BUSINESS
Stock markets diverge awaiting inflation data, earnings
Bitcoin whipsawed after a post on X saying the Securities and Exchange Commission had approved ETFs for the unit was later denied. Photo: CHANDAN KHANNA / AFPSour ...
Court Stops IGI From Holding AGM
Justice Akintayo Aluko of the Federal High Court in Lagos has restrained the Industrial And General Insurance Company Plc from holding its Annual General Meeting (AGM) fixed for January 22, 2024, ...
Drivers demand health insurance from ride-hailing firms after LagRide drivers death
Ride-hailing drivers in Nigeria will demand health insurance packages from e-hailing companies operating in Nigeria after Adebayo Padmore, a driver for LagRide, passed away yes ...
Kaduna electricity board dissolved over N110bn debt – NERC
The board of directors for Kaduna Electricity Distribution Company, KAEDC, has been dissolved. The Nigerian Electricity Regulatory Commission, NERC, dissolved the bo ...
N93.4bn Debt: NERC Dissolves Kaduna Electric Board, Appoints New Management
The Nigerian Electricity Regulatory Commission (NERC) has taken regulatory action against Kaduna Electricity Distribution Company (Kaduna Electric) following a protracted case of underperformance ...
Exclusive: Twiga legal chief departs company days after founders resignation
Daniel Ngungi, head of legal and administration at Twiga Foods, left the company days after TechCabal reported that Peter Njonjo, the founder and CEO, resigned from Twig ...
Exclusive: Wasoko and MaxAB to cut overlapping workforce as merger talks advance
Wasoko, the Tiger Global-backed Kenyan e-commerce startup and MaxAB, its Egyptian counterpart, will trim roughly 10% of the combined workforce of both companies, TechCabal has ...
MTN To Disconnect Glo From Network Over Debts
The Nigerian Communications Commission (NCC) has approved MTNs request to partially disconnect Globacom (Glo) from its network due to unpaid interconnect charges. The decision—announced by ...
Rolls-Royce delivers record number of cars in 2023
Rolls delivered 6,032 cars around the world in 2023 -- the largest amount in its 119-year history. Photo: Ben STANSALL / AFP/FileSource: AFP ...
Nigeria Boosts Oil Production Output As OPECs Remain Steady — Report
The Organization of Petroleum Exporting Countries (OPEC) maintained a consistent crude oil production in December 2023, averaging 28.05 million barrels per day (bpd). This was affirmed by a ...
Vinfast plans first EV factory in India
Vinfast is looking to expand overseas but has had a rocky start. Photo: Patrick T. FALLON / AFPSource: AFPVietnamese carmaker VinFast sai ...
Six Firms Likely To List On NGX This Year
Afrinvest (West Africa) Limited, an investment management holding company, has highlighted six companies that may be listed on the Nigerian Exchange Group (NGX) in 2024. In its latest outlo ...
NIPCO Gas Expands Footprint In CNG Business Across Nigeria
NIPCO Gas Limited has once again underscored its unwavering commitment to environmental stewardship with the inauguration of Auto CNG station in Kubwa ,Abuja, in a significant stride towards provi ...
Emefiele: Dangote Group clarifies EFCC visit to Head Office
The Chairman of the Dangote Group, Aliko Dangote, on Saturday clarified the recent visit of officials of the Economic and Financial Crimes Commission, EFCC, to its Head Office in Lagos ...
Chinese, Nigerian Firms Sign $1bn Pact To Eliminate Gas Flaring
A Chinese firm, Beijing Zhogmin Xinjunlong New Energy Technology Company Ltd., and NIGUS International, a Nigerian firm, have signed a $1 billion agreement to fund and develop gas flaring solution ...
Lawmaker Hails Benedict Peters, Mozambique Govt Over Mazenga Gas Field Breakthrough
A member of the House of Representatives, representing Ideato North/South federal constituency of Imo State, Hon. Ikenga Ugochinyere Ikeagwuonu, has hailed Nigerian billionaire businessman, Benedi ...
Markets swing ahead of US jobs as rate cut hopes fade
A forecast-beating US jobs report could deal a blow to markets, though a weak reading could spark another rally in assets. Photo: MARIO TAMA / GETTY IMAGES NORTH AMER ...
Twiga Foods CEO resigns from companys board one month after announcing a half-year sabbatical
Peter Njonjo, the CEO and co-founder of Twiga, has resigned from the company board, arguing that he can only add “very little value” to the company in the future, seemingly con ...
Kano/Jigawa Customs Grows Revenue By 24.4% To N52.7bn
The Kano/Jigawa Area Command of Nigeria Customs Service said it has recorded N52.7 billion as revenue generated in 2023, noting that it has also witnessed a 24.4 percent surplus increase from the ...
Development Bank Honours FCMB For Supporting SMEs, Green Projects
In recognition of these exceptional contributions, FCMB was honoured by the Development Bank of Nigeria (DBN) at its 2023 Service Ambassadors Awards in Lagos. The bank received accolades as ...
TotalEnergies to review land buyouts in contested Africa projects
Work on the project is well underway, with drilling having begun in mid-2023 and production set for 2025. Photo: BADRU KATUMBA / AFP/FileSource: AFP ...
NNPC, Marketers Deny Clash Over Fuel Pump Price
Key petroleum products marketers have denied having any disputes with the Nigerian National Petroleum Company (NNPC) Limited over a possible pump price adjustment of Premium Motor Spirit (PMS), po ...
Tingo Founder Dozy Mmobuosi charged with securities fraud in the U.S
U.S. prosecutors have shared details of criminal charges brought against Odogwu Dozy Mmobuosi, the founder and CEO of Tingo Group, a Nasdaq-listed “agri-fintech” startup. Mmobu ...
Minister Tasks Private Sector To Lead CNG Promotion Drive
The minister of Information and National Orientation, Mohammed Idris has said that the private sector has a leading role in actualising the federal government initiative on Compressed Natural Gas ...
AMMBAN urges CBN, banks to address cash scarcity, fraud in Nigeria
The leadership of the Taraba State chapter of the Association of Mobile Money and Bank Agents in Nigeria, AMMBAN, has called on the Central Bank of Nigeria (CBN) and commercial banks t ...
Increasing 2024 Budget To N28.7trn Unrealistic – Expert
A financial expert, Dr Uche Uwaleke says an increase in the size of the 2024 budget by the National Assembly will render the inflation rate projection of 21.4 per cent for 2024 unrealistic.
Investments: NIPC Grants Tax Exemptions To 34 Firms
The Nigerian Investment Promotion Commission (NIPC) said it had granted three years tax exemption to 34 companies in 2023. Head of Incentives Administration, NIPC, Lovina Kayode,told newsme ...
No Plan To Raise Electricity Tariffs – NERC
The Nigerian Electricity Regulatory Commission (NERC) has officially cleared the air, dismissing widespread rumours of an increase in electricity tariffs starting January 1st, 2024. Reports ...
Directors Mourn Ijewere, Say Demise Big Blow To Institute
The Chartered Institute of Directors Nigeria (CIoD) has described the demise of its past president, Emmanuel Ijewere, as a sad development and a big blow to the institute. Director General, ...