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Business
Why Are Central Banks Raising Interest Rates?
As a businessman in Nigeria, you are most likely not pleased with the interest rate hike. Despite the dwindling economy, the interest rates keep growing, making it more difficult to access and repay loans.…
APPLY: Amazon seeks ‘qualified’ candidates for positions based in Nigeria
Amazon, an American e-commerce company, says it is looking to recruit qualified persons for seven positions based in Lagos, Nigeria. The e-commerce platform is set to launch operations in Nigeria by…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and the Standard Alliance…
Unclaimed dividends hit whopping N180 billion
Unclaimed dividends by Nigerian stockholders reached N180 billion last December, according to Alhaji Lamido Yuguda, the Director-General, Security and Exchange Commission (SEC). He told newsmen the commission is…
Marginal fields: NUPRC awards licences to 161 companies, rakes N200bn, $7m
The Nigerian Upstream Petroleum Regulatory (NUPRC) says the 2020 marginal field bid round exercise generated about N200 billion as well as $7 million in revenue for the federal government (FG). Gbenga…
Sterling Bank staff disappears with customers’ N300 million, police wade in
Favour Fame-Eruagbere, a staff of Sterling Bank Plc, Effurun, Delta State Branch, is currently on the…
BDCs eye $20b Diaspora market for forex inflows
Bureaux de Change (BDC) operators are seeking stake in the $20 billion yearly diaspora remittances that constitute a large part of dollar inflows to the economy, President, Association of Bureaux De Change…
MultiChoice reports N196.3 billion in subscription revenue from Nigeria
Despite high inflation, fuel shortages and frequent electricity blackouts in Nigeria, South African-based pay-TV operator…
Leonardo Del Vecchio, the Italian billionaire founder of Ray ban dies at age 87
The Billionaire founder of Luxottica an eyewear giant company which owns billion-dollar…
Russia set to default on bond payments
Russia looks set for its first sovereign default in decades as some bondholders said they had not received overdue interest on Monday following the expiry of a key payment deadline a day earlier. Russia has…
Alleged N23bn fraud rocks MTN’s MoMo PSB, one month after launch
Momo Payment Service Bank Limited (MPSBL), the banking subsidiary of MTN…
42 per cent of billionaires under 30 are in U.S – Report
A new report has revealed that 42 per cent of billionaires under the age of 30 are domiciled in the United States. Released by MoneyTransfer on Friday, the report said that the U.S. accounts for five of the 12…
Petrol subsidy payments climbed to N1.27trn in five months
For the fifth time in 2022, the Nigerian National Petroleum Company (NNPC) Limited…
Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop
The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks…
Fuel Crisis: NNPC Threatens To Blacklist Depot Owners
The Nigerian National Petroleum Corporation (NNPC) has threatened sanctions against private depot owners found selling fuel above the governmentapproved ex-depot price of N148.17 per litre. Fuel queues resurfaced…
Saraki set for showdown with terminal operators over container deposit
THE Minister of State for Transportation, Senator Gbemisola Saraki, has frowned at the high cost of doing business at the nation’s seaports, vowing to reverse the trend. Speaking during an interactive meeting…
Nigerian govt begins implementation of sugar tax
Nigerian Government has started the implementation of the N10 taxation per litre of Sugar-Sweetened Beverages (SSBs) to reduce the incidences of Non-communicable Diseases. Mr Dennis Ituma, Chief…
Nigeria To Rollout 5G Spectrum By August
The Nigerian Communications Commission (NCC) has said it will roll out the Fifth Generation (5G) technology in August. The Executive Vice Chairman, NCC, Prof. Umar Danbatta, said this at the 90th Edition…
Drinksdirect.ng and Cane Integrated Investment Ltd on Empowering Women And Young Adults In…
Have you been wondering how to kickstart your business journey and you’re unable to raise capital? Do you own or have…
Nigeria’s revenue from train services increased by 199% to N6.1bn in one year – NBS
The Nigerian Railway Corporation (NRC) says it generated N6.08 billion…
Polaris Bank obeys court order, pays customer N500,000 for failed POS transaction
Polaris Bank on Wednesday paid N500,000 as damages to a customer in Akwa Ibom State who had complained that the bank…
Reps want gamers to link sports betting accounts with NIN
The House of Representatives has urged the Federal Government to ensure that online betting customers link their accounts with their National Identity Numbers. The House directed the National Lottery Regulatory…
Safe driving: FRSC commissions Dangote truck driving school
…Dangote also trains block makers in Kano, Katsina to prevent building collapse Leading Cement manufacturer, Dangote Cement…
Telcos shake off SIM-NIN losses, recover 16million subscribers
The telecommunication industry is beginning to shake off the effect of the National Identification Number and Subscriber Identity Module policy as it recovers 16.94 million active subscribers within 11 months,…