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Michael Jordan’s Air Jordan sneakers sell for record $560K
A pair of Air Jordan sneakers worn in a game by Michael Jordan sold Sunday for $560,000 at Sotheby’s auction house, an all-time record for basketball shoes. The white, black and red…
CBN naira defence depletes foreign reserves by $3.17bn
Forex scarcity due to falling crude oil price forced the Central Bank of Nigeria to access the country’s foreign reserves to make forex available in the economy; NIKE POPOOLA reports that…
Uncommitted Cargoes Down Drastically, Reason for Oil Price Rise – Kyari
After weeks of unprecedented global lockdown occasioned by the coronavirus pandemic that has ravaged businesses, forcing closures and massive supply glut in the oil market, respite…
FCMB Connects Entrepreneurs To Experts With “Top-5-In-5” Initiative
Leading financial services provider, First City Monument Bank (FCMB), has continued to blaze the trail with innovative and value-added offerings to boost the productivity and overall…
MTN Group’s revenue rises by 11%, subscribers now 257.3m
MTN Group on Thursday said strong growth in Nigeria and Ghana helped offset lower revenues in its home market South Africa. The telco said it delivered a solid…
We’re Implementing New VAT Rate, Not Raising Prices – MultiChoice
Pay television company, Multichoice Nigeria, has dismissed reports that it is set to increase subscription rates for its DStv and GOtv packages from 1 June. The company…
Nigeria generates N338bn from VAT in Q1 2020
Data provided by the National Bureau of Statistics (NBS) shows that the country generated N338.94 billion as value-added tax in the first quarter of 2020. This is an increase from…
Jumia records €2.5m profit as consumers reach a record high of 6.4m
Jumia has recorded €2.5 million profit as consumers reach a record high of 6.4 million. The report released by the company stated that the €2.5m gross profit was reached after the…
12 years after conception, NLNG gives green light to Train 7 project
Shareholders of Nigeria LNG Limited and the Nigerian National Petroleum Corporation (NNPC) have announced the final investment decision (FID) on building a seventh train (production line) in the Bonny LNG plant. The shareholders of…
Nigerians spent N1.18trn using our electronic platforms during lockdown – First Bank
First Bank says cardholders carried out transactions worth N1.18 trillion during the period of the lockdown. Adesola Adeduntan, chief executive officer of the bank, said…
OPEC sees oil market already rebalancing
The rebalancing of the oil market is underway and will accelerate, the OPEC cartel said Wednesday, days after some of its members voluntarily increased their production cuts. The world oil market was thrown into disarray earlier…
Rihanna topples Elton John, Ed Sheeran on UK music rich list
Rihanna Fenty has toppled music moguls like Mick Jagger, Elton John and Ed Sheeran on a UK rich list, less than a year after she moved to London. The Barbadian songstress, who last…
Dollar Sells For N445 As Forex Scarcity Persists
The dollar exchanged for N445 in the parallel market on Monday due to scarcity and shrinking liquidity in the forex market. The extension of the ban placed on flights in the country…
Nigeria’s Bonny Light rise above $25 as Saudi Arabia further cuts supply
The price of Nigeria’s crude grades rose above $25 per barrel on Tuesday after some countries announced plans to further cut supply to the global crude market. This is in…
Saudi Aramco profit plunges
Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, hurt by lower oil prices and coronavirus. Net profit fell to 62.48…
AT&T Boss Retires With $274,000 A Month For Life
Not everyone gets personally insulted by the president of the United States when they announce their retirement. But when you’re walking away with a pension plan big enough to buy a typical…
10 banks made N124.47bn in fees, commission in Q1
Ten Deposit Money Banks (DMBs) in the country earned a total of N124.47 billion in fees and commission income in the first three months of this year, the lenders’…
Oil prices drop amid supply glut, fears of second coronavirus wave
Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers. Brent crude futures were down…
Foreign investors free to repatriate funds, says CBN
Foreign investors wishing to repatriate their funds from Nigeria can safely do so, the Central Bank of Nigeria (CBN), has assured. CBN Governor Godwin Emefiele at the…
Rising Oil Prices Will Have Significant Political Cost for Nigeria – Report
•Zero petrol subsidy to save country $2bn yearly As Nigeria anxiously expects oil prices to rise to a comfortable position and boost the country’s confidence to recover from the…
Elon Musk threatens to move Tesla out of California
Tesla chief Elon Musk on Saturday threatened to pull his electric car headquarters and plant out of California. He made the threat after local authorities kept him…
NSE Commences Recruitment Process for Onyema’s Successor
The Nigerian Stock Exchange (NSE) has started the recruitment process for the role of its Chief Executive Officer currently held by Mr. Oscar Onyema. This followed the appointment…
Europe’s wealthiest man has lost $30 billion during Coronavirus crisis
The richest man in Europe and third-richest billionaire worldwide, has lost a whooping $30 billion due to the coronavirus pandemic, this is more than any other person worldwide. The coronavirus is an ongoing pandemic which has led to the…
Despite lockdown, stock market investors gain N897bn
Notwithstanding the lockdown the Nigerian economy witnessed in April over the ravaging CODIV-19 pandemic, the stock market, boosted by the remote trading via fintech, recorded a gain of N897bn during the month. The Federal…