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Business
$700bn mineral industry bleeding
It is alarming to discover that the untapped mineral resources worth $700bn have been taken over by illegal miners, while the Nigerian economy…
Over 60 refinery licences inactive 18yrs after as fuel import thrives
• FG considering giving oil fields to modular refinery owners • NMDPRA hoards data as transparency, accountability concerns worsen • Stakeholders accuse…
BVN, NIN: Sanction banks, not customers – Expert urges CBN
A financial expert, Mr Okechukwu Unegbu, has urged the Central Bank of Nigeria (CBN) to sanction banks that allow customers to operate accounts without their BVN and NIN. Unegbu, a past president of the Chattered…
More Nigerians resort to betting amid hardship
James Ayorinde (not real name) a graduate of Political Science at the University of Lagos, is a football addict who hardly misses any match and…
INTELS waived $193m debt to resolve pilotage crisis, NPA affirms
Nigerian Ports Authority (NPA), yesterday, stated that INTELS Nigeria Limited waived $193 million as part of efforts…
BVN and NIN: Nigerians express mixed reactions to CBN directive
Nigerians have taken to social media to express their mixed reactions to the Central Bank of Nigeria’s (CBN) latest directive mandating the use of Bank Verification Numbers (BVN) and…
Nigerian energy magnate Austin Avuru gains $39.1 million from Seplat stake
Austin Avuru, a renowned Nigerian energy magnate, has experienced a significant surge in his fortunes, witnessing a notable increase in the market value of his stake in…
How Denzel Washington built a million dollar legacy from acting
Early Life and Education Born in Mount Vernon, New York, on Dec. 28, 1954, Denzel Washington, Jr., was born to very humble backgrounds. His father Denzel Hayes Washington, Sr.,…
Atiku Denies Relationship With Intels
Atiku Abubakar, Presidential Candidate of the Peoples Democratic Party (PDP) in the 2023 elections, says he has no relationship with Integrated Logistic Services Nigeria Limited (Intels). He said this in a post via X…
FG reinstates Intels boat service contract
The Federal Government has reinstatement Intels Nigeria Limited to operate boat service operations in the Lagos pilotage district. This was contained in memo made available to shipping companies through berthing…
Why Nigeria’s Forex Crisis Persists
Nigeria’s foreign exchange volatility may linger for a while due to low crude oil production and limited foreign exchange inflows into the country, Daily Trust on Sunday reports. The development is weighing…
Outstanding Tax Liabilities: FIRS Okays Waiver on Penalties, Interests
The Federal Inland Revenue Service (FIRS) has approved a full waiver of penalties and interests on all outstanding tax liabilities…
Despite Economic Headwinds, Stock Market Investors Gain N11.14 Trillion in 11 Months
*Positive corporate earnings, reforms driving rally *Analysts express mixed reactions over impending banking sector recapitalisation Despite the challenges…
BREAKING: CBN to “PND” any bank account or wallet without BVN/NIN from 2024
The central bank has announced that all bank accounts without BVN and NIN will be placed on “Post no Debit” effective April 2024. This was contained in a circular issued by the central bank and sent to all deposit…
US regulator slams PwC with $7 million fine
The US Public Company Accounting Oversight Board (PCAOB) has slammed PwC China with a $7 million dollar fine as it alleges that the company failed to detect or prevent extensive cheating by its staff during internal…
Cristiano Ronaldo faces $1bn lawsuit over Binance ads
Footballer Cristiano Ronaldo is facing a class action lawsuit in the US over his promotion of Binance, the largest cryptocurrency…
Son of South Africa’s second-richest man acquires Nigeria’s biggest beverage can maker
Billionaire businessman and conservationist Jonathan Oppenheimer, the son of South Africa’s second-richest man Nicky Oppenheimer, has acquired full ownership of GZ Industries…
FMDQ records secondary market turnover of N21.70trn in October
…implies 60.27% YoY increase FMDQ Exchange has released its markets monthly report for October which shows secondary market turnover of N21.70trillion. This level of turnover in October represents a month-on-month…
NNPCL ranks third for free cash flow generation among African oil companies in 2024 – Report
NNPCL ranks third for free cash flow generation by oil companies in Africa by 2024. This is according to the State of the African Energy 2024 Outlook Report released in November 2023 by the African Energy Chamber. A…
British-Nigerian admits guilt in New York bank hacking crime
Idris Dayo Mustapha, a person who is from both Britain and Nigeria, admitted in a court in New York that he took part in a criminal plan that lasted more than seven years. This plan involved breaking into computer…
‘Japa’ wave hits Nigeria’s investment banking industry
A disturbing development fast becoming a major concern for most companies in Nigeria has taken its toll on the investment banking and financial advisory industries as SBG Securities Research, a member of Standard Bank…
Nigeria’s richest banker, Jim Ovia makes $13 million from Zenith Bank stake in 8 days
Jim Ovia, renowned as Nigeria’s richest banker and a key figure in the country’s banking industry, has experienced a significant surge…
Nigeria’s currency in circulation hits 10-month high
The currency in circulation in Africa’s biggest economy rose to the highest in 10 months, a BusinessDay analysis has shown. According to the data from the Central Bank of Nigeria (CBN), the currency in…
BREAKING: Old, new naira notes to co-exist until further notice, s’court rules
The supreme court has ruled that old and new naira notes will co-exist as legal tender until further notice. In March 2023, the supreme court had…