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Business
Firm to begin gold exportation from Osun in June – Minister
Minister of Mines and Steel Development, Olamilekan Adegbite, says the Nigerian-Canadian company mining gold in Nigeria’s Osun State is to start exporting the precious metal in June this year. Mr. Adegbite made the…
Mike Tyson Earns $500,000 Per Month From Marijuana Business
After retiring from boxing, Mike Tyson has dedicated time to his own businesses, one of which has to do with cannabis plantation. His company is called ‘Tyson…
Warren Buffet’s Berkshire Hathaway makes higher profit
Warren Buffett’s Berkshire Hathaway Inc on Saturday said improved results from its insurance businesses and soaring prices of stocks such as Apple Inc led to a nearly $36…
StarTimes faces “winding-up” order over $11million debt
StarTimes, the Chinese-owned Pay-TV operator with tentacles across Africa, is at “serious risk” of receiving a court-mandated “winding-up” order over US $11million debt.…
Dangote Refinery to buy Nigerian crude in Naira, sell petrol in Naira
The Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, said Dangote Refinery would buy Nigeria’s crude oil in Naira and also sell petrol to Nigeria in naira when it…
TY Danjuma: The retired military general who made Forbes richest list
It is not every day you come across a retired Military General who remains in the limelight more than four decades after retiring from active service and for reasons totally unconnected to the military…
British Airways loses €7.4bn to COVID-19
International Airlines Group, British Airways, has announced the biggest loss in its history as the COVID-19 pandemic closed borders and grounded its aircraft. The airline group,…
Cryptocurrencies should be regulated, not prohibited – Osinbajo tells CBN
Nigeria’s vice president Yemi Osinbajo Friday called for the regulation of cryptocurrencies in the country, as against the prohibition of digital currencies.…
FG Seeks Asset Manager for N15tn Infraco Fund
•PwC, KPMG, others apply to be transaction advisers The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion…
Indian billionaire says the country’s regulators need to ‘step in and ban bitcoin’
Indian billionaire investor Rakesh Jhunjhunwala said the country's regulators should ban cryptocurrencies such as bitcoin. The investor, sometimes referred to as India's Warren Buffett, said he "will never…
Bitcoin drops 17% after Elon Musk’s comment on valuation
Bitcoin, world’s biggest cryptocurrency, plummeted as much as 17 per cent on Tuesday, with prices tumbling below $50,000 as investors grew nervous…
Dangote Refinery Set to Sell First Oil in Early 2022
Having crossed all hurdles, the 650,000 barrels a day Dangote refinery an integrated refinery and petrochemical project under construction in the Lekki Free Zone near Lagos, will commence full production by early 2022. It is…
BREAKING: CBN, NFIU reverse $3m Cryptocurrency fraud
The Central Bank of Nigeria and the Nigerian Financial Intelligence Unit has reversed a $3 million fraud back to a country. The fraud was perpetuated…
Elon Musk loses $15 billion, world title as richest man
Tesla CEO Elon Musk has been toppled as the world’s richest person after losing US$15.2 billion from his net worth in one day. A tweet by Musk made Tesla shares…
FCMB, Stanbic lead biggest banks stock return in 5yrs
Some banks listed on the Nigerian Stock Exchange (NSE) have been able to weather the storm of two economic recessions and an ongoing pandemic with their stocks returning 100 percent or more in the last five years.These…
Jay-Z Sells Half His Champagne Brand To LVMH’s Moet Hennessy
Moet Hennessy, the wine and spirits division of luxury conglomerate LVMH, announced Monday the purchase of a 50% stake in rapper Jay-Z’s champagne brand, Armand de Brignac.…
Universal One begins 576 apartments in Alaro City
Prospective homeowners in Lagos have received a boost in their options for modern, family-friendly homes with the start of sales of 576-unit apartment complex at…
Court Sets aside Order Seizing Jimoh Ibrahim’s Assets over Alleged 69.4bn Debt
Justice Okon Abang of a Federal High Court in Abuja on Monday set aside his order made on January 4, directing the Asset Management Corporation of Nigeria (AMCON) to take over the assets belonging to a businessman,…
Court Orders AMCON to Unfreeze NCC Director, Others’ Bank Accounts
Justice Muslim Sule Hassan of the Federal High Court in Lagos has set aside an ex-parte order freezing the bank accounts of a member of the Board of the Nigerian Communications Commission (NCC), Mr. Clement…
30 per cent duty waiver on mass transit vehicles begins
President Muhammadu Buhari has granted a 30 per cent import duty reduction on passenger transport vehicles. The import duty reprieve covers aviation engines and spare parts and takes immediate…
Dangote boss hinges business success on effective stakeholders’ management
The Group Managing Director of Dangote Industries Limited, Olakunle Alake has hinged success of business organisations on the adoption and implementation of effective stakeholders’ management…
NCC allocates 382.9m new telephone numbers to telecom operators
Nigerian Communications Commission (NCC) has allocated 382.94 million new telephone numbers for telecommunications operators across the country. This was contained in NCC’s national numbering plan (NNP) for the first…
Apple ‘developing’ magnetic battery pack for iPhone
Apple is reportedly developing a new iPhone charging accessory in the form of a battery pack that magnetically attaches to the rear of the device using MagSafe, Bloomberg reports. Although some prototypes have a rubber…
Bitcoin market cap nears $1 trillion
Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an…