UK’s Aviva conspired to dodge India compensation and tax rules, agency says
The Indian tax agency has accused British insurer Aviva of breaching local regulations on sales commissions through a scheme involving…
Month: August 2024
Futures extend gains after inflation data
U.S. stock index futures continued their upward trend on Friday, bolstered by a key inflation report that showed price pressures…
Oil prices face pressure from slow China demand and inventory rise
Oil price forecasts for 2024 have been downgraded due to weak fuel demand from China, the world’s top importer, and…
US regulator finds banks have work to do on climate risk, sources say
Global stock markets surged on Friday, heading for a fourth straight month of gains, driven by positive U.S. growth data…
Equity market reverses loss with N117bn gain
The Nigerian Stock Exchange (NSE) rebounded on Thursday, recovering from the previous day’s losses as investors gained N117 billion. The…
Manufacturing grows by 1.28%
In the second quarter of 2024, Nigeria’s manufacturing sector recorded a year-on-year growth of 1.28%, according to the latest Gross…
CBN lifts suspension on bank borrowing, sets 31.75% lending rate
The Central Bank of Nigeria (CBN) has reinstated access to its Standing Lending Facility (SLF) following the recent 296th Monetary…
Reps Uncover Over N500b In Unused TETFund For Nigerian Universities
The House of Representatives has pledged to address the challenges preventing Nigerian tertiary institutions from accessing over N500 billion in…
OVH Acquisition: CAC dissolves NNPC retail, Nueoil
The Corporate Affairs Commission (CAC) has dissolved NNPC Retail, the downstream arm of the Nigerian National Petroleum Company Limited (NNPC),…
NCC uncovers 100,000 SIM cards linked to one individual
The Nigerian Communications Commission (NCC) has uncovered a shocking case where over 100,000 Subscriber Identification Modules (SIM) cards were linked…
NNPC absorbing actual costs of petroleum products, says Tonye Cole
Tonye Cole, co-founder of Sahara Group, has highlighted the significant pressure on the Nigerian National Petroleum Company (NNPC) Limited due…
Concerns as Emirates opens ticket booking in dollars
Stakeholders in Nigeria’s travel industry have expressed concern over Emirates’ decision to price tickets on Nigerian routes in U.S. dollars…
Africa’s poverty is man-made, not an act of God – Obasanjo
Former Nigerian President Olusegun Obasanjo recently highlighted the man-made nature of poverty in Africa, emphasizing that the continent has the…
NUPRC rejects Shell’s $1.3bn onshore asset sale to Renaissance
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reportedly rejected Shell International Plc’s proposed sale of its onshore assets to…
Birkenstock misses profit estimates as expansion plan hits margins
Birkenstock missed quarterly profit expectations, with its shares dropping 12% in premarket trading. The German sandal maker’s global expansion and…
China will not impose anti-dumping measures on EU brandy, for now
Beijing has decided not to impose provisional tariffs on European Union brandy despite finding that it was sold below market…
Exclusive: US government funding yielded hundreds of patents for China-based researchers
Research funded by the U.S. Defense Department, NASA, and other government agencies has resulted in over 1,000 U.S. patents granted…
Aviation minister signs MoU with Boeing to facilitate aircraft acquisition
Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed a strategic Memorandum of Understanding (MoU) with Boeing to advance…
Nigeria, Germany target over $500mn in energy deals in 2024
Nigeria and Germany plan to surpass last year’s $500 million in energy deals by targeting even larger agreements in 2024.…
Nigerian oil grades maintain premium status, Cast light on economy
Nigeria’s Brass River, Bonny Light, and Qua Iboe crude oils have surged above the Brent Crude benchmark due to supply…
BREAKING: Currency outside bank drops to N3.66 trillion in July, biggest fall in 2024
In July 2024, the amount of currency outside Nigeria’s banking system decreased to N3.66 trillion, marking a 3.32% drop from…
EKEDC disconnects power supply from UNILAG
Eko Electricity Distribution Company (EKEDC) has disconnected the University of Lagos (UNILAG) from the power supply because of unpaid electricity…
Nigeria, Belgium deepen bilateral ties
The Nigerian Ports Authority (NPA) and the Kingdom of Belgium have agreed to strengthen their bilateral relationship to boost efficiency…
Nigeria, Benin Republic open dry port trade office in Kano
Nigeria and Benin Republic have jointly opened the Tsamiya Dry Port Trade Office in Kano State to enhance regional trade…
Elumelu: Tenure limit for bank CEOs inspired Heirs Holdings formation
Tony Elumelu, Chairman of Heirs Holdings Group, revealed that the Central Bank of Nigeria’s (CBN) 2010 policy limiting bank CEOs’…
Govt sets Sept 14 deadline for SIM-NIN linkage
The Nigerian Communications Commission (NCC) has announced a new deadline for all mobile subscribers to link their SIM cards with…
Gas suppliers seek end to multiple taxation
The National Oil and Gas Suppliers Association of Nigeria (NOGASA) has called on the Federal Government to tackle the issue…
NEPC reports $2.7bn in non-oil exports half year 2024
Nigeria’s non-oil exports generated $2.7 billion in the first half of 2024, reflecting a 6.26% increase from the $2.5 billion…
TGI Foods SPV launches N25bn commercial papers
TGI SPV Plc, a special purpose vehicle created by Tropical General Investments Group, has launched N25 billion in Series 1…
Without structural gaps, Nigeria’s GDP will grow by 5% – IMF
*The International Monetary Fund (IMF) stated that Nigeria’s economy, currently growing at 3.19%, could reach a 5% growth rate by…