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Business
America ‘Underwear Bomber’, Farouk Mutallab’s father, Umaru Mutallab makes a killing with Jaiz…
•the Dantata, Indimi Connection… THE OCTOGENARIAN BANKER AND FORMER MINISTER UMARU MUTALLAB HAS MOVED INTO THE ISLAMIC FINANCE SECTOR ALONG WITH SENIOR COMMUNITY FIGURES AND MAGNATES FROM…
South African rand falls as risk appetite wanes on US protests, Sino-US tensions
The South African rand fell against the dollar in early trade on Tuesday, amid growing concerns over U.S.-China tensions and rising violent protests across the United States. At 0645 GMT, the rand traded at 17.4130 per dollar, 0.22%…
CBN mandates banks to resolve ATM dispense errors within 48 hours
The Central Bank of Nigeria (CBN) has introduced a new timeline within with banks must resolve complaints relating to automated teller machine (ATM) dispense errors and failed point of sale…
Lagos begins process to reopen economy
The Lagos State Safety Commission has said the Register-to-Open initiative of the state government will soon begin in preparation to reopen the economy. The Director General…
Dangote Group wins CNN commercial’s award
Dangote Group has won another award through its television commercial on the Cable Network News (CNN) detailing its business processes, days after emerging the most admired…
Nigeria’s manufacturers hold N420b of unsold products
The Manufacturers Association of Nigeria (MAN) has expressed concerns over its overall inventory of unsold products worth N420 billion for the first quarter of 2020. Its…
South African Airways administrators request further delay for rescue plan
Administrators at South African Airways have asked creditors to approve an extension until June 8 for the publication of a business rescue plan for the struggling state airline, a letter seen by Reuters said. The administrators…
Federer edges Ronaldo sports rich list
Roger Federer is the world’s highest-paid athlete, the first time a tennis player took the No. 1 spot in Forbes’ annual list of the 100 top earners since its inception in 1990. Federer, the…
FIRS Intends To Start Charging Nigerians For Whatsapp Messages
Nigeria's Federal Inland Revenue Service (FIRS) has revealed their intention to start charging Nigerians for receiving SMS and Whatsapp messages that acknowledges their transaction on…
JUST IN: Kylie Jenner crashes out of Forbes billionaires league
Cosmetics mogul, #KylieJenner has dropped out of the billionaires league, according to a report by Forbes. Forbes downgraded the youngest of the Kardashian-Jenner clan after it stumbled on the…
Seplat targets more acquisitions as shareholders get $59m dividends
Seplat Petroleum Development Company Plc remains a resilient business with strong balance sheet to acquire more oil and gas assets and ensure sustainable growths and returns to shareholders. At the annual general meeting in…
MTN Nigeria opens offer of N100b commercial paper issuance
MTN Nigeria Communications Plc has started its Commercial Paper (CP) Issuance, series 1 & 2 of N50 billion each, under its N100 billion CP issuance programme. Afrinvest in a…
BREAKING: CBN MPC cuts benchmark interest rate to 12.5%
The monetary policy committee of the Central Bank of Nigeria (CBN) has reduced the monetary policy rate to 12.5% from 13.5%. Godwin Emefiele, governor of the apex bank, announced the…
CBN suspends repayment on intervention loans in OFIs, cuts interest rate to 5%
The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities in other financial institutions (OFIs) from nine to five percent per annum for one year, effective…
Canadian court disappoints Huawei over CFO’s case
A Canadian court ruled against Huawei’s chief financial officer, Meng Wanzhou, on Wednesday in her extradition case to the US on fraud charges. However, the company said it has faith…
BREAKING: Court stops revocation of Ororo Marginal Field
The Federal High Court sitting in Lagos has restrained the Minister of Petroleum Resources and Department of Petroleum Resources (DPR) from revoking the Ororo Marginal…
Oil crosses $35 on signs of improving demand
OIL prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus…
Lagos extends tax returns deadline again
THE Lagos State government has further extended the deadline for filing Annual Tax Returns to June 30. Yearly returns for individuals (employees and self-employed…
Naira in ‘marginal’ recovery as speculators face N10b loss
The naira has for the first time in several weeks made marginal recoveries at the Investors’ and Exporters’ (I&E) Forex window and parallel market. The modest appreciation of the local currency followed Central Bank of…
German government takes over Lufthansa airline
The German Government and Lufthansa have agreed on a much-anticipated bailout deal to help the airline cope with losses from the coronavirus pandemic, both sides announced on Monday. The…
SMEs must reinvent to remain competitive – Heritage Bank CEO, Sekibo
Managing Director/Chief Executive, Heritage Bank Limited, Mr. Ifie Sekibo has advised Small and Medium Enterprises (SMEs) to reinvent themselves in order to remain competitive and…
Despite pandemic, American billionaires ‘ wealth rises by $434 billion
America’s billionaires saw their wealth increase by $434 billion during the course of the global pandemic, according to a new report, a staggering figure that coincided with upheaval…
Lagos bakers say prices of bread may increase by 60%
Lagos State Bakers have called on the Federal Government to urgently intervene in the prices of baking materials, which may lead to increase in the prices of bread by 60 per cent anytime…
Warren Buffett scammed in Germany
Warren Buffett, world’s fourth wealthiest man has been swindled by a German manufacturing company of €643million. This happened when the normally shrewd investor was made to pay four times more than…