Citigroup expects $1 billion loss from Russia exit
Citigroup Inc. is expected to incur a significant loss of over $1 billion from the sale of its remaining business […]
African Business News
Stay updated with the latest African business news, including market trends, economic updates, and insights into industries across the continent.
NDIC boss warns 50 percent cost ratio limits financial buffer
The Nigeria Deposit Insurance Corporation (NDIC) has expressed concerns that the Federal Government’s 50 per cent cost-to-income ratio policy is
Geregu Power takeover: MA’AM Energy buys 77% stake
MA’AM Energy Limited has acquired a 77% stake in Geregu Power Plc, following a restructuring of the ownership of its
Nigeria Electricity Restored After Grid Collapse
Electricity distribution companies in Nigeria have announced the restoration of power supply in parts of their franchise areas following a
NNPC Sells Stakes in Oil and Gas Assets
The Nigerian National Petroleum Company Limited has initiated a process to divest stakes in some of its oil and gas
Naira appreciates against US dollar after holiday
The Nigerian naira has appreciated significantly against the US dollar in the parallel foreign exchange market. According to a Bureau
Nigeria Tax Reforms Won’t Cripple Aviation Industry
The Federal Government of Nigeria has disputed claims made by Air Peace Chairman and CEO, Allen Onyema, that the country’s
Nigeria Grid Collapse Causes Widespread Outages
Nigeria’s national grid has experienced another collapse, resulting in power outages across several parts of the country. According to updates
Otedola sells Geregu Power stake for N1trn
Billionaire businessman Femi Otedola has sold his majority stake in Geregu Power Plc, a leading Nigerian power generating company, for
African Business News
Stocks steady as investors await US interest rates clues
European stock markets stabilized on Monday following a mixed performance in Asia, as investors awaited fresh indications on the outlook
Nigeria fuel price reduction benefits Nigerians
The Nigerian National Petroleum Company Limited’s (NNPCL) Group Chief Executive Officer, Bayo Ojulari, has stated that Nigerians are the primary
African Business News
Nigeria Tax Reform Implementation Suspended
The Nigerian government is facing calls to halt the implementation of new tax laws amid controversy over alleged alterations to