German health-care company Fresenius SE reported higher adjusted profit and revenues in the first quarter compared to the same period of the previous year, excluding Fresenius Medical Care.
German carmaker BMW reported a 26.4% drop in first-quarter net profit to €2.2 billion ($2.5 billion), as weak demand in China weighed on earnings.
ABUJA — The Federal Government has announced plans to gradually eliminate electricity subsidies, citing the unsustainable financial burden on the nation’s economy. Minister of Power Adebayo Adelabu made this known during a strategic meeting with chairmen of Nigeria’s power generation companies (Gencos) held in Abuja. Adelabu warned that the Nigerian economy can no longer sustain…
ABUJA – In a decisive effort to arrest long-standing inefficiencies in Nigeria’s refining operations, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has removed the managing directors of the company’s three major refineries located in Port Harcourt, Kaduna, and Warri. According to Peoples Gazette, the leadership shake-up, which…
LAGOS – Despite an ongoing investigation into a massive N1.2 trillion digital trading fraud that reportedly affected over 600,000 Nigerians, embattled investment platform Crypto Bridge Exchange (CBEX) has resumed operations—reigniting concerns among regulators and financial watchdogs. Two traders told to The PUNCH on Wednesday that the digital trading firm, which abruptly collapsed on April 14,…
Ozovehe Blessing, an Abuja-based school teacher, regularly sends money to her younger brother at Kogi State University. Recently, she transferred N5,000 via her mobile banking app and was charged a N10 transfer fee. When her brother withdrew the money from an ATM outside his bank’s network, he lost an additional N100 in withdrawal fees. Had…
Tether, the largest company in the digital assets industry, announced today its intention to deploy both existing and future hashrate on OCEAN, a leading Bitcoin mining pool focused on decentralisation and launched by long-time Bitcoin Core developer Luke Dashjr. This strategic move strengthens Tether’s ongoing commitment to supporting the resilience, transparency, and decentralisation of Bitcoin’s…
The Nigerian currency, the naira, shed N18 against the United States dollar at the official market on Thursday. Data from the Central Bank of Nigeria (CBN) Foreign exchange showed that the naira traded N1, 629.93/$1 as against the N1, 611.55/$1 recorded on Wednesday. This represents a loss of N18.38 for the local currency. On the…
The Nigeria Deposit Insurance Corporation (NDIC) has announced plans to commence the payment of the first tranche of liquidation dividends to depositors of Heritage Bank starting this April. This follows the revocation of Heritage Bank’s operating licence by the Central Bank of Nigeria (CBN) on June 3, 2024. Managing Director of NDIC, Mr Bello Hassan,…
The Nigerian currency, the naira, depreciated against the American dollar at the black market on Wednesday, April 9, 2025. This is even as there is no official rates from the Central Bank of Nigeria (CBN) Foreign exchange data several hours after the market closed. On the black market, the naira fell to N1,620/$1 as against…
