Business

The Nigerian National Petroleum Company (NNPC) Limited has said that it has completed the mechanical phase of the turnaround maintenance at the Port Harcourt refinery in Rivers State. This was announced by the spokesperson of NNPC, Femi Soneye, on Thursday 21st December. According to Soneye, the national oil company has finally delivered on its promise. This means that the repairing …

The Naira appreciated to N1,225 per dollar in the parallel market yesterday from N1,240 per dollar on Monday. Similarly, in the official Nigerian Foreign Exchange Market (NAFEM), the Naira appreciated to N844.85 per dollar. According to FMDQ data, NAFEM’s indicative exchange rate dipped to N844.85 per dollar from N888.35 on Monday, signaling a N43.5 increase for the naira. Consequently, the …

Popular retail giant, ShopRite Mall, has announced its decision to cease operations at its Ade Bayero branch in Kano State, Northwest Nigeria in January. The management of the mall made this announcement in a circular which was obtained by Nairametrics. According to the Circular, the current financial situation of the mall in the state and the challenging business climate in …

Popular food delivery service, Jumia food will be shutting down operations by the end of the year in all operational countries in Africa. Jumia Food which is a subsidiary of Jumia Technologies AG will cease to operate by December, 2023 in Nigeria, Kenya, Morocco, Ivory Coast, Tunisia, Algeria and Uganda. The parent company, Jumia Technologies AG has been in business …

The Corporate Affairs Commission (CAC) is set to delist 91,843 companies who failed to file their annual returns with it. The commission on its website, published a list of 91,843 companies for delisting, which was 2,738 less than the 94,581 it initially published in August. The CAC had before August announced that it would delist 100,000 companies. The announcement was …