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OPEC Hinges Attainment of Global 6.9mbpd Refining Capacity Addition on Dangote Refinery
Dangote’s 650,000 barrels-per-day (bpd) oil refinery project has been identified as one of the oil distillation companies that would boost global refining capacity by 6.9…
Jack Ma’s Costliest Business Lesson: China Has Only One Leader
Brainy and ambitious, Jack Ma built one of China’s largest business empires from scratch, creating billions of dollars in wealth and introducing digital innovations to hundreds…
CBN postpones planned unveiling of eNaira
The Central Bank of Nigeria says it has postponed the unveiling of the country’s first digital currency, eNaira, citing key activities lined up for Nigeria’s independence anniversary.…
Andela raises $200 million, becomes Nigeria’s latest unicorn
Andela, a Nigerian startup that connects African software engineering talent to global companies, has become the country’s newest startup to attain the unicorn status after raising $200…
Close Domiciliary Accounts For 12 Months To Save Naira – Obanikoro tells CBN
A House of Representatives member, Ibrahim Obanikoro, representing Eti-Osa Federal Constituency, Lagos State, has called on the Central Bank of Nigeria (CBN) to close all domiciliary accounts for…
BCAN Backs Banks, CBN in Publishing Forex Defaulters’ Names
The Bank Customers Association of Nigeria (BCAN) have lauded the Central Bank of Nigeria (CBN) foreign exchange policy and deposit money banks decision to publish the names of violators…
PIA: CAC Incorporates NNPC Limited
The Corporate Affairs Commission (CAC) Wednesday said it had completed the incorporation of Nigerian National Petroleum Company (NNPC) Limited in accordance with provisions of the…
Senate asks international oil companies to relocate headquarters to Niger Delta
The senate has asked international oil companies (IOCs) operating in the Niger Delta region to relocate their headquarters to their states of operation. The upper…
Sustainability week: Dangote donates to old age home, physically challenged children
As part of activities marking the 2021 Global Sustainability Week, employees of the pan-African of Dangote Group, have donated food items and other hygiene products to the old age and…
Court declares CBN lodgement, withdrawal levies discriminatory, unreasonable
A Federal High Court sitting in Awka, Anambra State, and presided over by Justice N.O. Dimgba, has ruled as discriminatory the cashless policy of the Central Bank of Nigeria on…
E-Naira: Company Sues CBN For Trademark Infringement
A cease and desist notification has been sent to the Central Bank of Nigeria (CBN) concerning the use of the name “eNaira.” This is according to a document seen by…
FCMB Promo: Anambra, Zamfara Produce New Millionaires
It was excitement galore for 358 customers of First City Monument Bank (www.fcmb.com) after winning cash prizes at the fifth draws of the ongoing Millionaire Promo…
Nigeria’s eNaira official platform goes live, records one million hits in days
The official website of the Central Bank of Nigeria’s (CBN) digital currency, the eNaira, has gone live, exactly one week to the planned launch of the initiative. The eNaira is a…
Businesses In Nigeria Must Accept E-naira Payment – CBN Warns
The Central Bank of Nigeria says the e-naira which is set to be launched on October 1, 2021, is a legal tender equal to the value of the naira and thus must be accepted as a…
Oil nears $80 with slim chances for more revenue due to theft
Despite ongoing amnesty and other measures to address crude theft in the Niger-Delta region and over N32 billion paid between January and July on pipeline security and maintenance cost,…
AT A GLANCE: Personal income, capital gains…taxes collected by Lagos state
The Lagos state government has joined the suit challenging the collection of value-added tax by the Federal Inland Revenue Service (FIRS). Before this, the state established…
FX defaulters: Customers threaten banks over names publication
Increasing litigations are likely to increase as banks have commenced the publication of names, account number and Bank Verification Number (BVN) of customers for defaulting in foreign exchange (FX)…
Investments That Will Stand The Test Of Time – Stanbic IBTC Chief Executive
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, has urged Nigerians to patronise investment offerings that will stand the test of time. It…
Bitcoin plummets as China declares all cryptocurrency transactions illegal
The Chinese government has intensified its crackdown on cryptocurrencies by declaring that all crypto-related transactions are “illegal”. On Friday, Bitcoin fell by 5.49…
UBA publishes names, account details of forex defaulters
The United Bank of Africa has published the names of some individuals who applied for Personal Travel Allowance and bought cheap dollars at the bank but did not use it for the purpose…
Continue VAT Collection in all States – Finance Minister Directs FIRS
The Minister of Finance, Budget and National Planning, Zainab Ahmed has directed the Federal Inland Revenue Service (FIRS) to continue the collection of value added tax (VAT) and advised…
Oil Price Nears Three-year High, Trades at $78.09 a Barrel
A bit of good news came in for the Dollar-strapped Nigerian economy yesterday with the price of Brent crude rising to three-year high amid supply constraints and a drop in…
Nigeria’s Agric Export Surges To Highest On Record, Here Are The Top Items
Nigeria exported agro-food items worth N165.27 billion in the second quarter of 2021, representing a 112% increase compared to N78.03 billion recorded in the corresponding…
Dangote’s Wealth Rises By $104m, As Musk Remains World’s Richest Man
Chairman of Dangote Group, an industrial conglomerate and the wealthiest person in Africa, Aliko Dangote’s wealth has increased by $104 million, culminating in a net worth of…