MTN Group has completed the sale of its operations in Guinea (MTN Guinea-Conakry) to the State of Guinea. The deal was finalized on December 30, 2024, as part of MTN’s portfolio optimization and simplification strategy under its Ambition 2025 goals. MTN Group President and CEO, Ralph Mupita, expressed gratitude for the support received from staff, … Read more
The Nigerian naira weakened to N1,541.36/$ on the first trading day of 2025, marking a 0.36% depreciation from the 2024 closing rate of N1,535.82/$. Some authorised dealers quoted the dollar at N1,545/$, an improvement from the N1,550/$ quoted on Tuesday. The parallel market saw the naira close at N1,655/$ compared to N1,670/$ on Tuesday. In … Read more
The Chartered Institute of Stockbrokers (CIS) has revealed that Nigerian banks raised approximately N2 trillion from the primary market in 2024. According to the Institute’s President, Oluropo Dada, this achievement was highlighted during a recent event at the Nigerian Exchange Limited (NGX). The fundraising reflects the banking sector’s strategic involvement in capital markets to boost … Read more
Nigeria’s economy is poised for significant transformation in 2025, driven by a cohort of powerful business leaders. These titans, with their strategic investments and visionary leadership, are set to propel the country’s growth across key sectors, including oil and gas, banking, manufacturing, power generation, and more. Their collective efforts are expected to strengthen Nigeria’s global … Read more
Despite various initiatives aimed at improving safety, security, and overall operations, Nigeria’s maritime industry continues to struggle with deep-rooted issues such as corruption, inefficiency, and limited resources, severely impacting its global competitiveness. In 2024, Nigeria’s ports ranked a disappointing 183rd out of 185 countries worldwide in terms of operational efficiency. The Sea Empowerment Research Centre … Read more
Upon assuming office in July, the Director General of the National Pension Commission (PenCom), Ms. Omolola Bridget Oloworaran, faced the monumental task of strengthening Nigeria’s pension scheme and expanding its reach. Addressing stakeholders at the PenCom/Media Conference in Lagos, themed Tech-Driven Transformation: Shaping the Pension Landscape, the DG highlighted her administration’s strides and future plans. Under … Read more
Stanbic IBTC Pension Managers has further strengthened its commitment to youth empowerment by investing N50 million into Nigerian talents across fashion, technology, music, and dance through the third season of the FUZE Talent Show held in Lagos. Winners of this year’s edition included Esther Okonta (Fashion), Grace James (Tech), Caleb Edet Tremor (Music), and Benedict … Read more
The Nigeria Customs Service (NCS) has refuted a ₦76 million bribery allegation made by a 70-year-old US returnee, Mr. Olukayode David-Albert, regarding the clearance of his vehicles and personal belongings. In a statement released on Tuesday by the Public Relations Officer of the Tincan Island Port Command, SC Ngozi Okwara, the NCS labeled the claims … Read more
KFC Nigeria has unveiled its highly anticipated Festive Meal, aiming to enhance the holiday experience for families while driving sales during the festive season. The initiative, launched on December 25, offers a variety of meal options designed to capture the festive spirit and strengthen the brand’s presence in Nigerian households. In a statement released to … Read more
Citibank Nigeria Limited is celebrating its 40th anniversary, reflecting on four decades of growth and impact in the Nigerian financial sector. The bank, originally founded as Nigeria International Bank Limited, has evolved into a key player in the country’s banking landscape. Shamsuddeen Usman, Chairman of the Board of Directors, praised Citi’s steady growth, saying, Citi … Read more