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Bernard Arnault overtakes Jeff Bezos to become world’s richest man
French fashion tycoon Bernard Arnault on Monday May 24, 2021 edged ahead of Jeff Bezos to become the world’s richest man as his net worth climbed to $186.3billion. The chief…
TikTok CEO Zhang Yiming resigns
Zhang Yiming, the Chief Executive Officer of TikTok, has resigned with a net worth of $44bn to read books and daydream. According to CelebrityNetWorth, Yiming in…
BUA Cement record N115b bond listed on FMDQ Securities Exchange
FMDQ Securities Exchange Ltd has announced the listing of the BUA Cement Plc N115 billion series 1 fixed rate senior unsecured bond under its N200 billion…
Bitcoin, Ethereum continue to dip as China threatens to clamp down on crypto mining
Bitcoin, the world’s largest cryptocurrency by market capitalisation, fell by 10.62 percent to $35,882 on Friday after Chinese authorities called for a crackdown on crypto mining and trading. In a statement on Friday,…
Kellogg’s Cornflakes Launches in Nigerian Market
Foremost cereal brand, Kellogg Tolaram has expanded its footprint in the Nigerian market with the launch of new Kellogg’s Cornflakes. The newly improved…
Another Month, Another Good Auction for the DMO
The DMO held its monthly auction of FGN bonds on Wednesday. It offered its regular NGN150bn, raised NGN175bn (USD430m) and secured a total bid of NGN282bn. The marginal rates on the ten and 15-year benchmarks…
Lekki deep seaport: Lagos secures $629m facility to finance multi-billion dollar project
The Lagos State Government has announced that it has secured a loan of $629 million to finance the ongoing Lekki Deep Sea Port Enterprise Limited (LPLEL)…
Melinda French Gates net worth $3.3 billion after more Stock transfers from Bill Gates
Melinda French Gates has become $3.3 billion richer after getting more stock from Bill Gates amid their divorce. On Thursday May 13, Bill via his investment vehicle, Cascade Investment, transferred $851 million worth…
Cryptocurrencies crash, Bitcoin falls 28 per cent
Cryptocurrencies are in a free-fall after China banned financial and payment institutions from providing cryptocurrency services. The most popular of…
Nigerian government considers options on Shell divestment plan
The federal government is weighing some options as discussions with Anglo-Dutch oil company, Shell Petroleum Development Company, begin over its plan for total divestment from onshore operations in Nigeria. The…
Elon Musk bumps up Bitcoin again
Bitcoin rallied from three-month low on Monday in the wake of Tesla boss Elon Musk’s latest reassuring tweet about the carmaker’s bitcoin holdings. The…
Nigerian startups raise $219m in Q1
Eighteen Nigerian startups raised $219m in the first quarter of the year, according to a report by ‘Intelligence by…
Economists evaluate Nigeria-China currency swap
Some Financial Economists have expressed great concerns on the minor influence that the Nigeria-China currency swap had on the country’s economy, three years after. The experts told newsmen in Lagos on Friday that the…
CBN begins gradual harmonisation of exchange rates
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is one…
Just IN: U.S. Colonial Pipeline pays N2.043b in ransom to hackers
U.S. Colonial Pipeline has paid a ransom close to $5million, about N2.043 billion to hackers, who disrupted its gas supply to America’s east coast. According to…
JGC awarded Pre-FEED Contract for first FLNG facility in Nigeria
JGC Holdings Corporation (Representative Director, Chairman and CEO Masayuki Sato) announced today that JGC Corporation (Representative Director and President Yutaka Yamazaki), which…
NNPC Picks 16 Companies for New Crude Oil-swap Deal
The Nigerian National Petroleum Corporation (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August. A report yesterday by Reuters listed the consortia to…
SUSTAINING ECONOMIC EMPOWERMENT THROUGH FINANCIAL INCLUSION AND ENERGY ACCESS
Financial inclusion and provision of sustainable energy is at a turning point in Africa’s largest economy, Nigeria. With a population of…
Nigerian airlines blame dollar scarcity, pandemic for rising airfares
Airlines have attributed the skyrocketing airfares, which have elicited disaffection from travellers to the scarcity of dollars and the COVID-19 pandemic. The airlines, in separate interviews with newsmen warned…
Elon Musk suspends acceptance of Bitcoin for Tesla cars
Elon Musk announced Wednesday night that Tesla has stopped accepting Bitcoin for car purchases due to increasing use of fossil fuel for its mining…
N45b hotel facility makes debut in Lagos
Airline crew and passengers travelling through the Murtala Mohammed International Airport (MMIA), Lagos have been called upon to embrace premium…
Nigerian first LNG Floating Plant: UTM Offshore, JGC, KBR Sign Pre-FEED Contracts
UTM Offshore, an indigenous oil and gas company, has kick-off the development of Nigerian first Liquefied Natural Gas (LNG) floating plant with the Pre-Front End Engineering Design…
UK asks Nigeria to remove tariff on solar power equipment
The United Kingdom has asked the federal government to consider the issuance of tariffs and customs duty exemption on solar-powered equipment to accelerate Nigeria’s energy access and low carbon energy transition. This…
Banks Slash Dollar-cash Deposits to $5,000 Monthly
Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity…