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System failure cost nation’s economy about N640m in 2 days
Nigeria’s economy may have recorded about N640 million loss to the breakdown of the information technology system used by the Nigeria Customs Service, NCS, for cargo clearance at the ports. The platform used by the…
Ukraine: Prices surge toward $120 per barrel on OPEC decisions
The prices of many crudes, yesterday, surged toward $120 per barrel on the decisions of the Organisation of Petroleum Exporting Countries, OPEC. This came as many buyers decided to shun Russian crudes, amid concerns…
Pencom approves acquisition of pension operators by GTCO, FCMB
The National Pension Commission on Wednesday announced the approval of the request for the merger and acquisition of some operators in the pension industry. The Commission said it approved the acquisition of Investment…
Fidelity Bank to Celebrate Women, launches new Proposition at International Women’s Day event
To commemorate International Women's Day 2022, foremost financial institution, Fidelity Bank Plc, has announced plans to celebrate leading women…
Visa, Mastercard block Russian financial institutions
US. payment card firms Visa Inc and Mastercard Inc have blocked multiple Russian financial institutions from their network, complying with government sanctions imposed over Moscow’s invasion of Ukraine. Visa said on…
Dangote Cement’s commitment to climate change yields dividend
… Proposes dividend of ₦20.00 per share Dangote Cement’s commitment to environmental disclosures and sustainability is yielding…
BREAKING: Maersk suspends all container shipping to/from Russia
Maersk, the world’s largest container shipping line, says it will suspend deliveries to and from Russia owing to the sanctions imposed against the country after its invasion of Ukraine. The company announced this in…
Airbnb to provide free housing for 100,000 Ukrainian refugees
Airbnb, a home rental company, says it is offering free short-term housing to 100,000 Ukrainian refugees fleeing the Russian invasion of their country. The Russian invasion of Ukraine entered Day 5 today with no signs…
Halima Dangote appointed non-executive director of Dangote Cement
Dangote Cement Plc has appointed Halima Aliko Dangote as a non-executive director. Edward Imoedemhe, deputy company secretary of Dangote Cement, said this in a statement issued on Monday. Imoedemhe said the…
MTN Emerges First African Company To Make Metaverse Investment
MTN Group Monday announced that it has bought a digital land in a South African originated Metaverse, Africarare. The Group, owner of its…
Nigeria’s ₦993.38 Billion Imports From Russia At Risk Over War
The value of Russia’s imports to Nigeria over 12 months period is estimated at N993.38bn, data from the National Bureau of Statistics have shown.…
Customs To Engage Stakeholders On VIN Valuation
Nigeria Customs Service (NCS) has decided to engage stakeholders over the introduced Vehicle Identity Number (VIN) valuation at the seaports. The…
Zenith Bank Records N244.5bn Profit
Zenith Bank Plc has released its 2021 full-year audited financial statement reporting a profit after tax of N244.5 billion, the highest on record, reflecting a 6.07%…
Distributors, competitors responsible for high cement prices – BUA Group
Abdul Samad Rabiu, chairman of BUA Group, says middlemen and other manufacturers of cement are responsible for the high cost of the product in the country. Rabiu…
Gazprom, Rosneft Shares Tumble, but the Energy Giants Are Putin’s Safety Net
Russia’s monetary system was below siege Monday, however the nation continues to be pumping and exporting huge quantities of oil and pure gasoline to the remainder of…
Buhari, El-Rufai, KADCCIMA extol Dangote at Trade Fair
Encouraged by his huge investments and philanthropic activities in the country, President Muhammadu Buhari and his host, the Governor of Kaduna…
Nigerians To Pay More For Bread As Russian-Ukraine War Rages
The price of bread, one of the most commonly eaten staples in most Nigerian homes is set to rise if the current Russian-Ukrainian war persists. Russia is the world’s largest exporter of wheat, accounting for more…
How Importers Grounded Ports Over New Customs Vehicle Duty Platform
Members of the Port City of Apapa woke up on Monday to witness a disruption of commercial activities at the Tin-Can Island Port, Lagos. The sudden halt of commercial…
Consensus builds up on kicking Russia out of SWIFT
Canada, the United States, Britain and the European Union on Friday said they could act to exclude Russia from the SWIFT global interbank payments system in a further round of sanctions aimed at halting Russia’s invasion of…
Catch all the amazing highlights from Fidelity Bank’s The Euphoria Event
With spell binding musical performances from Johnny Drille, Chike and Fave as well as interesting games, The Euphoria lived up to its billing as a major A-class event…
BREAKING: Seplat strikes deal to acquire Exxon Mobil’s Nigerian unit
Seplat Energy entered into a contract with a Nigerian unit of Texas-based supermajor Exxon Mobil, Mobil Producing Nigeria Unlimited (MPNU), with a view to…
NCC confirms MTN, Mafab’s payment of $273.6m each for 5G licences
The Nigerian Communications Commission (NCC) says MTN Nigeria and Mafab Communications Limited have made their full payment of $273.6 million each for the fifth generation (5G) spectrum licence. In December 2021, after 11…
EFCC grills Sterling Bank CEO, Abubakar Suleiman, over N20bn ‘Kogi fund’
The Economic and Financial Crimes Commission, EFCC, has grilled Abubakar Suleiman, the chief executive officer of Sterling Bank Plc and two other top…
TotalEnergies stumbles on huge oil offshore Namibia
Operator TotalEnergies has made a significant discovery of light oil and associated gas off the coast of Namibia, the company said on Thursday. The large discovery was made in the Venus-X1 well, the second recent…