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Business
Global Car Sales Revenues To Plunge By $200bn In 2022
As global inflation and supply chain bottlenecks…
Lagos strikes deal with private firm to manage, operate Imota Rice Mill
Ahead of the commissioning and operation of the 32-metric tons per hour Rice Mill in Imota, Ikorodu, Lagos State Government has handed over the management of the facility to private investor for…
Otedola’s electricity company gets NGX listing
The Nigerian Exchange Limited, on Wednesday, announced the listing by the introduction of Geregu Power Plc, which is chaired by billionaire businessman, Femi Otedola, to the Main Board of The Exchange.…
Fintechs disrupting banking sector, CBN will continue to guide them – Emefiele
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says financial technology (fintech) companies are disrupting the banking sector. Emefiele said this on Tuesday at the…
Mercurial Elon Musk offers to buy Twitter again
Mercurial Elon Musk proposed to buy Twitter again, at the originally agreed-on price of $44 billion. Musk made the surprising turnaround not on Twitter, as has been his custom, but in a letter to…
FCMB Celebrates Happy Customers, Peerless Service and Talents
By ensuring the right blend of technology and people, First City Monument Bank…
Nigeria’s crude oil revenue jumps to N11tn
Nigeria’s crude oil revenue jumped to N11tn in the first six months of 2022, according to the latest data from the National Bureau of Statistics’ Foreign Trade Statistics for the second quarter of…
Celsius founder, Mashinsky withdrew $10m before bankruptcy filing
The embattled founder and former chief executive officer (CEO) of Celsius Network, Alex Mashinsky removed $10 million from the now-bankrupt crypto lender, weeks before the company froze customer accounts…
Mike Adenuga-Backed Sterling Bank Set For Holdco Structure
TIER-2 lender, Sterling Bank, is limbering up for the decisive phase of its evolution into a holding company (Holdco), while also laying out the shape that the future beyond its present…
With $1bn Balance Sheet, Stakeholders Allay Fear On Aviation Insurance
Insurance is a critical component of the aviation industry but it is the least talked about by the operators and stakeholders in the industry. The second CHINET Aviation Cargo Conference held…
NNPC Ltd Acquires 380 Oando Stations, Other Assets Nationwide
The Nigerian National Petroleum Company Limited (NNPCL) has acquired all 380 Oando retail outlets, aviation and gas brands nationwide from OVH Energy. Speaking at the unveiling of…
Govs Reject FG’s Plan To Privatise Power Plants
The Nigerian Governors Forum (NGF) yesterday opposed the Federal Government’s proposal to privatise National Integrated Power Plants (NIPPs). The plants are: Benin Generation Company Ltd,…
Telecom Operators Threaten To Withdraw Services To Banks
Telecommunications Operators have threatened to withdraw their services to banks and other financial institutions in Nigeria due to unpaid debts. According to the Chairman of Association of…
Shell Acquires Nigeria’s Renewable Energy Firm, Daystar Power
Shell has acquired a Nigerian renewable energy group, Daystar Power, for an undisclosed sum, according to Financial Times. The acquisition reportedly marks Shell’s first power sector acquisition…
Inter post 140 million-euro loss in 2021-22 accounts
Inter Milan announced on Wednesday that they had posted a loss of 140 million euros ($133.9 million) for the 2021-22 season, a significant reduction in the wake of the Covid-19 pandemic. The…
Lagos directs tech hubs, co-working spaces to pay N150,000 safety fee
The Governor Babajide Sanwo-Olu-led Lagos State government has directed tech hubs and co-working spaces operating in the state to pay the sum of N150,000 as safety audit fee. According to a memo…
CBN recovers N3.7trn intervention funds
Beneficiaries of various Central Bank of Nigeria (CBN) intervention schemes have re-paid a total of N3.7 trillion out of the N9. 3 trillion disbursed in the last four years. The Director of the…
Mark Zuckerberg drops out of top 10 richest men in US
The chief executive officer (CEO) of Meta (formerly Facebook), Mark Zuckerberg has dropped out of the top ten richest men in the United States according to Forbes. The American business…
Trapped funds: No law mandated CBN to provide dollars to foreign airlines, says Emefiele
The (CBN) says there is no law mandating it to provide dollars to foreign airlines operating in the country. Godwin Emefiele, governor of the apex bank, made this known on Tuesday while…