Local FG pays $194m for Port Harcourt refinery, plans additional $98m, N17.2bn January 31, 2022 akintunde The Federal Government has processed $98m as partial payments for the ongoing rehabilitation of the Port Harcourt Refining Company. Advance payment of $194m which is 15% required for the rehabilitation…
Banking Local Trade FUGAZ investors gain over N4 billion combined during the week January 31, 2022 akintunde FUGAZ an acronym for the five biggest banks in Nigeria by market capitalization appreciated by 0.16% as investors in these banks gain a total of N4.33 billion during the trading…
Business World Credit Suisse Faces $45.5 Million Claim – Court January 31, 2022 akintunde Swiss prosecutors are pursuing around 42.4 million Swiss francs ($45.5 million) in compensation from Credit Suisse (CSGN.S) in a money-laundering trial due to begin on Feb. 7, the Swiss Federal…
Local Trade Nigeria’s forex inflow hits $55.5bn in seven months January 31, 2022 akintunde The country recorded a foreign exchange inflow of $55.5bn in seven months, data obtained from the Central Bank of Nigeria have shown. The rise in forex inflow was attributed to…
Local Stop introducing more taxes, financial experts urge FG January 31, 2022 akintunde Financial experts have urged the Federal Government to stop the introduction of more taxes because of the nation’s weak economy. They said this in separate interviews with the News Agency…
Africa Local Technology Knife Capital Backs HR Software startup’s latest round January 31, 2022 akintunde Wamly a one-way video interview software startup based in South Africa secures funding from local venture capital firm Knife Capital to help fund its international expansion plans. Founded in 2018…
Africa Local TIDE Africa II raises almost half its final goal with first close January 31, 2022 akintunde Africa-focused venture capital firm TLcom Capital, known to have made bets on Andela and Twiga, is raising $150 million for its second fund targeted at making early- and late-stage investments.…
Local Oikocredit makes loan to C&I solar provider January 31, 2022 akintunde Oikocredit has provided Ecoligo with a € 5 million loan for the purpose of solar energy growth used to power small and medium enterprises in Ghana and Kenya With our…
Local Market Naira Appreciates at Official Markets As FX Turnover Drops To Two-Week Low January 31, 2022 akintunde The exchange rate between the naira and the US dollar closed at N416/$1 at the Investors and Exporters (I&E) window, where forex is traded officially. Naira gained against the US…
Business Local Market World Amazon, AliExpress, Twitter, Zoom To Pay Tax On Profit Or Income Made In Nigeria January 31, 2022 akintunde The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. An NRC is a company not registered or incorporated…
Local AI Capital, Google, Others Back InstaDeep’s 9-Figure Series B January 31, 2022 akintunde A recent survey carried out by CNBC reported that 81% of executives worldwide say AI will play a notable role in business operations this year. Companies are phasing from the…
Africa Business Investing Local Eiffel Partners With Finergreen For African Renewable Energy Deals January 31, 2022 akintunde A new initiative will soon be launched in Africa to increase financing for renewable energy. It is a mechanism that will be set up by the Paris-based Eiffel Investment Group…
Banking Local Technology Manufacturers Association Urges CBN To Extend e-Invoice Implementation January 31, 2022 akintunde The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria (CBN) to extend the implementation of the E-invoice and E-evaluator initiatives by 90 days to accommodate inputs of…
Africa Business Investing Local Goodwell Leads Returning And New Investors For Copia’s Series C January 31, 2022 akintunde Goodwell Investments has led a $50m Series C equity round in Copia Global, a B2C e-commerce platform with a distribution solution to serve the rapidly growing 750 million middle and…
Business World U.S. Treasury Secretary Janet Yellen To Participate Remotely In February G20 Meeting January 31, 2022 akintunde U.S. Treasury Secretary Janet Yellen will participate in a February meeting of the G20 remotely because of a rise in the Omicron variant of the coronavirus, the U.S. Treasury Department…
Business Market World Macau Legend Shares Fall Over 20% After CEO’s Arrest January 31, 2022 akintunde Macau Legend reported Chan had been arrested in a statement to the Hong Kong stock exchange on Sunday, adding it did not expect any adverse impact from this on its…
Business World Pearson Buys Certification Company Credly January 31, 2022 akintunde Education group Pearson has agreed to buy the certification company Credly to expand its offering to businesses looking to train and retain workers at a time of tight labour markets…
Market World Asia Stocks Make Tentative Gains, Brent Tops $91 January 31, 2022 akintunde Asian shares swung higher on Monday as Wall Street futures stabilised, though tests loom ahead as UK interest rates are expected to rise this week and surging oil prices add…
Banking World Goldman Sachs Forecast Five Rate Hikes In Federal Reserve This Year January 31, 2022 akintunde Goldman Sachs is forecasting that the U.S. Federal Reserve will raise interest rates five times in 2022, versus four previously, with a hike expected in March, according to a note…
Banking Business World Employee Of Deutsche Bank’s “Postbank” To Stage Strike January 31, 2022 akintunde Some employees of Deutsche Bank’s Postbank will stage a strike on Monday to raise pressure on management to meet their demands for higher wages in the face of rising inflation,…
Crypto Local Binance Restricts 281 Nigerian Crypto Accounts To prevent fraud January 30, 2022 akintunde One of the largest cryptocurrency exchanges platform in the world Binance, restricts the accounts of 281 Nigerian users. According to Changpeng Zhao Binance’s CEO, the action was taken to prevent…
Africa Local Ghana Secured $7.33 Billion From Oil Production Since 2011 January 29, 2022 akintunde Ghana secured $7.33 billion dollars in revenue since it started commercial oil production in 2011. From the earnings, $6.02 billion was obtained from total liftings, whilst $1.32 billion came from…
Africa Investing Local Airtel Africa Top Nigeria Stock Exchange Capitalised Company January 29, 2022 akintunde Airtel Africa, a multinational telecommunications company, has surpassed Dangote Cement to become the most capitalised company listed on the Nigerian Exchange Limited (NGX). For the first time, Airtel Africa hit…
Business Local FG’s Marginal Oil-Field Awards: 33 Successful Bidders Lose January 28, 2022 akintunde Govt rakes in N174bn as other awardees make full, part payments A total of 128 awardees that emerged as successful bidders in the 2020 Marginal Field Bid Round have made…
Business Market World Chevron Report Fourth Quarter Profit January 28, 2022 akintunde Chevron Corp on Friday reported a fourth quarter profit, which missed estimates by analysts on weaker than expected oil and gas production that outweighed gains from recovering prices. Its shares…
Local FEC Receives NNPC 2022 Petrol Subsidy Bill January 28, 2022 akintunde The federal executive council (FEC) says it has received a bill of N3 trillion from the Nigerian National Petroleum Corporation (NNPC) as payment for petrol subsidy in 2022. This is…
Investing Market World Europe’s Tech Stocks Set For Biggest Monthly Drop In More Than 13 Years January 28, 2022 akintunde European technology stocks fell on Friday and was on track for its biggest monthly drop since the 2008 global financial crisis as investors sold growth stocks in January amid concerns…
Local Vantage provides mezzanine funding for real estate development January 28, 2022 akintunde The mezzanine fund manager announced today that it has arranged R430 million of mezzanine funding for the development of Seaton Estates. Seaton Estates is a residential coastal development located on…
Local Reps Ask CBN To Suspend E-Invoice Policy Implementation January 28, 2022 akintunde The house of representatives has asked the CBN to suspend the implementation of the recently launched electronic invoice for all import and export operations. The lawmakers hinged their reasons on…
Local WACOT to complete rice mill expansion project in 15 months January 28, 2022 akintunde WACOT Rice Nigeria Ltd has disclosed its ongoing expansion to double its 120,000-tonne rice mill in Kebbi State within the next 15 months. WACOT Rice Nigeria Ltd a subsidiary of…
