KELECHUKWU MGBOJI

The Central Bank of Nigeria (CBN) spent a total of N155.63 billion as staff allowances in 2022, well above its N65.63 billion profit in the period under review. The amount was also 37.2 percent higher than the N113.35 billion incurred in…

A renowned economist, Marcel Okeke, has challenged the Taiwo Oyedele-led Committee on fiscal policy and tax reforms to create new revenue streams for cash-strapped Nigeria. He also told the committee to work towards providing relief for…

Nigeria's foreign exchange reserves dipped by $44.41 million or 0.2 percent week-on-week to $33.88 billion as of August 10 in just one week of unrelenting drawdown. The FX reserves which stood at about $34.32 billion at the beginning of…

Stocks valuation of the Nigerian Exchange (NGX) Limited dropped by N15 billion on Tuesday following intense sell pressure in Geregu Power by investors taking a profit. Consequently, market capitalisation which measures the value of traded…

The Manufacturers Association of Nigeria (MAN) said that manufacturing production decreased from N7.39 trillion in 2021 to N6.67 trillion in 2022, blaming it on the harsh economic environment remarkable of the period. Speaking at the…

The Centre for the Promotion of Private Enterprise (CPPE) has warned that a military option for the resolution of the Niger crisis would cost Nigeria a minimum of $2 billion annually, urging the authorities to explore a peaceful resolution.…

An inexorable surge in foreign exchange losses after floating the Naira, Nigeria’s local currency, has eaten deep into the financial earnings of blue chips, exposing them to foreign exchange uncertainties in the country's battered economy.…

The plan by First Bank Nigeria Holdings (FBNH) Plc to raise fresh funds has triggered a shareholder crisis which culminated in a protest today by a section of the bank’s minority shareholders at its head office in Marina, Lagos. Some of…

Significant sell-offs across major stocks in the Nigerian equities market on Tuesday triggered a bearish outlook which caused the benchmark All-Share Index to further shed 23 basis points to drop to 64,192.20 points Monday's session…

Barely five years after BUA Group, Dangote’s fiercest rival consolidated its food businesses – rice, sugar, edible oils, and flour – into a new company known as BUA Foods, Dangote Group is on the verge of a similar business combination if…