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Business
GTCO Shareholders Endorse N91.24bn Total Dividend Payout for 2022
Shareholders of Guaranty Trust Holding Company (GTCO) Plc, have endorsed the payment of a total dividend of N91.236 billion, representing N3.10…
Fidelity Bank CEO Bags Champion Newspapers’ Banker of the Year Award
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has received yet another recognition as she…
USSD: Nigerian Banks owe telecom operators N120bn, face disconnection
Telecommunications Operators in Nigeria say they have been granted approval by the Nigerian Communications Commission (NCC) to disconnect banks over N120 billion Unstructured Supplementary Service Data (USSD) debt. This…
Sowami completes acquisition of Ardova, pays $19m arbitration award to Otedola
AbdulWasiu Sowami, chairman of Ardova Plc, has completed the acquisition of the oil company from Femi Otedola, Nigeria’s billionaire business mogul. The chairman has also settled a $19 million arbitration ruled in favour…
MTN to hike price over inflation
Telecoms group, MTN, has said that it is planning to increase prices in selected markets due to the elevated inflation in the operating environment. This was disclosed in its first quarter report filed with the…
Uber to introduce flight booking feature
Ride hailing app, Uber, has unveiled plans to introduce flight booking features for users. An announcement released via the company’s website on Thursday revealed that the feature will launch first in the United Kingdom “this…
Senate presidency: Yari, Kalu threaten revolt over zoning
Aggrieved aspirants in the race for the seat of Senate President in the 10th National Assembly on Thursday threatened to disobey the micro-zoning arrangement adopted by the ruling All Progressives Congress. The…
Court suspends Roger Brown, Basil Omiyi as CEO, board chairman of Seplat
A federal high court in Abuja has ordered the suspension of Roger Brown, chief executive officer (CEO) of Seplat Energy, pending the determination of motion on notice, filed by three aggrieved shareholders. Basil…
Elon Musk hires new Twitter CEO
Elon Musk, on Thursday, said that he has hired a new Chief Executive Officer to replace him as the Twitter boss and its newly named X Corporation parent. He revealed this on his official Twitter handle on Thursday…
International airfares skyrocket as exchange rate jumps by 38%
International airfares on Nigeria routes to various global destinations have skyrocketed again as the International Air Transport Association’s exchange rate for ticket sales has risen by 37.5 per cent above the official…
Elumelu Consolidates Position In UBA As Equities Investors Lose ₦216.28bn
Billionaire investor and chairman of United Bank for Africa (UBA), Tony Elumelu, has consolidated his…
Otedola sells 2.8 million units of Geregu shares
The majority shareholder of Geregu Power Plc, Femi Otedola, has sold over 2.8 million units of his shares in the power generation company, The PUNCH has learnt. According to a corporate filing on the Nigerian Exchange…
Dangote flays Customs, NPA over port congestion
The Chairman of the Dangote Group, Aliko Dangote, has flayed the Nigeria Customs Service, Nigerian Ports Authority and the Nigerian Shippers’ Council for the congestion of the nation’s ports. Dangote slammed…
Non-oil exporters receive N144 billion rebates in 14 months
The Central Bank of Nigeria (CBN) has disbursed a total of N144 billion to exporters of semi and finished commodities as rebates in the…
MTN Nigeria gets NCC approval to lease spectrum from NTEL
The Nigerian Communications Commission (NCC) has approved a spectrum lease transaction between MTN Nigeria and Natcom Development and Investment Limited (NTEL). The deal…
JUST IN: FG approves Transcorp Power as preferred bidder for Abuja DisCo
Vice-President Yemi Osinbajo says Transcorp Power has been approved as the preferred bidder for the Abuja Electricity Distribution Company (AEDC). He spoke on Tuesday at the commissioning of the Afam 3-fast power…
UPDATED: How Tony Elumelu backstabbed me, went after my shares during bankruptcy – Otedola
Femi Otedola, billionaire businessman, on Tuesday morning, went down memory lane on his relationship with Tony Elumelu and his plans for Transcorp before he opted out because his bid was rejected. Otedola noted that…
Central Bank Grants Permit To Foreign Banks To Disburse Loans To Nigerians In Dollars
The Central Bank of Nigeria (CBN) on Monday granted foreign banks permission to give loans to Nigerians and companies operating in Nigeria in dollars. The apex bank adopted this measure to expand dollar liquidity in…
UBA: I Gave Elumelu $20m To Acquire Bank – Otedola
For a long time, not many people knew that Femi Otedola was one of the progenitors of the United Bank for Africa, UBA, Africa’s Global Bank. The commercial bank has been…
African startups receive $12bn funding
Africa’s thriving tech sector has received a total of $12.5bn between 2021 and 2022, a report by Partech’s Africa Tech Venture Capital has revealed. During the period under review, African tech startups attracted…
Osinbajo presents discharge certificate to Transcorp power
Vice President Yemi Osinbajo, on Monday, in Abuja, said it would take “serious” private sector investment in Nigeria’s power sector to meet the country’s rising energy needs. Osinbajo made the observation when he…
Fidelity Bank emerges Nigeria’s best-performing bank share
With a 32% year-to-date appreciation in value, Fidelity Bank Plc’s shares have emerged Nigeria’s best performing year -to-date bank share. This is according to a…
My Refinery Can Save Nigeria $10bn in FX, Generate Another $10bn in Exports – Dangote
Africa’s richest man and owner of the Dangote Refinery, Mr. Aliko Dangote, has said with the planned commencement of…
BREAKING: Dangote announces date for commissioning of multi-billion refineries
President Muhammadu Buhari is expected to be in Lagos on May 22 to commission the Dangote Refinery. Bashir Ahmad, special assistant to the president on digital communications,…