Browsing Category
Business
NIRSAL debunks corruption allegation over handling of ABP, threatens litigation
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending has debunked reports that the Central Bank of Nigeria has suspended further disbursements to the agency over allegations of corruption in…
Billionaires list: Dangote, Adenuga, Rabiu’s wealth rises by $5.7bn
The combined net worth of three of Nigeria’s richest persons increased by $5.7bn in one year to $22.5bn, according to Forbes’ 2021 World’s Billionaires list. The…
DPR revokes Addax Petroleum oil mining licences
The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licences (OML) belonging to Addax Petroleum due to the non-development of the assets by the petroleum company. The affected assets are OML 123,…
Forbes officially declares Kim Kardashian a billionaire
American Reality TV star, Kim Kardashian has been officially declared a billionaire by Forbes magazine. The rating blog made the pronouncement on Tuesday, saying the media…
Demutualisation: Oscar Onyema Completes Tenure as NSE CEO, Transitions into Group CEO
Oscar N. Onyema, OON has now completed his tenure as the Chief Executive Officer (CEO) of The Nigerian Stock Exchange (NSE or The Exchange). In commemoration of his exemplary leadership, he was honoured with a…
NNPC, Tecnimont SpA sign contract for $1.5bn PH refinery rehabilitation
The Nigerian National Petroleum Corporation (NNPC) and Tecnimont SpA, an Italian engineering company, on Tuesday, signed the engineering procurement and construction (EPC) contract for the rehabilitation of the…
NIRSAL recovers 51 per cent of legacy loans
The Managing Director, Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) Aliyu Abdulhameed has recovered 51 per cent of legacy loans.…
LG announces shutdown of mobile phone business
The South Korean electronics manufacturer, LG Electronics officially announced the shutdown of its mobile division worldwide. According to a statement by the…
DISCOs’ debts to NBET hit over N500bn in one year
The indebtedness of the electricity distribution companies (DISCOS) to the Nigerian Bulk Electricity Trading Plc (NBET) has hit a record N510.53billion in the last 12…
Ekiti did not sell its shares in Wema Bank
The management of Wema Bank Plc has refuted media reports of purported sale of Ekiti state government shares in the bank. The bank in a statement by Funmilayo Falola, Head,…
Easter: Prices of perishables soar in Lagos markets
Two days to the Easter Celebration, prices of perishable food items have soared in major markets in Lagos, the News Agency of Nigeria (NAN) reports. A survey conducted by…
South Africa’s MTN, Looking to Build a Monopoly, Blocks Access to USSD Services for Nigerians
Fresh off its hiking of transfer charges on USSD and just over a year after the Nigerian government somewhat pardoned it for not paying over $2 billion in dodged taxes, MTN is looking to drive Nigerian SMEs who…
DBN Disburses N191.7bn In 2020 To SMEs
Development Bank of Nigeria (DBN) Plc, has disbursed N191.7bn to small- and medium-scale enterprises in 2020, representing 89 percent increase on the…
Microsoft wins $22b US military contract for augmented reality headgear
Microsoft has won a Pentagon contract for augmented reality headgear for soldiers worth $21.88 billion over the next decade, the company and the…
‘It’s contrary to principle of law’ — Eni kicks against retrial of OPL 245 case in Nigeria
Eni, an Italian oil and gas company, says there are no reasons for a new trial in Nigeria after an Italian court acquitted it of corruption charges in the…
Access Bank buys South Africa’s Grobank for $60m
Nigeria’s biggest lender Access Bank has bought a controlling stake in South Africa’s Grobank for around $60 million. The bank’s CEO Herbert Wigwe said Access will shore up Grobank’s capital. With the…
PayPal to let US users pay with Bitcoin, Ethereum, Litecoin from today
Online payment app PayPal has announced US customers can make payments with its “Checkout with Crypto” feature, rolling out today. After rolling out the ability for US users to directly buy and sell cryptocurrency…
Olam convenes agro experts to tackle local wheat supply gap
Olam, a foremost agribusiness and leading player in the wheat value-chain recently convened the first edition of the Olam Green Land Webinar series. Themed “Deepening the…
Visa to accept cryptocurrency for transactions
Visa Inc, an American multinational financial services corporation, announced on Monday that it will permit the use of the cryptocurrency USD Coin to settle transactions on its payment network, a move conceived to be the…
Seplat Blazes Trail, Issues Historic $650m Five-year Bond
Seplat Petroleum Development Company Plc (Seplat), a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), has…
Oil rises to $64 as ship blocks Suez Canal
The international oil benchmark, Brent crude, reversed its recent losses on Wednesday after a ship ran aground in the Suez Canal, and worries that the…
You can now buy a Tesla with Bitcoin – Elon Musk
Business magnate and CEO Tesla cars, Elon Musk, on Thursday announced that a Tesla vehicle can now be bought with the world’s most popular cryptocurrency, Bitcoin.…
Ex-Google staff, Dave Girouard becomes billionaire in 24 Hours
Forbes has announced Upstart Holdings’ co-founder and CEO, Dave Girouard who is also an ex-Google employee, as the latest tech expert to become a billionaire.…
Beneficiaries of our agric interventions have received N1.48trn – CBN
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the apex bank has disbursed N1.48 trillion to beneficiaries of its agricultural interventions. Emefiele provided a progress report of the CBN’s…