Sign in
Sign in
Recover your password.
A password will be e-mailed to you.
Browsing Category
Business
Spotify premium subscriber count increases to 158 million
Spotify now boasts 158 million premium subscribers and 356 million monthly active users, according to its latest earnings report released today. That’s a 21 percent and 24 percent year-over-year increase, respectively. It’s…
Dangote Cement increases capacity to meet demand surge
In a response to the growing demand, Dangote Cement Plc is poised to raise capacity by more than a third to meet the escalating demand as the Nigerian…
CBN Queries First Bank as CEO is ‘Purportedly Ousted’
•Says bank under forbearance, liquidity support can’t remove helmsman without approval
•Shareholders weigh options, Otudeko, Odukale and Adenuga in battle for control
The Central Bank of…
FCMB’s Priceless Gift of Sight: Over 300,000 Nigerians with Eye Defects Benefit
First City Monument Bank (www.fcmb.com), in partnership with Tulsi Chanrai Foundation (TCF) of India, has so far carried out free eye…
Nigeria now our biggest market – Crypto trading platform
Paxful, a global peer-to-peer fintech, has said Nigeria is now its biggest market with a volume of $1.5bn.
It disclosed this on Tuesday in a statement, titled ‘Nigeria emerges as Paxful’s biggest market, hits $1.5bn…
BREAKING: First Bank appoints Gbenga Shobo as MD/CEO designate, Abdullahi Ibrahim as DMD
The Board of First Bank of Nigeria at its meeting on Wednesday, approved the appointment of Mr Gbenga Shobo, currently Deputy Managing Director, as Managing Director…
Nigeria’s Flutterwave makes TIME’s 100 Most Influential Companies
Flutterwave, a Nigerian fintech firm, has been named a “Pioneer” on TIME’s 2021 list of the 100 Most Influential Companies in the World.…
Banks electronic transfers hit N356.47tr
The National Bureau of Statistics (NBS) yesterday said in the Fourth Quarter (Q4) 2020, total transactions recorded through Electronic Payment Channels…
Commercial banks’ loan exposure to government hits N1.8 trillion
The total commercial loans to the government, at all levels, rose to N1.77 trillion at the close of last year, about 18 per cent increase from the N1.5 trillion reported in December 2019.
This comes as the…
Investment in Bitcoin prone to fraud – EFCC warns
The Economic and Financial Crimes Commission on Monday warned Nigerians to be cautious before investing in Bitcoin.
The anti-graft agency explained that due to the unregulated nature of the cryptocurrency market, investments…
IBEDC generates N7bn monthly — Official
Ibadan Electricity Distribution Company (IBEDC) says it generates over N7 billion revenue monthly from its coverage areas.
The Chief Technical Officer of IBEDC, Mr Akin Abiodun, disclosed this on Saturday during the…
Crypto: Bitcoin, Ether, XRP, Dogecoin sink over Biden tax plans
Bitcoin and other cryptocurrencies posted sharp losses on Friday, on concerns that United States President Joe Biden’s plan to raise capital gains taxes will curb investments in digital assets.
News reports on Thursday said…
Dangote buys 400 trucks from ANAMMCO plant in Enugu
The Dangote Group has purchased 400 Shacman trucks assembled at the Anambra Motor Manufacturing Company (ANAMMCO) plant in Enugu state.
In a statement on its website, Shacman Nigeria said Dangote Group has bought over 3,500…
Crypto market loses billions of dollars as Bitcoin drops below $50,000
The value of the cryptocurrency market stood at $1.81 trillion on Friday, a 10.26 percent drop over the last day, according to data from coinmarketcap.com.
CNBC reports that over $200 billion of value has been wiped from…
Nigerians exceed IMF’s 30% dollar deposits threshold
Dollar deposit by Nigerians in banks has exceeded the 30 per cent threshold approved by International Monetary Fund (IMF), a Central Bank of Nigeria (CBN) report has…
GTBank Releases Q1 2021 Unaudited Results, Reports Profit Before Tax Of N53.7bn
Guaranty Trust Bank plc has released its unaudited Financial Results for the period ended March 31, 2021, to the Nigerian and London Stock…
Shareholders Applaud FCMB, Approve Dividend of N2.97bn at AGM
Shareholders of FCMB Group Plc (www.fcmbgroup.com) have restated their confidence in the financial institution to sustain its impressive…
Senate moves to cut cement prices
A move to cut the skyrocketing costs of cement began yesterday at the National Assembly. The Senate urged the Federal Government to introduce liberal policies to stimulate more investment in the manufacturing of…
CBN boosts non-oil export with N500 billion facility
The Central Bank of Nigeria (CBN) has set up a N500 billion non-oil export stimulation facility with the Nigerian Export Import Bank (NEXIM) to enable exporters process agriculture commodities into other markets in…
Covid sends global wine consumption to lowest level since 2002
Wine drinking worldwide fell last year to its lowest level since 2002 as bars and restaurants shut their doors and tourism travel dried up amid the coronavirus pandemic, a trade body reported Tuesday.
Overall consumption…
Coca-Cola will raise prices to offset higher commodity costs, first increase since 2018
Coca-Cola will raise prices on its drinks to combat the impact of higher commodity costs, its CEO told CNBC on Monday.
The beverage company joins a number of other consumer giants, such as Kimberly-Clark and J.M.…
Britain mulls digital currency Britcoin. It’s not Bitcoin
British finance minister Rishi Sunak told the Bank of England on Monday to look at the case for a new “Britcoin”, or central bank-backed digital currency, aimed at…
Access Bank buys BancABC of Botswana with cash
Nigeria’s Access Bank has agreed to buy a majority stake in BancABC, the African Banking Corporation of Botswana for cash.
The new acquisition comes a month after the Nigerian bank…
Foreign reserves gain $620m from remittances
After gaining $620 million from diaspora remittances in two weeks, the foreign exchange reserves jumped to $35.026 billion, a data from the Central Bank of Nigeria…