Business News

Lagos State Government seals Vaniti Club House over traffic law violations, illegal parking

August 4, 2025

President Tinubu rewards D’Tigress Players with $100,000 each, national honours for Afrobasket victory

August 4, 2025

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Business News

Business and economic news from Nigeria and around the world.

Nigeria Customs Service shuts 272 car marts over smuggled car sales , Automobile dealers, Customs at loggerheads over vehicle smuggling, import duty , January 2020 is no terminal date; Borders will remain shut after then - Customs , FG bans fuel supply to border petrol stations, order threatens businesses, jobs, Ban on fuel distribution to border filling station begins to affect network providers , Nigeria Customs Service wants FG to impose this tax on petrol importers , Experts lament rising inflation over border closure, Closure of border petrol stations lowers fuel consumption by 30% - Customs Boss , Customs redeploys officers in charge of anti-smuggling at border , Nigerian customs records N1.3tr revenue in 2019, exceeds target by N404bn , Customs denies spending N1.6 billion on recruitment exercise alone, Customs officers must declare their assets annually – Customs boss, Nigerian Customs move to go digital in 2022

Customs denies spending N1.6 billion on recruitment exercise alone

by Abiola Odutola

The Nigeria Customs Service (NCS) has denied the claim of Ade Fadahunsi that it paid a consultant N1.6 billion to...

NDDC, Cash transfer, President Buhari, non-oil Exports, oil revenue, export revenue, FG Waives import duties for medical supplies, Orders Customs to expedite clearing, Presidency faults report on Kyari as Buhari didn’t cancel memos, appointments approved by him

Market Views

Now that President Buhari has signed the Finance Bill into law

by CSL Stockbrokers

Yesterday, President Muhammadu Buhari signed the Finance Bill into law, hoping it would support the implementation of the 2020 budget.

FAAC, IGR, Fiscal federalism in Nigeria, NEC Inauguration, Bailout Fund: FG begins deduction of N614 billion from states’ allocation in 2 weeks , Ekiti, Enugu, Bayelsa, 12 others attract no investment in 1H , States’ debt stock, Fiscal federalism

Blurb

States receive N2.53 trillion allocation in 2019

by Bamidele Samuel Adesoji

State governors in Nigeria shared the sum of N2.53 trillion gross allocation in 2019 (January – November).

Appointments

Champion Breweries Plc appoints new Managing Director

by Chidinma Nwagbara

The Board of Champion Breweries Plc has notified the NSE of the appointment of Mr Georgios I. Polymenakos as the Company’s Managing Director.

Nigerian stock exchange, All share index, Nigerian bourse, Investors, Bulls gather momentum ASI up 0.48%, gained N55.3 billion, Dangote ,MTN & Gtbank hit a home run as Nigeria’s bourse continues bullish momentum

NSE records first loss in 2020, as ASI dip 1.18%

by Samuel Oyekanmi

The stock market traded bearishly on Tuesday for the first time this year, having dipped 1.18% of the All-Share index,

Appointments

Eterna Plc appoints new Executive Director

by Chidinma Nwagbara

The Board of Eterna Plc has notified the NSE of the appointment of Nnamdi Obiagwu as the Company’s Executive Director/Chief...

NSE moves to protect investors’ data , Ekiti, Osun, Delta, Imo, 9 others raise over N500 billion bonds in 10 years, Equities: Foreign investors remain net sellers of Nigerian equities, Top 10 stockbroking firms traded N1.35 trillion on stocks in 2019, Equities: A bullish run to start the year, NSE to sustain growth in 2020, CEO assures, Commodities , NSE PUBLISHES GUIDANCE TO FACILITATE EFFECTIVE VIRTUAL MEETINGS FOR STAKEHOLDERS AMIDST COVID-19

NSE to sustain growth in 2020, CEO assures

by Abiola Odutola

The Nigerian Stock Exchange (NSE) has assured that the growth trajectory witnessed since the beginning of the year would be...

Barcelona overtakes Real Madrid on biggest earners’ list

by Fakoyejo Olalekan

Real Madrid have lost its position to Spanish League rival, Barcelona, on the list of the highest-earning football clubs in...

Old Mutual’s sacked CEO has just lost a lawsuit against the company

by Emmanuel Abara Benson

A group of South African judges have ruled in favour of Old Mutual Limited in a case filed against it by its former CEO,...

The Nigerian Electricity Regulatory Commission (NERC), National electricity grid collapses again, as NUEE suspends strike action , FG to increase electricity tariffs in order to improve power supply, Power: Liquidity crisis-same old story in 2020?, GenCos urges NBET to pay up N1 trillion debt, Electricity Tariff: FG, electricity stakeholders to work on equitable rate , Power: NERC applies "brakes" on hike in tariffs, NERC to sanction 7 DisCos over uncapped estimated billing

GenCos urge NBET to pay up N1 trillion debt

by Chidinma Nwagbara