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Google earmarks $1b for digital transformation of Africa
Technology giant, Google, has reiterated its commitment to digital economy and transformation of Africa. Google made the announcement during the maiden edition of Google for Africa…
Used vehicle prices soar over freight, clearing charges, FX
• Nigeria spends N601.51b on importation of vehicles in H1, 2021 • Freight rate high because shipping lines, airlines charge for import, export on a single trip •…
Tesla ordered to pay $130m to African American ex-staff Owen Diaz
A federal jury in San Francisco, California has ordered Elon Musk’s Tesla Inc to pay more than $130 million in damages to Owen Diaz, an African American former worker. The…
Oil surpasses $81, Nigerian production drops by 130,000 barrels
Oil prices climbed above $81 on Monday as the Organisation of Petroleum Exporting Countries and its allies announced that it would maintain its steady output increase by…
Nigerian Stock Market Opens October With ₦15 Billion Gain
Trading in the domestic stock market resumed on Monday bullish with a gain of 0.05 per cent on investors’ interest in Eterna and 22 others. Precisely, the benchmark index rose by…
Airtel Nigeria To Buy ₦61 Billion Shares From Minority Shareholders
Airtel Networks Limited (Airtel Nigeria) has initiated a process to buyback 8.27 percent minority shareholdings at N55.81 per share, estimated at N61.24 billion. Buyback is…
Billions of dollars lost as Facebook shuts out 2.9 billion subscribers
The global economy lost billions of dollars as Facebook, WhatsApp, and Instagram went down at about 4.42pm on Monday. According to NetBlocks, which tracks internet outages…
$2bn Spent on Wheat Importation Annually – CBN
The Central Bank of Nigeria (CBN) yesterday revealed that the importation of wheat costs the country about $2 billion annually, thereby exerting pressure on the country’s food import…
Aiteo Slams $2.5bn Suit against Shell over Sale of OML 29
Aiteo Eastern Exploration and Production Company Limited has instituted a legal action against Shell Petroleum Development Company of Nigeria, seeking the sum of over…
Binance Bans Singapore Users From Accessing Its Global Platform
The crypto giant, Binance has banned Singapore Users from accessing its platform globally. The crypto firm stated that beginning October 26, Singapore users will be unable to…
Domiciliary Account Balances In Nigeria Estimated At $16 Billion – Report
Nigeria has an estimated $16 billion in domiciliary accounts of commercial and merchant banks, data from the Central Bank of Nigeria reveals. We assumed an official…
The Designer’s Perspective By Mayowa
It is said that “Perspective is everything.” The biggest predictive factor of how our lives will turn out is, without a doubt, how we perceive life's experiences. This is because practically every aspect of existence is governed by how…
OPEC Hinges Attainment of Global 6.9mbpd Refining Capacity Addition on Dangote Refinery
Dangote’s 650,000 barrels-per-day (bpd) oil refinery project has been identified as one of the oil distillation companies that would boost global refining capacity by 6.9…
Jack Ma’s Costliest Business Lesson: China Has Only One Leader
Brainy and ambitious, Jack Ma built one of China’s largest business empires from scratch, creating billions of dollars in wealth and introducing digital innovations to hundreds…
CBN postpones planned unveiling of eNaira
The Central Bank of Nigeria says it has postponed the unveiling of the country’s first digital currency, eNaira, citing key activities lined up for Nigeria’s independence anniversary.…
Andela raises $200 million, becomes Nigeria’s latest unicorn
Andela, a Nigerian startup that connects African software engineering talent to global companies, has become the country’s newest startup to attain the unicorn status after raising $200…
Close Domiciliary Accounts For 12 Months To Save Naira – Obanikoro tells CBN
A House of Representatives member, Ibrahim Obanikoro, representing Eti-Osa Federal Constituency, Lagos State, has called on the Central Bank of Nigeria (CBN) to close all domiciliary accounts for…
BCAN Backs Banks, CBN in Publishing Forex Defaulters’ Names
The Bank Customers Association of Nigeria (BCAN) have lauded the Central Bank of Nigeria (CBN) foreign exchange policy and deposit money banks decision to publish the names of violators…
PIA: CAC Incorporates NNPC Limited
The Corporate Affairs Commission (CAC) Wednesday said it had completed the incorporation of Nigerian National Petroleum Company (NNPC) Limited in accordance with provisions of the…
Senate asks international oil companies to relocate headquarters to Niger Delta
The senate has asked international oil companies (IOCs) operating in the Niger Delta region to relocate their headquarters to their states of operation. The upper…
Sustainability week: Dangote donates to old age home, physically challenged children
As part of activities marking the 2021 Global Sustainability Week, employees of the pan-African of Dangote Group, have donated food items and other hygiene products to the old age and…
Court declares CBN lodgement, withdrawal levies discriminatory, unreasonable
A Federal High Court sitting in Awka, Anambra State, and presided over by Justice N.O. Dimgba, has ruled as discriminatory the cashless policy of the Central Bank of Nigeria on…
E-Naira: Company Sues CBN For Trademark Infringement
A cease and desist notification has been sent to the Central Bank of Nigeria (CBN) concerning the use of the name “eNaira.” This is according to a document seen by…
FCMB Promo: Anambra, Zamfara Produce New Millionaires
It was excitement galore for 358 customers of First City Monument Bank (www.fcmb.com) after winning cash prizes at the fifth draws of the ongoing Millionaire Promo…