Category: nairalaw.com

TotalEnergies Profit Slumps 20% as FX Losses Bite Total Energies and Marketing Nigeria Plc’s profit declined by about 20%, according to details from its financial statement as higher funding costs…

IMF Estimates 3.1% Global Economic Growth for 2024 The International Monetary (IMF) says global growth is projected at 3.1 per cent in 2024 and 3.2 per cent in 2025. This…

Naira Loses Value 4-Month after CBN Stops FX Injections Trading near N1490 per US dollar at the Nigeria autonomous foreign exchange (forex) market, the naira has lost significant value just…

Nigeria Records Growth in Active Calls, Internet Subscriptions The Nigerian Communications Commission (NCC) says the country has witnessed a steady increase in active voice and internet subscriptions, Dr Reuben Muoka,…

Naira Crash Makes FX Rate in Parallel Market Cheaper It has become cheaper to trade foreign currency in the parallel market than the official window as the Nigerian naira crashes…

Geregu Power Declares N8 Dividend as Profit Spikes Geregu Power Plc’s earnings swelled by 58% due to strong operating performance that boosted its profitability level in 2023. Due to a…

FX Backlog: CBN Pays Additional $64m to Foreign Airlines The Central Bank of Nigeria (CBN) has concluded the payment of all verified claims by airlines with an additional 64.44 million…

NGX Falls by N857bn as Equities Investors Take Profit The equities segment of the Nigerian Exchange (NGX) closed trading on Tuesday on a negative note as investors dumped Tier-1 bank…

Nigeria Improves in Corruption Perception Index The Civil Society Legislative Advocacy Centre (CISLAC) and Transparency International (TI), have said that Nigeria’s rating has improved on the corruption perception index. Mr…

Defunct Skye Bank Loan: Sen.Victor Umeh Ordered to Repay N136m to AMCON A Federal High Court in Abuja has ordered Sen. Victor Umeh to pay about N136 million to the…