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Dangote Refinery commences Production
The Dangote Refinery has started production on Friday, January 12, 2024. The largest single-train refinery in the world started operations in the early hours of Friday. Six million barrels of crude oil supply were…
BlackRock to acquire Adebayo Ogunlesi’s Global Infrastructure Partners for $12.5 billion
BlackRock Inc. is set to acquire Global Infrastructure Partners, owned by Nigerian investment banker Adebayo Ogunlesi, for over $12.5 billion in cash and stock, Financial Times reported on Friday. According to the…
Dangote: Shareholders, experts call for caution in corporate matters
Capital market stakeholders have called for a judicious approach by government and law enforcement agencies in handling…
Dangote Refinery to reach full capacity in June as crude demand up by 2mbpd
Dangote Refinery may produce at its full capacity of 650,000 barrels per day by the second quarter of this year.…
Shippers kick as Maersk imposes arbitrary $300 PSS on Nigeria-bound cargo
· Importers to pay more for cargoes from China, other Asian countries Nigerian shippers have kicked against the imposition of a $300 peak…
Femi Otedola’s net-worth rises to $1.2 billion, rejoins Forbes billionaire list as Nigeria 4th…
Billionaire investor Femi Otedola has surged to the fourth position on Nigeria’s list of top billionaires, with a current valuation of $1.2 billion, according to Forbes. This recent reassessment is attributed to his…
Nigeria dollar bonds fall seven consecutive days following EFCC raid on Dangote
Nigeria’s dollar bonds maturing 2025 have fallen for seven consecutive days for their longest losing streak since September, suggesting that investors are watching what happens…
Hassan Imam: Meet the newly appointed CEO of Keystone Bank
The Central Bank of Nigeria has unveiled the latest executives to assume leadership roles in the recently dissolved boards of three prominent banks. Among the appointees is Hassan Imam, now designated as the Chief…
Meet Yetunde Oni, Union Bank’s new Managing Director/CEO
Following the dissolution of the Board and Management of three prominent banks Union Bank, Keystone Bank, and Polaris Bank on Wednesday, the Central Bank of Nigeria (CBN) announced the appointment of Yetunde Oni as the…
Tinubu’s Forex policy makes planning easier – Airtel boss, Ogunsanya
Airtel Africa’s CEO Segun Ogunsanya has praised President Bola Tinubu’s foreign exchange policy, calling it “slightly more predictable” adding that it facilitates better business planning. …
News of Zenith Bank CEO arrest-false, says Zenith bank
The news currently making the rounds on social media and in some news outlets about the arrest of Ebenezer Onyeagwu, the Group Managing Director and Chief Executive Officer of Zenith Bank Plc, by the Economic and…
Constant blackout fails to dim Discos’ revenue haul
Despite persistent blackouts experienced by many households and businesses across the country, Nigeria’s electricity distribution companies (DisCos) have seen their incomes soar, according to findings by BusinessDay. Data…
Dangote’s ordeal: EFCC raid sparks investors’ fear
The timing, targeting, and approach of the raid by the Economic and Financial Crimes Commission (EFCC) on the corporate headquarters of Dangote Industries Limited has raised significant concerns. It has led to questions…
NNPC recorded N2.5trn profit in 2022 — ‘highest’ ever
The Nigerian National Petroleum Company (NNPC) Limited says it raked in a profit of N2.548 trillion at the close of the financial year which ended in December 2022.…
CBN Sets Up Interim Managers For Union Bank, Polaris, Keystone
The Central Bank of Nigeria (CBN) has set up interim management for Union Bank, Keystone Bank and Polaris Bank whose boards and management were…
CBN Sacks Boards Of Titan Trust, Union Bank, Keystone Bank, Polaris
President Bola Tinubu has started the implementation of the report of the Special Investigator on Central Bank of Nigeria (CBN) and Related entities, Jim Obazee with…
Naira crosses N1,000/$ mark again on official market
The Nigerian Naira extended its decline, crossing the N1,000 per dollar mark for the second time in 2024 on the official foreign exchange (FX) market. The naira fell to 1,089.51/$ on Tuesday from 856.57/$ on the…
How Auditor Deloitte Missed A Nigerian Company’s Massive Fraud
Hindenburg Research, known for sniffing out corporate scams, took aim in June at an obscure Nigeria-based outfit named Tingo Group. Hindenburg rolled out a…
Revealed: How Moruf Oseni’s Wema Bank Allegedly Incurred Over N8 Billion In Court Cases, Lost N239…
Moruf Oseni’s Wema Bank incurred N8.067 billion in court cases as at September 2023 and also lost N239.920 million to fraud and burglary in the…
Cash scarcity persists despite CBN’s assurance of availability
Customers have continued to groan and resort to high cost Point of Sale (PoS) services for obtaining cash, amid .lingering cash scarcity. Despite the Central Bank of Nigeria (CBN) assurance to the public of…
Boeing’s CEO admits mistake, vows to prevent future mid-air blowouts
Boeing’s CEO, Dave Calhoun, took a proactive stance in addressing the scary mid-air panel blowout incident on an Alaska Airlines flight. He stood before Boeing staff, acknowledging the seriousness of the situation…
Cadbury board moves to sell 402m shares over inability to pay $7.7m debt
Cadbury Nigeria has offered to swap its $7.7 million (N7.03 billion) debt owed to Cadbury Schweppes Overseas Limited for more equity. Cadbury Schweppes Overseas Limited, controlled by Mondelēz International Inc, is a…
EFCC invasion of Dangote, others sends negative signals to investors, says MAN
The Director-General of the Manufacturers Association of Nigeria (MAN), Mr. Segun Kadri has stated that the way and manner the Economic and Financial Crimes…
UBA exceeds N1tn market capitalisation mark
United Bank for Africa (UBA) Plc, yesterday, joined the elite group of companies with market capitalisation of over…