Tag Archives: Business Gist

The Nigerian Exchange Limited once again closed on a negative note with a loss of N5 billion due to sustained sell pressure.  The market performance indices, NGX All Share Index, depreciated by 0.02%. In the same vein, Market Capitalization declined by N5 ...

No fewer than 20 fish farmers in Ogun State have been hospitalised due to shock after losing N500 million investment to flooding. The colleagues of the fish farmers who operated in Ijebu-Ode, on Thursday, stormed the Governor’s Office in Abeokuta, ...

The Central Bank of Nigeria, on Tuesday, raised the interest rate to 14 per cent. The new interest rate comes barely two months after the apex bank raised the interest rate to 13 per cent. This was disclosed by the ...

He Left the UK to Build the Biggest Drink Company in Nigeria is another episode of my promoting Africa series where I feature black entrepreneurs all across Africa who have built successful businesses and they tell us how they did ...

A giant ship’s engine broke down and no one could repair it, so they took it to a Mechanical Engineer with over 40 years of experience.He inspected the engine very carefully, from top to bottom. After seeing everything, the engineer ...

The dollar exchanged at N603 (average) at Lagos and Abuja parallel markets on Tuesday, indicating a worsening liquidity crisis in the foreign exchange market of Africa’s biggest oil producer.Between June 2021, and June 2022, the dollar-to-naira exchange rate has risen ...

The Central Bank of Nigeria (CBN) has fined three banks a total of N800million for failing to comply with the directive to block customers from transacting in cryptocurrencies.Recall that in February 2021, the apex bank directed banks to close accounts of ...

When prices are high, there is a lot of incentive for people to try and make money from it in the export market as they expect to make more money. This is according to Wale Okunrinboye, Head of Research at ...

The Federal government has turned off some illegal financial institutions operating in a few elements of Lagos State.Naija News reports that the illegal financial institutions were turned off following customers’ complaints of malpractices and invasion of privacy. In a conversation ...

Nigeria has instituted legal action in a London court against American banking and financial service group, JP Morgan Chase, claiming over $1.7 billion in damages over its role in the disputed 2011 Malabo oil deal, as the hearing commences on ...