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Business
After ‘selling’ Diamond Bank to Access Bank, Uzoma Dozie is still counting money
Uzoma Dozie, the scion of Paschal Dozie, founder of Diamond Bank and erstwhile chairman of MTN, may have been vilified by a lot of people for selling out or rather squandering…
BUA Cement Builds N66bn Profit On Growing Revenue, Slowing Cost
BUA Cement Plc maintained a solid track record on earnings in the third quarter with growing sales revenue and moderated cost leading to an after-tax profit of nearly N66 billion at the end of the…
‘Democratising shares’ — how another first from MTN could change the stock market
In 2019, MTN Nigeria became the first of the big telecommunication players to list on the Nigerian Stock Exchange, setting the bar high for others planning to go public. Since listing in…
Increase taxes on alcohol, cigarette – World Bank tells FG
The World Bank has called on the Federal Government to impose special taxes on alcohol, cigarettes and sugar-sweetened beverages to improve primary healthcare. The World Bank Country…
5G: NCC holds mock auction of 3.5 GHz spectrum
The Nigerian Communications Commission (NCC) has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the country. The simulated…
‘It’s totally unjust’ — UAE writes Hadi Sirika, seeks review of Emirates’ flight frequency
The United Arab Emirates (UAE) says the Nigerian Civil Aviation Authority’s (NCAA) action to limit Emirates’ flights to once weekly is unjustifiable. The letter dated December 10 was…
Why Funke Opeke Got $320 Million Acquisition Offer from U.S-based Equinix
The most attractive sauce for the key businesses across the world, today, is intellectual capital. Second, the swift catalyst for most investors in the vast and expanding markets and…
uLesson raises $15m to expand team and improve education services
uLesson, African edutech startup, has secured a $15 million Series-B investment from global investors to expand team. Sim Shagaya, chief executive officer, ULesson, on Thursday in…
#FCMBFlexxtern Season Five Winners Rewarded with Employment Opportunities
First City Monument Bank (FCMB) has offered a three-month paid internship to 30 winners in the fifth edition of the bank’s internship programme, tagged #FCMBFlexxtern5. These winners…
THE INSIDER: Otedola acquires additional 2.5% stake in FBN Holdings — and now single largest…
Femi Otedola, billionaire businessman, has acquired an additional 2.5 percent in FBN Holdings Plc, becoming the single largest shareholder in the company, TheCable understands. FBN…
From Jan 1, Nigerians will pay 7.5% VAT on Facebook ads
Facebook says Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements from January 1, 2022. The social media giant said this in a statement issued on Thursday.…
Finance Bill: Soon, You May No Longer Operate Your Bank Account Without TIN
The Finance Bill 2021, which is currently being considered by the senate, has made it mandatory for banks to demand the Tax Identification Numbers from their customers. The Senate,…
Nembe oil spill: We’ve finally put out the wellhead leak, says Aiteo
Aiteo, operator of oil mining lease (OML) 29, says it has finally put out the leak on its Santa Barbara wellhead in Nembe, Bayelsa state. The wellhead is a joint venture between Aiteo…
Dangote’s wealth rises, now richer than over 30 countries in Africa
Africa’s richest man, Aliko Dangote’s worth has risen by N8.4 trillion due to recent demands for his cement unit, Dangote Cement and the recently completed fertilizer plant. According to a…
Riders to pay more as Bolt introduces 3% booking fee
Riders seeking e-hailing services will have to pay more on all rides as Bolt introduced an additional 3 percent booking fee. In a service update sent to customers on…
Cryptocurrency: India To Ban Private Wallets, Fine And Jail Violators
On Tuesday, BloombergQuint (Bloomberg India) reported that the penalty for non-compliance with the Indian government's crypto policies could range from a maximum fine of 20 crore rupees…
Funke Opeke’s MainOne to be acquired for $320mn by US giant Equinix
MainOne, a West African data centre and connectivity solutions provider with a presence in Nigeria, Ghana, and Côte d’Ivoire is set to be acquired for $320 million by American multinational Equinix Inc.,…
Donald Trump Raises £1bn For His New Social Media Platform To Rival Twitter
The former US president, who is banned from Twitter, Facebook and YouTube, hopes to launch his Truth Social app next year. He claims it will provide a forum that will not restrict…
NANS hails CBN Governor over entrepreneurship scheme
NIGERIA Students under the aegis of the National Association of Nigerian Students, NANS has hailed the Governor of Central Bank of Nigeria, CBN, Godwin Emefiele over what they described…
Dangote Refinery Awards Scholarship to Students in Host Communities
As part of its Corporate Social Responsibility programmes, Dangote Oil Refining Company has awarded scholarships to 137 tertiary institutions and secondary school students from its host communities in Ibeju…
BREAKING: Ecobank Nigeria appoints Lawal, MD designate as Akinwuntan retires
Ecobank Group, has announced the appointment of Jubril Mobolaji Lawal, as the regional executive and managing director designate of Ecobank Nigeria, subject to the approval of the Central Bank…
Cement Price Skyrockets As Coys Declare Record Profits
Despite the surge in the profits of cement manufacturers in the country, the end price of the commodity has continued an upward surge in the last 18 months. This is in spite of…
PFAs Reduce T-Bills Holdings, Pump Funds into Banks, Stocks
Pension Fund Administrators (PFAs) reduced their investment position in Treasury bills as they move funds into banks placement and equity market, according to the latest report from the…
Who Is Bitcoin Creator Satoshi Nakamoto? What We Know—and Don’t Know
Thirteen years ago a person or group using the name Satoshi Nakamoto released a paper describing a new software system called bitcoin. Today bitcoin is worth more than $1 trillion and has sparked…