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Ex Diamond Bank Chairman Dies
Former chairman of Diamond Bank Board of Directors Seyi Bickersteth is dead, according to a report by Nairametrics. The online medium, quoting multiple sources, said Bickersteth was…
We found 6,722 companies with N1 billion banking turnover paying no taxes – FIRS
The Federal Inland Revenue Service (FIRS) says it discovered that 6,722 companies, partnerships and enterprises with a banking turnover of N1 billion were not paying taxes as of May 2018. Mohammed Nami, the FIRS executive…
We’re treating agriculture as moneymaking business — FG
The Federal Government, Tuesday, assured that agriculture is being treated as moneymaking business and to create wealth for agribusiness players. The assurance was made in a keynote address delivered by Regional…
Nigerians have lost N18bn to Ponzi schemes – SEC
The Securities and Exchange Commission (SEC) has disclosed over 3 million Nigerians have lost about N18 billion to Ponzi schemes and several other illegal…
Dangote Sugar Refinery’s profit rises to N29.78bn
Dangote Sugar Refinery Plc posted a profit after tax of N29.78bn in 2020, compared to N22.36bn in 2019, according to its audited financial statements. The company said in a statement on Monday that despite the…
BREAKING: Shoprite Workers Shut Down 25 Shoprite Outlets in Nigeria, Begins Industrial Action
All 25 outlets of food retailer Shoprite in Nigeria have been shut down by workers, who are currently embarking on an industrial action over the sale of the company to Tayo Amusan’s…
FMDQ Exchange admits Parthian Partners N20 billion commercial paper
The FMDQ Securities Exchange Limited has announced the registration of the Parthian Partners Limited ₦20.00 billion Commercial Paper (CP) Programme to its platform. The registration of this CP Programme strategically…
MTN records N1.3 trillion service revenue, 76.5 million subscribers
MTN Nigeria, on Monday, released its audited results for the financial year ended 31 December 2020, where it raked in N1.3 trillion service revenue in the last fiscal year, which is a 14.7 per cent increase in revenue.…
Dangote Grooms Nigerian Engineers to Manage Refinery Complex on Completion
The Management of Dangote Oil Refinery is preparing young Nigerian graduates to take over the management of its 650,000 barrels per day single train refinery when it…
Nigeria’s central bank plans to strengthen Naira, economy through $15 billion Dangote refinery
The Central Bank of Nigeria, CBN, has concluded plans to strengthen the Naira, and by extension the nation’s economy through the $15 billion Dangote Refinery. Specifically, the CBN governor, Mr. Godwin Emefiele, who…
Dangote wants only refinery licence holders to import fuel
Dangote Group has suggested for inclusion in the Petroleum Industry Bill a provision that the licence to import petroleum products should be assigned only to companies with active refining licences. The company, which…
Firm to begin gold exportation from Osun in June – Minister
Minister of Mines and Steel Development, Olamilekan Adegbite, says the Nigerian-Canadian company mining gold in Nigeria’s Osun State is to start exporting the precious metal in June this year. Mr. Adegbite made the…
Mike Tyson Earns $500,000 Per Month From Marijuana Business
After retiring from boxing, Mike Tyson has dedicated time to his own businesses, one of which has to do with cannabis plantation. His company is called ‘Tyson…
Warren Buffet’s Berkshire Hathaway makes higher profit
Warren Buffett’s Berkshire Hathaway Inc on Saturday said improved results from its insurance businesses and soaring prices of stocks such as Apple Inc led to a nearly $36…
StarTimes faces “winding-up” order over $11million debt
StarTimes, the Chinese-owned Pay-TV operator with tentacles across Africa, is at “serious risk” of receiving a court-mandated “winding-up” order over US $11million debt.…
Dangote Refinery to buy Nigerian crude in Naira, sell petrol in Naira
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, said Dangote Refinery would buy Nigeria’s crude oil in Naira and also sell petrol to Nigeria in naira when it…
TY Danjuma: The retired military general who made Forbes richest list
It is not every day you come across a retired Military General who remains in the limelight more than four decades after retiring from active service and for reasons totally unconnected to the military…
British Airways loses €7.4bn to COVID-19
International Airlines Group, British Airways, has announced the biggest loss in its history as the COVID-19 pandemic closed borders and grounded its aircraft. The airline group,…
Cryptocurrencies should be regulated, not prohibited – Osinbajo tells CBN
Nigeria’s vice president Yemi Osinbajo Friday called for the regulation of cryptocurrencies in the country, as against the prohibition of digital currencies.…
FG Seeks Asset Manager for N15tn Infraco Fund
•PwC, KPMG, others apply to be transaction advisers The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion…
Indian billionaire says the country’s regulators need to ‘step in and ban bitcoin’
Indian billionaire investor Rakesh Jhunjhunwala said the country's regulators should ban cryptocurrencies such as bitcoin. The investor, sometimes referred to as India's Warren Buffett, said he "will never…
Bitcoin drops 17% after Elon Musk’s comment on valuation
Bitcoin, world’s biggest cryptocurrency, plummeted as much as 17 per cent on Tuesday, with prices tumbling below $50,000 as investors grew nervous…
Dangote Refinery Set to Sell First Oil in Early 2022
Having crossed all hurdles, the 650,000 barrels a day Dangote refinery an integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, will commence full production by early 2022. It is…
BREAKING: CBN, NFIU reverse $3m Cryptocurrency fraud
The Central Bank of Nigeria and the Nigerian Financial Intelligence Unit has reversed a $3 million fraud back to a country. The fraud was perpetuated…