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MTN Nigeria to invest over N600 billion in network infrastructure
MTN Nigeria, largest network by market share, says it will invest over N600 billion in network infrastructure over the next three years to improve telecommunications services across the country. Ernest Ndukwe, chairman of…
Nigerians in Diaspora remit $65.34bn in three years
The Nigerian Diaspora population remitted $65.34bn in three years to boost economic activities in the country, data obtained from the World Bank have shown. According to the…
Bitcoin jumps above $50,000 for first time since May
Bitcoin broke back above $50,000 on Monday for the first time in three months as investors piled back into the cryptocurrency on bargain-buying. The unit climbed…
Eight Banks Lose N1.9bn To Fraud In One Year
Eight deposit money banks in Nigeria lost a total of N1.9bn as a result of fraudulent incidents last year, data collated from their annual reports have shown. They are…
Telecoms firms post N2.268tr revenue
All the mobile network operators (MNOs) posted a total revenue of N2.268trillion as at last December as against N2.019trillion recorded in the preceding year, according to the…
Tension in Nigeria LNG over cancellation of cargoes
There is tension in Nigeria Liquefied Natural Gas (NLNG) over deferrals, defaults and cancellation of cargoes despite increasing demand in the international market. Over 20…
NARTO, Dangote Refinery Collaborate on Efficient Products Distribution
Road Transport owners across Nigeria have expressed optimism that the 650,000 barrels-per-day Dangote Petroleum Refinery would deepen the downstream sector and positively…
Oil block row: NNPC warns Shell against another lawsuit
The Nigerian National Petroleum Corporation, on Friday, cautioned against any further legal challenge by Shell Petroleum Development Company over Oil Mining Lease 11, saying it…
Onlyfans To Ban Sexually Explicit Content
The subscription site OnlyFans, known for its adult content, has announced it will block sexually explicit photos and videos from 1 October. People will still be able to post nude…
CBN warns microfinance banks against forex transactions
The Central Bank of Nigeria has warned microfinance banks against performing certain non-permissible activities, including wholesale backing and foreign exchange transactions.…
Messi’s N247bn, Ronaldo’s N206bn Not Enough To Earn Them Top Spot in List of Players…
Six-time Ballon d’Or winner Lionel Messi has emerged the number two player with the highest net worth having amassed staggering wealth to the tune of $600 million (about N247…
CBN asks banks to block accounts of 18 companies
The Central Bank of Nigeria (CBN) has directed banks to place a post-no-debit on the bank accounts of 18 companies. A post-no-debit means that all debit transactions,…
Naira weakens further to 517 against dollar
The naira fell further against the dollar at the parallel market on Wednesday after staying steady at 515/$ in recent days. The local currency fell to 517 against the US…
FCMB Offers N3bn Credit For Waste Mgt In Lagos
First City Monument Bank (FCMB) has offered a N3 billion credit line to the Association of Waste Managers of Nigeria (AWAMN) in Lagos State. According to a statement, the…
Twitter, digital platforms to pay tax as FIRS targets N10.1trn revenue in 2022
The Federal Inland Revenue Service (FIRS) has set a revenue target of N10.1 trillion for 2022. Mohammed Nami, executive chairman of FIRS, disclosed this on Wednesday when he…
‘Crypto trading, illegal forex transactions’ — CBN lists infractions of Risevest, Bamboo
On Tuesday, the federal high court sitting in Abuja granted the request of the Central Bank of Nigeria (CBN) to freeze accounts belonging to some technology trading platforms…
Court freezes bank accounts of forex trading platforms
The Federal High Court Abuja has frozen the bank accounts of some investment and trading platforms that Nigerians have been using to transact online. Justice Ahmed Mohammed…
Banks Pay N80.2bn Taxes To FG In H1
The federal government, in continuation of its aggressive revenue drive, was able to reap N80.2 billion in taxes from banks in the first half of the current year. The taxes…
PIA: NNPC will cease to exist within six months, says Mele Kyari
The federal government says the Nigerian National Petroleum Corporation (NNPC) will cease to exist within the next six months as specified by the Petroleum Industry Act (PIA).…
Toyota Corolla global sales pass 50 million
Toyota has sold its 50 millionth Corolla, cementing its position as the world’s most popular model, the automaker’s Australian unit said. Over 54 years, 1.5m of the 50m have been sold…
FIRS Appeals Court Judgment On VAT
The Federal Inland Revenue Service (FIRS) said it has appealed a recent judgment of the Federal High Court in Port Harcourt, Rivers state, on the issue of Value Added Tax (VAT)…
N791bn disbursed to over 3m farmers under Anchor Borrowers’ Programme – CBN
The Central Bank of Nigeria (CBN) says over three million farmers have benefitted from the N791 billion disbursed under its Anchor Borrowers’ Programme (ABP). Yusuf Yila,…
Nigeria’s inflation will drop to single digit in 2022 – CBN
The Central Bank of Nigeria has said it sees the country’s inflation rate dropping to single digit next year, with the full implementation of its recent policies designed to…
Bitcoin mining difficulty on the rise
After the China ban on mining activities which caused the Bitcoin mining difficulty to decline, new data from BTC.com shows an upward trend in Bitcoin’s mining…