Dangote Fertiliser starts pre-testing of $2bn plant before inauguration
Dangote Fertiliser Limited has started the pre-testing of its $2 billion Granulated Urea Fertiliser plant located in the Dangote Free…
Month: February 2020
FG to buy up locally produced gold
The Federal Government has begun the registration of artisanal miners, following the commencement of the Presidential Artisanal Gold Mining Development…
Kano rice production hits 3MT per year
Kano State Governor, Dr Abdullahi Ganduje, says that the local production of rice in the state has reached three million…
Twitter founder, Jack Dorsey donates N2.3 million to Nigerian startup, DevCareer
Twitter founder, Jack Dorsey, has donated £5,000 ($6,437) in Nigeria’s nonprofit software startup, DevCareer. The fund from Dorsey, who was in Nigeria…
Manufacturing declines as 2.27% GDP growth surpasses IMF projection
The National Bureau of Statistics on Monday released the Gross Domestic Product report for the 2019 fiscal year with the…
Financial markets under pressure as coronavirus spreads
Worries about the economic consequences of the coronavirus epidemic hit financial markets on Monday with uncertainty among investors noticeably on…
Investors lose N181.08 billion as bourse bow to bears on Monday
The Nigerian Stock market started the week on a bearish trend, as investors lost a total of N181.08 billion on Monday. This…
NERC puts limits on Discos’ estimated billing
The Nigerian Electricity Regulatory Commission has placed limits on estimated bills that can be issued by electricity distribution companies to…
FG plans more incentives to boost capital market
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, has promised that the federal government would introduce more tax…
Central bank clarifies position on operation of domiciliary accounts
The Central Bank of Nigeria (CBN) says it has not prohibited the acceptance of foreign currency cash deposits by Deposit…
Sony launches first 5G smartphone as it hopes to turn around struggling mobile business
Sony has unveiled its first 5G smartphone in a bid to prop up its struggling smartphone business. With the f flagship…
Foreign Portfolio Investors inject $1.7bn into I&E window
FOREIGN Portfolio Investors (FPIs) injected $1.7 billion into the Investors and Exporters (I&E) window in January 2020 raising hope of…
Banks’ lending rates defy crash in TB yields
BANKS are yet to adjust their lending rates downward to reflect the sharp decline in treasury bills yields occasioned by…
Foreign reserves drop by $1.64bn in five weeks
The country’s foreign exchange reserves continued its downward trend as it dropped by $1.64bn from $38.34bn on January 15, 2020…
Dangote invests N63bn in Enugu-based automaker, buys 3,500 trucks
Dangote Group has entered into a long-term agreement with an Enugu-based automaker, Transit Support Services Limited, for the supply of…
CBN sets dollar deposit, withdrawal rules for customers
The Central Bank of Nigeria (CBN) on Sunday said customers can deposit dollars into their domiciliary accounts but are not…
Cash-Rich Berkshire Embraces the Idea of Life After Buffett
Warren Buffett waited until the very last page of his annual shareholder letter to reveal a big change: Shareholders will…
Shopify joins nonprofit behind Facebook’s Libra currency
Online commerce platform Shopify on Friday said it has joined the nonprofit association behind Facebook’s planned Libra cryptocurrency. Canada-based Shopify…
Forex: CBN injects $292.34million into retail Secondary Market
The Central Bank of Nigeria (CBN) has injected the sum of 292.34million dollars into the retail Secondary Market Intervention Sales…
NSE market indices dips 0.65%, amid Nestle N112 loss
The market indicators of the Nigerian Stock Exchange (NSE) on Friday declined by 0.65 per cent, amid loss posted by…
Filmhouse, Silverbird, others generate over N79.8 million on Valentine’s weekend
Valentine’s Day drove revenue of cinema houses across Nigeria over the weekend, making it the highest-grossing weekend since the yuletide period,…
Nissan launches a subscription service starting at $699 a month
Car subscriptions: they’re totally a thing! The latest automaker to test the waters on subscriptions is Nissan, which just launched…
CSL Stockbrokers Appointed as New Stockbroker to the Federal Government
CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc, has emerged as the new stockbroker to the Federal Government of Nigeria. The appointment of the firm, as…
Experts allay fear of naira devaluation in 2020
Experts in the financial system have allayed fears of possible devaluation of the Naira this year, considering various strategies the…
Market rebounds as financial stocks lift index by 0.17%
Following renewed interest in the shares of some banking and insurance stocks, the Nigerian equities market rebounded yesterday, to halt…
Customs intercepts smuggled rice in gas cylinders
The Nigerian Customs Service (NCS), Federal Operations Unit (FOU) Zone ‘A’, has intercepted some foreign parboiled rice concealed in gas…
9mobile invests $220m in 4G expansion
9mobile says it is investing $220m in the expansion of its 4G LTE to more Nigerian cities as part of…
Stock market halts five-day losing streak, gains N24bn
Activities on the Nigerian Stock Exchange closed on a positive note on Thursday, putting a halt to five consecutive days…
Prepare for electricity tariff hike, TCN tells Nigerians
Nigerians should be prepared to pay cost-reflective electricity tariffs in order to enjoy the benefits of the liberalisation of the…
Excess charges: CBN return over N60 billion to customers
The Central Bank of Nigeria (CBN) disclosed that it had recovered on behalf of customers over N60 billion excessive charges imposed on…