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MTN Nigeria issues N110b first telecom bond
MTN Nigeria said it has successfully issued N110 billion Series 1, 7-Year 13.0 per cent Fixed Rate Bonds due 2028, (Series Bond). The issuance, it said, is…
Terminal Opens, Handles 2 Vessels At Onne Port
Onne Multipurpose Terminal (OMT), a new terminal at the Onne Port in Rivers state, has commenced operations as it has handled two vessels since last week with the…
Elon Musk’s Starlink for launch in Nigeria soon
Elon Musk’s SpaceX is in the process of getting necessary licences to bring Starlink, its satellite-based broadband services, to Nigeria. The company had been in discussion with the Nigerian Communications…
Uber raises fares by 13% in Lagos
The economy option for Uber, popularly referred to as UberX, has been increased by 13 per cent in Lagos State. An electronic mail message from the ride-hailing firm to its drivers stated that the increment would start from…
Coastline Terminals: Dangote Group Says It Is Not Affiliated With ICTSI
Dangote Group of Companies has debunked the claim by Sahara Reporters that the suspended Managing Director of Nigeria Port Authority (NPA), Hadiza Usman awarded…
Hackers of U.S. Oil Pipeline wants ransom paid
Hackers of U.S. fuel pipeline operator said in a news release on Monday that its goal was to make money and not to create problems for society. The ransomware attack…
US dollar share of global forex reserves drops to 25-year low
The share of United States dollar reserves held by central banks across the world fell to 59 per cent—its lowest level in 25 years, during the fourth quarter of 2020. This is according to the just-released International…
Ekiti, Promasidor take delivery of second batch of Jersey heifers
Ekiti State Government and Promasidor Nigeria has taken delivery of 250 pregnant heifers from the United States of America. In a…
Ronchess Transition to a PLC
It's a 5 decade plan that was designed after my executive program at the Harvard Kennedy School of Government in 2014 and as long as we do not alter our value propositions and we maintain the strategy as it is,…
CBN disburses N83.9b loans to pharmaceutical companies
The Central Bank of Nigeria (CBN) has disbursed N83.9 billion loans to pharmaceutical companies and healthcare practitioners supporting 26 pharmaceutical and 56 medical projects across the country. CBN Governor,…
Banks’ directors back CBN’s action on First Bank
Directors of banks have thrown their weight behind the action taken by Central Bank of Nigeria (CBN) to steer First Bank on course. The apex bank last week reversed the move…
CBN extends Naira 4 dollar incentive for diaspora remittances indefinitely
The Central Bank of Nigeria (CBN) has announced an extension to its Naira 4 dollar incentive to encourage diaspora remittances till further notice. The apex bank…
FIRS to deduct tax from defaulters’ bank accounts, other assets
The Federal Inland Revenue Service (FIRS) says it will begin to deduct tax liabilities from defaulters’ bank accounts. FIRS’ move to deduct tax liabilities directly from bank…
#EndSARS: ‘Lagos supported businesses with N940m’
Lagos State Government has said it has supported 1,835 businesses affected by the #EndSARS protest mayhem with N939.98 million. The Commissioner for Wealth Creation and…
Dangote Cement, Major Contributor to Senegal’s Economic Devt, says Envoy
Dangote Cement Plc’s huge investment has been described as one of the major contributors to the development of the Senegalese economy. Besides, the Cement plant…
Bloomberg delists Bill Gates from billionaire index after divorce
Bloomberg has delisted Bill Gates, one of the world’s richest men, from its billionaire index, following the announcement of a divorce from Melinda Gates, TheCable can report. On…
First Bank: Insiders’ games
First Bank is still reeling under the impact of the attempted leadership change and the intervention of the Central bank of Nigeria (CBN). …
Our debts are being serviced – Honeywell Group
Honeywell Group has said it is servicing loan facilities obtained from First Bank of Nigeria Limited and other financial institutions to carry out its operations.…
Global e-commerce sales hit $26.7 trillion, 3 Chinese firms in top 4
Global e-commerce sales jumped to $26.7 trillion globally in 2019, up 4% from 2018, and even grew higher in 2020 due to COVID-19…
FG to earn $340m from new operator of Addax OML
The federal government is expected to earn a princely sum of $340million from the new operator of the Addax OML License, The Nation has learnt. The committee led by a former senator, Magnus Abe, said $1…
Elite $100 Billion Club Gets Two New Members Via Tech Boom
The rally in tech shares has taken the number of people with fortunes of more than $100 billion to eight. Google co-founders Larry Page and Sergey Brin joined the exclusive club last week, entering a group dominated by U.S. tech…
How CBN countered First Bank coup
The changes that swept through First Bank of Nigeria Limited and FBN Holdings Plc penultimate Wednesday and Thursday took many by surprise. The removal and reinstatement of FirstBank CEO Sola Adeduntan and subsequent…
Dangote Cement to pay N40.39 bn in corporate tax
…ramps up production capacity to meet local demand Nigeria’s Dangote Cement Plc is expected to pay a total of N40.39 billion in…
Nigerian banks turn up mega profits despite COVID-19
Nigerian banks have defied COVID-19 by posting higher profits in 2020 than in 2019, as shown by earnings released by the Nigerian Exchange (NGX).…