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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,…
Banks’ directors back CBN’s action on First Bank
Directors of banks have thrown their weight behind the action taken by Central Bank of Nigeria (CBN) to steer First Bank on course. The apex bank last week reversed the move…
CBN extends Naira 4 dollar incentive for diaspora remittances indefinitely
The Central Bank of Nigeria (CBN) has announced an extension to its Naira 4 dollar incentive to encourage diaspora remittances till further notice. The apex bank…
FIRS to deduct tax from defaulters’ bank accounts, other assets
The Federal Inland Revenue Service (FIRS) says it will begin to deduct tax liabilities from defaulters’ bank accounts. FIRS’ move to deduct tax liabilities directly from bank…
#EndSARS: ‘Lagos supported businesses with N940m’
Lagos State Government has said it has supported 1,835 businesses affected by the #EndSARS protest mayhem with N939.98 million. The Commissioner for Wealth Creation and…
Dangote Cement, Major Contributor to Senegal’s Economic Devt, says Envoy
Dangote Cement Plc’s huge investment has been described as one of the major contributors to the development of the Senegalese economy. Besides, the Cement plant…
Bloomberg delists Bill Gates from billionaire index after divorce
Bloomberg has delisted Bill Gates, one of the world’s richest men, from its billionaire index, following the announcement of a divorce from Melinda Gates, TheCable can report. On…
First Bank: Insiders’ games
First Bank is still reeling under the impact of the attempted leadership change and the intervention of the Central bank of Nigeria (CBN). …
Our debts are being serviced – Honeywell Group
Honeywell Group has said it is servicing loan facilities obtained from First Bank of Nigeria Limited and other financial institutions to carry out its operations.…