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BREAKING: CBN sacks ALL directors of First Bank Holdings, reinstates Sola Adeduntan as MD
The Central Bank of Nigeria (CBN) has reinstated Sola Adeduntan as the managing director and chief executive officer of First Bank of Nigeria Limited.
Godwin…
Samsung posts 46.3% jump in profit on strong smartphone sales
South Korean tech giant Samsung Electronics posted a 46.3 percent rise in first-quarter net profits on Thursday, largely driven by robust sales of its smartphones.
Samsung Electronics is the flagship…
Tesla makes more profit from Bitcoin than car sales
Tesla’s first quarter earnings report released on Monday showed that the company sold off 10 per cent of its Bitcoin holdings. It made $272m in proceeds and $101m in profit from Bitcoin.
The car maker made more money from…
Segun Agbaje’s Successor: Friends, Colleagues Push for Mariam Olusanya as the New CEO of GTB
…Ademola Odeyemi waiting in the wings
As the tenure of Segun Agbaje, the Group Managing Director/Chief Executive Officer of Guaranty Trust Bank, winds up…
Airtel Africa appoints Olusegun Ogunsanya as CEO
Airtel Africa Plc has announced the appointment of the Managing Director and Chief Executive Officer of Airtel Nigeria, Olusegun Ogunsanya, as MD/CEO of the Airtel Group.
He…
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…