Dec 23, 2024 · By Adedapo Adesanya Nigeria's Dangote Refinery is now operating at 85 per cent capacity and is on course to deliver European-standard products by January 2025. This was disclosed by Mr Edwin Devakumar, the Vice President of Dangote Industries Limited and the head of the $20 billion refinery. The 650,000 barrels

Dec 13, 2024 · By Dipo Olowookere Increased appetite for one-year Nigerian treasury bills forced the Central Bank of Nigeria (CBN) to trim the stop rate at primary market auction (PMA) conducted on Wednesday. Business Post reports that the rate was brought down by 0.13 per cent during the exercise by the bank to 22.80 per cent from

Dec 27, 2024 · By Modupe Gbadeyanka Stanbic IBTC Bank has solidified its position as the leading bank for capital importation in Nigeria, capturing an impressive 28.30 per cent of total foreign capital inflows in the first nine months of 2024, according to data from the Central Bank of Nigeria (CBN). The central bank said the

Jan 7, 2025 · By Aduragbemi Omiyale Guaranty Trust Holding Company (GTCO) Plc has completed the first phase of its equity capital raise programme aimed to boost the capital base of its banking arm, GTBank Nigeria Limited. Recall that about a year ago, the Central Bank of Nigeria (CBN) gave financial institutions in the country till

Dec 31, 2024 · By Dipo Olowookere Banking operations at the branches of most financial institutions in Nigeria will end earlier than expected today, Tuesday, December 31, 2024. The majority of them have sent messages to their customers to inform them of this development. Business Post sighted some of these notices sent by the banks

Nov 15, 2024 · By Dipo Olowookere Subscription for the N239.4 billion rights issue of United Bank for Africa (UBA) Plc is commencing today, Friday, November 15, 2024. The bank is offering to its shareholders one new share for five existing shares in a bid to further strengthen its regulatory capital and positions for growth in

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Jan 9, 2025 · By Aduragbemi Omiyale The management of First Bank of Nigeria (FBN) Holdings Plc has assured that the boardroom crisis rocking the company would not affect its operations. Recall that a group of shareholders with 10 per cent equity stake in the financial institution asked for an Extra-ordinary General Meeting (EGM)

Nov 26, 2024 · By Adedapo Adesanya The Central Bank of Nigeria (CBN) has raised the monetary policy rate by 25 basis points to 27.50 per cent to further tackle rising inflation in Nigeria. This was disclosed by the Governor of the apex bank, Mr Yemi Cardoso, at the end of the 298th Monetary Policy Committee (MPC) meeting in Abuja.

Jan 3, 2025 · By Dipo Olowookere The first trading session of 2025 on the floor of the Nigerian Exchange (NGX) Limited ended on a positive note, with a 0.25 per cent rise on Thursday. This surge was influenced by buying pressure in the insurance, banking and consumer goods sectors, which closed higher during the session by 9.50 per