Africa Business Commodities Energy Ghana Cabinet Withdraws 15% VAT on Electricity February 5, 2024 Ekemini Uba The Ghanaian Cabinet has decided to retract the 15% Value Added Tax (VAT) on electricity in response to widespread public outcry and threats of nationwide industrial action. Sources close to…
Africa Business Commodities Market World COCOBOD Dismisses Reports on Cocoa Importation as “Misinformation” February 5, 2024 Ekemini Uba COCOBOD has refuted media reports regarding a leaked official letter purportedly approving the importation of 2,500 metric tonnes of cocoa beans from Cote d’Ivoire and Nigeria. In a statement dated…
Local Pres. Akufo-Addo Sends Condolence on the Passing of Namibian President February 5, 2024 Ekemini Uba President Nana Addo Dankwa Akufo-Addo has extended his condolences to the Government and people of Namibia following the passing of their President, His Excellency Hage Geingob. Geingob, who served as…
Banking Breaking Business Europe Finance World Iraq Bans Eight Local Banks from U.S. Dollar Transactions February 5, 2024 Ekemini Uba Iraq has implemented a ban on eight local commercial banks from conducting U.S. dollar transactions as part of efforts to mitigate fraud, money laundering, and other illicit uses of U.S.…
Breaking Business Finance Investing investment Local Stock Trade Shell PLC Returns $23bn to Shareholders February 2, 2024 Ekemini Uba Shell Plc, in a statement released by its Chief Executive Officer, Wael Sawan, announced that it returned $23 billion to shareholders in 2023. The company’s cash flow from operations (CFFO)…
Banking Breaking Business Currency Finance Local Trade CBN Sets $1m Minimum Share Capital Requirement for IMTOs February 2, 2024 Ekemini Uba The revised guidelines for the operation of IMTOs, officially released via the CBN’s website and signed by Dr. Hassan Mahmud, the Director of the Trade & Exchange Department has established…
Banking Breaking Business Commodities Finance Investing Local Market Stock Trade Bullish Trading on Stock Market, Gaining N902bn February 2, 2024 Ekemini Uba The stock market experienced a bullish resurgence on Thursday, resulting in a substantial gain of N902 billion. The All-Share Index and market capitalisation of the domestic bourse rose by 1.63…
Africa Asia Breaking Europe Local Technology World Delta Air Lines Ranks 11th on 50 Most Admired Companies List February 2, 2024 Ekemini Uba Delta Air Lines has secured the 11th position on Fortune Magazine’s prestigious Top 50 Most Admired Companies list, making it the most admired company in the airline segment of the…
Banking Business Commodities Currency Finance Local Market Trade Banks Rush to Sell Excess FX Holdings Ahead of CBN Deadline February 2, 2024 Ekemini Uba Commercial banks in Nigeria were in a frenzy on Thursday as they worked tirelessly to offload their surplus foreign exchange holdings ahead of the midnight deadline set by the Central…
Banking Business Finance Fintech investment Local Trade FBN Holdings Reports N309bn Profit February 2, 2024 Ekemini Uba FBN Holdings, in its Unaudited Consolidated Financial Statements for the period ended December 31, 2023, announced a substantial profit of N309.89 billion. This represents a remarkable 128% increase compared to…
Breaking Business Commodities Local Technology Google Launches Advanced AI Model in Nigeria February 2, 2024 Ekemini Uba Google has unveiled its most advanced Artificial Intelligence model, Gemini Pro, in Nigeria on Thursday. Gemini Pro represents an enhanced version of Google’s previously launched AI model, Gemini, which debuted…
Business Commodities Finance investment Local Dangote Refinery: NIMASA Foresees Revenue Decline February 1, 2024 Ekemini Uba The Nigerian Maritime Administration and Safety Agency (NIMASA) has projected a decrease in revenue following the commencement of operations by the Dangote Refinery. According to NIMASA, the anticipated drop in…
Breaking environment Local Lagos State Government to Remove Illegal Buildings in Two Weeks February 1, 2024 Ekemini Uba The Lagos State Government has announced plans to initiate the removal of illegal building attachments and conversions across the state within the next two weeks. Dr. Oluyinka Olumide, the Commissioner…
Commodities insurance Local NIMC Expands Enrolment Systems to Boost NIN Registration February 1, 2024 Ekemini Uba The National Identity Management Commission (NIMC) has authorized the deployment of additional enrolment systems to bolster National Identification Number (NIN) registration across Nigeria. This initiative reflects the commitment of the…
Banking Breaking Business Commodities Currency Finance Local Market Trade CBN Orders Banks to Sell Excess Dollar Stock to Stabilise Exchange Rate February 1, 2024 Ekemini Uba In a bid to stabilize Nigeria’s volatile exchange rate, the Central Bank of Nigeria (CBN) has directed Deposit Money Banks to sell their excess dollar stock by February 1, 2024.…
Breaking Business Finance Local Market Femi Otedola Appointed Chairman of FBN Holdings February 1, 2024 Ekemini Uba FBN Holdings, the parent company of First Bank of Nigeria, has appointed billionaire businessman and investor Femi Otedola as its new chairman of the board of directors. The corporate filing,…
Breaking Business Currency Finance Local Market BDC Operators Suspend Operations Due to Dollar Scarcity February 1, 2024 Ekemini Uba Bureau De Change (BDC) operators in Abuja have announced the suspension of their operations due to the unavailability of dollars. Mallam Abdulahi Dauran, Chairman of the Association, made this announcement…
Commodities Energy environment Local FG Explores Green Hydrogen Opportunities for Cleaner Energy Transition February 1, 2024 Ekemini Uba The Federal Government has embarked on exploring opportunities in green hydrogen as part of its efforts to transition from fossil fuels to cleaner energy sources. The Minister of State for…
Business Commodities Local Market Port Harcourt Refinery Undergoes Test-run February 1, 2024 Ekemini Uba The Federal Government confirmed on Wednesday that the Port Harcourt Refining Company is currently undergoing test runs, with refined petroleum products expected to enter the market shortly. This announcement came…
Breaking Business Finance Local EFCC Investigates Controversial Nigeria Air Deal-Festus Keyamo February 1, 2024 Ekemini Uba Minister of Aviation and Aerospace Development, Festus Keyamo, revealed on Wednesday that the Economic and Financial Crimes Commission (EFCC) is probing the Nigeria Air deal initiated by his predecessor, Hadi…
