Employee Of Deutsche Bank’s “Postbank” To Stage Strike
Some employees of Deutsche Bank’s Postbank will stage a strike on Monday to raise pressure on management to meet their demands for higher wages in the face of rising inflation,…
Binance Restricts 281 Nigerian Crypto Accounts To prevent fraud
One of the largest cryptocurrency exchanges platform in the world Binance, restricts the accounts of 281 Nigerian users. According to Changpeng Zhao Binance’s CEO, the action was taken to prevent…
Ghana Secured $7.33 Billion From Oil Production Since 2011
Ghana secured $7.33 billion dollars in revenue since it started commercial oil production in 2011. From the earnings, $6.02 billion was obtained from total liftings, whilst $1.32 billion came from…
Airtel Africa Top Nigeria Stock Exchange Capitalised Company
Airtel Africa, a multinational telecommunications company, has surpassed Dangote Cement to become the most capitalised company listed on the Nigerian Exchange Limited (NGX). For the first time, Airtel Africa hit…
FG’s Marginal Oil-Field Awards: 33 Successful Bidders Lose
Govt rakes in N174bn as other awardees make full, part payments A total of 128 awardees that emerged as successful bidders in the 2020 Marginal Field Bid Round have made…
Chevron Report Fourth Quarter Profit
Chevron Corp on Friday reported a fourth quarter profit, which missed estimates by analysts on weaker than expected oil and gas production that outweighed gains from recovering prices. Its shares…
FEC Receives NNPC 2022 Petrol Subsidy Bill
The federal executive council (FEC) says it has received a bill of N3 trillion from the Nigerian National Petroleum Corporation (NNPC) as payment for petrol subsidy in 2022. This is…
Europe’s Tech Stocks Set For Biggest Monthly Drop In More Than 13 Years
European technology stocks fell on Friday and was on track for its biggest monthly drop since the 2008 global financial crisis as investors sold growth stocks in January amid concerns…
Vantage provides mezzanine funding for real estate development
The mezzanine fund manager announced today that it has arranged R430 million of mezzanine funding for the development of Seaton Estates. Seaton Estates is a residential coastal development located on…
Reps Ask CBN To Suspend E-Invoice Policy Implementation
The house of representatives has asked the CBN to suspend the implementation of the recently launched electronic invoice for all import and export operations. The lawmakers hinged their reasons on…
WACOT to complete rice mill expansion project in 15 months
WACOT Rice Nigeria Ltd has disclosed its ongoing expansion to double its 120,000-tonne rice mill in Kebbi State within the next 15 months. WACOT Rice Nigeria Ltd a subsidiary of…
How To Report Financial Institution -CBN
The Central Bank of Nigeria(CBN) has issued a guide on how aggrieved customers can complain about financial institutions such as commercial banks. This is according to a circular recently released…
AutoStore and Ocado ‘robot war’ spills into Germany
Norwegian warehouse robot maker AutoStore sparred on Friday over legal proceedings in Germany in their latest patent dispute. In a statement, by AutoStore, the Munich court had halted proceedings brought…
China issues draft rules for fakes in cyberspace
China’s cyberspace regulator issued draft rules for content providers that alter facial and voice data. This latest measure was put in place to crack down on “deepfakes” and mould cyberspace…
CBN Urges Cement Manufactures To Slash Prices
The Central Bank of Nigeria has appealed to cement manufacturers to consider reducing the high cost of cement. The CBN Governor, Godwin Emefiele, made the call at the official commissioning…
Europe kept waiting as Intel commits to new U.S. chip factories
Intel still intends to develop the European chip manufacturing capacity with two new U.S. semiconductor plants. The company said in September it could invest as much as $95 billion in…
No Dollar Spent On Cement Import In Seven Years —CBN Governor Emefiele
The CBN Governor Mr Godwin Emefiele has said Nigeria has not spent dollars to import cement in the last seven years. The CBN governor pledged the bank’s support for the…
Champion Breweries files shares take-over offer by Raysun Nigeria Limited
Champion Breweries has filed a notice of take-over offer by Raysun Nigeria Limited for over 1 billion units of the brewer’s shares. The disclosure states that 1,196,799,164 Ordinary shares, represent…
Federal Government Inaugurate Nigerian Postal Service Debit Card
The Federal Government has inaugurated the Nigerian Postal Service debit card, an agency banking platform, and 27 courier service vehicles. The inauguration was made by the Minister of Communications and…
Nigeria: FIRS Achieved It’s Target For 2021
The Federal Inland Revenue Service (FIRS) has announced that it achieved a 100% revenue target for 2021 despite issues brought up by the pandemic. Muhammad Nami, the Executive Chairman of…
Elon Musk’s Net Worth Dropped By $25.1 Billion
A massive sell-off of Tesla shares slashed Elon Musk’s net worth by $25.1 billion, one of the biggest declines ever seen in history, as the 50-year-old billionaire now has a…
Nigeria Stock Market Capitalization Decreases By N280.62 Billion
The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 112 basis points. The NGX ASI closed at 46,009.23 points, to…
China Securities And Regulatory Commission Is In Talks With Foreign Bank To Soothe Economic Concerns
The China Securities and Regulatory Commission (CSRC) met this week with the executives of top western banks and asset managers to reassure them about the country’s economic prospects after regulatory…
Google To Invest $1 Billion In Airtel
Alphabet Inc’s Google will invest up to $1 billion in Bharti Airtel in a move that could help bolster the Indian telecom operator’s digital offerings, the companies said on Friday.…
Unilever Nigeria Generated N52.21 Billion Revenue In 12-Months Ended December 2021
Unilever Nigeria Plc reported its Q4 12-months unaudited Annual Financial Statement, revealing a 35.07% growth in revenue from N52.21 billion to N70.52 billion recorded in Q4 2021. The consumer goods…
Pay us $3.4bn Fine – Niger Delta Artisan Fishermen Association of Nigeria Fishermen Tells Shell
The Artisan Fishermen Association of Nigeria, Niger Delta chapter, have urged the Shell Petroleum Company to immediately pay them the $3.4bn fine The fine was imposed on Shell Petroleum Company…
Credit Suisse issues fourth-quarter profit warning as legal costs rise
Credit Suisse announced that its fourth-quarter earnings are set to be negatively impacted by increased litigation provisions. The Swiss bank said a charge of roughly 500 million Swiss francs $545…
BUA Chairman, Abdul Samad Rabiu Now Africa’s Fifth Richest Man, Second In Nigeria With Latest Forbes Report
Forbes has listed BUA chairman Abdul Samad Rabiu as the fifth African richest man and second richest man in Nigeria. On average, the continent’s billionaires are worth $4.7 billion now…
GM plan to dethrone Tesla in electric car sales by 2025
General Motors will invest roughly $6.6 billion in its home state of Michigan over the next several years. The new investment plans to increase electric pickup truck production and build…
Facebook’s Cryptocurrency Venture To Wind Down And Sell Tech Asset
Meta Platforms Inc’s digital currency venture Diem Association is winding down and selling its technology to California-based Silvergate Capital Corp for about $200 million, the Wall Street Journal reported on…