European Market Experience Little Change After Opening Bell
Europe markets opened flat on Friday as investors digested key updates from both the Bank of England and the European Central Bank. The pan-European Stoxx 600 was little changed after…
OPEC To Raise Oil Production 400,000 Barrels Per Day
The Organisation of the Petroleum Exporting Countries and its Russia-led partners decided on Wednesday to raise oil production by 400,000 barrels per day in March, sticking with its plan of…
Naira falls at P2P market as FX liquidity improves by 59.4% at I&E window
The exchange rate between the naira and the US dollar closed at N416.07/$1 at the official Investors and Exporters (I&E) window. Naira appreciated marginally against the US dollar on Thursday…
Full List Of CBN 100 For 100 Policy Beneficiary
The Central Bank of Nigeria (CBN) has released the list of 28 companies that took home N23.2 billion from the first cycle of the 100 for 100 Policy on Production…
Indian Billionaire Gautam Adani Becomes Asia’s Richest Person
Indian businessman Gautam Adani has become the richest Asian, worth $90.1 billion, according to Forbes’ Real Time Billionaire calculations on Thursday, and the 10th richest person in the world. He…
Tony Elumelu- A Well-Regulated Capital Market’ll Generate Wealth For Africa
The Chairman of United Bank for Africa Plc, Mr Tony Elumelu, has said a well-regulated capital market will help to create wealth for Africa. Elumelu said this at the Jamaican…
Nigeria: Marketsquare Replaces Shoprite At Maryland Mall
Purplemaryland has said Marketsquare, a grocery retailer, will open its outlet at the mall following the exit of Shoprite. According to a statement by Purple Group, owners of Purplemaryland, the…
Stakeholders Laud NLNG’s Increased Cooking Gas Supply
Nigeria LP Gas Association has commended Nigeria LNG Limited for the decision to supply 100% of its LPG production to the Nigerian market. The President and Executive Council of NLPGA,…
FEC approves $328.87m railway consultancy services, N115.4bn Katsina road dualisation
The Federal Executive Council presided over by President Buhari approved N115.4bn for the dualization of the proposed Kano-Kazaure-Kongolam highway in Katsina State to a dual carriageway. The Minister of Works…
Osinbajo launches integrated energy planning tool today
The Vice-President, Prof. Yemi Osinbajo launches the Integrated Energy Planning Tool in collaboration with Sustainable Energy for All. A statement signed by the Director of Communications, SEforAll, Sherry Kenny, said…
Bitcoin Investor Buys The Dip By Purchasing 660 BTC For $25M
Major Bitcoin investor MicroStrategy has announced another major purchase during a market dip to collect a total of 125,051 BTC as of Monday. According to an official form with the…
Federal Government stakes N52.7 billion to clear petrol bridging debt
To sustain the supply of PMS in the country, the Nigerian Midstream and Downstream Petroleum Regulatory Authority have stated that it has paid over N22 billion as part of the…
Tesla To Recall Over 817,000 Vehicles In US Due To Seat Beat Alert
Tesla Inc (TSLA.O) is recalling more than 817,000 vehicles in the United States because an audible alert may not activate when a vehicle starts and the driver has not buckled…
Dangote Peugeot Automobile Begins Operation In Nigeria
Dangote Peugeot Automobiles Nigeria Limited (DPAN) has started assembling vehicles in Nigeria, beginning with the Land Trek, 3008, 5008 and the new 508. The assembly of Peugeot vehicles comes nearly…
Nigeria: Otedola Nominates Three Directors For First Bank Board
Billionaire Femi Otedola has made new nomination into First Bank barely two months after he became the single largest shareholder of the oldest commercial bank in the country. The magazine…
Fire Engulfed Shebah Exploration & Production Offshore Facilities
The management of Shebah Exploration & Production Company Ltd (SEPCOL) has announced a fire incident, which engulfed the oil and gas company’s offshore facility in the Niger Delta. A statement…
Alleged N11.79b Scam: Court Renews Order To Banks To Submit Ajetunmobi Account Details
A Lagos High Court sitting at Osborne on Wednesday renewed its order to all banks to furnish it with the account details of Imagine Global Holding Company Limited and its…
Saudi Arabia increases market access for Nigerians with startup passport
Nigeria’s startup ecosystem is expected to benefit immensely from the newly unveiled Startup Passport Initiative by Saudi Arabian-based multinational organisations. The Startup Passport makes it quicker and less expensive for…
Sugar sector attracts N250 billion investments in five years, says NSDC
The Executive Secretary of the National Sugar Development Council Zacch Adedeji has revealed that the sugar sector attracted over N250 billion in investments in the past five years. He further…
CILT partners Dangote to improve Nigeria’s supply chain standards
The Chartered Institute of Logistics and Transport in partnership with Dangote Group has resolved to strengthen the supply chain industry in the country to meet international standards. The CILT National…
Moody’s To Acquire Majority Stake In GCR Ratings
Moody’s Corporation yesterday, announced that it has agreed to acquire a majority (51%) stake in Global Credit Rating Company Limited (GCR). GCR is a leading credit rating agency in Africa…
Nigerians Access To African Insurance Market Shrinks By Two Per Cent In 2020
There are indications in the African insurance market that the access rate has dropped from 2.78 per cent in 2019 to two per cent in 2020. This as the global…
Regulators To Check Global Cryptocurrency Operations
Regulators across the globe are getting more serious about crypto this year, as concerns grow about the environmental impact of crypto-mining and the use of digital assets for illicit activities.…
FIRS To Tax Profits From Investments In Bonds, Securities
The Federal Inland Revenue Service (FIRS) has announced that it would tax profits accruing from investments in bonds and short-term government securities by companies which would now be categorised as…
Coinoil And Three Others Grew Their Revenue By 49.96 Per Cent
Four of the major oil marketing companies in Nigeria saw their combined revenue surged by 46.96 per cent last year as fuel demand recovers from the impact of the COVID-19…
Facebook Share Tumbles By 20 Per Cent
Meta has reported disappointing earnings, offered weak guidance, and said user growth has stagnated, which led Facebook shares to fall by more than 20% in extended trading on Wednesday. Meta…
Nigeria Targets N141.250bn From Sugar Tax On Soft Drinks, Others
With the takeoff of its sugar tax that has seen the rise in prices of some soft drinks, the FG is set to earn billions of naira to support the…
Alphabets Approves Plan For 20-For-1 Stock Split
As part of the tech company’s quarterly earnings statement on Tuesday, Alphabet’s (parent company of Google) board approved plans for a 20-for-1 stock split. Following the news, the stock of…
Over $1.19 Billion Worth Of Ether Was Burned In January
Data from Ultrasound Money reveals that over $1.19 billion worth of Ether (ETH) was burned in the month of January 2022, a record burn rate since the introduction of the…
MAN Wants Implementation Of E-Valuation, E-Invoicing Suspended
The Manufacturers Association of Nigeria has expressed concerns over the CBN guidelines on e-Valuation and e-Invoicing. The Association asked the apex bank to suspend the policy for now and give…