World UK-AIS 27 Commercial Deals Worth Over 6.5bn Pounds January 31, 2020 Ekemini We are announcing 27 deals worth over 6.5bn pounds from across the African markets invited to this Summit and we are aware of further UK commercial investment into Africa that…
Business Technology MTN Group to sell 14% of its Nigerian business January 31, 2020 Ekemini MTN Group says it is looking to reduce its majority shareholding in its Nigerian subsidiary by 14%. Bloomberg reports that the company hopes to raise $4 billion from the sale…
Banking Local LAPO Microfinance Bank unveils ‘My Piking and I’ January 31, 2020 Ekemini LAPO Microfinance Bank Limited has unveiled ‘My Pikin and I’, savings account designed to provide support for women and children boost the bank’s deposit base. Speaking during the product launch…
Business JMG celebrates staff at 20 years anniversary January 31, 2020 Ekemini JMG has recognized its workers that have stayed over 20 years and 10 years in the company. The company gave awards to staff who have stayed with the company for…
World Amazon returns to trillion-dollar market-cap club as shares soar 8% January 31, 2020 Ekemini Amazon (AMZN) handily topped consensus expectations in fourth-quarter earnings results, dazzling the Street and pushing shares above $2,000 apiece. The company’s market capitalization jumped back above $1 trillion, joining the…
World S&P 500 poised to turn negative for the year as losses hold January 31, 2020 Ekemini The S&P 500 was on track to close in negative territory on the year during Friday’s session. Each of the three major indices was off more than 1% as rising…
World Relax! Coronavirus is Less Dangerous Than the Flu, Says Epidemic Expert January 31, 2020 Ekemini The danger posed the Wuhan coronavirus (2019-nCoV) is not as lethal as media reports would have you believe, according to an expert. According to a researcher and epidemic expert at…
Local FG targets $150 billion revenue from Zero-oil plan January 31, 2020 Ekemini Through the implementation of the zero-oil plan, which comprises of non-oil commodities, the Federal Government (FG) has disclosed that it is targeting additional $150 billion to the foreign reserves in…
Local Technology Telecoms operators fined N2.9 billion over infractions January 31, 2020 Ekemini Four major telecommunication companies in Nigeria have been fined for various actions that contravene the rules and regulations of the Nigerian Communications Commission (NCC). The regulatory body of the telecoms…
Business Enyo, Cars45 partner on auto sales, servicing January 31, 2020 Ekemini One of Nigeria’s fuel retailing companies, Enyo Retail and Supply, has strengthened its partnership with Nigeria’s digital vehicle trading platform, Cars45, to launch a world-class auto centre. The auto centre…
Local Only 18.75% Lagos residents are registered taxpayers — LIRS January 31, 2020 Ekemini Lagos Inland Revenue Service (LIRS) has said that only 4.5 million or 18.75 per cent of the 24 million people resident in Lagos State, representing 18.75 per cent are registered,…
Local IGR: 36 States, FCT record N986.29bn in 9months January 31, 2020 Ekemini The 36 States of the federation and the Federal Capital Territory (FCT) recorded Internally Generated Revenue (IGR) of N986.29 billion in nine months ending September 2019, representing 16.81 per cent…
Business Volkswagen offers to buy all of Navistar for $2.9 bn January 31, 2020 Ekemini German auto giant Volkswagen said Thursday it wants to buy the part of American truck maker Navistar that it does not already own for $2.9 billion. In 2016, VW bought…
Banking Why bank customers abandoned 4.5 million current accounts January 31, 2020 Ekemini Bank customers have said that stringent procedures of commercial banks and charges have made them abandon current accounts. According to the latest Nigerian InterBank Settlement System (NIBSS) Industry Statistics Data,…
World Amazon earnings beat expectations, shares surge January 31, 2020 Ekemini Amazon shares shot higher Thursday after the internet colossus released quarterly earnings figures for the holiday quarter that trounced market expectations. Profit in the final three months of last year…
Business Local NNPC swapped N3.04tn crude for refined products January 31, 2020 Ekemini A total of 150.4 million barrels of crude oil valued at N3.04tn was swapped for refined petroleum products by the Nigerian National Petroleum Corporation between September 2018 and September 2019,…
Banking Local CIBN tasks manufacturers on backward integration for rapid growth January 31, 2020 Ekemini The Chartered Institute of Bankers of Nigeria (CIBN), has said the manufacturing sector has huge potential to become the livewire of the nation’s economy, if it would look inward to…
World BREXIT: UK To Exit EU Today January 31, 2020 Ekemini The United Kingdom will finally have its Brexit at 11 pm on Friday, with Prime Minister Boris Johnson expected to deliver an emotional divorce address in a broadcast. According to…
Investing Local How Nigeria gained $1 billion investments in Auto industry within a year January 31, 2020 Ekemini Nigeria’s automobile industry received a boost with over $1billion investments from renowned auto manufacturers in 2019, thereby lifting capacity to at least 408,870 vehicles yearly. The manufacturers, which include Honda,…
Local Nigeria rakes in $813 million from cashew export January 31, 2020 Ekemini Minister of Agriculture, Sabo Nanono, yesterday, disclosed that the cashew sub-sector generated over $813million between 2015 and 2017. Nanono in his keynote at the Cashew stakeholders and Export meeting, organised…
Investing AfDB approves $22 million loan to boost SMEs operations January 31, 2020 Ekemini The board of the African Development Bank (AfDB) has approved the sum of $22 million as loan to help support SMEs across agribusiness and food industries, tourism, Information Communication Technology…
Banking Local Senate confirms Kingsley Obiora as CBN deputy governor January 31, 2020 Ekemini The Senate, yesterday, confirmed the appointment of Dr. Kingsley Obiora as a Deputy Governor of the Central Bank of Nigeria (CBN), following the adoption of the report of the Committee…
World Interest rates left at 0.75% amid signs of rebound for UK economy January 30, 2020 Ekemini The Bank of England has voted to leave interest rates on hold amid early signs of a rebound in the economy following Boris Johnson’s election victory. Despite warning that Brexit…
Technology World Huawei ruling will cost us £500m, says BT January 30, 2020 Ekemini Telecoms group faces big bill for stripping out banned kit from 5G broadband network Limiting the use of Huawei equipment in BT’s EE 5G mobile and full-fibre broadband networks will…
Technology Nigerian Fintechs take lead in Africa attracting $122 million fund in 2019 January 30, 2020 Ekemini The Financial Technology (Fintech) industry in Nigeria has come to stay, as it took the lead in Africa attracting $122 million in funds in 2019. This was disclosed in the…
Local Lagos state issues N100bn infrastructure bond January 30, 2020 Ekemini The Lagos state government says it has issued a N100 billion series III bond under its N500 billion bond issuance programme. Babajide Sanwo-Olu, the state governor, said the proceeds from…
World Conoravirus: The Hang Seng Is Down By 5% In Two Days As Yuan Slumps January 30, 2020 Ekemini Hong Kong’s main stock index has fallen 5% in two days as the rising number of coronavirus cases creates uncertainty for the global economy. The Chinese yuan also tumbled below…
Features World Markets Wrap January 30, 2020 Ekemini U.S. equity futures slid with stocks on Thursday as investors mulled mounting evidence that the coronavirus epidemic is disrupting the world’s second-largest economy. Bonds gained and China’s offshore yuan briefly…
Local Coronavirus: Nigeria’s N2.64tn proposed oil revenue under threat January 30, 2020 Ekemini Nigeria is facing double jeopardy of falling oil prices and production decline amid fears that coronavirus, which has its roots in China, may keep spreading, ’FEMI ASU writes The Federal…
Local T-bills interest rates surge, subscription declines January 30, 2020 Ekemini The interest rates on treasury bills witnessed an appreciation at the Primary Market Auction, which took place on Wednesday. Stop rates improved across all maturities as investors’ demand for the…
