Business

The Federal Government earned N586.71 billion from the sale of crude from January to November last year. The earnings were 74.3 per cent short of the prorata target for the period. Oil revenue performance has fallen short of targets in recent years, as the sector buckled under crude theft and …

The Nigeria Customs Service (NCS), Federal Operations Unit (FOU) Zone A, said it seized smuggled items valued at N13.9 billion in Southwest in 2022.The unit said it also arrested 176 suspects in connection with the smuggled items in Lagos, Ogun, Oyo, Osun, Ekiti and Ondo states in the period under …

Delta becomes first major U.S. airline to introduce fast, free Wi-Fi for all, in partnership with T-Mobile. Experience coming to most domestic mainline aircraft by Feb. 1, with full availability on international and regional aircraft by the end of 2024. It’s here, it’s fast and it’s free. Delta will offer …

The Centre for the Promotion of Private Enterprise (CPPE) has called for a total review of the Finance Bill 2022, which President Muhammadu Buhari denied assent to on Tuesday, citing some irregularities. CPPE, in a statement, said the bill was hastily passed by the National Assembly without inputs from key …

Civil rights advocacy group, Human Rights Writers Association of Nigeria (HURIWA), has queried the Central Bank of Nigeria (CBN) over the scarcity of new naira notes a few weeks before the deadline for the validity of the old banknotes. Since the launch of the new notes started circulation on December …

The Central Bank of Nigeria (CBN) has insisted it followed laid-down regulations in the sale of Polaris Bank Limited. The apex bank’s Director of Corporate Communications, Osita Nwanisobi, stated this yesterday, saying relevant information and processes leading to the eventual sale of the bank are in the public space. He …

Nigerian flag carrier, Air Peace, has hit the 55 million passenger traffic mark, a milestone in its eight years of operations. Newsextra24 learnt that as of yesterday, the airline has airlifted 55,821,258 passengers nationwide and internationally. Chief Operating Officer of the airline, Oluwatoyin Olajide, said the traffic mark was a …

Financial data obtained by The Guardian suggest that deposit money banks (DMBs) had less reason to worry about liquidity last year as borrowing from the Central Bank of Nigeria (CBN) to meet urgent short-term needs dropped by 15.3 per cent to N11.01 trillion. In 2021, banks borrowed a total of …

Guaranty Trust Bank has announced that its naira cards will no longer be used for international transactions starting December 31, NaijaCover Reports.   This means customers using the GTBank mastercard can no longer use their naira debit cards to pay for transactions originated in foreign currency.   Nigerian Banks had …

Ogun State governor, Dapo Abiodun, has signed the 2023 budget into law. Signing the N472,250,694,447.57b Appropriations Bill as passed earlier by the State House of Assembly, on Thursday, Abiodun said he would ensure full implementation of all the items on the bill to sustain the momentum of Building Our Future …