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Business
CBN Reduces ATM, Interbank Transfer Charges
The Central Bank of Nigeria (CBN) has reduced ATM withdrawal charges, inter-bank transfer fees as it issues a downward review of charges for electronic banking transactions in its revised guidelines to charges by Banks, Other…
SELF EMPLOYMENT: DANGOTE CEMENT EMPOWERS 245 YOUTHS IN HOST COMMUNITIES
…Ogun thumbs up cement company No fewer than 245 youths from Dangote Cement Ibese Plant’s 16 host communities have been trained and empowered till date in different skills since the commencement…
Amazon, AliExpress To Pay 6% Tax From Profits Made From Nigerian Customers
The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or…
Binance restricts 281 Nigerian crypto accounts to ‘prevent fraud’
Binance, one of the largest cryptocurrency exchanges in the world, says it restricted the accounts of 281 Nigerian users to prevent fraudulent activities and ensure the security of its…
Fidelity Bank rewards Customers in GAIM 5 Promo
Ten customers of Fidelity Bank Plc have become N1million richer having received their cash prizes for emerging winners in the January draw of the Bank’s Get Alert in Millions savings promo, season…
Dele Fajemirokun: Nigerian billionaire behind the popular Chicken Republic and AIICO Insurance
If you are one of those entrepreneurs who want “to chill with the big boys”, one name that would likely be on your top 100 Nigerian businessmen list is, Chief Dele Fajemirokun.…
Leonardo DiCaprio sells 1926 tudor-style home at a loss
After five months on the market, Leonardo DiCaprio has found a buyer for his Los Feliz home according to Mansion Global. The actor listed the five-bedroom, eight-bathroom property for $5.75 million in August, but after a…
GSI: Loan recovery feature will now be continuous until debts are fully paid, says CBN
The Central Bank of Nigeria (CBN) has amended the operational guidelines on global standing instruction (GSI). The GSI is a policy that allows banks to debit the accounts of loan holders in other banks to settle defaults. In a…
Airtel Africa surpasses Dangote Cement as most capitalised company on NGX
Airtel Africa, a multinational telecommunications company, has surpassed Dangote Cement to become the most capitalised company listed on the Nigerian Exchange Limited (NGX). For the…
Petroleum Commission Retrieves Marginal Oil Fields’ License From 33 Firms
Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has revoked marginal oil fields awarded to 33 companies for their default on payment of signature bonus with the 45…
Ghana earns $7.33 billion from oil production since 2011
Ghana secured $7.33 billion dollars in revenue since it started commercial oil production in 2011, the 2021 Semi-Annual Report of Petroleum Funds has revealed. Of the earnings, $6.02 billion was obtained from total liftings,…
Reps Ask CBN To Suspend E-Invoice Policy Implementation
The house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the implementation of the recently launched electronic invoice (e-invoice) for all import…
No dollar spent on cement import in seven years —Emefiele
The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said Nigeria has not spent dollars to import cement in the last seven years. A statement from the CBN said he spoke at the inauguration of the new BUA…
CBN Urges Cement Manufactures To Slash Prices
The Central Bank of Nigeria (CBN) has appealed to cement manufacturers to consider reducing the high cost of cement. The CBN Governor, Godwin Emefiele, made the call at the official…
Elon Musk’s Tesla reports $5.5bn profit for 2021
Tesla rode rising demand for electric vehicles to a record $5.5 billion profit in 2021 as it managed through a range of supply chain issues. Elon Musk’s company, which scored an 87 percent jump in auto deliveries last year in…
BREAKING: Oil price hits $90 per barrel for first time since 2014
Oil prices rose on Wednesday to $90 a barrel for the first time since 2014 — amid rising tensions between Russia and Ukraine. Over the past months, oil prices have continued to surge amid increasing demand for the commodity.…
Airlines Crash Ticket Fares After Yuletide, New Year Sales
Airfare across the country has crashed making air travel affordable to middle class after it went beyond their reach during the yuletide season. LEADERSHIP had reported in December…
BUA Chairman, Abdul Samad Rabiu Now Africa’s Fifth Richest Man, Second In Nigeria With Latest Forbes…
The ripples effect of the recent listing of BUA Foods PLC on the Nigerian exchange has continued to be felt internationally as it has reflected in Forbes placement of Nigerian…
Value Of PoS Transactions Hits N18.10trn In Five Years
The value of transactions through Point of Sale (PoS) terminals in the country rose to N18.10trillion between 2017 and 2021, latest data released by the Nigeria Interbank…
Men check Bitcoin price more frequently than women – Study
Gender is associated with both psychological and demographic factors when it comes to crypto investment, new academic research revealed. A new study has shed light on the differences between men and women in different aspects…
Truck owners to drag NPA to court over ‘extortion’
Truck owners under the aegis of the Council of Maritime Transport Unions and Associations (COMTUA) have threatened to sue the acting managing director, Nigerian Ports Authority (NPA), Mohammed Bello-Koko, over alleged…
Standard Chartered Bank’s 50% Branches Closure: Losses, Lessons, Future Of Banking In Nigeria
In a move to expand its digital presence in the face of technology-driven banking options, Standard Chartered Bank announced the closure of 50 per cent of its branches in Nigeria. NCHETACHI CHUKWUAJAH, in this report, examines…
IBEDC: How Boardroom Squabbles Brought Down A High Flier
Although the Asset Management Company of Nigeria (AMCON) cited the indebtedness of Ibadan Electricity Distribution Company’s core investors, Integrated Energy Distribution and Marketing Limited (IEDM), to Polaris Bank as the…
Pay us $3.4bn fine – Niger Delta fishermen tell Shel
Members of the Artisan Fishermen Association of Nigeria, Niger Delta chapter, have urged the Shell Petroleum Development Company to immediately pay them the $3.4bn fine imposed on it by the National Oil Spill Detection and…