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Lagosians prefer yearly rent payment over monthly payment – Survey
Lagosians have indicated a preference for annual rent payments compared to the monthly payment according to data from a survey on the state’s real estate industry. The report by BuyLetLive titled “Residential…
Imposing 70% tax on banks’ FX gains excessively burdensome – Bank Directors
The Bank Directors Association of Nigeria (BDAN) has called on the federal government to reconsider the recently imposed 70 percent windfall tax on banks’ earnings from foreign exchange transactions. On July 17, the…
We reduced stake in Dangote refinery to invest in CNG, says NNPC
The Nigerian National Petroleum Company (NNPC) Limited says its stake in Dangote Petroleum Refinery was reduced to 7.2 percent…
Port Harcourt refinery kickoff a done deal – Marketers
Nigeria’s oil marketers have reignited hope that the Port Harcourt Refinery would commence commercial production in…
Briton, Indians accused of defrauding Ecobank $42m lose bid to stop arrest, extradition
A federal high court sitting in Lagos has dismissed the applications filed by three foreigners to quash a bench warrant issued for their arrest and extradition over a $42.48 million fraud allegations. The…
Petrol may sell for N600 per liter with Dangote Refinery – Marketers
Nigeria’s oil marketers have said that Dangote Refinery may crash the price of petrol to between N600 – N650 per…
Providus Bank pays Unity price for national dreams
Providus Bank’s acquisition of Unity Bank, a financially troubled yet systematically important…
Alleged 5.4bn shares: CBN, FBN Holdings ask court to dismiss Barbican Capital‘s suit
…..Court accepts for CBN to be joined as 3rd party The Central Bank of Nigeria (CBN) and FBN…
Nigeria’s crude oil production rises to 1.3 million bpd in July- OPEC
Nigeria’s crude oil production in the month of July rose to 1.307 million barrels of crude oil daily according to the monthly oil market report of the Organisation of Petroleum Exporting Countries (OPEC). According…
Dangote Refinery facing Financial Troubles, needs $3 Billion Working Capital
Dangote Refinery is currently battling to stay afloat amidst failure to secure Letters of Credit(LC). Politics Nigeria has gathered…
“Release him before it is too late” – Wife of Binance executive warns Tinubu’s govt
Yuki Gambaryan, wife of American citizen and Binance executive Tigran Gambaryan, has urgently called on the Nigerian government to release her husband, who is currently detained under deteriorating health conditions in…
Dangote petrol: Marketers wait as delivery date extended again
There are strong indications that the Dangote Petroleum Refinery may not roll out petrol on Monday in line with its earlier schedule. The President, Dangote Group, Alhaji Aliko Dangote, had last month projected that…
Barbican Capital sues First Bank for wrongly stating shareholding
…seeks to enforce rights over its 5.38bn (15.01%) shares The legal quagmire in Nigeria’s oldest financial institution, FBN Holdings, has just got more complicated, with the largest single shareholder, Barbican…
The billionaire’s social calendar: The must-attend events for the world’s wealthiest…
Despite their scarcity, these billionaires are surprisingly easy to find. After all, birds of a feather —…
‘From N150k to N60k’ — basket of tomatoes price drops amid new harvest
The price of a basket of tomatoes has dropped amid new harvests, traders in Ketu and Berger markets told TheCable. A trader at Ketu market said a big basket of tomatoes is currently selling for about N55,000 to…
Electricity tariff may spike over weak fiscal position, N2.1tr subsidy
Barring any last-minute intervention, Nigerians will, in two months, start paying the full cost of electricity as the Nigerian Electricity Regulatory Commission (NERC) seeks to eliminate the stabilisation…
We can’t sabotage Dangote refinery after investing billions in it, NNPCL says
The Nigerian National Petroleum Corporation (NNPC) Limited has reiterated that it is not involved in any sabotage of the Dangote Refinery, highlighting its substantial investment of billions of naira in the…
JUST IN: NDIC gives N5m each to defunct Heritage Bank customers
The Nigeria Deposit Insurance Corporation says it has disbursed the insured deposits of N5 million each to 82.36 per cent of the total customers of the defunct Heritage Bank. It also noted that 17.64 per cent…
How floating the naira has affected businesses in Nigeria
One of the first major policies of President Bola Ahmed Tinubu’s regime was the floating of the Naira to unify foreign exchange rates and save Nigeria the billions of dollars previously used to defend the…
Nigerian Eurobonds that can earn you $1,000 for every $10,000 invested Tax-Free
In an economic climate where the Naira is facing continued depreciation, Nigerians are increasingly seeking ways to protect and grow their wealth. One of the more attractive investment options is…
Dangote Refinery: Reactions Trail Hundeyin’s Confession
Nigerians are jolted by a confession by a Nigerian investigative journalist, David Hundeyin, who claimed to have been contacted to blackmail Dangote Hundeyin, disclosed how an International Non-governmental…
Top 10 Banks that got highest FX from CBN’s latest Retail Dutch Auction
The Central Bank of Nigeria (CBN) recently conducted a Retail Dutch Auction System (rDAS) on August 6, 2024, in an effort to mitigate the rising demand pressures in the foreign exchange (FX) market and to…
Dangote Group purchases $105.33 million from latest CBN’s Retail Dutch Auction
Dangote Group’s subsidiaries have emerged as major recipients in the latest Retail Dutch Auction conducted by the Central Bank of Nigeria (CBN), purchasing at least $105.33 million in successful foreign…
Meet China’s new 44 year old richest man
Colin Huang, the 44-year-old founder of Temu, has risen to the position of China’s richest man, dethroning Zhong Shanshan, the bottled-water tycoon and founder of Nongfu Spring, who had held the title since April…