Business & Economy - Page 20

By Ebere Melum-Nwogbo Nigerians lost N25.85 billion to digital payment fraud in 2025, according to Central Bank of Nigeria (CBN). Though the figure represents a significant decline from the N52.26 billion recorded in 2024, CBN, said the losses remained substantial for payment

In a major financial restructuring move aimed at boosting national reserves, the National Economic Council (NEC) has endorsed the refinancing of the $3.3 billion Project Gazelle Pre-Export Finance Facility through a new $4.5 billion arrangement designated as Project Gazelle 2. ​The approval

Sterling Financial Holdings Company Plc bucked a sector-wide pullback on Thursday, as its shares rose 6.67% to ₦8.00 to rank among the best performers on the Nigerian Exchange (NGX). In contrast, the NGX Banking Index shed 2.04% and the wider market fell

The Nigerian Naira is trading at approximately ₦1,361 to $1 USD on the official foreign exchange window today, while fresh economic indicators from the National Bureau of Statistics (NBS) reveal a marginal drop in headline inflation to 15.91% for June 2026. ​According

By Agbafo Ijeoma The naira recorded slight movements against the US dollar in Nigeria’s foreign exchange market as trading continued on Monday, with the official exchange rate standing at about N1,368.22 to one dollar. Data from the Central Bank of Nigeria (CBN)

The expansion of Bua’s Port Harcourt Terminal will be a major boost to Nigeria’s quest to be a leading maritime hub in West and Central African sub-region, the Nigerian Ports Authority (NPA) has said. The Authority disclosed that in addition to growing

Femi Otedola has spent about ₦222.2 billion on First HoldCo shares, raising his interest in the Nigerian financial group to 25.88%. Calvados Global Services bought 1,779,094,976 First HoldCo shares at ₦124.90 each. The transaction was worth about ₦222.21 billion, equivalent to roughly

By Richard Benjamin An agriculture technical expert, Mr Tony Ifeakandu, has called for coordinated efforts to tackle post-harvest losses in Nigeria’s tomato value chain, saying improved storage and preservation systems are key to stabilising supply and prices. Ifeakandu, Managing Director of Autodex

The Nigerian Exchange Group (NGX Group) Plc has announced an interim dividend of N1.30 per ordinary share for the six months ended June 30. The Group, in a statement on Sunday, said that the dividend reflected the strength of its earnings, improved