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Why naira scarcity won’t end soon
As Nigerians grapple with the multidimensional hardship in daily lives occasioned by the persistent Naira scarcity,…
Why bank transfers buckled under naira scarcity pressure
Peter Opara, a 48-year Uber driver in Lagos, had to raise his voice when he saw the red figures on the cashier’s…
Moruf Oseni takes over as MD/CEO of Wema Bank
Wema Bank Plc has announced Moruf Oseni as the substantive Managing Director and Chief Executive Officer effective April 1,…
Lekki Seaport to generate 170,000 jobs – NPA
The Nigerian Ports Authority (NPA), says the Lekki multi-purpose seaport is expected to generate more than 170,000 direct and indirect jobs for Nigerians when completed. The Lekki Deep Seaport was commissioned for…
Medical park concession: Lagos, consortium signs agreement
The Lagos State Government through the Office of Public Private Partnership,PPP, has executed the Concession Agreement for the development of the Lagos Medical Park, Medi Park. Speaking at the PPP Office on…
Nigeria has generated only 5000 megawatts since I was born — Femi Otedola laments
… As Geregu pumps $250m into power generation expansion project, marks one year on Stock Exchange To say that it is ‘appalling and disheartening’ that Nigeria’s power sector is yet to witness the needed…
Oando to become private firm as core investor offers buyout of minority shareholders
Oando Plc says it has received an offer from Ocean and Oil Development Partners Limited(OODP), an investment company, to acquire the shares of all minority shareholders. In a statement on Thursday, signed by Ayotola…
NDIC assures Nigerians of safety of bank deposits
The Nigeria Deposit Insurance Corporation (NDIC) on Thursday in Enugu assured depositors of the safety of their money against unusual bank…
What to expect as petrol subsidy removal nears
As the date for the removal of the controversial petrol subsidy draws closer, Nigerians are…
World Bank announces Ajay Banga as sole President-nominee
The World Bank Group’s Board of Executive Directors announced that Ajay Banga, a US national, was the sole nominee for the position of the bank’s next President. This is contained in a statement issued by the…
Parallex Bank Gets Afreximbank’s $10m Facility For SMEs
Parallex Bank Ltd has secured a $10 million trade finance facility from the African…
UBA posts N201b profit, declares 90k dividend
United Bank for Africa (UBA) has released its audited financial results for the full year ended December 31, 2022,…
Nigerians’ champagne consumption hits 8-year high
Champagne shipments from France to Africa’s most populous nation have surged to the highest level in eight years, data obtained by…
DANGOTE LISTS N300B SERIES 1 AND 2 LARGEST BONDS ON NGX, FMDQ
Dangote Industries Limited (DIL) has formally listed its N300 billion Series 1 and 2 bonds issued under the Dangote Industries Funding Plc during a…
Nigeria’s total public debt hits N46.25trn
Nigeria’s total public debt stock, consisting of the domestic and external debt stocks of the Federal Government, 36 state governments…
Moribund mills: Paper imports gulp N1.63trn in five years
Despite an abundance of domestic raw materials, Nigeria spent N1.63 trillion on the importation of paper and its allied…
Shell Pays FG over $4.5bn in Royalties, Taxes, Others to Nigeria
Shell Plc has disclosed that it paid Nigeria’s federal government over $4.521 in its overall production…
Abuja residents heave sigh of relief as old Naira notes return
……• Recount losses It was a moment of relief for Abuja residents, following the release of old naira…
Govt, investors to deploy 1,000 mini-grids nationwide
The Federal Government in partnership with private sector investors, on Wednesday, commenced moves to deploy 1,000 mini-grids…
China’s Alibaba Group to split into six
Chinese e-commerce giant Alibaba on Tuesday announced that it would split into six smaller business units. The split will include online trading, media and cloud services, turning the $220 billion company into…
Paystack Founder, Shola Akinlade Buys 55% Stake in Danish Football Club
Shola Akinlade, the 38-year-old co-founder of Nigerian online payment platform Paystack, has added Danish…
Togo beats Nigeria with largest container terminal in W’Africa
Lome Container Terminal (LCT) in Togo is to process 2.2 million Twenty Equivalent Units (TEUs)…
Bankruptcy: Court adjourns Ecobank’s suit against Otudeko till July 4
The Federal High Court sitting in Lagos has fixed July 4 for hearing in the bankruptcy suit filed by Ecobank Nigeria…
Nigeria’s power sector has a lot of problems…. but they are surmountable – Otedola
Femi Otedola, the chairman of Geregu Power, says Nigeria’s electricity sector has several issues, but they are surmountable with leadership and willpower. Otedola spoke on Tuesday at the closing gong ceremony hosted…