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Elon Musk loses $15 billion, world title as richest man
Tesla CEO Elon Musk has been toppled as the world’s richest person after losing US$15.2 billion from his net worth in one day. A tweet by Musk made Tesla shares…
FCMB, Stanbic lead biggest banks stock return in 5yrs
Some banks listed on the Nigerian Stock Exchange (NSE) have been able to weather the storm of two economic recessions and an ongoing pandemic with their stocks returning 100 percent or more in the last five years.These…
Jay-Z Sells Half His Champagne Brand To LVMH’s Moet Hennessy
Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac.…
Universal One begins 576 apartments in Alaro City
Prospective homeowners in Lagos have received a boost in their options for modern, family-friendly homes with the start of sales of 576-unit apartment complex at…
Court Sets aside Order Seizing Jimoh Ibrahim’s Assets over Alleged 69.4bn Debt
Justice Okon Abang of a Federal High Court in Abuja on Monday set aside his order made on January 4, directing the Asset Management Corporation of Nigeria (AMCON) to take over the assets belonging to a businessman,…
Court Orders AMCON to Unfreeze NCC Director, Others’ Bank Accounts
Justice Muslim Sule Hassan of the Federal High Court in Lagos has set aside an ex-parte order freezing the bank accounts of a member of the Board of the Nigerian Communications Commission (NCC), Mr. Clement…
30 per cent duty waiver on mass transit vehicles begins
President Muhammadu Buhari has granted a 30 per cent import duty reduction on passenger transport vehicles. The import duty reprieve covers aviation engines and spare parts and takes immediate…
Dangote boss hinges business success on effective stakeholders’ management
The Group Managing Director of Dangote Industries Limited, Olakunle Alake has hinged success of business organisations on the adoption and implementation of effective stakeholders’ management…
NCC allocates 382.9m new telephone numbers to telecom operators
Nigerian Communications Commission (NCC) has allocated 382.94 million new telephone numbers for telecommunications operators across the country. This was contained in NCC’s national numbering plan (NNP) for the first…
Apple ‘developing’ magnetic battery pack for iPhone
Apple is reportedly developing a new iPhone charging accessory in the form of a battery pack that magnetically attaches to the rear of the device using MagSafe, Bloomberg reports. Although some prototypes have a rubber…
Bitcoin market cap nears $1 trillion
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an…
We’ve disbursed N68bn to entrepreneurs in three years – NEXIM
Abba Bello, managing director of Nigeria Export-Import Bank (NEXIM), says the bank has disbursed N68.01 billion to 68 Nigerian entrepreneurs, in the last three years under its export development fund. Speaking with…
Markets shut to honour Jakande
The Iyaloja-General, Chief Folashade Tinubu-Ojo, has ordered all markets in Lagos closed to honour the late Alhaji Lateef Jakande. Chief Tinubu-Ojo told The Nation that the first civilian governor of Lagos state deserved…
Elon Musk says Bitcoin better than cash
Tesla Inc CEO Elon Musk said that bitcoin is a better asset to hold than conventional cash. “However, when fiat currency has negative real interest, only a fool wouldn’t…
WorldRemit welcomes CBN’s mandate on new USD bank account opening
WorldRemit, a leading cross-border digital payments service, has welcomed the Central Bank of Nigeria’s announcement that all banks will be mandated to facilitate money transfers by…
Flexible payment from banks deepens Nigeria car loan market
Buying a car just got easier for Nigerians who are contending with rising inflation and stagnating incomes with the rising option for flexible payments. With car loans, a…
CBN directs banks to open dollar account for remittances
The Central Bank of Nigeria (CBN) has mandated commercial banks to open new dollar account with offshore lenders for receiving international money transfers. The directive was disclosed by…
IMF backs CBN on Cryptocurrency suspension
The International Monetary Fund (IMF) has confirmed some of the crypto currencies were being used for money laundering and drugs trafficking. This corroborates what the Central Bank…
Africa leads global mobile money growth with 46 percent
There are about one billion mobile money accounts globally, according to latest report by cybersecurity giants, Kerspersky. These accounts, the report revealed, process more than $1.9 billion daily. However, the most…
Bitcoin makes history hits $50,000 for the first time
The price of Bitcoin on Tuesday rose above $50,000 for the first time in history. The buzz around bitcoin grew when the second richest man in the world Elon Musk in a series of…
Lagos consumes half of all animals produced in Nigeria
Half of all animal produced in Nigeria is consumed in Lagos alone, the state government has said. Governor Babajide Sanwo-Olu of Lagos State disclosed this at the commissioning of the new semi-mechanized abattoir for cows…
Oil prices climb higher
Oil prices rose on Tuesday as a cold front shut wells and refineries in Texas, the biggest crude producing state in the United States, the world’s biggest oil producer. Prices also gained as Yemen’s Iran-aligned…
Fidelity Bank Plc issued the largest ticket Tier II Local Bonds in Nigeria
Fidelity Bank Plc has successfully issued 10 years N41.21 billion in fixed rate unsecured subordinated bond at a 8.5 percent coupon rate due in…
Bitcoin hits record high $50K
Bitcoin hit a new record high and approached $50,000 on Sunday, as Wall Street and Main Street increasingly adopt the world’s biggest cryptocurrency.…