Business

The Central Bank of Nigeria (CBN) has reported a substantial improvement in its Net Foreign Exchange Reserve (NFER) position as of the end of 2024, reflecting a substantial improvement in the country’s external liquidity, reduced short-term obligations, and renewed investor confidence. According to the CBN, NFER stood at $23.11 billion,…

Dangote Petroleum Refinery has confirmed that it has temporarily halted the sale of petroleum products in Naira. According to a note by the Management to customers on Wednesday, the company said “This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which…

The Federal High Court in Abuja has restrained the Federal Competition and Consumer Protection Commission (FCCPC) from sanctioning MultiChoice Nigeria Limited following its recent increase in the DStv and GOtv subscription rates. Justice James Omotosho gave the order after an ex-parte motion moved by Moyosore Onigbanjo, SAN, counsel to MultiChoice.…

The Office of the Accountant General of the Federation (OAGF) has clarified that the Federal Government has not discontinued the use of Remita as a Central Bank-approved payment gateway. In a statement signed by the Director of Press and Public Relations, Bawa Mokwa, the OAGF disclosed that Remita will, however,…

The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a transparent and resilient financial system by reinforcing regulatory compliance and risk management across Nigerian financial institutions. Speaking at a high-level Mandatory Compliance and Anti-Money Laundering (AML) Training Workshop held in collaboration with Citi on February 28, 2025,…

Partnership To Boost Nigeria, Africa’s Energy, Maritime Sectors Concisedailynews – The Nigerian National Petroleum Company (NNPC) Shipping, Stena Bulk, and Caverton Marine Limited have today announced the signing of a new joint venture that will transform Nigerian maritime transportation. The agreement, signed in London last week, aims to create a…

Seplat Energy Plc, a leading Nigerian energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has clinched the ‘Deal of the Year’ Award at the recently held New Telegraph Newspaper Awards. Seplat Energy completed the deal on the acquisition of Mobil Producing Nigeria Unlimited –…

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s dedication to enhancing economic cooperation between Nigeria and the Kingdom of Saudi Arabia. During a courtesy visit to the CBN headquarters by the Ambassador of the Kingdom of Saudi Arabia to Nigeria, H.E. Faisal…

The Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso, has canvassed stronger economic ties with the Middle East and the Nigerian diaspora community in the region. Speaking during a meeting with Talal Al-Humond, the Assistant Governor for Monetary Affairs, Saudi Arabia Central Bank – SAMA, on the sideline…

The National Information Technology Development Agency (NITDA) has expressed its commitment to fostering an innovative ecosystem that balances regulation with industry growth by investing in cloud infrastructure, data classification, and AI applications to solidify its position as a leading African digital hub. The NITDA Director General, Kashifu Inuwa CCIE stated…