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BREAKING: Nigeria’s inflation rate increases to 34.19%
Nigeria’s inflation rate rose to 34.19 percent in June 2024 — up from 33.95 percent in May. The data is captured in the National Bureau of…
Amid economic headwinds, developers, investors turn to mixed-use schemes
The economic reality is reshaping the real estate landscape with developers and investors alike becoming more flexible and fast paying attention to mixed-use schemes. The attendant return on investment and…
Cryptocurrency fraudsters smile to banks as victims lament
The rapid growth of the cryptocurrency market has brought with it a surge in scams targeting unsuspecting investors. Crypto robbers armed with anonymity and sly tactics are defrauding people of their hard-earned…
Nigeria generator dealers struggle with low patronage as 11kV gen hits N750,000 in Lagos, Abuja
In the bustling outskirts of Lagos and the heart of Nigeria’s capital, Abuja, where power outages are a daily hassle, self-servicing generators have been a practical solution for households, small businesses,…
Dangote lists refinery shares March, supplies petrol August
•Dangote eyes fertiliser supply to African countries in two weeks, plans 70% of group’s revenue in forex The President and Chief Executive Officer of Dangote Industries Limited, Alhaji Aliko Dangote, has…
NNPC reveals why stake in Dangote refinery was reduced to 7.2%
The Nigerian National Petroleum Company (NNPC) Limited says its decision to limit its equity participation in the Dangote Petroleum Refinery was made months ago. In a statement on Sunday, Femi Soneye, NNPC’s…
BREAKING: NNPC no longer owns 20% of Dangote Refinery, says Aliko Dangote
The Chief Executive Officer (CEO) of Dangote Refinery, Aliko Dangote, has revealed that the Nigerian National Petroleum Corporation (NNPC) Limited no longer owns a 20% stake in Dangote Refinery. Dangote disclosed this…
Dangote Refinery Resolves Crude Supply Issues, To Roll Out Petrol In August
President of the Dangote Refinery, Alhaji Aliko Dangote, says the refinery is now set to roll out its petrol from August 2024, having resolved its crude oil supply issues through the help of the Nigeria National…
Binance Tax Evasion Trial Fixed For October
A High Court in Abuja has scheduled October for verdict in the tax evasion trial against Binance, a cryptocurrency exchange. The trial is billed to commence on October 11. Binance is facing four counts of tax…
Dangote Refinery seeks fresh 11 million barrels US oil amid Nigeria’s struggles
The Dangote Refinery has announced plans to acquire an additional 11 million barrels of crude oil from the United States, in a move that…
Monetary policy rate hikes stabilised the economy — Cardoso
Olayemi Cardoso, the Governor of the Central Bank of Nigeria, has said that the Monetary Policy Committee’s hikes in interest rates were…
FCMB, Tulsi Chanrai Foundation Mark 15 Years of Restoring Sight to 400,000 Nigerians
First City Monument Bank (FCMB) and its implementation partner, the Tulsi Chanrai Foundation (TCF), are marking a significant milestone: 15 years…
FG reaches agreement with oil producers on supply of crude oil to local refineries
The federal government, through the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), has reached an agreement with producers to permit the sale of crude oil to domestic refiners at market prices. This…
Microcredit: FCMB Supports Rotary Club of Lagos to Empower 200 Widows
First City Monument Bank (FCMB) has announced its support for a service project by the Rotary Club of Lagos, District 9112, to empower over 200 widows through…
Concerns as NNPCL seeks fresh $2bn crude-for-cash loan amid fuel scarcity
The Nigerian National Petroleum Company Limited, NNPCL, is planning to secure a fresh $2 billion oil-backed prepayment loan amid fuel scarcity in the country. This is according to a report by Reuters on Tuesday,…
Federal Palace Hotel owners report N31.6 billion losses in 2023, as shareholders’ funds wiped out
Tourist Company of Nigeria Plc, the owners of Federal Palace Hotel have reported a loss before tax of about N31.6 billion for the financial year ended December 2023. The company’s losses increased by almost…
Fear over illicit flow to banks as shareholders struggle with rights
Shareholders have raised the alarm over possible hijacking of the bank recapitalisation process by ‘money bags’, who have no genuine intentions for the industry’s growth. This comes as existing shareholders…
We Paid N543.9 Billion Tax To Nigerian Government In 2023 – MTN
MTN Nigeria Communication Plc. said it paid the sum of N543.9 billion in taxes and levies to the Nigerian government in 2023. The company disclosed this in its 2023 sustainability report released over the weekend,…
Dangote Cement Okpella commits to development, social support for Host Communities
…signs epochal Development Agreement with Okpella Communities Management of Dangote Cement, Okpella has signed a development and social support…
Why Tomato Prices Are On Fire — Farmers, Stakeholders
…FG Should Open Borders, Subsidise Fertilisers — MBF, Northern Youths The reasons for the current high prices of tomatoes, according to farmers, can be traced to high cost of inputs, insecurity, tuta…
Dangote Refinery capable of solving Nigeria’s forex problems; catalysing economic devt, says…
… As Dangote reassures on the commencement of petrol production this July International financial analytics corporation, S&P Global, has described the 650,000…
Hackers steal $664m from crypto investors in six months – DefiLlama
Crypto investors lost $664m to hackers in the first half of the year, marking a more than 50 per cent increase compared to the same period last year, according to data from DefiLlama. The largest aggregator…
CAC extends PoS registration deadline to September 5
The Corporate Affairs Commission has announced the approval to extend the mandatory Point of Sales agents, super agents and sole agents registration to September 5th, 2024. The commission made the announcement in a…