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Ardova Plc to emerge Nigeria’s largest downstream energy firm
In a corporate disclosure statement to the Nigerian Exchange (NGX), Ardova Plc (AP) announced that it had reached an agreement to acquire a 100percent equity stake in Enyo Retail and Supply…
Emirates Airline posts first ever annual loss
Dubai-based Emirates Airline on Tuesday posted a $5.5 billion annual loss, its first in more than three decades. It arose from the devastation wrought on the aviation…
Multi-billion naira ranching opportunity beckons on Nigerian investors
The recent ban on open grazing in Southern Nigeria by the governors has presented billion-dollar investment opportunity in ranching for entrepreneurs to tap into. The opportunities range from the cultivation of…
Kemi Adeosun reemerges with ‘Dash Me Store’, an online thrift-for-charity initiative
The Dash Me Foundation founded by Kemi Adeosun, former minister of finance, has launched “Dash Me Store”, an online thrift-for-charity initiative. The store, inaugurated on…
Telcos back licensing of Twitter, others
Nigerian telecommunications operators have thrown their weight behind the directive of the Federal Government to register Over-The-Top (OTT) service providers in the country.…
Dangote $2 billion urea fertilizer Plant pushes out 120 trucks everyday
… Excites marketers, farmers in North After months of speculations, Dangote Urea fertilizer is now finally on sales nationwide and it currently pushes out a minimum of 120…
Twitter needs India and Nigeria to grow. It’s running into trouble in both
Twitter is under siege in two countries that are critical for its global growth plans. The social media giant has been ensnared in a battle with the Indian government for months over free speech and other…
South Africa to regulate Cryptocurrency trading
South Africa’s financial regulator announced its intention to bring the cryptocurrency market under its oversight. This was mentioned in a paper from the Intergovernmental Fintech Working Group (IFWG) yesterday with…
Takatso Consortium Buys 51% Of Struggling S/African Airways
In an effort to save South African Airways (SAA) from going under, Takatso Consortium has bought a 51 percent stake in the struggling airline for $221 million or Three…
Jeff Bezos Reclaims The Richest Person Title After 2-Weeks At Being The Second Richest
Two weeks after losing the title of the richest person in the world to LVMH chief Bernard Arnault, Amazon’s Jeff Bezos reclaimed the No. 1 spot on Thursday according to Forbes. Amazon shares…
Digital currency coming, says CBN
The Central Bank of Nigeria (CBN) plans to introduce digital currency before the end of the year, its Director Information Technology, Rakiya Mohammed, said on…
CBN debunks report on planned nationalisation of Unity Bank
The Central Bank of Nigeria (CBN) has denied planning to nationalise Unity Bank Plc as alleged by an online news medium. Reacting to the report, the Acting Director, Corporate…
MTN to pay shareholders N9.40 dividend per share
MTN Nigeria Communications Plc, has announced the payment of N9.40 final dividend per share to shareholders for the year ended December 31, 2020. The dividend represents 18.7…
Importers, agents groan as Customs adopt N404.97/$1 as new import duty rate
Importers in the country are to pay more, as the Federal Government, through the Central Bank of Nigeria (CBN) adopts a higher exchange rate band from N381 to N404.97 for calculation and payment of import duty.…
With Declining Sector Investments, NNPC Predicts $200 Oil Price
The Nigerian National Petroleum Corporation (NNPC) yesterday predicted that oil price could climb as high as $200 per barrel, as banks and major International Oil Companies (IOCs)…
Oil prices hit highest levels in years on improved demand
Oil prices continued an upward trend on Wednesday as confidence in the outlook continues to grow on the back of strong fuel demand in western economies. Brent crude futures were up 42 cents, or 0.6percent, at…
NLNG revenue generation hits $110b
The Nigerian Liquidfied Natural Gas (NLNG) said its revenue generation since 1999 has exceeded $110billion. Its Managing Director, Mr. Tony Attah, made this known…
Twitter ban may run us bankrupt — Entrepreneurs
Entrepreneurs across the country have decried the Federal Government’s suspension of the microblogging site, Twitter, in Nigeria, saying that their businesses are already on the line and they may go bankrupt soon.…
Banks Suspend Twitter Support For Products
Following Federal Government’s suspension of Twitter operation in Nigeria, some banks have followed suit by suspending the micro blogging platform’s support for their online…
Usual suspects and unknowns among winners of NNPC swap deals
The Nigerian state-owned company has published the list of firms who will get crude oil in exchange for petroleum products. As usual, established companies rub…
Finally, Dangote Fertiliser commences production of Urea
… Hits Market Monday To the admiration of key financial sector operators present, the Dangote Fertilizer Limited announced yesterday the formal commencement of production of Urea in…
World Environment Day – FCMB Restates Commitment to Environmental Sustainability; Expands…
First City Monument Bank (FCMB), has re-assured that it will continue to champion, execute and support initiatives that would enhance the ecosystem, as well as tackle some of the adverse effects of climate change and…
Local, foreign banks invested $10b in Dangote Refinery – Emefiele
Nigerian banks and their foreign counterparts invested between $9 billion and $10 billion in the Dangote Refinery, Fertilizer Plant and Petrochemical…
Mobile Networks, Not Banks Are Responsible for N6.98 Compulsory Payment For USSD Services
More light has been shed on the new payment suddenly enforced on the usage of USSD services by Nigerian banks customers. Several users were shocked some days ago when they received…