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Business
This billionaire’s yacht is up for sale for $326 Million
Billionaires are often known for their lavish purchases which are beyond the reach of the common man, varying from islands to crazy trips and opulent modes of transportation. When it…
Russia’s Massive Gold Stash Is Now Worth More Than $100 Billion
Russia’s long-running bet on gold is looking better every month.The country quadrupled gold reserves in the past decade as it diversified away from U.S. assets, a move that has paid off recently as haven demand sent…
Top five banks post N417b profit in six months
Nigeria’s five topmost banks recorded a total profit of N416.55 billion in the first half of this year as a result of improved technology and an enhanced efficiency The average…
Abiodun gives free land to 2,000 farmers
Governor Dapo Abiodun has flagged off the Ogun State Anchor Borrowers’ Scheme, signalling the commencement of an agricultural revolution in the state. Speaking at the June 12 Cultural…
How US court freed NNPC from $2.7billion arbitration award
The NNPC has provided details of how United States Southern District Court of New York discharged it of liability to a $2.7 billion arbitration claim by ESSO Exploration and Production…
Jack Ma steps down from China’s Alibaba
Jack Ma, one of China’s richest men, will step down next week as chairman of Alibaba, but the start-up he built into an online retail behemoth is expected to keep thriving into a new era…
AMCON debts: How debtors used distressed firms to move N5trn loans abroad
PRELIMINARY investigation by a presidential panel put in place to recover the N5 trillion owed Nigerian banks by 20 influential citizens has reportedly revealed that most of the loans were being allegedly shipped…
Nigeria, S’Africa Agreement Forbids Nationalisation of Assets, Investments
Nigeria stands to incur a huge cost if it decides to nationalise South African businesses in Nigeria in retaliation against xenophobic attacks on its citizens living in South Africa. This is because there is a clause…
N2trn Investments Flow Into Nigeria In 3 Months
The flow of funds into Nigeria was down in the second quarter of the year as the total value of capital importation into Nigeria stood at $5.82 billion, equivalent to N2 trillion, in the second quarter of 2019, a…
P&ID $9.6 bn Debt: The Obasanjo, Military Connections
DANJUMA’S STAKES IN THE COMPANY REVEALED As the federal government moves to explore means to escape payment of the controversial $9.6 bn P&1D judgment debt, feelers emerging from…
LUCKY SAVE! Exxon Mobil, Shell lose $1.8bn suit against Nigeria in US
A court in the United States has declined to start an arbitration suit that could cost the Nigerian government at least $1.8 billion. In a 50-paged judgement document, William Pauley,…
Federal government to rake in N16 billion from automated train ticketing service
The Federal Government will rake in N16 billion in the next 10 years from an estimated rise in the sales of train service through automated ticketing platform, the…
Xenophobia: Value of MTN’s shares down by N30.5bn on NSE
The market capitalisation of shares belonging to MTN Nigeria on the Nigerian Stock Exchange dropped by N30.5 billion at the end of the trading on Wednesday. MTN’s shares, which opened…
Are DisCos technically bankrupt?
The electricity distribution companies (DisCos) are in need of funds, such that they cannot procure equipment let alone expand their networks to take loads and give Nigerians regular electricity.…
N205m lost to hoodlums as shop owners count losses
SHOP owners at the Novare Shopping Mall, Sangotedo, PEP Stores, Surulere in Lagos and MTN Office in Uyo, Akwa Ibom State, were counting their losses on Wednesday. It was in…
Is One of the World’s Biggest Lawsuits Built on a Sham?
The oilfield fires of the Niger Delta burn day and night. Metal pipes snake through the swampland, spewing flames so vast they cast the sky in apocalyptic orange. Southern Nigeria sits atop a bubbling stew of oil…
You won’t believe how much Jim Ovia made in just one day!
The Chairman of Zenith Bank Plc, Jim Ovia, is an astute businessman who has, over the years, successfully built many enterprises that can stand the test of time. His numerous…
Crude-for-fuel deal on till 2023, says NNPC
THE crude-for-fuel swap deal will continue because the refineries are not functional, the Nigerian National Petroleum Corporation (NNPC), explained on Monday. Group Managing Director (GMD) Mele…
I’ll pay my N537m debt in 12 hours – Duke begs court
A former Cross River State Governor Donald Duke on Monday told a Federal High Court in Lagos that he would pay his N537, 334,360.77 debts to Asset Management Corporation of Nigeria…
We are ready to start seizing Nigeria’s assets – P&ID
P&ID Ltd, the Irish firm that was awarded $9.6 billion in arbitration against Nigeria, says it will continue its efforts to identify and seize Nigerian assets “to satisfy the debt”.…
$9.6bn: 2 Nigerians, 3 Foreigners To Benefit From Fine (See Names)
Documents accessed by LEADERSHIP on the P&ID deal that has caused apprehension in Nigeria have showed that two Nigerians and three foreigners would benefit from the $9.6…
N100m concession agreement: Malami moves to avert another debacle
Attorney General and Minister of Justice, Mr Abubakar Malami (SAN), has advised against a summary termination of the $100 million concession agreement between Transmission Company of Nigeria (TCN) and Phase3 Telecom…
12 banks garner N24.3trn deposit in six months
Despite a harsh operating environment occasioned by the sluggish economy and increasing competition from Financial Technology (FinTech) companies, 12 Deposit Money Banks (DMBs) in the country raked in a total of N24.349…
NNPC Reports $226m Oil Revenue Drop in June
Earnings from oil and gas production in June were down by 44.65 per cent, indicating a value reduction of about $226.38 million between May and June 2019, data from the Nigerian National Petroleum Corporation (NNPC)…