Browsing Category
Business
India announces bill to ban cryptocurrencies
India’s government will introduce a bill to ban private cryptocurrencies and create a framework for a central bank-backed digital money, parliament said in a shock announcement late…
Railway: 24 Firms Jostle For E-Ticketing Contract
No fewer than 24 companies have bidded for the electronic ticketing solutions for the Lagos-Ibadan and the Warri-Itakpe train services. The Nigeria Railway Corporation (NRC)…
Oando Tops NGX With N11.834bn As Honeywell Flour Jumps 9.73%
Oando Plc on Monday closed the Nigerian Exchange Limited (NGX), topping the market activity with 1.973 billion units of shares worth N11.834 billion. The All-Share Index…
NPA, NIMASA To Charge Importers Of Petrol In Naira – NMDPRA
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has said that Nigerian Ports Authority (NPA) and Nigerian Maritime Administration and Safety Agency (NIMASA)…
Flour Mills Acquires Honeywell Flour In N80bn Deal
Flour Mills of Nigeria Plc (FMN), the food conglomerate and owners of the iconic Golden Penny Food brand, has acquired a 71.69 percent stake in Honeywell Group, In a joint statement issued…
N30k for bag of rice, crate of eggs now N2k… traders grapple with low sales amid rising food prices
The prices of food items continue to soar across major markets in Lagos, as traders complained of low sales amid declining purchasing power. This is according to a market survey…
Dismantle Trade Barriers To Grow Africa’s Economy, Dangote Urges Leaders
African leaders have been urged to dismantle trade barriers stifling their individual countries, in a bid to ensure smooth flow of goods and services, with a corresponding impact on economic…
Kano Beats South East In VAT Collection
Kano State collected more money as Value Added Tax (VAT) than the entire South East zone in the first eight months of 2021, an exclusive data obtained by Daily Trust show. Records of VAT…
Leadway Pensure’s shares in First Bank belong to RSA holders – PenCom
Funds invested in First Bank Holdings Ltd (FBNH) by Leadway Pensure Ltd belong to retirement savings account (RSA) holders, the National Pension Commission (PenCom) has…
NBC seals reported $2.7 billion Premier League US rights deal
The Premier League and US broadcaster NBC agreed on a new six-year rights deal on Thursday worth a reported $2.7 billion, underscoring the English top-flight’s status as the most…
South Africa’s MTN, IHS In $410m Towers Deal
MTN Group Ltd. and IHS Holdings Ltd. agreed to a 6.4-billion-rand ($410 million) tower-deal in South Africa, according to a statement quoted by Bloomberg. The sale-and-lease back…
Oil Exploration: NNPC Gets $1.04 Billion Facility From Afreximbank
The African Export-Import Bank, Afreximbank, has signed a $1.04 billion dollar facility with the Nigerian National Petroleum Corporation, NNPC, to finance oil exploration. A…
Ardova Issues N25.3bn Bonds, Completes Enyo’s Acquisition
Ardova Plc has issued N25.3 billion fixed-rate bonds to fund its expansion project in the downstream petroleum sector of the Nigerian economy The bond which is under its N60 billion…
Nigeria To Receive $17.6bn Inflows –World Bank
The World Bank has estimated that remittance inflows into Nigeria increased to $17.6billion this year from $17.21billion last year. The bank, which stated this in its “Migration and Development…
How Farmers’ Cooperative Is Revamping Moribund Farms
Unlike many farmers’ cooperatives, Dodeka Multipurpose Cooperative (DMC), which has members from different professional backgrounds, is delving into something unique; taking over management of…
Nigeria’s eNaira Attracting Global Attention, Says IMF
The International Monetary Fund (IMF) has revealed that Nigeria’s digital currency, the eNaira has been “drawing substantial interest from the outside world,” since it was unveiled on…
Ibom Airline Orders 10 A220 Airbuses From Dubai
Ibom Airline has ordered for 10 units of A220 airbuses for its fleet at the ongoing Air show in Dubai. The Group Manager Marketing and Communication of the company, Mrs Annie…
$6b Bolt shuns American market, focuses on Nigeria, Africa
America may arguably be the most stabilised economy by many indices, but $6b-valued ride-hailing company, Bolt is not playing in the market and not planning to be there in the near…
FMDQ lists MTN Nigeria’s N110bn bond
FMDQ Securities Exchange Limited has agreed to list MTN Nigeria’s N110 billion series 1 senior unsecured fixed rate bond. Karl Toriola, chief executive officer, MTN Nigeria,…
Three Pharma Firms Rake $93.5m From Covid-19 Daily
Pfizer, BioNTech and Moderna are making combined profits of $93.5million daily from their highly successful Covid-19 vaccines while the world’s poorest countries remain largely…
We disbursed N1trn loans to over 327,000 businesses in five years – BOI
The Bank of Industry (BoI) says it has disbursed N1 trillion worth of loans to over 327,000 micro, small and medium enterprises (MSMEs) and large businesses in the last five…
Two-thirds of global wealth stored in real estate – McKinsey
McKinsey & Company, a management consulting firm, says two-thirds of global net worth is stored in real estate — with only about 20 percent channelled toward other fixed assets. The firm…
Data Breach By Loan Apps: FG To Protect Nigerians
Many people on social media have reacted to the news that the federal government is set to enforce the right of Nigerians following the illegal actions of online loan lenders. According to some…
Nigeria Home To 9,100 Dollar-Millionaires, Worth $207 Billion
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and a combined total wealth of approximately $207 billion, as at…