Browsing Category
Business
UBA Reiterates Commitment To Customers As It Marks 75 Years Anniversary
Africa’s Global Bank, United Bank for Africa (UBA) is 75years old. The financial institution held a Global Press Conference on Monday, May…
Why Emirates Airline return may drain our limited FX – AITE Chairman
Following the disclosure that Emirates Airlines would re-commence operations to Nigeria on October 1, Chairman of the Africa Investment and Trade Summit and Exhibition, AITE, Mr Tunde MacAlabi, has warned that the…
PoS: Anger, frustration over high cost of cash withdrawals
Nigerians have voiced anger over outrageous charges Point of Sale, PoS, operators take to withdraw money from their bank accounts. Citizens who spoke to Vanguard weekend expressed concern that PoS operators are…
FG gets 52% in tax for every N1 we make as profit – Aliko Dangote
Africa’s richest man, Aliko Dangote, has said that the Federal Government takes 52% tax on every N1 his company earns in profit in the country, highlighting the challenges of entrepreneurship in Africa. The business…
CBN faces tough choices on interest rate, inflation, others
The Central Bank of Nigeria (CBN) faces a dilemma: to continue the increase in benchmark interest rate or to hold on and continue to monitor the economic responses to its policy initiatives. The choice to hold…
Stanbic IBTC gets approval for N550b capital raising
Shareholders of Stanbic IBTC Holdings Plc have approved plans by the holding company to raise a total of N550 billion in new debt and equity capital, as the company seeks to meet the new minimum capital…
Foreign reserves build up despite naira volatility
Fourth consecutive rise in steady gain Nigeria’s foreign exchange (forex) reserves sustained recovery with addition of $195.01 million to close…
More Pressure On Naira Ahead Possible Interest Rate Hike
Financial experts have said there are concerns that the Central Bank of Nigeria (CBN) low net FX reserves and the defense of the naira sparked risk-off sentiments amongst foreign investors and limited inflows…
From student loans to global logistics: How three friends started DHL
DHL’s rise from modest beginnings to become a global leader in logistics is nothing short of remarkable. In 1969, three friends, Adrian Dalsey, Larry Hillblom and Robert Lynn, decided to start their delivery business…
CBN withdraws circular on cybersecurity levy
The Central Bank of Nigeria (CBN) has withdrawn its circular mandating banks and payment service providers to collect and remit the cybersecurity levy as proposed in the Cybercrime Prevention and Prohibition Amendment…
CBN tightens noose further as banks begin recapitalisation processes
The Central Bank of Nigeria (CBN) has set up internal sur- veillance and monitoring mechanisms to ensure that recapitalisation…
Ring-fenced pension funds: Despite Edun’s rebuttal, stakeholders warn FG to back off
The alarm raised last Wednesday by Atiku Abubakar, former vice president and presidential flag bearer of the People’s Democratic Party in the last general election through his ‘X’ handle about the Bola Ahmed…
Nigeria to stop petrol importation in June – Dangote
Aliko Dangote, Africa’s richest person, says Nigeria will stop importation of petrol into the country by June. Dangote spoke at the Africa CEO Forum Annual Summit in Kigali on Friday. He said the country should…
CNG pumps: FG may fund installation as marketers lament high cost
The Federal Government may consider assisting independent fuel marketers with funding to install Compressed Natural Gas sales pumps at filling stations across the country, Saturday PUNCH has learnt. This followed the…
AFRICA CEO FORUM: Dangote calls for more investments to propel Africa’s economic growth
President of the Pan-African Conglomerate, Dangote Industries Limited (DIL), Aliko Dangote has called for increased investments in the African…
Court Denies American Binance Executive, Gambaryan Bail
A Federal High Court in Abuja, on Friday, denied the bail application of a Binance executive, Tigran Gambaryan, in a money laundering trial. Justice Emeka Nwite refused to…
FIRS collected N3.94trn in tax revenue in Q1 2024 – Zach Adedeji
The Federal Inland Revenue Service (FIRS) says it collected a sum of N3.94 trillion in tax revenue in the first quarter (Q1) of 2024. Zacch Adedeji, FIRS executive chairman, announced the revenue figure on May 15.…
Why trying to make naira appreciate in a hurry won’t work – Atedo Peterside
The founder of Stanbic IBTC and ANAP Foundation, Atedo Peterside said trying to make the naira appreciate against the dollar in a hurry will not work. Peterside stated this in an interview on Channels Television’s…
UTM Offshore CEO, Julius Rone, wins award for pioneering FLNG in Africa
Julius Rone, the CEO of UTM Offshore, has been recognised with a prestigious award for his pioneering efforts in Floating Liquefied Natural Gas (FLNG) technology in Africa. Rone was conferred with the…
FG clears air on ‘plan’ to illegally access worker’s savings, pension
The Bola Tinubu-led government has reacted to an alleged plan to access the salaries and pension contributions of workers. Earlier this week, there were reports that the federal government plans to take from the pension…
BREAKING: Court backs CBN, directs banks to collect customer’s social media handles
The Federal High Court, Lagos has upheld a new Central Bank of Nigeria (CBN) regulation which requires financial institutions to demand and collect the social media handles of their customers, as part of the standard…
Two Brothers attack Ethereum blockchain, steal $25 million in cryptocurrency
Two brothers, Anton Peraire-Bueno of Boston and James Peraire-Bueno of New York, were arrested yesterday in connection with a massive heist on the Ethereum blockchain which led to the loss of $25 million worth of crypto…
Dangote Refinery To Buy 24 Million Barrels Of US Crude Oil – Report
Dangote Oil Refinery in Lagos is seeking to buy millions of barrels of US crude over the next year as it ramps up processing rates. According to a document seen by Bloomberg, the Dangote plant, built by Africa’s richest…