Nigeria Lost $1 Billion In Revenue To Crude Oil Theft In Q1 2022
Due to crude oil theft, Nigeria lost a staggering $1 billion in revenue in the first quarter of 2022. Therefore,…
Category: Business
Lekki Gardens Signs N25bn Commercial Paper-Nigeria.
Lekki Gardens Estates Limited has signed the N25bn commercial paper approved for the company by the FMDQ Security Exchange Limited.…
Concerns For Nigerian Startups As 126 Global firms Laid Off 15,781 Employees In June 2022
Amidst rising inflation and a gloomy economic outlook, tech startups across the globe bit the bullet in June. As a…
Banks Guaranteed N3.6 Billion Loans To Farmers Under The ACGSF – CBN.
The Central Bank of Nigeria announced banks guaranteed 28,830 loans valued at N3.6 billion to farmers. This is under its…
Nigeria Boosts Deep Blue Project, Signs $2.7m Deal With Japan.
In a bid to boost the deep blue project, the Federal Government of Nigeria has signed a $2.78m exchange of…
Unity Bank Plans N10m Business Grant In Entrepreneur Initiative- Nigeria.
Unity Bank has said it will commence the eight edition of its flagship Entrepreneurial Development Initiative; Corpreneurship Challenge across 10…
Gartner Revises 2022 Mobile Sales Estimates To Fall 7.1%.
Gartner forecast global mobile phone sales to fall 7.1% this year, revising its earlier estimate of a growth of 2.2%,…
Nigeria’s Unclaimed Dividends Rises To N180 Billion
The Security and Exchange Commission (SEC) has stated that the commission is working to ensure it reduces the level of…
NAICOM Revokes Niger Insurance, Standard Alliance Licences, Appoints Liquidators
Following the failure of several palliatives to strengthen both Niger Insurance Plc and Standard Alliance Insurance. The National Insurance Commission…
China Vows Timely Policy Measures To Cope With Economic Risks.
China will roll out tools in its policy reserve in a timely way to cope with more economic challenges; as…
Elevator Maker Kone Divests Russia Business.
Finnish elevator maker Kone (KNEBV.HE) said it will sell its business in Russia to local management for an undisclosed amount.…
Nigeria’s PZ Cussons Fights Off Inflation To Post 277% Rise In Profits.
Leading conglomerate, PZ Cussons Nig Plc, released its Q4 2021/22 unaudited results for the period ended May 31, 2022. Reporting…
DisCos’Payment To GenCos Drops By 50%, Consumers Kick.
Electricity distribution companies’ payment to generation companies for electricity generation has dropped by 50%; according to industry data obtained by…
Electric Automakers Make Last-Ditch Plea For More Tax Credits Before U.S. Election
Shifting political winds during the U.S. November mid-term elections could spell trouble for automakers’ hopes of getting billions of dollars…
FUGAZ Investors Gain N39 Billion Combined During The Week
The market capitalization of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 1.77% to…
Linkage Assurance’s Gross Premium Rises By 34%
Linkage Assurance Plc has disclosed that its gross premium written rose by 34 per cent in the 2021 financial year.…
Altcoins Gain 90% In The Last 7 Days.
Bullish price action is returning back to the cryptocurrency market alongside the U.S. stock market as the 16.54% rally in…
Customs, Firm Sign $3.2bn Digitisation Deal, FG Targets $176bn Revenue
The Nigeria Customs Service and a consortium, Trade Modernisation Project Limited, signed a concession agreement worth $3.2bn. This is to…
Traders List Reasons Why Prices Of Rice, Onions, Cooking Gas Rise Every Week
The price of local rice, onions, cooking gas, pepper, and other staple food items has significantly increased. The survey considered…
Domestic Foreign Transactions On Nigerian Exchange Hits N1.506trillion In 5 Months
The total value of domestic and foreign transactions on Nigerian Exchange Limited (NGX) for the first five months of the…
Neveah Limited Issues N5.7 Billion Series 3, Series 4 Commercial Paper Programme
Neveah Limited has announced the quotation of its Series 3 and Series 4 Commercial Paper Issuances on the FMDQ Exchange.…
Prestige Assurance Sees N10.5bn Gross Premium In Q3’22- Nigeria.
Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022. The…
AIICO Insurance Declares Dividend Of 2 Kobo Per Share For Year Ended December 2021
AIICO Insurance Plc has declared a dividend of 2 kobos per share amounting to N732 million. This is regarding and…
Bitcoin On Its Way To $32,000 As On-Chain Data Suggests Net Accumulation
Cryptocurrency bulls took over the market on Monday, with Bitcoin leading the charge, fighting its way through the $30,000 resistance…
AfDB secures $15.6bn for Lagos-Abidjan highway corridor
Dr. Akinwumi Adesina, President of the African Development Bank, announces that the bank has secured $15.6 billion for the construction…
Amana Capital To Raise $2 Million Funding
Fund manager Amana capital is seeking to raise $2 million (Sh227.8 million) in the form of debt and/or equity. The…
Treasury Fights Billionaire Rai On Leasing Mumias
The Treasury has opposed West Kenya’s bid for lease of Mumias Sugar Company on concerns that its billionaire owner Jaswant…
Champion Breweries Recorded 520% Increase In Post Tax Profit
Champion Breweries Plc has released its FY 2021 results which revealed 520% growth in post-tax profit, from N159 million in…
Africa Prudential Announces Dividend Payment To Shareholders
Africa Prudential Plc has announced a dividend payment of N0.50 kobo per 50 kobo ordinary share for the financial year…
Profitability Recovering, Vision Group Assures Investors
Vision Group has said the profitability of the company is gradually recovering from the impacts of the pandemic as the…