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UBA’s Earnings Grow N608bn, As Profit Rises 12.3% In 9-Months
United Bank for Africa (UBA)…
Union warns new owners of Polaris Bank against staff retrenchment
The National Union of Banks, Insurance and Financial Institutions Employees (NUBIFIE) has urged the new owners of Polaris Bank to ensure that the jobs of the existing staff are secured. The…
Nigeria’s rice import falls by 98.4% to 15 metric tonnes in 7 months
Nigeria’s rice imports from the Thai Rice Exporters Association (TREA), one of the largest rice exporters in the world, fell by 98.4% to 15 metric tonnes between January and July 2022, as…
Telecommunications has contributed $70b to Nigeria’s economy- Danbatta
Technology-driven telecommunications industry, according to Executive Vice Chairman (EVC) of Nigeria Communications Commission (NCC), Prof. Umar Danbatta, has contributed $70 billion to the nation’s…
DMO to add N20 trillion ‘Ways and Means’ loans to public debt stock
The Debt Management Office (DMO), says it will add the Central Bank of Nigeria (CBN)’s N20 trillion “Ways and Means’’ loans to the Federal Government’s total debt stock. The…
Dangote asks FG to jail sellers of prohibited foreign textiles
Aliko Dangote, president and chief executive officer (CEO), Dangote Group, has called for a law that will ensure all dealers of prohibited foreign textile materials are jailed with no…
Twitter to lay off nearly three-quarters of staff
Massive layoffs appear to be on the horizon at Twitter, especially if billionaire Elon Musk completes his $44 billion purchase of the company, the Washington Post reported on Thursday. While…
NCC to issue two more 5G licences at $273.6m each
The Nigerian Communications Commission (NCC) says it is offering two slots in the 3.5 gigahertz (GHz) spectrum band for the deployment of the fifth generation (5G) network in the country.…
Polaris Bank announces new board, appoints Adekunle Sonola as CEO
Polaris Bank says it has constituted a new board and management team. The bank made the announcement in a statement on Friday. This comes a day after the Central Bank of Nigeria (CBN)…
We’ve lost our most-valued crude oil customers – FG
Nigeria has lost its most valued crude oil customers, while some of its gas buyers now compete with the country in the same market, the Federal Government declared on Thursday. It also…
BREAKING: CBN announces completion of sale of Polaris Bank, names new core investor
The Central Bank of Nigeria has…
Elon Musk says he is ‘obviously overpaying’ in his $44 billion deal to buy Twitter
Tech billionaire Elon Musk, the…
In contravention of CBN Act, FG to repay N20trn ‘Ways and Means’ loan with treasury bills
The federal government says it will repay the N20 trillion debt owed to the Central Bank of Nigeria (CBN) with securities such as treasury bills and bonds issuance. Zainab Ahmed, minister…
African Development Bank and FCMB Sign $50 million Line of Credit Agreement to bolster access to…
The African Development Bank has signed a…
FACT CHECK: Is It True Exchange Rate Isn’t Yardstick For Measuring Basic Cost Of Living?
A trending WhatsApp post claims that depreciation of the naira against the dollar is not as bad as people think, arguing that the currency exchange rate is not a yardstick for the basic cost…
Kogi drags Dangote to court over Obajana ownership
The government of Kogi State has initiated legal action against Dangote Industries Limited, the parent company of Dangote Cement Plc over the ownership of its cement plant in Obajana, a town located…
More Taxes, Revenue Leakage Blocking Will Reduce Nigeria’s Debt Burden – Finance Minister
Minister of Finance, Budget and National Planning, Zainab Ahmed, says the best measures to reduce the nation’s high debt burden are collection of more taxes, and effective blocking of revenue…
President Buhari signs Nigeria Startup Bill into law
President Muhammadu Buhari earlier today signed the Nigeria Startup Bill (NSB) into law. The Minister of…
Hike in airfares inevitable, experts say
Despite the Central Bank of Nigeria’s move to disburse $265m in trapped funds belonging foreign airlines, the carriers have shut down their global distribution services in Nigeria. Based on…
Buhari commissions first off-shore petroleum terminal in Lekki
Nigeria’s first off-shore petroleum products terminal would be commissioned this weekend by President Muhammadu Buhari. Located in the Lekki Free Zone, the terminal, owned by Pinnacle…