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Business
Amazon share of digital advertising market on the rise
Online retail colossus Amazon is gaining ground in the US digital advertising market as the dominance of Google and Facebook erodes, according to an eMarketer forecast released on Wednesday. The market tracker predicted that Amazon…
N5.87b fine: CBN reviews new evidence from banks, MTN
The Central Bank of Nigeria (CBN) is reviewing new evidence from four banks and MTN Nigeria over the sanctions slammed on them by the regulator, it was learnt yesterday. The banks – Standard Chartered Bank, Stanbic-IBTC, Citibank and…
Coca Cola’s interest in cannabis presents export opportunities for Nigeria
World’s leading carbonated soft drink maker, Coca-Cola Co., said it has developed an interest in the cannabis drinks market and wants to take advantage of it with hopes of supplementing its declining sales. This could present an immense…
1,000 local firms apply for railway contracts
At least 1,000 indigenous companies have submitted applications for various railway contracts in the 2018 fiscal year, the Nigerian Railway Corporation has said. The contractors prospecting for different railway projects were unveiled on…
FG suspends national carrier project
The Federal Government of Nigeria has announced the suspension of the national carrier project. The decision was disclosed by the Minister of State for Aviation, Senator Hadi Sirika at his office in Abuja The Minister who said the…
FG to rake in N17b from sale of 21 percent of NSPM
The sale of 21 percent shares of the Federal Government in the Nigerian Security Printing and Minting (NSPM) Plc to the Central Bank of Nigeria (CBN) will contribute over N17 billion to the national treasury, Director General of the…
$100 million debts delay takeover of 9mobile – NCC
Fresh facts have emerged on why the sale of 9mobile still lingers despite the declaration of Teleology Holdings Limited as the preferred bidder by Barclays Africa, the financial adviser handling the sale. The Executive Vice Chairman…
NNPC chief offers reasons for contractor-financing of pipeline projects
The Nigerian National Petroleum Corporation (NNPC) has explained why it has resorted to contractor-financing of its pipeline and other facilities development in recent times. Delivering the keynote speech at the Nigerian…
Forex: CBN intervenes again with $210m
The Central Bank of Nigeria (CBN) has again intervened in the inter-bank Foreign Exchange Market to the tune of $210 million. According to the figures obtained from the CBN on Tuesday, September 18, 2018, the Bank offered $100million…
Gov. Ajimobi shuts down Obasanjo farms, University Press
Oyo State Government is not leaving any stone unturned in its aggressive tax drive as it has continued to shut down major business outfits that are defaulting in the payment of taxes. Among the companies shut down today is Obasanjo…
This 26-year-old Nigerian is now the highest paid robotics engineer in the world
A 26-year-old Nigerian, credited for building the world’s first gaming robot, has just become the highest paid in the field of Robotic engineering. Silas Adekunle achieved this feat after signing a new deal with the world’s…
Coca-Cola In ‘Serious Talks’ About Infusing Marijuana Into Beverages
The Coca-Cola Company is said to be in "serious talks" with Aurora Cannabis Inc., on the possibility of developing marijuana-infused beverages. According to BNN Bloomberg, Coca-Cola, the world’s largest beverage company, is looking into…
Africa’s Multi-millionaires Hit 7,100
There are 7,100 multi-millionaires living in Africa, each with net assets of $10 million or more. There are over 320 centi-millionaires, each with net assets of $100 million or more; and 24 billionaires each with net assets of $1 billion…
CBN says banks will pay N10,000 fine if money transfer exceeds four minutes
The Central Bank of Nigeria (CBN) says banks will pay a fine of N10,000 for every money transfer that exceeds four minutes. The apex bank made this known in a circular, ‘Circular on the regulation on instant inter-bank electronic…
Apple iPhone Xs vs. iPhone X: What difference does a year make?
Apple has a new range of iPhone models for 2018 and has announced them during a special event held at its futuristic Apple Campus in Cupertino, California. Rumors were rampant ahead of the event, telling us that we should expect three…
NLC demands probe, recovery of $10.13bn from MTN
The Nigeria Labour Congress (NLC) has called on the Federal Government to ensure that the telecommunication giant, MTN Nigeria, complies with its directive and pay without delay, the $2 billion tax arrears as well as the $8.13 billion…
We won’t rest until HSBC returns our money – EFCC
Following the Presidency’s report that HSBC aided past Nigerian leaders to loot the country, the Economic and Financial Crimes Commission, EFCC, Sunday agreed with Presidency’s statement and vowed to repatriate all stole money. In a…
EFCC officials storm head office of Standard Chartered Bank
Officials of the Economic and Financial Crimes Commission (EFCC) stormed the headquarters of Standard Chartered Bank in Lagos on Friday. A source at the bank confirmed this to TheCable, saying some customers were escorted out of the…
BREAKING: Nigeria’s inflation rises for the first time after 18 months decline
Nigeria’s inflation has risen for the first since it started its decline in January 2017. This is according to the latest inflation report published by the National Bureau of Statistics on Friday. According to the report, the rate…
Air Peace Makes History, Orders 10 New B737 MAX Planes from Boeing
Nigeria’s leading carrier, Air Peace, friday signed an agreement with Boeing for the acquisition of 10 new 737 MAX 8 aircraft, making history as the first airline in West Africa to add the equipment to its fleet. Air Peace already…
$8.1bn MTN Proceeds: FG Insists Firm Must Play By Rules
The Federal Government has said it doesn’t want MTN Nigeria to die but that it must abide by the rules and regulations guiding business transactions in the country. This is coming just as Standard Chartered Bank Nigeria Limited said…
Dual sim, no home button… Here’s what the new N539k iPhone offers
Apple unveiled new versions of the iPhone on Wednesday at its headquarters in Cupertino, California. It is customary for the company to announce new versions of its products in September. The new iPhone Xr and Xs will be sold at…
South Africa expresses willingness to intercede on behalf of MTN again
MTN Communications Limited, could as a last resort reach out to the South African government to explore diplomatic ties, in a bid to resolve its issues with the Nigerian government. South Africa’s Telecommunications Minister Siyabonga …
AlphaBeta responds to allegation of money laundering
AlphaBeta Consulting LLP has reacted to an allegation of money laundering levelled against the company and its Managing Director, Mr. Akin Doherty by Mr. Dapo Apara, an ex-staff of the company. In a swift response to the allegation,…