BUSINESS NEWS

Oil prices jumped by more than $6 yesterday, with Brent crude climbing above $114 a barrel, as European Union (EU) nations considered joining the United States in a Russian oil embargo  after a weekend attack on Saudi oil facilities. Brent crude futures were up $6.52, or six per cent, at $114.45 a barrel by, adding […]

  Access Bank Plc, has announced that its profit after tax (PAT) rose to N160.22 billion from N106.01 billion in 2020, representing a 51.13 per cent increase year-on-year (y/y). According to the group’s 2021 full-year financial result, its gross earnings stood at N971.88 billion as against N764.71 billion recorded in the corresponding year of 2020 while […]

The Maize Association of Nigeria (MAAN) has said the country will witness a crash in maize price  following increase in the production of the commodity. MAAN said President Muhammadu Buhari would unveil a maize pyramid in Kaduna next week to showcase increased production of the commodity. This, it said, would stop maize merchants from hoarding […]

Nigerian exporters in the non-oil sector have been urged to look into the niche markets to benefit from abundant opportunities in the United States, United Kingdom and the entire European Union niche markets. The Executive Director of the Nigerian Export Promotion Council (NEPC), Dr. Ezra Yakusak, made this call at Ibadan during a workshop for […]

The National Bureau of Statistics, NBS, says the Consumer Price Index, CPI increased by 15.70% year on Year in the month of February. This is 1.63% lower than 17.33%  recorded in the previous month. The Statistician General of the Federation, Dr. Simon Harry disclosed this on Tuesday during the monthly press briefing at the bureau’s […]

The stock market is considering a major amendment to its rules to checkmate boardroom intrigues and block information arbitrage that tend to confer advantages on companies’ directors. The new rules also expand the scope and authority of corporate financial reporting while eliminating gaps that allow companies to sidetrack relevant rules in stage-managing corporate compliance. The […]

The Federal Government at the weekend unveiled new security arrangement for the nation’s free trade zones in line with international best practice to guard investors and guarantee investors’ confidence in the special economic zone. The government has also extended the validity period of the licences of operators in free trade zones from one to five […]

Banks based in Nigeria have suspended the use of their Automated Teller Machine (ATM) cards (debit and credit) outside the country. Automated Teller Machines-Xinhua Bank customers, as of Friday, are also no longer able to conduct online transactions priced in foreign currencies, including U.S. dollars, euros, and the British pound. Customers of Nigerian banks, including […]

The management of SON has approved a new structure in Anambra, we now have two state offices in Awka and Nnewi and a State regional office also in Awka The Standard Organisation of Nigeria (SON) has created an additional Area office and a Regional office in Anambra state to expand and deepen its operations in the state. […]

The World Bank Board of Executive Directors has approved a supplemental budget support package for Ukraine tagged Financing of Recovery from Economic Emergency in Ukraine – or FREE Ukraine – for $489 million. The package approved by the Board consisted of a supplemental loan for $350 million and guarantees in the amount of $139 million […]