Category: Business
Shoprite’s half-year profit drop in more than a decade
Shoprite Holdings, Africa’s largest supermarket group, says its first half-year earnings declined due to currency devaluation in Angola and supply constraints in its...
Oil eases after Trump urges OPEC to curb efforts to boost prices
Oil inched lower on Tuesday to extend losses of more than three per cent from the previous session, easing after U.S. President Donald Trump called on OPEC to rein in...
Oil price tumbles after Trump tells OPEC to ‘relax’
Oil prices fell by more than two per cent on Monday, reversing earlier gains after U.S. President Donald Trump told OPEC producers to “relax” as prices were too...
‘Predictions on naira devaluation speculative, sabotage’
Alhaji Aminu Gwadabe, President, Association of Bureau De Change Operators of Nigeria (ABCON), on Monday in Lagos described prediction that the naira would fall to N415...
Google reacts to inaccurate naira conversion rates
Tech giant Google has reacted to the inaccurate figures witnessed in the conversion rate of Nigeria’s Naira currency on the eve of the country’s presidential and...
FG wins right to prosecute JPMorgan Chase over $875m Malabu oil fraud
A High Court in London headed by Justice Andrew Burrows has granted Nigeria’s plea to allow it proceed with the trial of JPMorgan Chase. The bank is alleged to...
Naira gains against dollar, closes at N358/$ at parallel market
The Naira on Friday gained N1 to close at N358 to the dollar at the parallel market in Lagos. The News Agency of Nigeria (NAN) reports that the naira traded stronger on...
Forex market: CBN provides $268.4m, CNY46.3m for agric, raw materials
The Central Bank of Nigeria (CBN) on Friday provided 340 million dollars and 46.3 million Chinese Yuan (CNY) to customers seeking foreign exchange in the agricultural...
Zimbabwe starts trading new currency
Zimbabwe started Friday to trade its new currency, the RTGS dollar, two days after the central bank announced measures to try and resolve a chronic monetary crisis. On...
Business booms in Lagos markets on eve of Saturday’s elections
Some Lagos markets witnessed business boom on Friday, eve of the 2019 general elections, as many traders said they recorded high patronage. The News Agency of Nigeria...
