CBN: Credit To Private Sector Reached N33.84trn In September
The Banking sector credit to the private sector increased month-on-month (M-o-M) by N425.9 billion to N33.84 trillion as of September, up from the N33.4 trillion it was as at the…
Facebook Name Change To Meta In Embrace Of Virtual Reality
Facebook’s name change is the most definitive signal so far of the company’s intention to stake its future on a new computing platform — the metaverse, an idea born in…
Nigeria’s Presidential Clinic To Gulp N21bn – State House Perm Sec, Tijjani
The Permanent Secretary, State House, Malam Umar Tijjani, has revealed that the proposed 14-bed Presidential Clinic, also known as Aso Rock Clinic billed to be constructed by the federal government…
Euro Hovers Ahead Of ECB Meeting, Yen Looks Past BOJ Doves
The euro dipped below $1.16 ahead of the European Central Bank meeting on Thursday as investors wait to hear policymakers’ views on the outlook for inflation and an expected push…
Imagine Global Couple Are Citizens: Antiguan Authorities
Antiguan authorities have confirmed that the Nigerian couples who are wanted for a multibillion Naira investment scam are citizens of the country. “Both Bamise Ajetunmobi and Elizabeth Ajetunmobi were granted…
Net Foreign Exchange Flow Increased By $0.7 Billion In July
Net foreign exchange (FX) flow through the Nigerian economy increased to US$3.08 billion in July 2021 from US$2.38 billion in June 2021, according to the Central Bank of Nigeria (CBN).…
Facebook Is Rebranding, Changes Name To Meta
Facebook has changed its name to Meta as part of a major rebrand. The company, which announced the change at its annual developer conference, said it would better “encompass” what…
Meta Material Share Spike After Facebook Change Of Name To Meta
Meta Materials spiked late on Thursday, for the same reason that Zoom Technologies rallied in 2019 and Signal Advance surged in January: It’s all about the name. Facebook co-founder Mark…
Federal Government Launch Made In Nigeria Barite
The Federal Government, on Thursday, launched the made-in-Nigeria barite, saying it would save the country the foreign exchange spent on the importation of the product. Barite is used as a…
Diesel Landing Cost Has increased To N336.45 Per Litre: Oil Marketers Association Of Nigeria
The pump price of Automotive Gas Oil, also known as diesel, may rise further as the Major Oil Marketers Association of Nigeria says its landing cost has increased to N336.45…
Panic As Bitcoin Crashes, Wiping Millions Of Pounds In Cryptocurrency Markets
Bitcoin’s price has crashed yet again, wiping hundreds of millions of pounds from cryptocurrency markets and sending traders into a huge panic. The world’s most popular cryptocurrency plummeted below $59,000…
FBN Holdings Appoints Fidelity Bank Plc Immediate Past Managing Director (Nnamdi Okonkwo) As Group Managing Director
The board of FBN Holdings Plc (FBNHoldings) has appointed the immediate past managing director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo as its group managing director. Okonkwo’s appointment takes effect…
Net Foreign Exchange(FX) Inflow To Nigeria Economy Increased To $3.08Billion In July – CBN
Net foreign exchange (FX) flow through the Nigerian economy increased to US$3.08 billion in July 2021 from US$2.38 billion in June 2021, according to the Central Bank of Nigeria (CBN).…
World Bank Disagrees With CBN On Multiple Exchange Rates, Others
The World Bank has said it disagrees with the Central Bank of Nigeria on how it is going about to achieve its price stabilisation objective. The Country Director for Nigeria,…
NNPC Gets Approval To Fix 21 Federal Roads At N621.2bn
Vice President Yemi Osinbajo has in the course of presiding over the Federal Executive Council (FEC) meeting, directed the Nigerian National Petroleum Corporation (NNPC) to take over the reconstruction of…
Federal Executive Council Approves Reconstruction Of 21 Roads By NNPC
The federal executive council (FEC) has approved N621.2 billion for the Nigerian National Petroleum Corporation, (NNPC) to take over the reconstruction of 21 federal roads across the six geopolitical zones…
FG To Review Licence Of Some Power Distribution Companies Over Poor Performance
There are indications that the Federal Government may, in the coming weeks, take punitive measure over the operating licences of some power distribution (DisCos) and generation (GenCos) companies. The Guardian…
Nigeria Stock Exchange Query FBN Holdings Over Shares
The Nigerian Exchange Limited (NGX) has queried FBN Holdings Plc, the holding company of First Bank of Nigeria, for classifying the shareholdings of Tunde Hassan-Odukale and his related parties into…
MultiChoice Africa Holdings Rejects Tribunal Tax Appeal Ruling
MultiChoice Africa Holdings, the parent company of MultiChoice Nigeria, has rejected the ruling of the Tax Appeal Tribunal, which dismissed its appeal against the $342m Value Added Tax bill imposed…
FBN Holdings Confirms Hassan-Odukale Leads Femi Otedola With 0.29% Shareholding
FBN Holdings Plc has confirmed that Mr Tunde Hassan-Odukale is the single-largest shareholder in the company. A statement signed by the company secretary, Seye Kosoko, on Wednesday confirmed that Hassan-Odukale…
Crypto Startup QuickNode Raises $35 Million In Series A Funding Round
Blockchain development platform QuickNode has raised $35 million in a Series A funding round, the company said Wednesday. The round was led by Tiger Global with participation from Alexis Ohanian’s…
World’s Biggest Maker Of Electric-Vehicle Batteries Report Profit That Exceed Analyst Estimate
Contemporary Amperex Technology Co. Ltd., the world’s biggest maker of electric-vehicle batteries and a key supplier to Tesla Inc., reported profit that beat analysts’ estimates as rocketing sales overshadowed a…
Twitter Suffer $537 Million Net Loss In 2021 Q3
Twitter said Tuesday it had posted a $537 million net loss in the third quarter after settling a lawsuit alleging investors were misled about slowing user growth. Despite revenue rising…
Tesla Major Investor Has Made $6 Billion On His Investment
Major Tesla investor Ron Baron on Wednesday said that he’s made $6 billion on his investment into the electric automaker and plans to remain a shareholder for at least another…
Amazon Invest In Three More Start-Ups
Amazon said Wednesday it’s investing in three more start-ups as part of its $2 billion Climate Pledge Fund. The Climate Pledge Fund, launched by Amazon last June, is designed to…
How ENaira Will Affect Banking Sector -Economists
Economists have said that the e-Naira, when rolled out, will have far-reaching implications for the future of the banking sector in Nigeria. The experts, in separate interviews, said whether the…
Oil Drops Ahead Of Stocks Data, Iran Talks
Oil prices edged lower on Tuesday after rising earlier in the day and analysts said prices were set to sustain a rally driven by strong demand in the United States,…
Nigeria’s Per Capita Income Static In 40 Year – World Bank
The World Bank made a startling revelation that Nigeria’s per capita income (PCI) has not improved in the last 40 years as it remained static since 1981. World Bank’s Country…