Economy Archives — City Business News

April 6, 2025 No Responses

CBN Injects $197.71m To Boost Liquidity

The Central Bank of Nigeria (CBN) has injected $197.71 million to boost market liquidity and stability in the foreign exchange market. In a statement on Saturday, CBN’s Director of Financial Markets Department, Omolara Duke, said the apex bank has noted recent...

April 5, 2025 No Responses

Tinubu Appoints Sotinrin As Bank Of Agriculture MD

President Bola Tinubu has appointed Ayo Sotinrin as the new Managing Director of the Bank of Agriculture, effective immediately. A statement issued on Friday by the President’s spokesperson, Bayo Onanuga, explained that Sotinrin brings a diverse and extensiv...

April 5, 2025 No Responses

United Capital Shareholders Get M14.4b Dividend For 2024

Shareholders of United Capital Plc has approved a total dividend payout of N14.4 billion for the 2024 financial year, representing 33% increase from the previous year. Speaking at the company’s 12th Annual General Meeting (AGM) held at the Transcorp Hi...

April 5, 2025 No Responses

NNPCL Appoints New Senior Management Team

The Nigerian National Petroleum Company Limited (NNPCL) has announced the appointment of a new eight-man Senior Management Team. The recent announcement followed the appointment of the Group Chief Executive Officer (GCEO) and Board of Directors. Disclosing thi...

April 4, 2025 No Responses

PCNGi To Inaugurate CNG Refuelling Stations In Abuja, Abia, Enugu, Kogi, Ekiti, Others

The Presidential Compressed Natural Gas Initiative (PCNGI) has concluded plans to inaugurate new CNG refuelling stations across five states and the federal capital territory (FCT).In a statement on Friday, Kenechukwu Chukwu, head of stakeholder management and ...

April 4, 2025 No Responses

Nigeria, Volkswagen To Renew Assembly Plant Partnership

The Nigerian Government on Thursday, opened discussions with representatives of Volkswagen Group Africa as part of measures to boost the automotive industry.City Business News reports that the meeting, held at the Bank of Industry office in Abuja, was attended...

April 4, 2025 No Responses

EFCC Reaffirms Commitment To Economic Growth

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has reiterated his commitment towards using the anti-corruption fight to stimulate growth in the economy. He stated this in Abuja on Thursday, April 4, 2025...

April 4, 2025 No Responses

Photo News

Managing Director/Chief Executive Officer, Central Securities Clearing System (Nigeria) Plc, Mr. Haruna Jalo-Waziri (left) receiving the Lagos State government Plaque from Governor Babajide Sanwo-Olu, during a courtesy visit at Lagos House, Ikeja on Thursday, ...

April 4, 2025 No Responses

Seplat Energy Joins EITI As Supporting Company

Nigeria’s leading indigenous energy company, Seplat Energy Plc, in 2024, became a registered EITI Supporting Company, reinforcing the Company’s commitment to transparency, accountability, and global best practices. This milestone was recognized on th...

April 3, 2025 No Responses

Trustcrow Unveils Property Title Search Report, Inspection Report For Nigerian Real Estate Market

Trustcrow, a leading property technology firm, has launched its flagship products, Title Search Report and Property Inspection Report, as a way to provide buyers with intelligence on properties so they can eliminate uncertainty in property transactions and fig...

April 3, 2025 No Responses

CBN Explains $23b Net Reserve

Nigeria’s Net Foreign Exchange Reserve (NFER) hits $23.11 billion at the end of 2024, the highest level in over three years, the Central Bank of Nigeria (CBN), disclosed on Wednesday. According to CBN, the development reflects a substantial improvement in...

April 3, 2025 No Responses

US Slams 14% Tariff On Nigerian Exports

April 2, 2025 No Responses

Tinubu Reconstitutes NNPC Board, Appoints Ojulari Group CEO

President Bola Ahmed Tinubu has approved the reconstitution of the Nigerian National Petroleum Company (NNPC) Limited board, removing the chairman, Chief Pius Akinyelure and the group chief executive officer, Mallam Mele Kolo Kyari. City Business News reports ...

April 2, 2025 No Responses

EU, UK Fine Carmakers $600m Over Recycling Cartel

Antitrust authorities in the EU and Britain on Tuesday fined a cartel involving some of the world’s biggest carmakers about 550 million euros ($594 million) for preventing competition on vehicle recycling. The European Commission said 15 manufacturers,...