Business

Indigenous energy company, Seplat Energy Plc, has asked the Court of Appeal to set aside the judgement of Justice Inyang Ekwo of the Federal High Court Abuja which granted an ex parte interim order against the company and some of its officers. Justice Ekwo had granted the temporary ex parte …

Airtel Africa has appointed Carl Cruz as the Managing Director and Chief Executive Officer of Airtel Nigeria. This is contained in a statement by the company’s Group Chief Executive Officer, Segun Ogunsanya, on Thursday in Lagos. Ogunsanya said the appointment would take effect from May 5, 2023. He also said …

A legal practitioner, Dapo Oyewumi has urged the Central Bank of Nigeria (CBN) to immediately find a solution to the inflationary effect the intended naira redesign is having on the economy. Oyewumi, who made the appeal on Monday, said prices of commodities have further gone up since the new policy …

The Central Bank of Nigeria (CBN) says it is leading the drive towards diversifying the nation’s economy away from oil through its numerous interventions. CBN Governor, Godwin Emefiele, said this at the 33rd Seminar organised by CBN for the Finance Correspondents and Business Editors Saturday in Lagos. The conference, which …

Seplat Energy Offshore Limited has entered into an agreement to acquire the entire share capital of the Nigerian unit of Exxon Mobil Corporation – Mobil Producing Nigeria Unlimited (MPNU). The former’s Chief Financial Officer, Emeka Onwuka, who announced this in a statement on Friday, however, said the completion of the …

The Central Bank of Nigeria (CBN) has directed commercial banks to adopt the exchange rate in the importer and exporter window (I&E) for cross border payments through the Pan-African Payments and Settlement System (PAPSS). PAPSS is a centralised payment and settlement infrastructure for intra-African trade and commerce payments. It was …

The Central Bank of Nigeria has announced the postponement of the launch of the country’s digital currency, eNaira. According to the CBN spokesperson, Mr Osita Nwanisobi, the decision to postpone the unveiling of the E-naira, scheduled for October the 1st, was made to avoid any distractions from the country’s 61st …

Stakeholders including the Manufacturers Association of Nigeria and the Association of Small Business Owners on Sunday lamented the worsening scarcity of forex in the country, saying they were already cutting costs as their profits were shrinking. MAN, ASBON and the Lagos Chamber of Commerce and Industry and industrialists in separate …

The Central Bank of Nigeria (CBN) yesterday announced the formal engagement of global fintech company, Bitt Inc., as technical partner for its proposed digital currency, also known as e-Naira. CBN Governor, Mr. Godwin Emefiele, disclosed this in Abuja. But the International Monetary Fund (IMF) cautioned that countries seeking to adopt …

Organisers of the International Halal Expo, Abuja Chamber of Commerce and Industry (ACCI) have stated that Nigeria is expected to attract over $150 billion investment from the Halal trade exhibition. The organisers stated this at a virtual press conference to herald the expo scheduled to hold on the 14th to …