Delta Airlines Records Surge In Bookings As US Opens Up
Delta Air Lines says it will be increasing flights from key European cities into the United States following the reopening of American borders to fully vaccinated passengers. A statement by…
UNICEF, Jumia Plan Internet For Nigerian Schools
The United Nations Children’s Fund and Jumia, an African e-commerce platform, have partnered in support of Giga’s work in Nigeria to connect every school to the Internet and every young…
Crypto Firms Practise High-Level Illegality, Alleges Emefiele
The Governor of the Central Bank of Nigeira, Godwin Emefiele, has again expressed the apex bank’s disapproval for cryptocurrency transactions in Nigeria, saying the space and its operators are “embedded…
ENaira May Reduce Deposits In Commercial Banks, IMF Warns CBN
The International Monetary Fund has said the eNaira wallet may function as a deposit at the Central Bank of Nigeria and consequently reduce demand for deposits in commercial banks. The…
Microlenders Leverage Cloud Software To Tackle Rising Default Rate
Amid the growing rate of default in the micro-credit ecosystem, Configure, a bank-level core lending platform that enables users to build, launch, and manage any type of loan product end-to-end,…
BoI: We Disbursed N1trn Loans To Over 327,000 Businesses In Five Years
The Bank of Industry (BoI) says it has disbursed N1 trillion worth of loans to over 327,000 micro, small and medium enterprises (MSMEs) and large businesses in the last five…
Evergrande Chief’s Luxury Assets In Focus As His Company Scrambles To Pay Debts
As developer China Evergrande Group scrambles to meet its debt obligations, its founder is freeing up funds from luxury assets including art, calligraphy and three high-end homes, according to filings…
Alleged Importer Of Fake Tramadol Gets N10m Bail
A Federal High Court sitting in Lagos, on Monday, granted a N10 million bail to a 43-year-old businessman, Afamefuna Udensi, charged with alleged importation of fake Tramadol. The News Agency…
States Get Reduced Rate On Loans, N656bn Bridging Facility
The federal government has cut down to 5 per cent, the interest rate on intervention facilities to state governments in addition to a bridging facility of N656.1 billion in a…
EFCC Drags CEO To Court Over $100m Fraud
Economic and Financial Crimes Commission (EFCC) has dragged the Group Managing Director (GMD) of an oil marketing firm, Triumph Oil and Gas Madagascar Nigeria Limited, Ibrahim Olanrewaju Mahmud to court…
Vodafone Raises Free Cash Flow Guidance After ‘Solid’ First Half
Mobile operator Vodafone raised its forecast for this year’s free cash flow on Tuesday after it reported 6.5% growth in adjusted core earnings in its first half, driven by a…
Tesla’s Musk Sells $930 Million In Shares To Cover Stock Option Tax – Filings
Tesla CEO Elon Musk has sold $930 million in shares to meet tax withholding obligations related to the exercise of stock options, U.S. securities filings showed on Monday. Musk sold…
U.S. States File Updated Antitrust Complaint Against Alphabet’s Google
A group of U.S. states led by Texas have filed an amended complaint against Alphabet Inc’s Google accusing the tech giant of using coercive tactics and breaking antitrust laws in…
Poverty Rate In Most North-East States Is 70% – World Bank
The World Bank has put poverty rate in most states of the North-East at 70 per cent, adding that the region suffers from severe climate crisis and conflict which are…
Keystone Bank Denies Reports On Its Meeting With Reps Committee On Recovery
Keystone Bank Limited has said that reports in some sections of the online media on its meeting with the House of Representatives Ad Hoc Committee on Assessment and Status of…
ALERT: Iranian Hackers Targeting Telcos In Nigeria, NCC Warns
The Nigerian Communications Commission (NCC) has alerted Nigerians about the existence of a hacking group orchestrating cyber espionage in the African telecoms space. An Iranian hacking group known as Lyceum…
Dave Chappelle For Gender Realism
How does a millionaire celebrity comedian with a boatload of awards retain his subversive edge? The great Richard Pryor solved the problem in the 1970s and 1980s by ever more…
Amazon Settles With California Over Claims It Concealed Covid-19 Cases From Warehouse Workers
Amazon on Monday reached a settlement with California’s attorney general over claims it concealed Covid-19 case numbers from its warehouse workers. The company has agreed to notify warehouse workers within…
Large-Cap Stocks Drag Market Lower, Investors Lose N11.83bn
The Nigerian equities market started the week on a negative note as declines in some large-cap stocks saw the market closing lower by N11.83bn at the end of trading. The…
Insurance Firms Rake In N2.1tn Premiums In Five Years – Report
Nigerian insurance companies earned a total gross premium of N2.1tn between 2016 and 2020, according to figures obtained from the Nigerian Insurers Association on Monday. The data showed that the…
Four Banks Borrow $6.21bn From Foreign Market Amid Dollar Shortage
In a bid to support their balance sheets with foreign exchange, four banks in the country raised $6.21bn from foreign creditors between January and October 2021. An analysis of reports…
JPMorgan Sues Tesla For $162 Million In Warrants Dispute Around Elon Musk Take-Private Tweets
JP Morgan Chase filed suit against electric vehicle maker Tesla in a dispute over warrants, according to court filings out Monday. The bank is seeking $162.2 million plus interest, attorneys’…
Bitcoin Drops Nearly 7% Toward $60,000 As Major Cryptocurrencies Plunge
Bitcoin and other cryptocurrencies fell sharply on Tuesday retreating from near-record highs. Bitcoin fell toward $60,000 during late morning trade Singapore time, according to CoinDesk data. It recovered some of…
CBN: Bridging Unbanked Space, Stimulating Digital Transactions
When the Central Bank of Nigeria (CBN) mooted the idea of the e-Naira in 2017 as part of the CBN Governor, Godwin Emefiele’s initiatives to strongly position the national currency…
FG To Review 41-Year-Old Map Of Nigeria
The Federal Government has concluded plans to review the current map of Nigeria, which was produced by the Canadian Government in 1970. Besides, the exercise will enable the country have…
Nigeria’s Inflation Rate Drops To 15.99% — Seventh Consecutive Decline In 2021
The consumer price index (CPI), which measures the rate of change in prices of goods and services, declined for the seventh consecutive time to 15.99 percent in October 2021. The…
WeWork Shows More Losses In Its First Quarterly Report As A Public Company
WeWork shares were up more than 2% Monday after the company announced third-quarter earnings, the company’s first report since going public in October. Total revenue for the quarter was $661…
Nigeria Home To 9,100 Dollar-Millionaires, Worth $207 Billion
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and a combined total wealth of approximately $207 billion, as at…
Burger King Parent Restaurant Brands International Buys Firehouse Subs For $1 Billion
Burger King parent Restaurant Brands International announced Monday it bought Firehouse Subs for $1 billion. Shares of the restaurant conglomerate rose more than 1% on the news. The stock has…