CBN And SEC Sanction Five Banks For Various Infractions
The Central Bank of Nigeria and the Securities and Exchange Commission have sanctioned five major banks for committing over 20…
Month: November 2021
FG Hopeful Dangote Petroleum Refinery, NNPC, And Other Modular Refineries Will Meet Nigerians PMS Demand
The 650,000bpd Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) and other modular refineries are expected to be the major…
Nigerian Sovereign Investment Authority Allocation To Be Blocked By House Of Rep Finance Committee
The House of Representatives’ Committee on Finance has vowed to block allocation to Nigerian Sovereign Investment Authority if it fails…
Tesla Recalls U.S Vehicles Sold Since 2017 Due To Communication Error
Tesla Inc is recalling nearly 12,000 U.S. vehicles sold since 2017 because a communication error may cause a false forward-collision warning or…
Elon Musk To Help Fight World Hunger With $6 Billion But With A Clause
Elon Musk is now worth more than $300 billion, and he’s apparently ready to start spending. The Tesla and SpaceX CEO —…
Chip Shortage Force Apple To Substitute Production Of Ipad Tablet For Iphone 13
Apple has cut back production of iPad tablets to allocate more components to the iPhone 13, a sign the global…
Electric Vehicle Start-Up “Rivian Automotive” Targets $54.6 Million
Electric vehicle start-up Rivian Automotive is targeting a market valuation of as much as $54.6 billion in its upcoming initial…
E-Naira:Phone Application For People Without Bank Account To Be Release Soon
The Chief Executive Officer of Bitt Inc., Brian Popelka, has said a phone application for people without bank accounts will…
Federal Government To Ensure The Reduction Of Insider Abuse Of Nuclear Assets
The federal government, through the National Atomic Energy Commission (NAEC), has underscored the need to ensure the reduction of insider…
Facebook Launch Programme Themed “My Digital World” In Sub-Saharan Africa Countries
Facebook has announced the launch of the 2021 edition of a digital literacy programme aimed at equipping young people and…
Introduction Of Hostile Economic Policies Drops Nigeria Volume Of Import Via Benin Republic By 95%
The volume of imports into Nigeria through its neighbor, Benin Republic, has continued on a downward slide through July and…
FRC Vows To Deal With Banks That Gives Loan To Government And Agencies Without Due Process
Fiscal Responsibility Commission has vowed to engage the services of the Independent Corrupt Practices and Other Related Offences Commission and…
Power Generation In Nigeria Dropped From 4,224.9MW To 3,844.3MW
Power generation in Nigeria dropped from a peak of 4,224.9MW on Sunday to 3,844.3MW by 6am on Monday, data obtained…
SEC Urge Stockbrokers To Create Innovative Financial Products
The Securities and Exchange Commission (SEC) has urged operators to create innovative financial products that would support businesses, boost market…
Nigeria Routes Airfares Surge Higher
The lingering shortage of foreign exchange in Nigeria has forced the naira to crash against the United States dollar on…
Equities Market Resumes November Trading On A Downturn Note
The equities market resumed trading for the month of November on a downturn note yesterday, as market capitalisation declined by…
Transnational Corporation of NigerIs Q3 Profit Before Tax Rises By 671 Percent
Transnational Corporation of Nigeria Plc has said its profit before tax rose by 671 per cent in the third quarter…
Tesla Is Yet Sign A Contract With Rental Car Company “Hertz”: Elon Musk
Tesla CEO Elon Musk said on Monday night that his electric vehicle company has yet to sign a contract with…
ByteDance’s Finance Chief To Step Down And Focus On Role As Tiktok CEO
TikTok owner ByteDance’s finance chief will step down to focus on his role as CEO of the short video app,…
Canadian Dollar Steadies As Speculators Turn Bullish On The Currency
The Canadian dollar barely moved against its U.S. counterpart on Monday as data showed speculators turning bullish on the currency…
Insecurity, Others Cut Nigeria’s Foreign Investments To $875m, Lowest In 5 Years
The spate of security crises, a tough business climate, and policy inconsistency are among the factors that cut Nigeria’s Foreign…
Oil Drops At Start Of Key Week As Biden Boosts Pressure On OPEC+
Oil fell as pressure mounted on OPEC+ to boost production when it meets this week and China released reserves of…
Oil Falls After China Releases Reserves Of Gasoline, Diesel
Oil prices fell on Monday after China said it released reserves of gasoline and diesel to boost supply, while investors unwound…
Manufacturers Lament Forex Crisis Impact On Raw Materials Import
Manufacturers have lamented the impact of foreign exchange (forex) crisis on importing raw materials. Speaking during the tour of Hayat…
Forex Volatility, Inflation Hampering Investor Confidence
The volatility of the dollar in the forex market is taking its toll on micro, small and medium enterprises (MSMEs),…
Roblox Restores Service After Outage That Lasted Three Days
Roblox restored its services Sunday following a major outage that lasted for three days. Roblox, an online platform which lets…
Central Bank of Nigeria Commence 100 For 100 Policy On Production And Productivity
The Central Bank of Nigeria has commenced the 100 for 100 Policy on Production and Productivity with the unveiling of…
China’s Yuan Steadies After Best Month In Five, Market Awaits Fed Meeting
China’s yuan steadied against the dollar on Monday after posting it biggest monthly rise in five in October, as investors…