Alleged Importer Of Fake Tramadol Gets N10m Bail
A Federal High Court sitting in Lagos, on Monday, granted a N10 million bail to a 43-year-old businessman, Afamefuna Udensi,…
Category: Business
EFCC Drags CEO To Court Over $100m Fraud
Economic and Financial Crimes Commission (EFCC) has dragged the Group Managing Director (GMD) of an oil marketing firm, Triumph Oil and…
Vodafone Raises Free Cash Flow Guidance After ‘Solid’ First Half
Mobile operator Vodafone raised its forecast for this year’s free cash flow on Tuesday after it reported 6.5% growth in…
Tesla’s Musk Sells $930 Million In Shares To Cover Stock Option Tax – Filings
Tesla CEO Elon Musk has sold $930 million in shares to meet tax withholding obligations related to the exercise of stock…
Amazon Settles With California Over Claims It Concealed Covid-19 Cases From Warehouse Workers
Amazon on Monday reached a settlement with California’s attorney general over claims it concealed Covid-19 case numbers from its warehouse…
Large-Cap Stocks Drag Market Lower, Investors Lose N11.83bn
The Nigerian equities market started the week on a negative note as declines in some large-cap stocks saw the market…
CBN: Bridging Unbanked Space, Stimulating Digital Transactions
When the Central Bank of Nigeria (CBN) mooted the idea of the e-Naira in 2017 as part of the CBN…
Nigeria’s Inflation Rate Drops To 15.99% — Seventh Consecutive Decline In 2021
The consumer price index (CPI), which measures the rate of change in prices of goods and services, declined for the…
WeWork Shows More Losses In Its First Quarterly Report As A Public Company
WeWork shares were up more than 2% Monday after the company announced third-quarter earnings, the company’s first report since going…
Nigeria Home To 9,100 Dollar-Millionaires, Worth $207 Billion
Nigeria has recorded about 9,100 high net worth individuals (HNWIs) each with minimum net assets of one million dollars and…
Burger King Parent Restaurant Brands International Buys Firehouse Subs For $1 Billion
Burger King parent Restaurant Brands International announced Monday it bought Firehouse Subs for $1 billion. Shares of the restaurant conglomerate…
After PSB Approval, Airtel Gets CBN’s Nod To Operate As A Super Agent In Nigeria
Airtel Africa Plc says it has been granted approval-in-principle by the Central Bank of Nigeria (CBN) to operate as a…
Portugal Makes It Illegal For Bosses To Contact Employees Outside Working Hours
Portugal has passed new labor laws which include a ban on bosses contacting employees outside of working hours. The new…
Fresh Loans To Push Nigeria’s Debt Stock To N52tr
The fresh $16.23 billion and 1.02 billion approved for the Federal Government will push Nigeria’s debt stock to N52.6 trillion…
Outrageously Expensive Nigerian Ports
The recent revelation that Chinese shipping lines and their agents in Nigeria have introduced double charges on the handling of…
Oil Was Almost $150 The Last Time U.S. Gasoline Cost This Much
U.S. retail gasoline prices are poised to average more than $4 a gallon in three states for the first time…
Oikocredit Makes Debt Investment In Senegalese Microlender CMS
Social impact investor Oikocredit has provided debt capital of €5 million ($5.8 million) to Union des Caisses de Credit Mutuel…
Ata Capital Completes RCA’s MBO
Ata Capital has completed a management buyout (MBO) of Respiratory Care Africa (RCA), a medical devices supplier, from South African…
MFS Africa Raises $100m For Massive Expansion Across Africa
MFS Africa, Africa’s largest digital payments network, has raised US$100 million through an equity and debt financing round. The fundraising…
Fidelity, Visa And Kingsway Back South African Fintech JUMO In $120M Round
JUMO, a South Africa- and London-based company that offers financial services to entrepreneurs and businesses in emerging markets, has raised…
Nigerian E-Health Pharmaceutical Distribution Startup DrugStoc Secures $4.4 Million Series A Funding, Embarks On Expansion Drive
The pharmaceutical supply chain across Africa has for decades remained fragmented leading to sourcing and distribution challenges as well as…
Telenor And Google Cloud Partner Up To Digitalise Telecom Operations
Telenor and Alphabet Inc’s Google Cloud have formed a partnership to digitalise the Norwegian telecom company’s global operations and are exploring ways…
Apple TV+ hopes to build on rivals’ success with first Korean series
Hot on the heels of Netflix’s breakout South Korean hit “Squid Game,” Apple has rolled out its first Korean-language original series…
Chinese Investors Acquire 120 Hectares Of Land In Akwa Ibom For Hendai City
A multibillion dollars modern city development project promoted by the Chinese investors , Hendai Investment Limited, is coming to oil…
IBM, Amazon Partner To Extend Reach Of Data Tools For Oil Companies
International Business Machines Corp and Amazon.com Inc’s Amazon Web Services said on Monday they would work together to extend the reach of…
Korean Proptech Startup Rsquare Raises $72M Series C To Fuel Its Expansion
The commercial real estate brokerage market in South Korea is fragmented, which makes finding a new office for tenants a…
Singaporean, French Firms, Bi-Courtney, 10 Others Jostle For Nigeria’s Four Int’l Airports
A total of 13 airport consortia, comprising local and foreign companies, have submitted bids to be prequalified for the planned…
Musk Continues To Sell Shares After Twitter Poll
Tesla Inc Chief Executive Officer, Elon Musk, has sold an additional portion of his share in his company worth about…
