, 2025, by the Chief Press Secretary to the Governor,...
Bulk Sale Of Petroleum Products From Port Harcourt Refinery Yet To Commence — NNPCL
The Nigerian National Petroleum company limited has clarified that it has not commenced bulk sales of product from the Port Harcourt refinery following the trucking out of product on Tuesday. The clarification followed a series of enquiries on the pricing template as Nigerians sought to know how the revamp refinery will positively impact prices. The National Headquarters of Petroleum Products Retail...
FG Appoints Managers To Lead $10bn Global Investment Fund
Twenty-three fund managers have been appointed by the Federal Government of Nigeria to lead the $10 billion Nigeria Global Investment Fund. A transformative initiative aimed at channeling both international and local investments into the nation’s key economic sectors, including agriculture, manufacturing, energy, infrastructure, and fintech. According to a presentation document obtained by Nairametrics, the NGIF is a cornerstone of Nigeria’s broader...
Naira To Appreciate, Settle At N600/$1 In Coming Months, Says JP Morgan
According to JP Morgan, an American global financial services organization, the naira is likely to strengthen and trade at around N600 per dollar in the coming months. The estimate was provided by the financial institution in a statement issued on Thursday. The Central Bank of Nigeria announced on Wednesday the unification of all parts of the currency exchange (FX) market, indicating...
Inflation Rises To 16.82% In April 2022 – NBS
The National Bureau of Statistics, NBS, said inflation rate rose to 16.82 percent in April 2022, representing a 0.90 percent rise when compared to 15.92 per cent recorded in March 2022. The bureau also said that the composite food index rose year...
