Unilever Nigeria Recorded N58.7 Billion Q3 Turnover
Unilever Nigeria Plc has said it recorded a turnover of N58.7bn in the third quarter of 2021, compared to N44.7bn in the corresponding period in 2020. The company said this…
Foreign Exchange Payment For Estacodes And Personal Travel Allowances Amount To $3.95 Billion
The amount of foreign exchange used for the payment of estacodes and Personal Travel Allowances to Ministries, Departments and Agencies as well as to fund Bureaux De Change operations was…
MTN Nigeria And Airtel Africa Plc Can Now Operate Payment Service Bank
MTN Nigeria and Airtel Africa Plc have received approval in principle to operate a payment service bank (PSB) in the country. The two leading telcos disclosed in regulatory filings on…
Telecommunications Operators Request NCC To Reduce Price Set For 3.5GHz Spectrum Auction
Telecommunications operators have called on the Nigerian Communications Commission (NCC) to reduce the $197.4 million (N75 billion) reserve price set for the planned auction of the 3.5GHz spectrum. They disclosed…
Polish E-Commerce Group Agrees To Buy Czech Online Retail Store
Polish e-commerce group Allegro has agreed to buy Czech online retailer Mall Group for 881 million euros ($1.02 billion) to create a regional platform in what would be its first…
Blue Origin Lawsuit Against NASA Got Rejected By Federal Judge
A federal judge on Thursday rejected a lawsuit by Jeff Bezos’ space company Blue Origin against the U.S. government over NASA’s decision to award a $2.9 billion lunar lander contract…
Uber Reported First Operating Profit As Driver Shortage Eases
Uber Technologies on Thursday reported its first profitable quarter on an adjusted basis since it launched more than a decade ago with its two most important segments, ride-hailing and restaurant…
Apple To End Mask Mandate In Some US Retail Stores
Apple will remove its mask mandate for customers at many U.S. retail stores from Friday as COVID-19 cases decline. More than 100 of the company’s about 270 stores across the…
Chip Shortage Is Hitting Hardware Development: Nintendo
Japan’s Nintendo Co Ltd said on Friday that a global chip shortage which forced the firm to scale back expectations for sales of its hit Switch device is also hitting…
Australia’s High Court Refuse Johnson & Johnson Appeal
Australia’s High Court on Friday refused to hear an appeal that Johnson & Johnson sought to overturn a federal court ruling that its subsidiary, Ethicon, had sold defective pelvic mesh…
Chinese Markets Dragged On Asian Shares While Dollar Stands Tall
Chinese markets dragged on Asian shares on Friday as they failed to latch on to a global record-setting rally after a week in which central banks around the world refrained…
Facebook Test For Creator Of Facebook Group To Earn On Exclusive Access
Facebook is testing ways for creators to make money through Facebook Groups, such as users paying fees for exclusive access to content or conversations within subgroups, the company said on…
German Industrial Production Fall By 1.1 Percent Unexpectedly
German industrial production unexpectedly fell in September, official data showed on Friday, as supply bottlenecks for raw and preliminary materials continued to take a toll on output in Europe’s biggest…
Alphabet Invest $1 Billion In CME Group
Alphabet, Google has invested $1 billion in CME Group and has struck a separate deal to move the futures exchange operator’s trading systems to the cloud, the companies said on…
Alleged Deduction Of N1.1 billion From 2021 Culture and Tourism Budgetary Allocation To Be Investigated
The house of representatives committee on culture and tourism says it will investigate the alleged deduction of N1.1 billion from the 2021 budgetary allocation for culture and tourism. The committee…
Agribusiness Company “Olam” To Produce 240,000 Metric Tonnes Of Rice
Olam Nigeria Limited, an agri-business company, has announced plans to increase its production capacity to 240,000 metric tonnes of rice paddy per annum from the present 120,000mt. Anil Nair, senior…
FG To Safeguard Nigeria’s Digital Economy While Building Stakeholders Trust
The Federal Government has renewed its plans to safeguard Nigeria’s digital economy from cybercrimes while building more trust among strategic stakeholders in the country. The Executive Vice Chairman, Nigerian Communications…
Spectrum Auction For 5G Services To Hold On 13 December
The Nigerian Communications Commission (NCC) says the upcoming spectrum auction for 5G services will hold December 13, 2021. Oluwatoyin Asaju, director of spectrum administration at Nigerian Communications Commission (NCC), announced…
Nigeria Customs Service Get FG Approval Of N1.5 Billion For Procurement Of 46 Vehicles
The federal executive council has approved N1.5 billion for the procurement of 46 vehicles for the Nigeria Customs Service Clement Agba, minister of state for budget and national planning, announced…
United Kingdom Became The First Country To Approve Anti-Covid Pill
Britain on Thursday approved the use of Merck’s antiviral pill to treat patients suffering from mild to moderate coronavirus infections, the Medicines and Healthcare products Regulatory Agency (MHRA) announced. “Today…
N5.7 Trillion Spent For Darkness Eight Years After Privatisation In Nigeria
In what most industry players and consumer right groups, yesterday, described as payment for darkness, Nigerians, in the past eight years, have spent about N5.7 trillion on the supply of…
Federal Government Begins Clamp Down On Banks Aiding ‘Fiscal Carelessness’ Of States
The Federal Government may begin to clamp down on banks and other financial institutions aiding “fiscal carelessness” by granting loans to some states without regard to due process. Executive Chairman…
Debt Management Office To Issue N250Billion Sukuk Bond
The Debt Management Office (DMO) says it will issue about N250 billion Sukuk to finance road projects.The DMO said this in a statement released on Tuesday. The Sukuk is a…
Qualcomm Diversification Effort For Chip Portfolio Pay Off
Qualcomm Inc on Wednesday forecast better-than-expected profits and revenue for its current quarter on soaring demand for chips used in phones, cars and other internet-connected devices. The San Diego company,…
Square Shareholders Approves Issuance Of New Shares
Square Inc shareholders have approved the issuance of new shares for the U.S. company’s $29 billion purchase of Afterpay Ltd, bringing Australia and the buy now, pay later sector’s largest…
NCC Assures Of Renewed Commitment To Collaborate With Industry Stakeholders
The telecoms industry regulator, Nigerian Communications Commission (NCC), has assured Nigerians of its renewed commitment to collaborate with industry stakeholders in focusing on the next frontier for the telecoms sector…
Nigeria Stock Exchange: Trading Of Financial Derivatives Will Assist In Developing The Economy
The Nigeria Exchange Limited (NGX) has stated that trading of financial derivatives in Nigeria through the organised exchange will play a pivotal role in developing the nation’s bourse and the…
Nigerian National Petroleum Corporation Contribution To Federation Account Dropped By N13 Billion
The total contribution of the Nigerian National Petroleum Corporation (NNPC) to the federation account dropped by N13 billion in September 2021. The Corporation made this known in a document detailing…
CBN: Nigeria’s External Reserves Increase By $5.05 Billion
Nigeria’s external reserves rose by $5.05bn in October, the latest data from the Central Bank of Nigeria showed on Wednesday. The reserves increased from $36.78bn on September 30 to $41.83bn…