Tesla’s Musk Says He Will Pay Over $11 Bln In Taxes This Year
Electric-car maker Tesla Chief Executive Officer Elon Musk said on Sunday on Twitter that he will pay more than $11 billion in taxes this year. Earlier this week, Democratic U.S.…
Facebook Pays Fines To Russia Over Banned Content
Facebook has paid 17 million roubles ($229,643) in fines owed in Russia for failing to delete content Moscow deems illegal. The Interfax news agency reported on Sunday, but with the…
Togo, Benin, Niger Paid Nothing For Nigeria’s Power Supply, Says NERC
The Nigerian Electricity Regulatory Commission has said the Republic of Benin, Niger Republic and Togo made no payment for the electricity supplied to them from Nigeria in the second quarter…
Nigeria’s External Reserves Fall By $440m In Two Weeks
The nation’s external reserves fell by $440m in two weeks from $41.15bn at the start of this month, figures obtained from the Central Bank of Nigeria revealed on Friday. The…
CBN Approves Appointment Of Ahmad Abdullahi As FBNH Chairman
The Central Bank of Nigeria (CBN) has approved the appointment of Ahmad Abdullahi as non-executive director and chairman of First Bank Holding PLC.This follows the resignation Remi Babalola, former chairman…
FBN Holdings Notifies NGX, Investors Of Remi Babalola’s Resignation
FBN Holdings Plc has officially notified the Nigerian Exchange Ltd and the investing public of the resignation of Remi Babalola, its chairman and non-executive director. This is contained in the…
Naira Slides Ahead Of Yuletide, Exchange For 570/Dollar
The naira continued its downward trend as the dollar was sold for N570 in the parallel market on Tuesday. Some Bureau de Change Operators attributed the further fall in the…
UK Shares Head For Weekly Loss On Omicron Concerns, Inflation Risks
UK’s FTSE 100 slipped on Friday and was on course for a weekly loss, as concerns surrounding the fast-spreading Omicron variant and inflationary risks outweighed strong retail sales data. The…
S&P Dumps Chinese Property Giant Evergrande Into Default
The poster child of China’s property crisis China Evergrande Group was officially declared in default by credit rating agency S&P Global on Friday after the sprawling firm missed a bond…
Paxful Launch Gift Card Hub
Paxful has launched a gift card hub as a one-stop shop for trading gift cards on its platform. According to the company, this new feature allows users to list gift…
Fintech Firm Unveils Budgeting Solution
Fintrak Limited, an indigenous software development and financial technology firm, has launched a budgeting solution, called ‘FinTrak Budget Planning & Processing Control’, for businesses. The company said in a statement…
World Bank Rolls Out N329.53bn Cash Transfer Programme
The World Bank is rolling out an $800m (N329.53bn at official exchange rate) facility designed to fund a large-scale Conditional Cash Transfer programme in Nigeria, the Nigeria Governors’ Forum hinted…
Access Bank’s Shareholders Approve Proposed Holdco Structure
Shareholders of Access Bank Plc have given the nod for the bank to proceed with its proposed restructuring into a Holding company status. Access Bank Plc had last week announced…
FG To Stop Customs From Revenue Collection
The Federal Government has proposed a legislative framework that would stop the Nigerian Customs Service (NCS) from revenue collection, saying the role was a distraction to the service. According to…
We’ve Uncovered Fresh $72.8m Linked To Diezani – EFCC
The Economic and Financial Crimes Commission (EFCC) says it has discovered a fresh sum of $72.87 million allegedly linked to Diezani Alison-Madueke, a former minister of petroleum resources. The development…
Uber looking to sell Didi, China market has little transparency, CEO says
Uber Technologies Inc (UBER.N) is looking to sell stakes in non-strategic assets, including its stake in Didi Global Inc, based in Beijing (DIDI.N). The American company exited China in 2016…
Bank Of England Raises Interest Rate To 0.25%
The Bank of England raised its main interest rate to 0.25% on Thursday as inflation pressures mounted in Britain. Most economists polled by Reuters had expected the BoE to keep…
Jack Dorsey Appoints Three Nigerians And A South African To Head Bitcoin Trust Fund Board
Twitter founder, Jack Dorsey, has appointed three Nigerians and one South African to act as the board of his Bitcoin Trust (BTrust) fund which will be disbursed for development in…
FG Approves €62m To Procure Transformers For Siemens Power Project
The federal executive council (FEC) has approved $1.9 million and €62.9 million for phase one of the presidential power initiative (PPI). PPI is a power upgrade and modernization programme between…
Reps approve fresh $5.8bn loan, $10m grant for FG
On Tuesday, the House of Representatives approved external borrowings amounting to $5,803,364,553.50 and a grant of $10,000,000 for the Federal Government as part of the proposed 2018–2020 External Borrowing (Rolling)…
World Bank announces $93bn package for Nigeria, 73 others
On Wednesday The World Bank announced a $93bn replenishment package of the International Development Association to help 74 low-income countries respond to the COVID-19 crisis and build a greener, more…
Africa should be exempted from zero-carbon emissions target’
PUTTRU Technologies Limited has said Nigeria and other African countries should be exempted from the net-zero carbon emissions target of 2050. In a statement released by The digital energy platform…
FG generated N86bn from TSA in 10 months – Minister
The Honorable minister of Minister of Finance, Budget and National Planning Her excellency Zainab Ahmed, has said the Federal Government generated N86bn through the Treasury Single Account between January and…
Senate okays Buhari’s request on fresh $5.8bn borrowing
On Wednesday the senate approved a loan request of $5.8bn and a grant of $10m under the 2018-2020 External Borrowing (Rolling) Plan of the Federal Government, made by the President,…
FEC Okays Startup Bill ‘To Provide Enabling Environment’ For Entrepreneurs
The federal executive council (FEC) has approved the Nigeria startup bill to provide a conducive environment for entrepreneurs. Isa Pantami, minister of communications and digital economy, disclosed this on Wednesday…
Reddit Confidentially Files With U.S. Securities And Exchange Commission To Go Public
Social media platform Reddit said on Wednesday it had confidentially filed for a proposed initial public offering (IPO) with the U.S. Securities and Exchange Commission. Reddit, known for its message…
Lack Of Seamless Access To Forex May Delay 5G Rollout
The Chairman, ALTON, Gbenga Adebayo, had disclosed at the NCC’s 2021 board and management retreat in November that one of the problems plaguing the telecoms industry was a lack of…
Netflix Slash Prices Of It’s Streaming Services In India
Netflix slashed on Tuesday the prices of its streaming services in India, for the first time since launching five years ago in the South Asian nation, as it moves to…
NBS Says Inflation Dropped Despite Increase In Prices
The inflation rate in Nigeria fell in November to 15.40 per cent (year-on-year), the lowest since December last year, according to the National Bureau of Statistics. The NBS, in its…
MTN Shares: Shareholders Call For Extension
Shareholder groups of MTN Nigeria have called on the management of the company and the Securities and Exchange Commission (SEC) to extend the telco giant’s Public Offer, which closed yesterday,…