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Elon Musk now richer than Warren Buffett
South Africa-born Tesla founder Elon Musk is now richer than the Oracle of Omaha, Warren Buffett. Elon Musk, the SpaceX man rocketed past Buffett after his Tesla stock surged 10.8%…
NSIA to increase exposure to local investments
The Nigerian Sovereign Investment Authority (NSIA) says it will increase the quota of funds it invests locally from 40 percent to 50 percent. Uche Orji (pictured), NSIA managing director,…
Unease in GTBank… Who Takes Over From Segun Agbaje as Retirement Looms?
…How he is fighting high profile debtors head on The clock is fast ticking. Years have gradually thinned into months and now, weeks. By 2021, Segun Agbaje would statutorily cease…
Actor Robert de Niro suffers financial loss due to COVID-19
American actor, Robert de Niro has revealed that he is suffering financial losses due to the coronavirus (COVID-19) pandemic. The 76-year-old movie star had to even cut…
South Africa’s Borrowing Costs Now Surpass Nigeria’s
South Africa now pays more than Nigeria to borrow in local currency. This, according to a report by Bloomberg, is a sign of South Africa’s fiscal woes as for the first time…
Nigeria Stock Exchange warns investors on shares of 13 firms
The Nigerian Stock Exchange (NSE) has urged investors to trade with caution on the shares of 13 companies for failing to submit financial statements without any explanation. Newsmen report that the affected companies include Aso…
Face mask can cause failed ATM transactions – Banks
Banks have advised customers to remove their face masks when carrying out transactions through Automated Teller Machines to ensure that their faces are properly recognised. Findings revealed…
Access Bank begins acquisition talks with another bank
Nigerian lender, Access Bank Plc, is planning to acquire another financial institution as part of its aggressive expansion drive. The company, which intends to be one of the biggest banks in…
Dollar falls as China’s yuan leads
The dollar fell against most currencies on Thursday as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S.…
Segun Agbaje elected into PepsiCo Board of directors
Segun Agbaje, the Managing Director of Guaranty Trust Bank of Nigeria has been elected as an independent member of the Board of Directors of PepsiCo, the American owners of popular…
FCMB, SME.NG and WFW Group Urge Women to take the Lead in Driving Growth of Businesses and…
Women in Nigeria have been urged to play a more active and frontal role to stimulate the growth of businesses and overall development. In addition, they have been advised to pursue …
FIRS extends tax debt payments to August 31
The Federal Inland Revenue Service (FIRS) has extended the closing date of its waiver of penalty and interest window on tax debts owned by individuals and businesses from June 30, 2020 to…
With N381/$1 Exchange Rate Adjustment, FG, States Get More Cash
The adjustment of the official naira exchange rate from N361/$ to N381/$ by the Central Bank of Nigeria (CBN) means that the three tiers of government will have more naira to…
Official exchange rate may hit N430/$ – Report
The nation’s official exchange rate may fall to N430 to the dollar by the end of 2020, United Capital Plc, a pan-African investment banking and financial services group, said on…
Indonesia imposes 10% VAT on Amazon, Google, Netflix, Spotify
Indonesia imposed a 10 per cent Value-Added Tax (VAT) on sales by technology firms including Amazon, Netflix, Spotify and Google on Tuesday, as spending patterns shift…
Analysts predict outlook for naira as forex unification plans gain momentum
The exchange rate between the naira and dollar may move in the positive for Nigeria’s local currency, according to views of a cross section of traders and analysts interviewed…
GSK, Sanofi to agree $624 million deal with UK for COVID-19 vaccine
British and French pharmaceutical giants, GlaxoSmithKline (GSK) and Sanofi are close to reaching a $624 million (500 million pounds) deal with the United Kingdom (UK)…
Fidelity Bank appoints Chike-Obi as chair
Fidelity Bank Plc has appointed Mustafa Chike-Obi as its Chairman following the resignation of Ernest Ebi, who held the position. The bank’s board also announced that Seni Adetu, who has…
In Pursuit of Convergence, CBN Adjusts Official FX Rate Towards Market-led I&E
.........Official SMIS window moves to N380/$1 as I&E window trades at N386/$1 The Central Bank of Nigeria (CBN) yesterday took another step towards unifying the naira exchange rate by adjusting the rate at the…
COVID-19: How China produced ’70bn face masks’ in three months
On March 3, 2020, in the wake of the coronavirus pandemic, the World Health Organisation (WHO) expressed concern about how shortage of personal protective equipment (PPE), including masks,…
FIRS introduces stamp duty for rent agreements, C of O
The Federal Inland Revenue Service (FIRS) says stamp duty will now be paid on house rent and certificate of occupancy (C of O). Abdullahi Ahmad, director of FIRS communications and…
So Sad, Oil Mogul, Festus Fadeyi, Loses Company, Pan Ocean, to AMCON over N240bn Debt
Former billionaire, Festus Fadeyi has gotten to that threshold in a man’s life when brooding tragedy and its dark shadows can only be lightened by recalling great moments of the past. Yes,…
From Cleaning to Military Deals! How Tokunbo Ogundeyin is Cleaning out with Multi-Billion Dollar…
Yes, Tokunbo Ogundeyin, the head honcho of Proforce, is a dandy soul. Beneath his expensive suits and unassuming demeanour lies a posh and groovy character. But despite his inclinations for…
Marginal Fields Bid: Gbajabiamila, Senate President, President Aides, Sarki Abba, Tunde Sabiu,…
Junior oil firms flocked in their hundreds to bid for one of the 57 marginal fields put up for sale by the Abuja authorities to avoid a financial debacle as the Covid-19 crisis continues. Nearly 600…