CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Rabiu, Elumelu drive industrial growth as BUA foods hits N1.77tn revenue
Nigeria’s industrial and financial heavyweights, The Founder and Chairman of BUA Group, Abdul Samad Rabiu, and Chairman of United Bank for Africa, UBA Tony Elumelu have moved to deepen partnership to drive Nigeria’s industrial growth. In line with the partnership, the Rabiu recently hosted Elumelu, and his executive management team at BUA Group’s corporate headquarters in […]
GTCO’s profit up 23.2% to N1.23 trn
By Peter Egwuatu Guaranty Trust Holding Company Plc , GTCO, has recorded interest income of N1.622 trillion for the audited financial year ended December 31, 2025, up by 22.8% from N1.321 trillion recorded in the corresponding period 2024. The company also declared a dividend of N12.76 per share for the financial year 2025. The results released […]
Dangote Refinery secures $4bn syndicated loan, Afreximbank underwrites $2.5bn
By Udeme Akpan The African Export-Import Bank has underwritten $2.5 billion of a $4 billion senior syndicated term loan for the Dangote Petroleum Refinery and Petrochemicals. A syndicated loan is a financing arrangement involving a large sum of money provided by a group of lenders. In a statement confirming the deal, Afreximbank disclosed that it […]
STOCK MARKET: Investors reap N29trn in 3mths amid economic reforms
By Peter Egwuatu Nigeria’s stock market ended the first quarter of 2026 on a high note, with investors making massive gains of over N29 trillion in just three months. The strong performance comes amid ongoing economic reforms in the country. The total value of all listed companies on the Nigerian Exchange Limited (NGX), known as market capitalization, […]
Nigeria’s debts to hit N155trn as Senate approves FG’s $6bn loan request
Nigeria’s total debt stock is set to rise to N155.1 trillion, following an additional $6 billion loan request by President Bola Tinubu, hurriedly approved by the Senate yesterday.
