Browsing Category
Business
N20bn: Tinubu, Alpha Beta ex-MD discuss out-of-court settlement
A former Managing Director of Alpha Beta Consulting, Dapo Apara, the All Progressives Congress leader, Bola Tinubu; and the current Managing Director of the company, Akin Doherty, have begun discussions on a possible…
Oil prices hit highest level since 2014
Oil jumped to a seven-year high early on Tuesday, a day after Yemeni Houthis attacked targets in the United Arab Emirates (UAE) with drones. The attack and the the continued tightness in the oil market lifted prices, reports…
NLNG suspends export of cooking gas for 100% domestic supply
The Minister of State for Environment, Sharon Ikeazor has commended Nigeria Liquefied Natural Gas (NLNG) Limited for its courageous decision to suspend the export of cooking gas while approving 100 per cent domestic supply of…
Outdoor advertising firms to showcase Sanwo-Olu’s achievements on digital billboards in Lagos
A group of advertising companies will be showcasing the achievements of Babajide Sanwo-Olu, governor of Lagos state, on their top light-emitting diode (LED) media platforms to applaud his…
JUST IN: CBN Invested Over N1trn On Farmers In Six Years – Emefiele
The Central Bank of Nigeria (CBN) has empowered at least 4,489,786 farmers through intervention financing, leveraging its flagship programme, the Anchor Borrowers’ Programme (ABP).…
Adekunle Ajayi: What’s Next in the World of Technology? 9 Tech Trends to Watch Out for in 2022
2021 was slow for most people but technology was at its highest due to the effect of COVID-19 shutdown. People started to hug their technologies whether they liked it or not as an after effect of the shutdown across the world.…
Payment in local currencies, real-time transactions… how Afreximbank’s PAPSS will work
On Thursday, the Africa Export-Import Bank (Afreximbank), in collaboration with African Union (AU) and African Continental Free Trade Area (AfCFTA), officially launched…
Surging food prices push inflation to 15.63% — first increase after 8 months of decline
The consumer price index, which measures the rate of increase in the price of goods and services, increased to 15.63 percent in December 2021 — This is the first increase after…
With PIA, NNPC will become most profitable company in Africa – Mele Kyari
Mele Kyari, chief executive officer of the Nigerian National Petroleum Company (NNPC) Limited, says the Petroleum Industry Act (PIA) provides business opportunities that will enable the company earn more revenue for the…
Foreign inflows fall by 32%, UK, South Africa, others slash Nigeria investments
The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 per cent to $500m in October 2021, from $660m recorded in September. The CBN disclosed these figures in its latest monthly economic…
Supreme Court admits registry’s error, reverses N2.4bn ruling against GTBank
The Supreme Court has reversed its earlier decision which dismissed an appeal filed by Guaranty Trust Bank against a N2.4bn judgment given in favour of Innoson Motors Nigeria Limited by the Court of Appeal in Ibadan, Oyo State.…
Dangote advocates Unity, Cooperation among Africans to get global recognition
…As Afreximbank launches centralised payment, settlement infrastructure platform for intra-African trade President of Dangote Group, Aliko Dangote, has charged African leaders and…
Ronchess Global Resources Plc. restructures company board
Following a successful listing on the Nigerian Exchange ( NGX – formerly the Nigerian Stock Exchange), Ronchess Global Resources Plc (RONCHESS) notified the Nigerian Exchange on January…
Nigeria to Pay More for Petrol Subsidy as Oil Price Hits $85
Oil prices continued their surge yesterday, hitting a two-month high amid projections that lack of production capacity and limited investment in the sector could lift crude between $90 and $100 a barrel this year.…
‘No staff will be affected in 2022’ — Standard Chartered confirms closure of Nigerian branches
Standard Chartered Bank has confirmed the closure of 50 percent of its Nigerian branches. On Tuesday, TheCable reported that the United Kingdom-based banking group would cut branches in Nigeria…
Pakistan’s central bank ‘wants to ban’ crypto
The State Bank of Pakistan (SBP) is reportedly seeking to ban all cryptocurrency transactions in Pakistan. Pakistan’s Sindh High Court reportedly held a hearing related to the legal status of cryptocurrencies in the country,…
Stanbic, Standard Chartered, Citi lead as banks record $38.2bn foreign inflows
Stanbic IBTC Bank, Standard Chartered Bank Nigeria, and Citibank Nigeria Limited lead as capital importation from banks hit $38.18bn in almost three years. Between January 2019 and September 2021 (33 months), the total…
We are not affiliated with Access Capital Investment Platform – Access Bank
Access Bank Plc says it has no business engagement or affiliation with Access Capital Investment Platform, an online investment entity. Sunday Ekwochi, company secretary at Access Bank, disclosed this Wednesday in a corporate…
Dangote Cement Begins Second Tranche Of Shares Buyback Programme
Dangote Cement Plc has commenced the second tranche of its shares buyback programme. Share buyback also known as share repurchase is the re-acquisition by a company of its own…
8 elite companies control nearly half of stock market with N11trn
Eight companies listed on the Premium Board of the Nigerian Exchange Limited (NGX), otherwise known as elite issuers, account for 49.2 percent of the total equities market capitalization at the end of 2021. The companies,…
Banks’ Credit To Private Sector Hit N5.16trn
The private sector has borrowed N5.16 trillion from banks between January and November 2021. Also, credit to the government increased by 5 per cent to N13.03 trillion as…
Days After Listing, BUA Foods’ Shares Jump 46.25%, Market Cap Hits N1.053trn
The shares of BUA Foods Plc have appreciated by 46.25 percent on the Nigerian Exchange Limited (NGX) after its formal launch last week. During a four -day trading session on the NGX…
Finance Act: LCCI opposes additional cost burden on investors
The Lagos Chamber of Commerce and Industry (LCCI ) has kicked against a provision in the Finance Act 2022, which involves capital gains tax at the rate of 5 percent, saying it is an…
NBET pays GENCOs 50% of invoice on power supply
POWER generation companies (GenCos) were paid just half of their total invoice to the Nigerian Bulk Electricity Trading Plc (NBET) for power supplied to the National Grid in the first…