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Business
Seyi Tinubu acquires Sim Shagaya’s advertising company, E-Motion
Seyi Tinubu has acquired advertising company, E-Motion Advertising, founded by Sim Shagaya. Tinubu, an industry player in outdoor advertising, acquired E-Motion…
Petrol importation drops by 512 million litres in 3 months
Petrol importation in Nigeria drops by 512 million litres between June and September, this was disclosed in the latest National Bureau of Statistics (NBS) Petroleum…
Lagos rice mill to produce 650 bags of rice per hour
The Lagos State government has said that the Imota rice mill, when completed, will produce 650 bags of 50kg rice per hour. The Special Adviser to the Governor on…
Apple Inc. now bigger than Chevron, ExxonMobil, ConocoPhillips combined
Apple is now valued more than the entire US energy sector, according to analysts at Bank of America Merrill Lynch. The tech giant closed Thursday with a $1.17 trillion…
Central bank stabilises naira with $25.68 billion in eight months
The Central Bank of Nigeria injected about $25.68bn to stabilise the nation’s currency in the foreign exchange market between January and August this year. The $25.68bn was…
Nigeria, Benin, Niger set up committee on border reopening
Nigeria, the Republic of Benin and Niger, have established a joint border patrol team comprising the Police, Customs, Immigration of the tripartite countries to…
Senate seeks tax holiday for agriculture, mining investors
The Senate on Thursday urged the Federal Government grant tax holidays to investors in the solid minerals sector to enhance investment. It…
Ernst & Young, CBN, NDIC push for AMCON’s liquidation
Ernst & Young, (multinational financial advisory firm), the Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) are pushing to end the operation…
NSE: Investors gain N246bn
Nigerian stock market rose 1.91 per cent to a five-week high yesterday, boosted by demand for stocks in banking and other blue chip firms.The index, which is down 16 per cent so far this year, firmed up to a…
Why I flew 15 hours just to visit Nigeria – Jack Ma
Jack Ma, co-founder of Alibaba, Chinese e-commerce company, led a team of investors from his country to Nigeria on Thursday. Speaking when he met with Vice-President Yemi…
Marketers Set For Showdown As Customs Impounds Fuel Tankers
Petroleum products marketers under the aegis of Independent Petroleum Marketers Association on Nigeria (IPMAN), Lagos branch has launched a strong protest against the action of the Nigeria Customs Service…
Nigeria sticks to 1.7m barrels daily OPEC quota, says NNPC chief
NIGERIA is currently producing between 1.6 million and -1.7 million barrels per day (bpd) of crude oil, the Chief Operating Officer (COO) of the Nigerian National…
UK financial institution to put $5 billion to work in Nigeria, others
The United Kingdom development finance arm, CDC Group, is set to invest $5 billion in Nigeria and other African countries in a bid to create impact in line…
FCMB, Wakanow Seal Deal On Affordable Travel Package
Customers of First City Monument Bank (FCMB) who plan to travel abroad at highly convenient and affordable arrangements now have the opportunity to do so. This follows a new partnership between the top-rated…
Border closure: Producer vows to crash price of local rice
Paul Santus, Chairman and Chief Executive Officer, Santuscom Agro-Hub Investment Nigeria Limited, producer of Ogoja Rice, has vowed to crash the price of local rice ahead of…
Local rice floods major markets in Nigeria, as frozen food sellers lament low patronage
Locally-produced rice has gained huge momentum, as Nairametrics Research Team found out that various brands of local rice have now flooded major markets in the country. As a result, the…
FG to remove tax exemption on oil companies’ dividends
Dividends paid from the profits of oil companies will no longer be tax-exempt if the finance bill submitted by President Muhammadu Buhari is passed by the national assembly.…
Alibaba’s Singles’ Day sales top $38 billion
After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles’ Day,…
Nigeria’s Interswitch hits $1billion valuation with Visa investment
Nigeria’s digital payments firm Interswitch said Visa has acquired a minority equity stake in the firm, TechCrunch has reported. “The investment makes Interswitch one of the…
Nigerian banks assets, liabilities hit N39.58 trillion
The total assets and liabilities of commercial banks in Nigeria rose from N37.14tn at the end of November 2018 to N39.58tn as of the end of August 2019. The Central Bank of Nigeria…
Most Expensive Wristwatch In the World, Patek Philippe Grandmaster Chime Sold For N11b In…
The world's most expensive watch, a £24.2million Patek Philippe, has sold in Switzerland at a Christie's charity auction. The Patek Philippe Grandmaster Chime, one of the most complex timepieces ever crafted, was won by a private…
Banks attract $4.74bn foreign investments in six months
Banks attracted a total of $4.74bn foreign investment into the country in the first half of the year.Data obtained from the National Bureau of statistics showed that the amount of investment attracted by 22…
Video: Dangote rice mill springs up in Saminaka, Gov. Bagudu excited
Gov. Atiku Bagudu of Kebbi on Sunday commended Dangote Group for setting up a rice mill in the state, saying it would create employment and boost the economy.…
Customs in astonishing N1 trillion revenue hit
The Nigeria Customs Service (NCS) has generated revenue of about N1.002 trillion from January to September 2019. The data from the Department of Research and Statistics and…