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Business
US grants tax-exempt status to Kemi Adeosun’s foundation
The United States Government has granted tax-exempt status to Dash Me Foundation (US), a non-profit, under Section 501(c)(3) of the US Internal Revenue Code. This was announced by founder of the foundation, and…
GTCO Launches Squad, Next Generation Payment Solution For African Merchants
When it comes to internet penetration and adoption of mobile payments, most African countries are still very much below the global average. Even…
Elon Musk orders Tesla staff stop working from home
Tesla CEO Elon Musk has asked employees to return to the office or leave the company, according to an email sent to employees on Tuesday night. “Everyone at Tesla is required to spend a minimum of 40 hours in the…
U.S. firm buys AC Milan
U.S. investment firm RedBird Capital Partners has agreed a 1.2 billion euro ($1.3 billion) deal to buy Italian soccer champions AC Milan. The new owners have set the agenda: AC Milan must challenge the elite of…
FCMB, PressPayNg funding platform targets 1.5m undergraduates in 3 years
First City Monument Bank (FCMB) has partnered with PressPayNg to develop a digital platform for young Nigerians to fund their…
MTN Market Cap Drops N142.5bn In Single-Day Trade On NGX
The market Capitalization of MTN Nigeria Communications Plc declined by N142.5 billion, representing a 2.95 per cent…
Nigeria’s crude oil production increases by 70,000bpd – Reuters Survey
Nigeria’s crude oil production increased by 70,000 barrels per day in May according to a Reuters Survey released on Tuesday. The document, which was obtained by the News Agency of Nigeria (NAN) in Lagos,…
Lekki Port Purchases 3 STS Cranes, Other Operational Equipment
Lekki Port LFTZ Enterprise Limited (Lekki Port) is to take delivery of three new-generation Ship to Shore (STS)…
Oil price nears $125 a barrel amid EU ban on 90% Russian oil imports
Oil prices rose on Tuesday after the European Commission (EU) countries agreed to ban 90 percent of Russian oil imports by end of 2022. Brent crude futures, the global oil benchmark, was up by 1.64 percent,…
Customs Rakes In About N2bn From Erring Private Aircraft Owners
The Nigerian Customs Service, said it has so far generated about N2 billion from the revalidation of documents of private aircraft across the country. The service had in June 2021 threatened to detain private…
Dangote Refinery to Expose Nigeria’s Downstream, Midstream Sectors to Int’l Markets
The coming on stream of the 650,000 barrels-per-day Dangote Petroleum Refinery will guarantee availability of high quality…
U.S. SEC queries Elon Musk over Twitter shares
The U.S. Securities and Exchange Commission (SEC) is looking into Tesla Chief Executive Officer Elon Musk’s disclosure of his stake in Twitter Inc in early April, according to a letter the agency sent to him that…
Nigeria has approved Starlink internet service, says Elon Musk
Elon Musk, SpaceX founder, says Starlink, the company’s satellite internet service, has been approved in Nigeria.…
Otedola becomes First Bank’s only above 5% shareholder, Hassan-Odukale drops out
First Bank of Nigeria Holdings (FBN) has clarified its 5% and above shareholders following the faceoff between Femi Otedola and Tunde…
Uber hits a billion trip milestone in Africa
Uber yesterday said it hit one billion trips in Africa since entering the market less than 10 years ago. The trips amounted to over 10 billion kilometres of trips, which is equivalent to travelling to the moon…
Glencore to pay $1bn settlement to US authorities after admitting bribery in Nigeria, DRC
Glencore, a mining and commodities trading firm, has agreed to pay over $1.1 billion as a settlement for various contract manipulations, including paying bribes to several African countries to secure crude oil…
Twitter shareholders sue Elon Musk
Billionaire Elon Musk has been sued by Twitter Inc investors claiming he manipulated the company’s stock price downward. The suit comes as the chief executive of electric carmaker Tesla Inc (TSLA.O) mounts a $44…
FIRS Gets N532.5bn Company Income Tax, 53% Increase In Q1 2022
A total of N532.48 billion from company income tax (CIT) has accrued to the Federal Inland Revenue Service (FIRS) in the first quarter…
Is Dangote Truly Broke?
The Nigeria media space has been abashed with the story of the richest man in Africa, Mr Aliko Dangote being broke and needing a... The Nigeria media space has been abashed with the story of the richest man in…
‘Leaders Must Subject Themselves to Corporate Governance’ – Sola David Borha
The Chairperson, Stanbic IBTC Bank Plc, Ms. Sola David Borha has urged women across boards to embrace corporate governance and subject themselves to their organisation’s policies in other to rise above bias in today’s…
FG imposes tax on phone calls to finance healthcare fund
The federal government has introduced a new telecommunications tax to provide finance to subsidise the cost of provision of…
INDUSTRIAL GROWTH: DANGOTE TASKS STATES ON INVESTMENTS ENABLERS
President of the Dangote Group, Aliko Dangote has challenged state governments to consider as topmost priority, the…
No Plan to Withdraw Naira Notes from Circulation – CBN Clarifies
The Central Bank of Nigeria (CBN) yesterday debunked reports that it planned to replace the conventional Naira notes in circulation with digital currency, otherwise known as the eNaira, in due course. This is…
Mercedes-Benz 300 SLR Coupe becomes world’s most expensive car
Mercedes-Benz 300 SLR Coupe, dubbed “the Mona Lisa of cars” has become the most expensive automobile ever sold in an invitation-only auction. The car, which was never produced for commercial use, sold for €135 million…