FMN, Honeywell Flour Mills Merge Under N80billion Shares Transfer Deal
Flour Mills of Nigeria Plc (FMN) and Honeywell Group Limited On Monday announced that they have signed an agreement for…
Day: November 22, 2021
Illiquidity: BMBs, Merchant Banks Borrow N215.7bn From CBN In One Week
Following scarcity of liquidity in the interbank money market, banks and merchant banks borrowed N215.7billion from Central Bank of Nigeria…
Forex Row Threatens Fuel Supply, Price Stability
The lingering row between private depot owners and the Federal Government over dollar payment of dues and levies is set…
OPEC+ Exceeded Quota By 116% In October As Nigeria, Angola Underperformed
The compliance by members of the Organisation of Petroleum Exporting Countries (OPEC) and their allies known as OPEC Plus (OPEC+)…
KKR Buyout Offer Sends Telecom Italia Shares Surging 27%
Telecom Italia shares jumped more than 27% on Monday morning after U.S. private equity giant KKR launched a 10.8 billion…
Leadway Pensure’s Shares In First Bank Belong To RSA Holders – PenCom
Funds invested in First Bank Holdings Ltd (FBNH) by Leadway Pensure Ltd belong to retirement savings account (RSA) holders, the…
South African Airways To Resume Lagos Flights December — After 18-Month Suspension
South African Airways (SAA) has announced the resumption of flight operations on its Johannesburg-Lagos route. The airline had suspended commercial…
Naira Falls By 2.8% To N545/$1 At Parallel Market
The naira, on Friday, depreciated against the dollar at the parallel section of the foreign exchange market. Bureaux De Change…
Report: Kano Generated N24bn VAT In Eight Months — More Than All South-East States
The total value-added tax (VAT) generated by the Kano state government in the first eight months of 2021 was higher…
Canada Approves Pfizer-BioNTech Jab For Kids From Age 5
Canada has approved the Pfizer-BioNTech coronavirus vaccine for children between the ages of five and 11. It’s the first jab…
Aruwa Capital Invests In Pngme
Aruwa Capital Management, an early-stage growth equity and gender lens fund, has invested in Pngme, a Nigerian financial technology company.…
El Salvador President Plans ‘Bitcoin City’ Financed By Crypto Bonds
President Nayib Bukele said El Salvador plans to build the world’s first “Bitcoin City”, powered by a volcano and financed…
VoxCroft Analytics Raises Series A From Knife Capital
VoxCroft Analytics, an open-source intelligence and risk analytics venture with operations in South Africa and the US, said Thursday it…
Chinese Internet Giant Tencent Invests In Fintech OZOW’s Series B
According to a 2019 report by Deloitte, about 80% of South Africans have a bank account but only 24% of…
UKCI And Norfund Fund JV’s Equity Participation In Wind Farm Portfolio
Cape Town-based investment firm H1 Holdings, which has inked a joint venture with an independent power producer in South Africa,…
Trade Deficit Declined To $340m In July – CBN
Nigeria’s trade deficit declined to $340m in July from $2.4bn in June, figures obtained from the Central Bank of Nigeria…
Amethis’s MENA Fund II Buys Minority Stake In Tarjama
Africa-focused private equity firm Amethis said Tuesday it has made its second investment from the new fund that invests in…
Analysts See Nigeria’s Inflation Rate Rising In Nov, Dec
Amid the steady decline in headline inflation rates over the past few months, analysts have predicted an uptrend for the…
Drug Dealer Behind Cocaine Hidden In Lagos Airport Toilet Arrested – NDLEA
The National Drug Law Enforcement Agency (NDLEA) says it has arrested a Brazil based drug dealer, Okafor Moses in connection…
Remittances To Nigeria, Others Grow 7.3% To $589b
Remittances to low- and middle-income countries are projected to have grown a strong 7.3 per cent to reach $589 billion…
Seven Banks Rake In N403.6bn From Fees, Commissions
Seven deposit money banks in Nigeria generated the sum of N403.6bn in nine months from fees and commissions, 24.7 per cent…
The Apple Car Is Coming And Tesla Had Better Watch Out
Apple Inc. venturing into cars might shake up the electric vehicles market in the same way the iPhone revolutionized the…
FG Begins 10,000MT Wheat Cultivation To Cut Imports
The Federal Government has announced the commencement of dry season wheat cultivation to produce 10,000 metric tonnes of the commodity and…
Agric Fund Diversion May Attract Five-Year Jail Term – CBN
The Central Bank of Nigeria has said borrowers who divert the funds provided under the Agricultural Credit Guarantee Scheme may…
UK To Require Charge Points For Electric Vehicles In New Buildings
Charging points for electric vehicles will be required to be installed in new buildings in Britain from next year under…
India Police Charge Amazon Execs In Alleged Marijuana Smuggling Case
Indian police said on Saturday they had charged senior executives of Amazon’s local unit under narcotics laws in a case…
Net Forex Inflow Rose To $2.77bn July, Says CBN
The net foreign exchange inflow into the Nigerian economy rose slightly to $2.77bn in July from $2.27bn in June, the…
Firm Launches Global Lottery Game In Nigeria
MegaMillions Naija has launched a global jackpot lottery in Nigeria to drive access to lottery games that will give the…
CBN Orders Farmers To Insure ACGSF Loans
The Central Bank of Nigeria has said farmers must have an insurance cover for loans to be disbursed to them…
Investors Lose N18bn As 49 Stocks Drag Market Lower
Investors in the equities market of the Nigerian Exchange Limited saw an N18.05bn weekly loss at the end of trading…