Russia’s VTB bank says US sanctions have complicated cross-border transactions
The recent U.S. sanctions on Moscow have significantly affected Russian banks, including VTB, Russia’s second-largest lender. Dmitry Pyanov, VTB’s finance…
Month: June 2024
Ackman’s Pershing Square USA to offer shares at $50 in NY listing
Pershing Square USA, managed by billionaire Bill Ackman, is preparing for its initial public offering (IPO) on the New York…
Aircraft delivery delays having ‘brutal’ impact on Lufthansa, says CEO
Carsten Spohr, CEO of Lufthansa (LHAG.DE), revealed at a business press club in Stuttgart that ongoing aircraft delivery issues are…
Italy claims 1 billion euros in unpaid taxes from Google
Italy is seeking 1 billion euros ($1.07 billion) from Google in unpaid taxes and penalties, according to three sources familiar…
Nigeria’s cryptocurrency market worth over $400m — SEC DG
The Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama, highlighted the potential benefits of cryptocurrencies in reducing…
220 Drug Suspects Arrested As NDLEA Destroys 14 Cannabis Farms In Edo
The Edo State commander of the National Drug Law Enforcement Agency (NDLEA), Mr. Callys Alumona, announced that the agency had…
Naira Depreciates Further, Exchanges At N1,510/$
The Naira maintained its downward trend, reaching N1,510.10 against the US Dollar as reported by Daily Trust. This represents a…
Nigeria Spends N1.47tr On Vehicle Importation
Mr. Oluwemimo Joseph Osanipin, Director-General of the National Automotive Design and Development Council (NADDC), voiced concerns over Nigeria’s heavy reliance…
EFCC Chairman recommends blockchain, AI for tracking and recovering $88.6 billion stolen from Africa
Mr. Olanipekun Olukoyede, Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has called for the adoption of blockchain…
About 60% of applicants have received N50,000 under trade grant scheme — Doris Uzoka-Anite
During the National Economic Council (NEC) meeting at the Presidential Villa, President Tinubu announced significant initiatives aimed at enhancing food…
Federal Government Launches Task Force to Tackle Illegal Charter Flights in Nigeria
The Federal Government has taken decisive action to address the proliferation of unauthorized and illegal charter flights within Nigeria’s aviation…
VFD Group Obtains Shareholders’ Approval to Raise N30bn Additional Capital
At its virtual 8th Annual General Meeting (AGM), VFD Group Plc secured shareholders’ approval to raise an additional N30 billion…
Ethiopian Airlines Group Wins Double Awards in Africa
Ethiopian Airlines Group, recognized as Africa’s largest airline group, has secured top honors once again at the APEX Passenger Choice…
‘FirstBank Committed to Boost Economy through Creative Arts’
Dr. Timothy Arowoogun, Group Head, Public Sector West of FirstBank of Nigeria (FBN), emphasized the potential of the creative arts…
PalmPay Insists on CAC Registration to Prevent Account Freezing
PalmPay is urging its Business users to register and submit their Corporate Affairs Commission (CAC) details by the July 7,…
Microsoft Not Leaving Nigeria – CEO
Mrs. Ola William, Managing Director and CEO of Microsoft Nigeria plc, has denied rumors that Microsoft plans to leave Nigeria.…
Dangote refinery: Crude supply crisis threatens oil investments, operators warn FG
Modular refineries in Nigeria are facing challenges due to an unreliable domestic crude oil supply, prompting them to explore importing…
‘Minor Fire Incident’ at Dangote Refinery Fully Contained, Says Management
A minor fire outbreak occurred at a section of the Dangote Refinery in Ibeju Lekki, Lagos, on Wednesday morning. Workers…
Lagos Battling 2.3m Housing Gap – Commissioner
Lagos State is currently grappling with a significant housing gap of 2.3 million, according to the Commissioner for Housing, Moruf…
CBN discontinues price verification for Form ‘M’ (Effective July 2024)
The Central Bank of Nigeria (CBN) announced that it will discontinue its Price Verification System (PVS) Portal starting July 1,…
Nigeria’s Treasury Bills debt surges to N10.4 trillion, largest balance in Nigerian history
Nigeria’s Treasury Bills (T-Bills) debt has surged to a record N10.4 trillion, marking a 60% increase in just three months,…
IMF says Nigeria, other developing countries lack digital infrastructure for AI
A new report from the International Monetary Fund (IMF) reveals that Nigeria, alongside other developing countries, lacks adequate digital infrastructure…
85 million Nigerians lack access to electricity — USAID
At a conference themed “Powering Nigeria: Mobilizing Private Capital,” Melissa Jones, Mission Director for USAID, highlighted that 85 million Nigerians…
Otedola tightens grip on First Bank, acquires more shares
Billionaire businessman Femi Otedola purchased a total of 9,193,339 units of shares across two tranches, amounting to substantial investments in…
EU seeks areas to invest part of 150bn Euro sub-regional package
The European Union (EU) is exploring potential investments in Nigerian ports as part of its €150 billion initiative aimed at…
Consolidated Hallmark Holdings grows revenue by 32%
Consolidated Hallmark Holdings Plc has announced a robust financial performance for the year 2023, achieving a 32% increase in revenue…
Nigeria advances internet connectivity with $2bn fibre-optic project
In an initiative aimed at enhancing Nigeria’s connectivity infrastructure, Finance Minister Wale Edun addressed the Fibre Forward Strategic Development Workshop…
SEC, NGX Group agree to capital market digital transformation
The Securities and Exchange Commission (SEC) has announced its support for the Nigeria Exchange Group (NGX) in its endeavor to…
U.S. crude imports touch two-year high despite lukewarm demand
In May, U.S. crude oil imports reached their highest level since July 2022, averaging 3.1 million barrels per day (bpd)…
European shares gain, Aussie jumps, yen teeters near 160
European stock markets saw gains on Wednesday, boosted by a rebound in Nvidia shares and a broadly positive risk sentiment…