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Business
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,…
Cristiano Ronaldo to open CR7 hotel in Paris
The Portuguese hotel group, Pestana, announced on Wednesday that they will open a new hotel in Paris with Cristiano Ronaldo’s name, Pestana CR7 Hotel, in which they have invested €60 million. The hotel is set to potentially open in 2021.…
Oil price nears $80, Nigeria’s output rises
International oil benchmark, Brent crude, extended its gains on Wednesday, trading near a two-month high as shrinking oil inventories pointed to an increasingly tight global market. The upturn in oil prices come as the United States’…
Who owns Apple and who are the biggest shareholders?
Apple has just become the first company to be valued at $1 trillion, which is triumphant or depressing depending on how you look at it. The company was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in April 1976, and went…
After China, FG Seeks Loan From Japan
The Federal Government, through the Ministry of Transportation, has urged Japan to follow in the footsteps of their Chinese counterpart, and partner Nigeria on concessioning loans. Rotimi Amaechi, Minister of Transport, stated this when…
DSTV Tariff Hike: Again, court rules against Multichoice
A judge, Nnamdi Dimgba, in Abuja has rejected an appeal by Multichoice Nigeria against an interim order prohibiting any increase in its DStv or GOtv subscription rates. Multichoice Nigeria had on August 24 filed an appeal against…
Alibaba, Russian tech firm Mail.ru agree joint e-commerce venture
Chinese e-commerce giant Alibaba and Russian technology group Mail.ru on Tuesday said they would launch a joint e-commerce venture in Russia and former Soviet countries. The deal comes as e-commerce is developing rapidly in Russia…
How FG, States, LGs shared N4trn in first half of 2018 [Breakdown]
Federal, states and local governments shared N3.95 trillion from the Federation Account within the first half of this year. The disbursements made by the Federation Accounts Allocation Committee (FAAC) represented an increase of 41%…
Bakers set to increase bread prices
The high cost of baking ingredients may push bread prices up, bakers have warned. The Premium Bread Makers Association of Nigeria gave this warning on Monday at a press briefing in Lagos. “The challenges we face as a result of…
NERC Directs DisCos To Refund Persons Unmetered Under CAPMI
The Nigerian Electricity Regulatory Commission (NERC) has ordered electricity distribution companies to refund monies paid by persons who did not receive meters under the scrapped Credited Advanced Payment for Metering Initiative…
Court dismisses BGL applications
…Definite hearing commences October 2 A Wuse Magistrate Court in Abuja has dismissed all applications brought before it by BGL Plc and her subsidiaries objecting to their trial before the court. Chief Magistrate, Chinyere…
Forbes ranks Rwanda, S’Africa over Nigeria on ‘investor protection’
Forbes has ranked Nigeria 3rd best in Africa in terms of “investor protection”. Rwanda and South Africa were rated above Nigeria on the African continent. A total of 153 countries were surveyed. The American business magazine…
$10.1b cash demand: MTN drags CBN, AGF to court
…Group CEO assures of amicable settlement MTN Nigeria Monday said in order to protect its assets and shareholder rights within the confines of the law, it has approached the Federal High Court for injunctive relief to restrain the…
Edo IGR hits N2bn monthly
…To abolish stop and search for vehicle particulars Edo State Internally Generated Revenue (IGR) has hit an average of N2bn monthly from N1.55bn in 2016 when Governor Godwin Obaseki was sworn-in. This represent 25 percent growth…
Nigerians pull out of bitcoin as cryptocurrencies crash
With a crash in the value of bitcoin last week, Nigerians are pulling back to cut down on their losses in the cryptocurrency market as their stake in the market declined dropping to N1.09 billion as against N1.51 billion which it was at…
We’re going after bank accounts of billionaire tax defaulters – FIRS
Tunde Fowler, chairman of Federal Inland Revenue Service (FIRS), says the service will soon go after the bank accounts of defaulting taxpayers who are billonaires. Fowler, who disclosed this at a stakeholders’ meeting in Lagos, said…
Why we are giving N10,000 collateral free loans – Presidency
The presidency said yesterday that the President Muhammadu Buhari administration would intensify efforts to empower Nigerians economically, as it continues to launch the TraderMoni N10,000 collateral free loans for petty traders. The…
Diamond Bank confirms deduction of N250 million fine
Tier two lender, Diamond Bank Plc has confirmed that the sum of N250 million has been deducted from its account with the Central Bank of Nigeria (CBN). The bank sent a notice to the Nigerian Stock Exchange (NSE) after trading hours…
News Insight: Buhari’s $10billion harvest from China
Heads of State, Governments and delegations from 52 African countries, including Nigeria and the People’s, Republic of China met in Beijing, under the auspices of the Forum on China and Africa Cooperation (FOCAC). The tri-annual…