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Business
FG Warns FCMGs, Others Over Arbitrary Price Increase
The Federal Competition and Consumer Protection Commission (FCCPC) has warned local…
Containers clearing cost jumps by 67%, vehicle parts’ prices soar
Freight charges in the nation’s seaports have jumped by 67 per cent, resulting in increases in prices of vehicle spare parts, The PUNCHlearnt. In separate interviews with our correspondent in Lagos, freight…
SEC issues new regulations on issuance, exchange of cryptocurrencies in Nigeria
The Securities and Exchange Commission (SEC) has released a set of new regulations guiding the issuance, exchange and custody…
First Bank urges court to wind up Niger Insurance Plc
First Bank of Nigeria has urged a Federal High Court in Lagos to wind up Niger Insurance Plc, based on its inability to pay a debt of N137.2 million. In a petition filed by a Lagos lawyer Onyeka Ofoegbu, First Bank…
Elon Musk Says Twitter Deal Temporarily on Hold
Elon Musk’s Twitter deal is “temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less…
Ahead Of APC, PDP Primaries: Naira Crashes Further As Aspirants Mop Up Dollars
Ahead of the primaries of the two leading political parties, the All Progressives Congress (APC) and Peoples Democratic Party (PDP), aspirants are mopping up dollars across the country, leading to the…
MTN Nigeria raises N127 billion short-term capital
MTN Nigeria Communications (MTN Nigeria) Plc has raised N127 billion new debt capital, placing the telecoms group in better position to diversify its capital funding. MTN Nigeria yesterday listed two commercial…
Led by Nigerian billionaire Abdul Samad Rabiu, BUA Foods acquires the first of two shipping vessels…
•The new vessel, named MV Bundu, will depart and berth at BUA’s port and terminal. •A second shipping vessel is expected to arrive by the end of the…
Outrage as three Benue youths allegedly defraud agric investors of N900m
ADEBAYO FOLORUNSHO-FRANCIS writes on operators of an agricultural investment scheme, Denkol Farms, in Benue State, who allegedly swindled unsuspecting investors who waited in vain for the refund of their…
Amcon Takes Over Segun Adewale ‘Aeroland’ Assets Over N1.8b Polaris Bank Debt.
THE Asset Management Corporation of Nigeria said it had taken over assets belonging to Aeroland Travels Limited, and its…
Dollar batters Naira again at Exporters window
The Naira on Monday depreciated at the Investors and Exporters window, exchanging at N419 to the dollar, a 0.48 per cent depreciation, weaker than N417 it traded on Friday. The open indicative rate closed at…
King of Thieves highest grossing movie for April
The King of Thieves, a 2022 Nigerian thriller film produced by Femi Adebayo and directed by Tope Adebayo and Adebayo Tijani, is the highest grossing film for the month of April. The movie stars Odunlade Adekola, …
FIRS, NIPOST Face-Off: CBN Takes Over Electronic Stamp Duty Collection
The Central Bank of Nigeria (CBN) has begun the collection of electronic stamp duty due to the rift between the Federal Inland Revenue Service (FIRS) and Nigeria Postal Service (NIPOST). President-General of the Senior Staff…
NCC Rejects Telecoms Operators’ Request for Tariff Increase
The Nigerian Communications Commission (NCC) has rejected the request by telecom operators for an upward review of tariff, saying that any such decision must be fair to the subscribers and engender healthy…
Nigeria Has 8th Cheapest Petrol In The World – Report
Despite importing refined petroleum products due to the failure of its moribund refineries, which have gulped over N4.15trillion in maintenance since 2015, oil-rich Nigeria has the eight cheapest petrol in the…
Dangote teaches Elon Musk, Gate others lesson as he makes over N11.4bn in hours
Aliko Dangote's wealth is really having an amazing 2022, after jumping 48 places in four months to sit as the 68th wealthiest billionaire alive. According to Bloomberg,…
BREAKING: Todd Boehly-led consortium acquires Chelsea for £2.5bn
CHELSEA FC has announced that terms have been agreed with a new ownership group to…
Excitement as FCMB Millionaire Promo Goes Digital, Set To Reward 23,000 Customers
More excitement for customers as First City Monument Bank (FCMB) announced Season 8 of its widely famous and successful…
Binance commits $500m to finance Musk’s Twitter takeover
Binance, the world’s largest cryptocurrency exchange, is participating in Elon Musk’s $44 billion acquisition of Twitter, according to data filed with the United States Securities and Exchange Commission. Elon Musk…
‘It’s becoming drug trafficking hub’ — CBN warns banks on transactions related to Benin Republic
The Central Bank of Nigeria (CBN) has directed banks to implement enhanced measures on existing accounts and transactions related to the Benin Republic. The apex bank said this in a circular dated April 11 and signed…
Femi Adebayo’s ‘king of thieves’ generates N224m in 4 weeks
Femi Adebayo will definitely smile at the bank in 2022. His new epic movie, titled ‘King of Thieves’ known as Agesinkole, has now generated over N224 million in its first four weeks of premiere at the cinema.…
US raises interest rates by 50 points — the biggest hike in two decades
The United States Federal Reserve (Fed) has raised its interest rate by 50 basic points — the biggest hike since 2000 — in an effort to curb…
EU mulls ban of Russian oil, refined products
European Union countries will stop importing Russian oil and refined products, the head of the bloc’s executive European Commission Ursula von der Leyen said on Wednesday. “We will phase out Russian supply of crude…
Q1: Dangote Cement ramps-up production at Okpella plant
………….as earnings per share hit ₦6.18 Africa’s biggest cement manufacturer, Dangote Cement, has ramped up production…