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Business
No Plan To Phase Out New Naira Notes, Says CBN
The Central Bank of Nigeria,CBN, has debunked viral reports circulating on social media that it has plans to phase out the new N200, N500 and N1,000 Naira…
Billionaire Abdulsamad Rabiu’s net worth skyrockets to $8.6 billion
The second richest person in Nigeria, Abdul Samad Rabiu, has exceeded the net worth of South African billionaire Nicky Oppenheimer and is now ranked as the third richest…
Vehicles, beer, plastics to cost more as FG hikes taxes
The Federal Government has introduced new set of taxes on beer, imported vehicles and single use plastics. It has also added to the list of items banned from being…
Stop Appointing Bankers As CBN Governor – Deji Adeyanju
Socio-political activist, Deji Adeyanju , has advised the incoming government to not appoint a banker as Central Bank…
Twitter introduces feature that allows media publishers charge users per article
Elon Musk, the billionaire founder of Tesla Inc., says Twitter will soon allow media publishers to charge users on per article basis. Musk, in a Twitter post on Saturday, said the feature will be rolled out…
Manufacturer protests as Taiwan, Malaysia detect ‘cancer-causing’ substance in Indomie noodles
Indofood, makers of Indomie instant noodles, has reacted to a recall of its products in Taiwan and Malaysia over an increased cancer risk. Health officials in Malaysia and Taiwan said they had detected ethylene…
The Humbling of a Bank Chairman: Why Tony Elumelu Bought over Otedola’s Stake in Transcorp
Like a sewer rat fleeing the onslaught of an unrelenting charwoman, Mr Tony Elumelu, the handsome Chairman of UBA, is running hither, thither as you…
Court bars FG from Ajaokuta steel, iron ore mining concession
Ajaokuta steel plant A Kogi State High Court sitting in Lokoja has ordered the Federal Government to desist from proceeding with the concession of the Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore…
Taste buds to tingle as GTCO Food & Drink Festival starts today
L - R: Cornelius Onuoha, Managing Director, RedGecko PR Ltd; Tolulope Onipede, Corporate Communications, GTCO and Charles Eremi, Corporate Communications, GTCO at the 2023 GTCO Food and Drink Festival Media briefing and interaction.…
Flutterwave founder Olugbenga Agboola joins board of Lagoon Hospital as co-owner
Flutterwave Lagoon Hospital, a top private tertiary care and healthcare service provider in Nigeria, has appointed Olugbenga Agboola OON, the co-founder and CEO of Flutterwave, as a director alongside Fola…
Airfares to rise, as airlines’ exchange rate hits N610/$1
Airlines’ Rate of Exchange, (RoE) has jumped from N582 per dollar to N610 per dollar. This would them mean that international fares would further increase in days to come. The development follows the rising foreign…
Availability of cash fails to ease inflationary pressures – KPMG
The gradual improvement in the availability of cash, boost in electronic transactions, along with the CBN tightening stance has not yet eased pressure caused by inflation especially on food, energy, transport, and…
BREAKING: Otedola exits stake in Transcorp Plc in landmark deal
Serial investor and billionaire, Femi Otedola has exited his stake in Transcorp Plc, Nairametrics can confirm. Otedola had acquired a…
Netflix Dips 36.18% As US Internet Coys Lose $800bn In 12months
Popular streaming platform Netflix has been hit with a loss of 36.18 percent in market capitalisation, bringing its current capitalisation to…
Fidelity Bank Grows Earnings To N337bn, Declares 50k Per Share Dividend
Fidelity Bank Plc has logged gross earnings of N337.1 billion, a 34.4 percent growth year on year (YoY). According to its 2022 Audited Financial…
Nigeria’s domestic transactions hit N980bn in 3 months
Amid uncertainty and other macroeconomic challenges, total domestic transactions on the Nigerian Exchange Limited (NGX) for the first…
Cash Crunch Crippled Nigeria’s Economy, Says UN
The United Nations (UN) says the recent cash crunch in Nigeria affected the country’s economy. In a recent report, the inter-governmental organisation said the development which lasted for months mostly affected the…
Elumelu’s HH Capital announces acquisition of 25.58% in Transcorp Plc
Transnational Corporation Plc (Transcorp) has informed the Nigerian Exchange Limited (NGX) and the investing public of the acquisition of new shares by HH Capital Limited. HH Capital is a company (Special…
Here are Nigeria’s five trillionaire listed companies
Despite economic disruptions caused by the Russia-Ukraine conflict and the aftermath of the COVID-19 pandemic, MTN Nigeria Communications Plc, Dangote Cement Plc, and three other companies have earned their places in the…
What to know about Gamma’s acquisition of Vydia
Mr Eazi In a major move within the music industry, gamma, a provider of technology solutions for the media and entertainment industry, announced back in December 2022 its acquisition of Vydia, a New Jersey-based music and…
Nigerian banks’ Africa foray faces major test
Nigerian banks are finding out the hard way that the grass is not always greener on the other side as the country’s biggest banks are incurring billion-naira impairment costs from their investments in Ghanaian bonds due to…
e-Naira ensures safety of money in banks – CBN assures
The Central Bank of Nigeria (CBN) has assured Nigerians of the safety of their money in banks through the operation of the e-naira. taken its e-Naria digital currency policy sensitisation to the community…
Rising inflation puts new, ‘Tokunbo’ cars out of reach
Rising inflation in Africa’s biggest economy is putting the prices of new and used imported vehicles, popularly known as ‘Tokunbo’ cars, out of reach for millions of Nigerians, especially low-income earners.…
Dollar-priced tickets fail to free airlines’ trapped funds
Despite deploying several measures to ensure ticket sales are collected in dollars, airlines’ trapped funds in Nigeria have continued to rise. Airlines trapped funds in Nigeria saw a sharp rise from $744 million in March…