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Banks begin implementation of reduced charges
Some banks have commenced the implementation of the reduced bank charges as instructed by the regulator, the Central Bank of Nigeria, with effect from January 2020.While some banks have notified their…
22.3m subscribers decline SMS adverts from telcos
A report by the Nigerian Commission (NCC) has shown that 22.3 million telecom consumers have activated the do-not-disturb (DND) service on their telephone lines.…
MTN sells R14 billion assets
MTN said it has sold assets worth R14 billion in 2019. The sales come as part of MTN’s Asset Realisation Programme (ARP), which it announced in…
Aliko Dangote’s fortune increased by $4.3bn in 2019
…Worth $14.8bn, only African on top 100 world richest African richest man Aliko Dangote has significantly moved up in the World billionaires’ list…
CBN’s PMI shows manufacturing sector expanding
The Central Bank of Nigeria (CBN) has released the Purchasing Managers’ Index (PMI) for December 2019 showing rapid expansion in the manufacturing sector…
Nigerians want further cut as new bank charges commence
Bank customers across Nigerians yesterday enjoyed the new cut in bank charges for cash withdrawals and electronic transfers, Daily Trust reports.The CBN had on December 20, 2019 slashed bank charges across…
Airbus topples Boeing as world’s largest planemaker
Airbus has toppled embattled Boeing to become the world’s largest planemaker for the first time since 2011 after delivering a forecast-beating 863 aircraft…
NNPC records N13.23bn trade surplus in October
The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of ₦13.23billion in October 2019. This represented an increase of 54 per…
Electricity bills: End cash payment – FG orders Discos
The Federal Government has ordered power distribution companies to migrate to cashless settlement platforms with respect to the collection of electricity bills from residential, industrial and commercial…
Oil dips marginally, on track for biggest rise
Oil prices edged lower on the last trading day of the decade on Tuesday. It is however still on track for monthly and annual gains, supported…
Nigeria’s diaspora remittances hit $25 billion
The Federal Government on Tuesday said Nigerians in the Diaspora remitted approximately $25 billion into…
Dangote Strikes Crude Oil Deal with Indonesian Oil Company
After settling well into marital life, Mohammed, billionaire Aliko Dangote’s nephew, is also finding his feet in the international oil industry. The young man, whose…
Turkish Airlines pockets $225m from Boeing over grounded 737 Max
Turkish Airlines has received $225million in compensation from Boeing to cover losses incurred over the U.S. manufacturer’s grounded 737 MAX aircraft. The…
Huawei posts record profits in spite of U.S blacklisting
Chinese telecommunications giant Huawei Technologies flagged record profits for 2019 on Tuesday, despite a tumultuous year that has seen the U.S. and its…
Adoption of Eco: Nigeria will react at appropriate time — Minister
The Federal Government has said it is still studying the situation as eight West African countries, most of them French speaking, changed their currencies to Eco, the proposed single currency for…
The Secret Behind Amazon Package Delivery to West Africa
In a building on West 147th Street, the mail carriers know apartment 1A.Boxes arrive at all hours, ordered from websites around the world. Throw pillows, diapers, car parts, cellphones, high…
Telecom giant MTN accused of paying bribes to Taliban, al-Qaeda
Africa's largest mobile operator MTN says it is reviewing allegations that it paid protection money to militant Islamist groups in Afghanistan.The allegations, made in a legal complaint filed in a US federal…
Banks Assets Rise By 10% To N41.4 Trillion In 12 Months
The total assets of the 27 deposit money banks rose by 10 per cent, year-on-year to N41.4 trillion in the 12…
2020: Economy Set to Ride on Non-oil Sector for Growth
The prospects for economic growth in 2020 seem bright, but the growth is expected to be fragile. As it was the case in 2019, non-oil sector driven by agriculture, ICT and manufacturing among…
NLNG alumni give kudos to Buhari government for NLNG Train 7
Nigeria LNG Limited’s Alumni Association has given the Buhari administration a pat on the back for achieving today’s Final Investment Decision (FID) on…
Sanwo-Olu presents N250m seed cheque for Tech start-ups
As part of plans to make Lagos State a hub for innovation and technology, Lagos State Governor, Babajide Sanwo-Olu on Friday, presented a seed fund of N250 million to Lagos…
Where CBN erred on new bank charges, by telcos
• ‘USSD services cannot be offered for free to banks’ • Minister, NECA, others laud charges slash Days after the Central Bank of Nigeria (CBN) reduced bank charges, telecommunications operators…
Unused power: GenCos lost N1.2trn in 5 years
About 24 power Generating Companies (GenCos) lost N1.19 trillion on electricity capacity not paid for in the Nigerian Electricity Market in the last five years.Records of loses on the stranded power generation…
NLNG takes final investment decision on $10bn Train 7 project
Shareholders of the Nigeria LNG Limited have taken the long-awaited final investment decision on the company’s Train 7 project.The NLNG made the announcement on Friday via its Twitter handle.The NLNG is…