Local IMF: Dangote Refinery, Supportive Credit Facility, Can Accelerate Nigeria’s Economic Recovery Process February 18, 2022 akintunde The International Monetary Fund has noted that the non-oil sector of the Nigerian economy could be stronger, benefitting from its recent growth momentum, higher production from the new Dangote Refinery,…
Banking Finance Local Banks Loan To Private Sector Surged By N5.58 Trillion In 2021 February 17, 2022 akintunde Banks credit to the private sector hit its highest level in December 2021, reaching N35.73 trillion from N30.15 trillion recorded as of December 2020, representing a N5.58 trillion increase in…
Market World Investors Turn To Gold As Stock Stumbles February 17, 2022 akintunde Stock markets fell on Thursday after Russian-backed separatists and Ukrainian government forces accused each other of firing shells, sending traders to seek safety in government bonds and pushing gold prices…
Local NETCO boss unveils three books on fuel scarcity, others February 17, 2022 akintunde The Managing Director, National Engineering and Technical Company Limited, Mr Johnson Awoyomi, has launched three new books on the Nigerian oil and gas industry. According to a statement, the books…
Local CIA elects new president, inducts 170 members February 17, 2022 akintunde The Chartered Institute of Administration says it has elected a new President/Chairman of Council. According to a statement by the professional body, the election held in line with the provisions…
Local Marketers resolve to blend dirty fuel, scarcity persists in states February 17, 2022 akintunde Oil marketers have resolved to start blending over 100 million litres of adulterated PMS imported into Nigeria over two weeks ago. NNPC had yet to recall all the contaminated PMS,…
Local Oil investment in Nigeria now at record low – Report February 17, 2022 akintunde Oil and gas investment in Nigeria, Africa’s biggest producer, has fallen to a record low, even as the country’s production outlook has not appeared as uncertain as it does now,…
Business Local Electricity Gulps 50% Of MSMEs’ Profits, Says NCEEC February 17, 2022 akintunde The National Centre for Energy Efficiency and Conservation, University of Lagos, has said electricity consumes about 50 per cent of the profits of micro, small and medium enterprises in Nigeria.…
Business Local Market ‘Only 10% Of Nigerian Farmers Engage In Mechanised Farming’ February 17, 2022 akintunde The National Chairman of Tractor Owners and Hiring Facilities Association of Nigeria, Danladi Garba, on Wednesday, lamented that only 10 per cent of Nigerian farmers engage in mechanised farming. Garba…
World Chinese Businessman Guo Wengui Files For Bankruptcy In U.S. Court February 16, 2022 akintunde Chinese businessman Guo Wengui, also known as Ho Wan Kwok, filed for individual bankruptcy protection in a U.S. bankruptcy court in Bridgeport, a court filing showed. Guo listed assets in…
Technology World Apple Shareholder ISS Urges To Vote Against CEO Cook’s Bonus February 16, 2022 akintunde Proxy advisory firm Institutional Shareholder Services (ISS) urged Apple Incinvestors to vote against Chief Executive Officer Tim Cook’s remuneration, citing concerns around the magnitude and structure of his equity award.…
Engineering Local PAN dumps Peugeot after over 40 years February 16, 2022 akintunde PAN Nigeria Limited says it has dropped Peugeot assembly plant and opted for two Chinese brands, Chery and Higer. The auto company dismissed reports that its Kaduna State-based factory has…
Opinion Experts tell FG – Seek debt moratorium to reduce debt profile February 16, 2022 akintunde Economic experts have urged the Federal Government to seek a debt moratorium to reduce the cost of funds expended on debt servicing. They said this in separate interviews with the…
Local Maritime workers begin strike March 1, vow to ground port operations February 16, 2022 akintunde The Maritime Workers Union of Nigeria have concluded plans to ground port operations of the International Oil Companies The union described the international oil companies as non-compliance with the Extant…
Finance Local Fintech firm to launch financial services marketplace February 16, 2022 akintunde PayPassage is a digital transaction solutions provider set to launch its financial services platform in Nigeria. The financial services platform would offer digital financial solutions to help drive the financial…
Local World World Bank economist warns countries against excessive borrowing February 16, 2022 akintunde Delays in dealing with the growing debt burden in poor countries seem unlikely to be resolved by the G20, a top World Bank official warned. As interest rates are starting…
Local Buhari appoints Bello-Koko substantive NPA’s managing director February 16, 2022 akintunde President Buhari has approved the appointment of Mohammed Bello Koko as the substantive managing director for the Nigerian Ports Authority. This was contained in a press statement signed by the…
Local World EU Pledges €44 Million To FG’s Jubilee Fellows Scheme For Young Graduates February 16, 2022 akintunde The European Union has announced a pledge of €44 million for Nigeria’s Jubilee Fellows Programme (NJFP). A youth empowerment partnership initiative between the Federal Government of Nigeria and the United…
Engineering Local COREN moves to reposition engineering education February 16, 2022 akintunde The Council for the Regulation of Engineering in Nigeria said it is adopting an Outcome-Based Education (OBE) system in the training of a new set of engineers in the country…
Banking Local Bankers In Nigeria May Declare Assets As Senate Moves To Amend 35-Year-Old BEDA Act February 16, 2022 akintunde The senate on Tuesday considered a bill seeking to amend the 35-year-old Bank Employees Declaration of Assets (BEDA) Act 1986. Ezrel Tabiowo, special assistant (Press) to the senate president, said…
Business Technology World Flutterwave Now Worth Above $3bn After Securing Fresh $250m Funding February 16, 2022 akintunde Flutterwave says it has raised another $250 million in Series D funding, valuing the company at over $3 billion as the brand continues to transform the way Africans transact on…
Crypto World Bitcoin Spikes To $44,500 Amid Fresh Warning Over ‘Exceptionally High’ Stocks Correlation February 16, 2022 akintunde Bitcoin (BTC) passed $44,500 at the Wall Street open on Feb. 15 with traders compounding overnight enthusiasm. Data tracked local highs of $44,543 for BTC/USD on Bitstamp. Already up over…
Advertisement Local NRC, firm unveil railway advertising platform February 16, 2022 akintunde The Nigeria Railway Corporation, in collaboration with B2YB, an advisory and consultancy firm, has launched its advertising platform to promote visibility for brands around train stations. The NRC appointed B2YB…
Local FG, Ogun distribute free CAC certificates to MSMEs February 16, 2022 akintunde Federal Government in partnership with Ogun State Government commenced the distribution of free Corporate Affairs Commission certificates. The distribution was targeted towards over 6,500 successful Micro, Small and Medium Enterprises.…
Business Technology World Ericsson Shares Fall 9% On Iraq Corruption Probe February 16, 2022 akintunde Shares of Ericsson fell 9% on Wednesday after the Swedish telecom gear maker disclosed results of an internal investigation that detailed suspect payments and misconduct in Iraq. The company’s investigation…
Business Technology World Facebook To Pay $90 Million To Settle Privacy Lawsuit February 16, 2022 akintunde Facebook agreed to pay $90 million to settle a decade-old privacy lawsuit accusing it of tracking users’ internet activity even after they logged out of the social media website. A…
Business Market World Inflation Hits Louis Vuitton, Price Tags Going Up February 16, 2022 akintunde Louis Vuitton, LVMH’s top fashion brand, will raise prices globally on Wednesday as a result of increased manufacturing and transportation costs. A spokesperson for the French luxury goods company disclosed…
World U.S. Actor Zack Avery Steals $650M From Investors February 16, 2022 akintunde American actor Zachary Horwitz, professionally known as Zach Avery, swindled investors of $650 million in a huge Hollywood Ponzi scheme. And he used the money to lead a lavish lifestyle,…
Business World Virgin Galactic Stock Rises As Spaceflight Ticket Sales Open With $150,000 Deposit February 15, 2022 akintunde Space tourism company Virgin Galactic announced Tuesday that it will open ticket sales to the public on Wednesday, requiring a $150,000 deposit. Virgin Galactic ticket prices start at $450,000 each,…
Business Local BOI Raises €700m Eurobond To Help Businesses With Financial Supports February 15, 2022 akintunde The Bank of Industry (BOI) has raised a €700 million eurobond to provide funding for the growth of businesses in Nigeria. According to a statement by Rand Merchant Bank (RMB),…
