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Business
Court restrains DMO from paying Vine Oil N628m
A Federal High Court in Lagos on Saturday granted a Mareva Order restraining the Debt Management Office (DMO) from paying Vine Oil & Gas Ltd and a businessman, Ben…
SEC begins registration of ordinary nominee firms
Nigeria’s apex capital market regulator, Securities and Exchange Commission (SEC) has directed non-custodian firms holding securities for their actual owners to apply for…
Why CBN moved against cryptocurrency trading – Source
Trading in Cryptocurrencies is not backed by the Central Bank of Nigeria (CBN) Act which recognizes the naira as the only legal tender in the Nigerian financial system, an…
Cryptocurrency: Bureaux de change operators back CBN’s ban
The Association of Bureaux De Change Operators of Nigeria (ABCON) has given its backing to the Central Bank of Nigeria’s (CBN) policy mandating banks to close accounts belonging to cryptocurrency traders.Speaking…
Arewa, Ohaneze Youths, Others Back Emefiele on Crypto Ban
The Arewa Consultative Youth Movement, Ohanaeze Ndi Igbo Youth Movement, Oduduwa Youths and Middle Belt Youths have hailed the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele,…
Tinapa: ECOWAS Court orders Cross River government to pay $6.5 million debt
The ECOWAS Court of Justice on Friday ordered the Cross River Government to repay the sum of US$6,455,846 to the ECOWAS Bank for Investment and Development (EBID). The regional court also ordered the state government to pay an…
Atiku Abubakar condemns crypto ban, demands immediate reversal from CBN
Nigeria’s opposition politician Atiku Abubakar on Saturday condemned Friday’s decision to ban cryptocurrencies by the Central Bank of Nigeria. The CBN issued a directive to all Nigerian banks against conducting Bitcoin…
Stanbic IBTC Announces Executive Appointments Across The Group
Stanbic IBTC Holdings PLC , a member of Standard Bank Group, has announced several key executive appointments across the Group, in a bid to fortify its…
Amazon’s new chief says it’s not done making video games, despite problems
Amazon’s incoming CEO, Andy Jassy, says he’s committed to Amazon’s video game development efforts, in response to a damning report from Bloomberg last week about the problems facing the team. “Some businesses take off in the first…
Shell Declares $21.7 Billion Loss In 2020
Royal Dutch Shell dived into a net loss of $21.7 billion in 2020, the oil giant announced on Thursday, February 4, 2021, as the coronavirus pandemic slashed global energy demand. The Anglo-Dutch group’s net loss compared with…
COVID-19 vaccine: Lagos company invents “cold bike”
A company, Food Doctors Nigeria Limited (FDNL), said it has invented a “cold bike” to aide safe transportation and distribution of vaccines in Nigeria. The Team Lead of FDNL, Mr Awesu…
Jeff Bezos to step down as Amazon CEO
Jeff Bezos, founder of Amazon, says he will step down as the chief executive officer of the e-commerce company by the third quarter of 2021. Bezos will now occupy the role of executive chair in the company which he…
EU claims court errors in bid to overturn $15.7 billion Apple tax judgment
EU antitrust enforcers have claimed a court made legal errors when it scrapped their order for iPhone maker Apple to pay 13 billion euros ($15.7 billion) in Irish back taxes, in a filing to have the verdict overturned. The…
Toyota reclaims crown as world’s biggest car company
Toyota sold more vehicles in 2020 than any other car company, edging ahead of Volkswagen Group in a year dominated by the pandemic Toyota was the world’s best-selling…
NSE: Zenith Bank tops value-traded stocks as investors gain N1.1 trillion YTD
Activity chart of the Nigerian Stock Exchange (NSE) for the last trading session of the month, Friday January 29, showed Zenith Bank atop Most-Traded stocks with a total value of N1.2 trillion and transaction volume of…
Dogecoin, a cryptocurrency started as a joke, soars by over 800%
Dogecoin, a digital coin originally founded as a joke, has soared over 800% after a Reddit board talked about making it the cryptocurrency equivalent of GameStop.…
Fidelity Bank’s ‘The Payday Revolution’ Is Here
This is indeed a good year to be alive as greater days awaits in Fidelity Bank's 'The Payday Revolution. Register to attend the launch event and experience Fidelity Pay Yourself. Now you can pay yourself!…
Equities: Domestic investors outperformed foreigners by N709bn in 2020
Domestic investors seeking better returns, amid low yield environment in the fixed income market, outperformed their foreign counterpart by N709.7 billion in 2020.…
Boeing declares $12billion loss for 2020
Boeing has released its 2020 results and as expected, the net loss was humongous, with the planemaker recording a loss of almost $12 billion. In the fourth quarter alone, the company…
Top 11 items Nigeria imported at peak of COVID in 2020
Nigeria’s trade report for two quarters of 2020 has given an insight into the items the country spent most of its foreign exchange on as COVID-19 hammered the nation’s economy and shut businesses. The…
Stock Market Records N259bn Gain
The equities market of the Nigerian Stock Exchange (NSE) has sustained its positive momentum second time this week as the market capitalisation increased by N259.4…
Downstream Oil Sector and the Dangote Factor
The downstream end of Nigeria oil and gas industry has gone through various reforms these past two decades. The last, but on-going is the crude swap and its full support for the 20,000bpd refinery in Niger Republic; as the…
Diaspora Remittances Must be Paid in Foreign Currencies – CBN
The Central Bank of Nigeria (CBN) yesterday warned it would sanction International Transfer Operators (IMTOs) who fail to pay all remittances in foreign currencies. A circular signed by the apex bank’s director of Trade…
Bitcoin heads for worst weekly loss in months
Bitcoin wavered on Friday and was heading toward its sharpest weekly drop since September, as worries about over-regulation and its frothy rally drove a pullback from recent…