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USSD debt: Telcos threaten to withdraw service, say banks owing N200bn
The Association of Telecommunications Operators of Nigeria (ALTON) has urged banks to prioritise the payment of their unstructured supplementary service data (USSD) debt. Gbenga Adebayo, chairman of ALTON, said this during…
Man City Post Premier League Record Revenues
Manchester City have posted a Premier League record revenue of £712.8m for the 2022-23 financial year. This exceeds the record…
Indonesia Conducts First Commercial Flight Using Palm Oil-Blended Jet Fuel
Indonesia last Friday flew its first commercial flight using palm oil-blended jet fuel, as the world’s biggest producer of the commodity pushes…
Again, SEC moves to reduce N190b unclaimed dividends
The Securities and Exchange Commission (SEC) has unveiled plans to create a new e-dividend portal that would help simplify the process of…
Collective investment funds hit N2.1tn – SEC
The Director General of the Securities and Exchange Commission, Lamido Yuguda, has said the amount of Collective Investment…
Airtel pegs exchange rate for interim dividend at N858/$
Airtel Africa Plc has announced that it will pay the interim dividend for the half-year period ended September 2023 to its shareholders who will receive the payment in Naira at…
MTN Nigeria mulls 9mobile acquisition
Nigeria’s largest mobile network operator, MTN Nigeria, is said to have rebooted talks to acquire the spectrum of licence 9mobile (formerly known as Etisalat). According to sources familiar with the deal, MTN Nigeria…
One year after takeover of DisCos, darkness, liquidity crisis persist
• Stakeholders highlight cash flow, government policies as key challenges for DisCos under AMCON’s control• Kaduna, Benin, two others record…
Union Bank finalises process to delist shares from NGX
Union Bank of Nigeria has announced an increase in the price at which the stakes of minority shareholders would be acquired from N7 per unit to…
Nigeria Can Earn $13.3bn Extra Revenue Yearly from Creation of National Asset Register – Edun
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday, stated that Nigeria could…
Oando Secures $800m Afreximbank Commitment for Agip’s Assets Acquisition
Afreximbank and Oando Plc, one of Nigeria’s leading indigenous energy solutions provider, yesterday, signed an $800 million…
CBN Ways And Means Fuelled Inflation, Weakened Naira – Sanusi
Former governor of the Central Bank of Nigeria, Muhammad Sanusi II, has said the apex bank’s lending to the federal government under…
Lagos-London airfares seen crashing on local carriers’ entry
Airfares on the Lagos-London route are expected to reduce as local carriers prepare to commence operations from Nigeria to the capital…
Old notes to remain legal tender in Nigeria ‘forever’ – CBN
The Central Bank of Nigeria (CBN) has removed the deadline for legal tender status of old N200, N500, and N1000 notes from the initial December 31, 2023, to forever. This is according to a statement on Tuesday…
Diabetes Association of Nigeria calls for 100% increase in Sugar Tax
The Diabetes Association of Nigeria has called for an increase in sugar tax from 10% to 20% citing it as a measure to combat consumption of sugar. This was stated by Dr. Alkali Mohammed the president of the Diabetes…
CBN does not have a magic wand to solve current economic challenges- Cardoso
The Governor of the Central Bank of Nigeria (CBN) has stated the bank does not have a magic wand to solve Nigeria’s current economic challenges. The apex bank’s chief said this in an emailed speech on Tuesday…
Femi Otedola cements position among Africa’s richest as portfolio exceeds $1.2 billion
Renowned Nigerian billionaire businessman and philanthropist Femi…
Nigerians to pay between N300,000 and N600,000 to convert petrol vehicles to CNG – FG
The Federal Government has revealed that the projected price Nigerians will pay to convert their petrol vehicles to enable them to run on Compressed Natural Gas (CNG) is between N300,000 and N600,000. This disclosure…
Naira Scarcity Worsens As Banks Limit Withdrawals, ATMs Run Dry
Naira scarcity is biting harder across the country as banks have limited cash withdrawals, findings by Daily Trust have shown. Residents of Lagos, Abuja, Kano, Katsina, Jigawa and Adamawa and in other parts of the…
More bakeries shut down over high cost of flour, other ingredients as owners struggle with inflation
The staple and beloved item in many Nigerian households, bread, is becoming a luxury as rising costs of ingredients force bakery owners to increase prices or shut down their businesses. The surge in the prices of…
Thai Miss Universe Pageant owner broke one year after acquisition
JKN Global Group, the Thai owner of the prestigious Miss Universe pageant, has filed for bankruptcy just a year after acquiring the competition for a substantial $20 million. The company cites a “liquidity problem” as the…
CBN lacks the firepower to clear FX backlog says EIU
The Economic Intelligence Unit (EIU), the research and analysis division of the Economist Group, has warned that the Central Bank of Nigeria (CBN) does not have the required firepower to clear the backlog of foreign…
NNPC failing to meet equity payment for Dangote refinery
State-owned Nigerian National Petroleum Company Limited (NNPC) has become desperate in the quest to supply Dangote refinery crude oil worth $1 billion, which is part of its payment obligation for the acquisition of 20…
Nigeria spends around $1.7 billion yearly on milk imports – MACBAN
The National President of the Miyetti Allah Cattle Breeders Association of Nigeria, (MACBAN) Baba Ngelzarma has said that Nigeria spends around $1.7 billion yearly in importing milk into the country. He disclosed this…