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Insurers pay N5.4b on #EndSARS riot
A total of N5.4 billion claims has been paid by insurers to Nigerians who suffered losses from #EndSARS riot that occurred last October, the Director-General, Nigeria Insurers…
Barge Operators Move One Million Containers In 1 Year
President of Barge Operators Association of Nigeria (BOAN), Edeme Kelikume Monday said about one million containers were ferried by barge in just one year by members.…
Facebook to launch digital wallet this year -Official
Facebook is ready to launch a digital wallet that would let users store cryptocurrencies, a senior company executive said in a US media interview Wednesday. David Marcus, head of…
Setting up filling stations in neighbouring countries won’t stop petrol smuggling – NNPC
The Nigerian National Petroleum Corporation (NNPC) says setting up filling stations in neighbouring countries will not stop petrol smuggling. Mele Kyari, group managing director of…
‘Tax evasion’: Tribunal orders Multichoice to pay N900bn to FIRS before hearing appeal
A tax appeal tribunal (TAT) sitting in Lagos has ordered Multichoice Nigeria Limited to pay 50 percent of N1.8 trillion to the Federal Inland Revenue Service (FIRS) over…
EFCC urges banks to ‘query’ customers’ sources of income
The Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulrasheed Bawa, has urged banks in the country to investigate the sources of income of their potential customers…
Dangote Pledges to Boost Engineering in Nigeria, Bags Multiple Awards
The Dangote Group has bagged three awards given by the Nigerian Society of Engineers (NSE) in recognition of its outstanding contributions to the development of the engineering…
PIA: FG reverses exclusive petrol importation rights for Dangote, BUA
The Petroleum Industry Bill signed into law by President Muhammadu Buhari has reversed an exclusive right for holders of local refining licence to import petroleum products.…
$1 billion operational costs push private jet owners into bankruptcy
• Only 46 private jets are active, others scramble for survival • Over 45 aircraft inactive, 30 in Customs’ duty defaults • Owners boycott aviation rules to…
FG Pays $266.141m Cash Call Arrears to JV Partners in One Year, $1.464bn Outstanding
The federal government through the Nigeria National Petroleum Corporation (NNPC) was only able to pay $266.141 million out of an outstanding balance of $1.730 billion of Joint…
FG raised N350bn from Sukuk in three years – Jaiz Bank MD
Hassan Usman, managing director and chief executive officer of , says the federal government raised N350 billion from Islamic financing instrument, particularly Sukuk, in the last three years. Usman spoke when over the…
Shoprite to divest from Uganda, Madagascar — one year after exiting Nigeria
Africa’s largest food retailer, has announced plans to discontinue its operations in Uganda and Madagascar. The company expanded across Africa, becoming the continent’s leading food retailer. However, due to challenges such…
MTN Nigeria to invest over N600 billion in network infrastructure
MTN Nigeria, largest network by market share, says it will invest over N600 billion in network infrastructure over the next three years to improve telecommunications services across the country. Ernest Ndukwe, chairman of…
Nigerians in Diaspora remit $65.34bn in three years
The Nigerian Diaspora population remitted $65.34bn in three years to boost economic activities in the country, data obtained from the World Bank have shown. According to the…
Bitcoin jumps above $50,000 for first time since May
Bitcoin broke back above $50,000 on Monday for the first time in three months as investors piled back into the cryptocurrency on bargain-buying. The unit climbed…
Eight Banks Lose N1.9bn To Fraud In One Year
Eight deposit money banks in Nigeria lost a total of N1.9bn as a result of fraudulent incidents last year, data collated from their annual reports have shown. They are…
Telecoms firms post N2.268tr revenue
All the mobile network operators (MNOs) posted a total revenue of N2.268trillion as at last December as against N2.019trillion recorded in the preceding year, according to the…
Tension in Nigeria LNG over cancellation of cargoes
There is tension in Nigeria Liquefied Natural Gas (NLNG) over deferrals, defaults and cancellation of cargoes despite increasing demand in the international market. Over 20…
NARTO, Dangote Refinery Collaborate on Efficient Products Distribution
Road Transport owners across Nigeria have expressed optimism that the 650,000 barrels-per-day Dangote Petroleum Refinery would deepen the downstream sector and positively…
Oil block row: NNPC warns Shell against another lawsuit
The Nigerian National Petroleum Corporation, on Friday, cautioned against any further legal challenge by Shell Petroleum Development Company over Oil Mining Lease 11, saying it…
Onlyfans To Ban Sexually Explicit Content
The subscription site OnlyFans, known for its adult content, has announced it will block sexually explicit photos and videos from 1 October. People will still be able to post nude…
CBN warns microfinance banks against forex transactions
The Central Bank of Nigeria has warned microfinance banks against performing certain non-permissible activities, including wholesale backing and foreign exchange transactions.…
Messi’s N247bn, Ronaldo’s N206bn Not Enough To Earn Them Top Spot in List of Players…
Six-time Ballon d’Or winner Lionel Messi has emerged the number two player with the highest net worth having amassed staggering wealth to the tune of $600 million (about N247…
CBN asks banks to block accounts of 18 companies
The Central Bank of Nigeria (CBN) has directed banks to place a post-no-debit on the bank accounts of 18 companies. A post-no-debit means that all debit transactions,…