Business
CBN suspends export proceeds repatriation extension
The Central Bank of Nigeria has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January...
10th January 2025
Dangote refinery builds eight more tanks for imported crude
The Dangote Petroleum Refinery is building eight more tanks in its bid to have enough storage for imported crude oil. A report by Africa Report has it that the refinery is ramping up its storage capac...
10th January 2025
Telecom tariff hike will reduce inflation – Rewane
The Chief Executive Officer of Financial Derivatives, Bismarck Rewane, has expressed support for the proposed telecom tariff hike, citing its potential to enhance productivity and moderate inflation i...
10th January 2025
FG services debt with 47% budget vote
Debt servicing consumed 47 per cent of the Federal Government’s total expenditure in the first nine months of 2024, The PUNCH reports. An analysis of data from the Central Bank of Nigeria’s latest...
10th January 2025
FBN: Shareholders back Otedola’s reforms, term EGM unnecessary
The ongoing debate among some shareholders of FBN Holdings Plc over the proposed N350bn private placement has raised questions about corporate governance and transparency. However, some shareholders h...
10th January 2025
Govt budgets 53% more allocations to military retirees
The Federal Government has proposed a 53 per cent increase in the 2025 budget allocations for military retirees following a series of protests over unpaid entitlements. Findings by The PUNCH showed th...
10th January 2025
Minister threatens to terminate road construction contract over delay
The Minister of Works, David Umahi, has warned the contractor of the East-West Road, Section III (Eleme Junction – Onne Junction), Messrs Reynolds Construction Company, to deploy more resources ...
10th January 2025
Delta Air Lines introduces Nigerian delicacies on Lagos-Atlanta flight
United State carrier Delta Air Lines has announced the inclusion of local dishes into food options that will be made available to passengers, on its Lagos-Atlanta flight. In a statement made available...
10th January 2025
Marketers, oil firms sign deal to build 50,000bpd refinery
Nigeria’s effort to boost its refining capacity seems to be paying off, as petroleum product retailers signed a deal with three oil companies to establish a 50,000 barrels per day capacity refinery....
10th January 2025
Jos Disco blames poor power supply on low allocation
The management of Jos Electricity Distribution Company has announced a temporary reduction in load allocation due to limited power supply from the national grid “We regret to inform you that load sh...
10th January 2025
BPSR partners firm on Ibrahim Arabi reforms
The Federal Government through the Bureau of Public Service Reforms has partnered with Niche Customer Experience Consulting Firm to boost Nigeria’s public service delivery. The agreement was formali...
10th January 2025
Equity market record N793bn gain
The Nigerian Stock Exchange recorded a positive close on Thursday, with the All-Share Index rising by 1.25 per cent to close at 105,530.74 points, up from 104,230.73 points. In line with the growth in...
10th January 2025
Nigeria’s beverage, food industries hit N10.84tn market cap
Nigeria’s beverage and food sectors have collectively achieved a total market capitalisation of N10.84tn, according to end-of-Wednesday trading data on the Nigerian Exchange Limited. The beverage se...
10th January 2025
Inflation, bond selloff trigger global stock market slump
Global stock markets faced downward pressure on Thursday, as the recent surge in inflation and a widespread bond selloff continued to affect investor sentiment, Reuters reported. The U.S. dollar remai...
10th January 2025
Stockbrokers’ institute appoints new CEO
The Chartered Institute of Stockbrokers has appointed Ayo Adeonipekun as its new registrar and chief executive officer. Adeonipekun, with over 25 years of experience in finance and corporate managemen...
10th January 2025
Power stagnates at 4,500MW despite $3.23bn loans
Nigeria’s electricity generation has continued to hover around an average of 4,500 megawatts despite the country securing loans totalling over $3.23bn in about four years from international financia...
10th January 2025
Coronation Insurance rewards customers with N30m
Coronation Insurance Plc has rewarded customers who emerged winners of its ‘Insure & Win’ promo with prizes worth N30m. According to a statement, Coronation’s promo was an effort to promote ...
10th January 2025
Platform unveils engagement reward system
Social media platform Klouto has unveiled plans to reward users for their meaningful contributions and interactions online. Klouto, founded by Chukwuemeka Osuofia, is set to launch on January 10, 2025...
10th January 2025
Groups reveal 100 business influences to watch in 2025
Rank Bank, in partnership with Top100ng, has unveiled a list of 100 Nigerian business owners and professionals to watch in 2025. The list was unveiled at the recently held inaugural Top 100 Event, spo...
10th January 2025
Mouka, Lagos State celebrate New Year babies
Mouka has marked 2025 by celebrating the first babies born in Nigeria for the year as part of its annual brand tradition. Mouka, in a statement, noted that the initiative, spanning 13 states, showcase...
10th January 2025
MABA partners firm to boost African exports
Made in Africa Brand Ambassador has partnered with Denca Global Courier Services Ltd. (DGC Express) to promote African products on the global stage. In a statement, the body noted that the collaborati...
10th January 2025
IMAN decries alleged importers harassment
The Importers Association of Nigeria has decried unauthorised operations involving illegal arrests, harassment, extortion, and intimidation of importers across the country. IMAN, in a statement by its...
10th January 2025
Marketers to balance sales strategy for growth – EXMAN
The Experiential Marketers Association of Nigeria has predicted marketing communications strategies in 2025 will pursue a strategy balancing compassion and profit-seeking. In a telephone interview, EX...
10th January 2025
Meta to test eBay listings on Facebook marketplace
Meta announced on Wednesday that it would launch a new test in Germany, France, and the United States, enabling buyers to browse listings from eBay on Facebook Marketplace and complete their transacti...
9th January 2025
CBN stops extension of export proceeds repatriation
The Central Bank of Nigeria has suspended approvals for the extension of export proceeds repatriation on behalf of exporters, effective immediately. This directive, issued via a circular dated January...
9th January 2025
Hunger: Tinubu under pressure to dump food import waiver
The administration of President Bola Tinubu is currently under pressure to dump the food import waiver that it announced in July 2024. Multiple sources at the Presidency said the pressure has been com...
9th January 2025
N100bn grant: PETROAN denies seeking ‘free money’ from FG
The Petroleum Product Retail Outlet Owners Association of Nigeria has clarified that the N100bn grant it requested from President Bola Tinubu is a loan and not free money. The PUNCH recalls PETROAN re...
9th January 2025Chinese bank supports Kano-Kaduna railway with $254m loan
The China Development Bank has announced the approval of a $254.76m (€245m) loan to support the Kano-Kaduna railway project in Nigeria. According to information released on its website on Tuesday, t...
9th January 2025
LGs to benefit from SEC borrowing framework
The Securities and Exchange Commission has announced plans to strengthen its regulatory framework for borrowing by both government and corporate entities, with an emphasis on ensuring financial sustai...
9th January 2025
Why some stations sell petrol above N1,000/litre — Marketers
Marketers of petroleum products say filling stations still sell Premium Motor Spirit, otherwise called petrol, above N1,000 per litre because they have yet to sell out the old stock. According to them...
9th January 2025
Customs deploy IT for transparent recruitment process
The Nigeria Customs Service will be deploying an information technology strategy to ensure transparency in its ongoing recruitment processes, The PUNCH has learnt. A source at the Service exclusively ...
9th January 2025
