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Elon Musk bumps up Bitcoin again
Bitcoin rallied from three-month low on Monday in the wake of Tesla boss Elon Musk’s latest reassuring tweet about the carmaker’s bitcoin holdings. The…
Nigerian startups raise $219m in Q1
Eighteen Nigerian startups raised $219m in the first quarter of the year, according to a report by ‘Intelligence by…
Economists evaluate Nigeria-China currency swap
Some Financial Economists have expressed great concerns on the minor influence that the Nigeria-China currency swap had on the country’s economy, three years after. The experts told newsmen in Lagos on Friday that the…
CBN begins gradual harmonisation of exchange rates
The Central Bank of Nigeria (CBN) yesterday began gradual harmonisation of exchange rates with the removal of N379/$1 official rate from its website. The move by the apex bank is one…
Just IN: U.S. Colonial Pipeline pays N2.043b in ransom to hackers
U.S. Colonial Pipeline has paid a ransom close to $5million, about N2.043 billion to hackers, who disrupted its gas supply to America’s east coast. According to…
JGC awarded Pre-FEED Contract for first FLNG facility in Nigeria
JGC Holdings Corporation (Representative Director, Chairman and CEO Masayuki Sato) announced today that JGC Corporation (Representative Director and President Yutaka Yamazaki), which…
NNPC Picks 16 Companies for New Crude Oil-swap Deal
The Nigerian National Petroleum Corporation (NNPC) has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August. A report yesterday by Reuters listed the consortia to…
SUSTAINING ECONOMIC EMPOWERMENT THROUGH FINANCIAL INCLUSION AND ENERGY ACCESS
Financial inclusion and provision of sustainable energy is at a turning point in Africa’s largest economy, Nigeria. With a population of…
Nigerian airlines blame dollar scarcity, pandemic for rising airfares
Airlines have attributed the skyrocketing airfares, which have elicited disaffection from travellers to the scarcity of dollars and the COVID-19 pandemic. The airlines, in separate interviews with newsmen warned…
Elon Musk suspends acceptance of Bitcoin for Tesla cars
Elon Musk announced Wednesday night that Tesla has stopped accepting Bitcoin for car purchases due to increasing use of fossil fuel for its mining…
N45b hotel facility makes debut in Lagos
Airline crew and passengers travelling through the Murtala Mohammed International Airport (MMIA), Lagos have been called upon to embrace premium…
Nigerian first LNG Floating Plant: UTM Offshore, JGC, KBR Sign Pre-FEED Contracts
UTM Offshore, an indigenous oil and gas company, has kick-off the development of Nigerian first Liquefied Natural Gas (LNG) floating plant with the Pre-Front End Engineering Design…
UK asks Nigeria to remove tariff on solar power equipment
The United Kingdom has asked the federal government to consider the issuance of tariffs and customs duty exemption on solar-powered equipment to accelerate Nigeria’s energy access and low carbon energy transition. This…
Banks Slash Dollar-cash Deposits to $5,000 Monthly
Nigerian banks have reduced the amount of United States dollars customers can pay into their domiciliary accounts from the previous $10,000 to $5,000 monthly. A top bank official who craved anonymity…
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,…