Businesswoman reveals what she noticed while paying salary to two of her Muslim employees
A businesswoman recently shared an unusual experience she had while paying salaries to her employees. She noticed that two of her female Muslim employees provided the same bank account details for their salary payments. Surprisingly, the account did not belong to either of them. Curious about the situation, she asked them why they shared an […]
Expect more fuel price drop amid NNPC, Dangote war – PETROAN, IPMAN to Nigerians
Nigerians should prepare for further reductions in petrol prices as the Nigerian National Petroleum Company Limited (NNPCL) and Dangote Refinery engage in a price war. Both companies have recently lowered their fuel prices, giving consumers more options. On Monday, NNPC announced its new petrol prices, setting them at N860 and N880 per litre in different […]
Investors in Nigerian stock market record N91bn gain
Investors in Nigeria’s stock market recorded a gain of N91 billion on Friday, bringing a positive end to the week after several days of losses. The market capitalisation, which started the day at N67.102 trillion, increased to N67.193 trillion, reflecting a 0.14 percent rise. Similarly, the All-Share Index moved up by 146 points to close […]
Citigroup Mistakenly Credits $81 Trillion To Customer Account
Mistakes happen, but some errors are bigger than others. Citigroup recently made headlines after mistakenly crediting a customer’s account with a staggering $81 trillion instead of the intended $280. The error occurred in April 2024 when a payment employee processed the wrong amount. A second worker also missed the mistake, allowing the transaction to go […]
Naira Appreciates To ₦1,530/$ In Parallel Market
The Nigerian Naira showed mixed performance in the foreign exchange market today. It appreciated in the parallel market, trading at ₦1,530 per dollar, an improvement from ₦1,540 per dollar on Thursday. However, in the Nigerian Foreign Exchange Market (NFEM), the Naira depreciated to ₦1,502.5 per dollar, down from ₦1,496 per dollar the previous day. This […]
CBN orders banks to publish details of dormant accounts, unclaimed balances
The Central Bank of Nigeria (CBN) has introduced a new rule that requires all banks and financial institutions to display details of dormant accounts and unclaimed balances on their official websites. This move is aimed at improving transparency and ensuring that funds in inactive accounts are properly managed. A dormant account is a bank account […]
Nigeria’s inflation drops massively to 24.48% after CPI rebase
Nigeria’s inflation rate has dropped significantly to 24.48% in January 2024, down from 34.80% in December 2024. This sharp decline follows the rebased Consumer Price Index (CPI) introduced by the National Bureau of Statistics (NBS). The rebased CPI now uses 2024 as the base year and 2023 as the weight reference period, leading to a […]
$23bn refinery biggest risk of my life. If it didn’t work, I was dead – Dangote
Billionaire Aliko Dangote has shared that his $23 billion refinery project was the biggest risk he has ever taken. In an exclusive interview with Forbes on February 17, Dangote admitted that if the project had failed, it would have been disastrous for him. The Dangote Refinery, which has the capacity to process 650,000 barrels of […]
First HoldCo: First Bank Announces New Name, Shareholders Approve New Identity
First Bank, one of Nigeria’s oldest and most respected financial institutions, has unveiled a new identity. FBN Holdings Plc, the company’s holding arm, is now officially called First HoldCo Plc (FirstHoldCo). This rebranding effort aims to create a more unified identity for the company and its various subsidiaries, both in Africa and Europe. Over the […]
NNPC reduces PMS price
The Nigerian National Petroleum Company Limited (NNPCL) is under increasing pressure to lower its petrol prices. This comes after MRS filling station, in partnership with Dangote Refinery, announced a significant reduction in fuel pump prices. On February 9, 2025, MRS filling station lowered its petrol price to N925 per litre in Lagos, with slight variations […]