Nigeria Regains Position As Crude Oul Output Increase
Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of…
MTN, Airtel, Mafab Enter 5th Round As 5G Auction
The current price per lot of the 100MHz band of the 3.5GHz spectrum at the ongoing auction being organised by the Nigerian Communications Commission (NCC) has risen to $215,782,901.38 as…
NCC Completes Mock Session For Spectrum Auction Of 5G
The Nigerian Communications Commission (NCC) has successfully carried out a mock session for the 3.5 gigahertz (GHz) spectrum auction for the deployment of the Fifth Generation (5G) network in the…
Banks’ Credit To Economy Hits N23.5tn, Says CBN
Banks’ gross credit to the Nigerian economy rose to N23.5tn in November this year, according to figures obtained from the Central Bank of Nigeria. The CBN said in a new…
Steelpack Deal Makes Two For Vuna Partners’ Maiden Fund
Vuna Partners, a sector-agnostic mid-market private equity firm which recently hit another milestone for its maiden fund, has sealed its second transaction with the acquisition of SA Steelpack Solutions. “The…
Impose Special Taxes On Alcohol, Cigarette – World Bank Tells FG
The World Bank has called on the Federal Government to impose special taxes on alcohol, cigarettes and sugar-sweetened beverages to improve primary healthcare. The World Bank Country Director for Nigeria,…
McDonalds To Hire More People And Open New Restaurants By 2025
U.S fast food chain McDonalds will hire 12,000 people and open 200 new restaurants in Italy by 2025, Dario Baroni, chief executive of the group in the country, was quoted…
Experts Count Coffee Trees In Brazil As Prices Hit 10-Year Highs
Coffee experts working for commodity trading houses are taking to the narrow, winding roads in Brazil’s Minas Gerais state as they tour the coffee belt checking 2022 crop prospects just…
UK Antitrust Regulator Looks Into Microsoft’s $16 Bln Nuance Deal
Britain's antitrust regulator said on Monday it will look into Microsoft Corp's $16 billion purchase of artificial intelligence and speech technology firm Nuance Communications. Microsoft announced it would buy Nuance…
U.S. Chipmaker Intel To Invest $7 Bln In New Facility
American chip manufacturer Intel Corporation will invest 30 billion ringgit ($7.10 billion) in a new, state-of-the-art facility, Malaysian authorities said on Monday. The Malaysian Investment Development Authority, in a media…
B Investments Makes First Deal For New Healthcare Platform
B Investments Holding announced the establishment of B Investments in Healthcare, with a licensed capital of LE 1 billion, to invest in Egyptian companies in the field of specialized healthcare.…
RMB Teams Up With ZX Ventures To Back Non-Alcoholic Drinks Firm
South African financial services firm Rand Merchant Bank (RMB) has picked up an equity stake in The Duchess, joining ZX Ventures as an investor in the maker of alcohol-free drinks.…
Equinix Acquire Nigeria’s Leading Data Center MainOne
California-based digital infrastructure company, Equinix, has acquired Nigeria’s leading data center and connectivity solutions provider, MainOne at a whopping $320million, MainOne confirmed the acquisition. According to the terms of the…
African Edutech Startup Raises $15 Million In Series-B Round
uLesson, African edutech startup, has secured a $15 million Series-B investment from global investors to expand team. Sim Shagaya, chief executive officer, ULesson, on Thursday in Lagos, said the investment…
U.S Whatsapp Will Allow Crypto Payment Through Novi
Meta Platforms cryptocurrency wallet, Novi, will allow users to send and receive money through the social media giant’s messaging app, WhatsApp. The pilot program is open to a limited number…
Berlin Based Grocery Delivery Start-Up Raises $750m In Financing Round
Grocery delivery start-up Flink has raised $750 million in an additional funding round, it said on Friday, giving the German company the funds to further expand and cash in on…
Elon Musk: I Am Thinking Of Becoming An Influencer
Tesla Inc Chief Executive Officer Elon Musk is “thinking of” leaving his jobs and becoming an influencer, the world’s richest man tweeted on Thursday. “thinking of quitting my jobs &…
United State $52 Billion Bill Could Slip Into 2022
A $52 billion bill aimed at bolstering the U.S. semiconductor industry will include funding for chip design activities, a U.S. commerce department official told Reuters, addressing concerns the funds would…
Chinese Ride-Hailing App Didi To Delist From New York Stock Exchange
Following months of speculation, Chinese ride-hailing app Didi announced last week that it would delist from the New York Stock Exchange and pursue a listing in Hong Kong. Delisting means…
Italy Sues Amazon For Alleged Abuse Of Market
Italy’s antitrust watchdog said on Thursday it had fined Amazon 1.13 billion euros ($1.28 billion) for alleged abuse of market dominance, in one of the biggest penalties imposed on a…
A Total Of N6.16bn Was Paid As A Liquidation Dividend- NDIC
According to Punch Newspaper, The Nigerian Deposit Insurance Corporation said on Thursday that a total of N6.16bn was paid as a liquidation dividend to 1,955 creditors and shareholders of closed…
FG Propose Companies Income Tax For Foreign Digital Companies
The federal government has proposed the collection of companies income tax (CIT) from profits made by foreign digital companies with “significant presence” in the country. The 2021 Finance Bill which…
Mock Auction Of 5G spectrum To Hold On Friday-NCC
The Nigerian Communications Commission has said Nigeria’s 5G plan will allow efficient allocation of spectrum for 5G deployment, and ensure its effective deployment in major urban cities by 2025. The…
Range Rover Velar Named Luxury Sport Utility Vehicle Of The Year
Coscharis Motors Plc says one of the brands it represents, the Range Rover Velar, has been named the Luxury Sport Utility Vehicle of the Year at the annual Nigeria Auto…
Nigerians To Pay 7.5 Percent As VAT For Facebook Ad
Facebook says Nigerians will pay 7.5 percent value-added tax (VAT) on all ad placements from January 1, 2022. The social media giant said this in a statement issued on Thursday.…
Equinix Acquire MainOne In $320m Deal
Equinix, Incorporated has announced that it is acquiring MainOne in a $320m deal that is set to be sealed in the first quarter of 2022. According to Equinix, the acquisition…
Startimes Launch Reality Show For Jobseekers
StarTimes says it has launched a new reality television show for jobseekers. According to the company, the reality show, called ‘Breaking-In’, will create a platform for youths to gain insights…
Senate To Mandate Bill For Bank To Demand TIN
The Finance Bill 2021, which is currently being considered by the senate, has made it mandatory for banks to demand the Tax Identification Numbers from their customers. The Senate, on…
Bolt Introduce Booking Fee, Riders May Pay More
In a service update sent to customers on Wednesday, the company said the booking fee was necessary due to an “increase in operating costs”. “At Bolt, we’re committed to making…