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Business

PenCom rues effects of inflation, naira devaluation on pension funds

The National Pension Commission (PenCom) has decried the effects of high inflation, devaluation of the naira, and the lingering effects of unorthodox monetary policies...

Business

Naira Depreciation Responsible For N1.7tn Manufacturers’ Losses-FIRS

The Chairman of the Federal Inland Revenue Service (FIRS) Zacch Adedeji said manufacturing companies in Nigeria lost about N1.7tn as a result of naira...

Business

MTN Owes Creditors, Others N977bn As Naira Depreciation Bites Harder

MTN Nigeria Communication Plc said it owes its capital providers N977.4bn in 2023 due to high interest rates and naira devaluation.The telecom services provider...

Business

After N392.6bn Net Loss Induced By High-Interest Rate, Naira Crisis, MTN Push For Tariff Hike

Nigeria’s biggest telecoms provider, MTN Nigeria Plc is battling with the country’s harsh operating environment which has dragged it to a N392.6bn loss after...

Business

BUA Cement Suffers 49% Decline In Profit As Electricity Bills, Dollar Crisis Erode Gains

Despite the increase in price by cement manufacturers early in the first quarter of the year, BUA Cement Plc has recorded 49.1 per cent...

Business

Renaissance Capital Says Naira Undervalued By 30%

Renaissance Capital Africa has said that the Naira is currently under-valued by about 30 per cent.The company said in its economic report that 2024...

Business

Experts Kick Against 45% Uniform CRR For Banks, Hail CBN’s Decision On Recapitalisation

Economic experts on Friday commended the Central Bank of Nigeria’s (CBN) new minimum capital requirements for banks, pegging the minimum capital base for commercial...

Business

CBN Lacks Forex To Defend Naira, Says Economist Intelligence Unit

The Central Bank of Nigeria does not have the liquidity to defend the naira, which nearly depreciated to N1900 per dollar in February 2024.Economist...

Business

To Avoid Repeat Of Losses Recorded In 2023, Nigerian Breweries Effects Another Price Increment

Nigerian Breweries Plc has fallen back on price increment to avert a repeat of the losses it made in 2023.Last year was terrible for...

News

NLC Suspends Protest, Extends Strike Ultimatum To March 13

The Nigeria Labour Congress (NLC) has called off the Wednesday February 28 2024 protest.This is as organised labour revealed that the seven days initial...

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