Business
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Heirs Technologies dips hands into $250bn global outsourcing market
A subsidiary of the Tony Elumelu majority-owned holding company, Heirs Technologies, wants to become like Tek Experts, a company which…
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Access Bank lost over ₦6 billion to fraud last year
Access Bank, Nigeria's largest commercial bank by assets, reported losses of ₦6.15 billion from fraud and forgery, in 2023, up…
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Yango introduces Cargo Express to boost deliveries across Africa
Yango Delivery, a logistics startup focused on in-city service delivery, has introduced Cargo Express, a new feature to improve the…
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DISCOs generated N294.9bn in Q4 2023 – NBS
The National Bureau of Statistics (NBS) disclosed that Electricity Distribution Companies, DISCOs, in Nigeria generated a total of N294.95 billion in…
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Electricity consumers rose to 12.12m in Q4 2023 – NBS
The number of electricity consumers rose by 410,000 from 11.71 million in the third quarter of 2023 to 12.12 million…
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Railway Corporation generated N1.07bn in Q4 2023- NBS
The Nigerian Railway Corporation generated N1.07 bn as revenue from passengers in Q4 of 2023, the National Bureau of Statistics…
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LASG, FAAN sign MoU on 28km road project
The Lagos State Government, through the Office of Public-Private Partnerships and the State Ministry of Works and Infrastructure, has signed…
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TCN raises alarm over planned attack on electricity facility
The Transmission Company of Nigeria (TCN) has raised the alarm about a planned attack on its facility in the Zuba…
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FG considers transporting crude oil by trucks amid pipeline vandalism
The Federal Government has implemented a virtual method of evacuating crude oil, utilizing barges and trucks for transporting crude from…
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Economy: CBN boasts of working Monetary Policy effort, records over $1.5bn inflow
The Central Bank of Nigeria has said that it has recorded an inflow of over $1.5 bn into the economy…
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National Grid Successfully Restored After Collapse – TCN
The Transmission Company of Nigeria (TCN) says it has successfully restored the national grid following a system disturbance at 4:28…
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Geregu Power shareholders approve N20bn dividend
The board of directors of Geregu Power Plc’s proposed N20bn dividend has been approved by shareholders. The approval was given…
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CBN raises capital base for mega banks to N500bn
The Central Bank of Nigeria has announced new guidelines on its recapitalisation policy for banks in the country. This coming…
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EFCC takes over Binance probe, plans fleeing executive’s extradition
The Economy and Financial Crimes Commission has charged Binance Holdings Limited and two of its senior executives, Tigran Gambaryan, and…
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Absa Bank Kenya, Visa partner to ease payments for travel agents
Absa Bank Kenya and Visa have partnered to launch the Visa Commercial Choice Programme (VCCP), a new “Corporate Card” solution…
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NNPCL refutes claims on adjusting fuel prices
The Nigerian National Petroleum Company Limited has denied claims that it has reduced the pump prices of petrol and diesel.…
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CBE recovers $10 million from system glitch $14 million loss
Commercial Bank of Ethiopia (CBE) has reportedly recovered around $10 million from customers who withdrew funds they did not own,…
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Public debt stock rises to N97.34tr in Q4 2023 – NBS
Nigeria’s public debt stock rose from N87.91 trillion (114.35 billion dollars ) in the third quarter of 2023 to N97.34…
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OBJ describes self “a mad man for agriculture,” link banditry, kidnapping to Unemployment
Former President Olusegun Obasanjo has linked the growing activities of bandits and kidnappers to the unemployment situation in the country.…
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FG to review oil firm’s plans on gas flaring
The Minister of State for Environment, Dr. Iziaq Salako, has stated that the ministry, in partnership with the National Oil…
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NCC insists on SIM-NIN deadline, telcos bar lines Friday
Telecommunication companies will disconnect more Subscriber Identity Module (SIM) numbers not linked to National Identification Numbers (NIN) on Friday, March…
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Visa, Mastercard reach $30 billion settlement over credit card fees
Visa and Mastercard reached an estimated $30 billion settlement to limit credit and debit card fees for merchants, with some savings…
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MPC Meeting: CBN increases interest rate to 24.75%
The Monetary Policy Committee of the Central Bank of Nigeria has today concluded its two-day meeting for March 2024. This…
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Binance: FG contacts INTERPOL, soldiers held over Anjarwalla’s escape
The Federal Government, on Monday, said it has contacted the International Criminal Police Organisation and issued an arrest warrant for…
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CBN directs BDCs to sell dollar at N1,269
The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at…
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Tax Evasion: FG takes legal action against Binance
The Federal Government has taken legal action against Binance, a prominent cryptocurrency exchange platform with a four-count tax evasion accusation…
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NIN: Telcos Set For Next Round Of SIM Disconnections
Telecom operators in Nigeria are preparing for another possible wave of disconnections for subscribers who have not adequately linked their…
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Access Bank makes progress in NBK acquisition
Access Bank Group, a Nigerian financial services conglomerate, could acquire the National Bank of Kenya (NBK) from its parent company,…
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FAAC shares N 1.2trn to FG, States, LGs
The Federation Account Allocation Committee shared N1.152.trn to the three tiers of government for February 2024 from a gross total…
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FBN Holdings appoints 5 new directors
On Wednesday, the Chairman of FBN Holdings Plc announced the appointment of two new non-executive directors for the holding company…
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Manufacturers’ income tax falls by 6.85% in Q4’23
Reflecting the evident challenges experienced by manufacturing companies in Nigeria, the income tax payments by manufacturers decreased by 6.85 percent…
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Access Bank to acquire another Kenyan bank
Access Bank is on the verge of acquiring the National Bank of Kenya (NBK), a subsidiary of KCB Group, years…
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Petrol price stands at N679.36 in February – NBS
According to the National Bureau of Statistics (NBS), the average retail price of one liter of petrol rose from N263.76…
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CBN lifts FX restrictions on milk, other products
The Central Bank of Nigeria (CBN) has lifted the restrictions on the importation of milk and dairy products. In a…
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Commercial Bank of Ethiopia loses $40 million to glitch, calls on students to return stolen cash
The staff of the Commercial Bank of Ethiopia (CBE) went into panic mode when they realized customers had access to…
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Nigeria’s oil, gas exploration rises 23%
The upward momentum in oil and gas exploration activities continued in February, with the rig count, a key indicator of…
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Revenue: FG, states, LGs allocations hit N10.14tn
The revenue allocations from the Federation Account, distributed among the three tiers of government in 2023, amounted to N10.14 trillion.…
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N30trn Ways and Means: Senate urges banks to go after loan defaulters
The Senate Ad-hoc Committee, probing the N30 trillion Ways and Means, remained resolute on Tuesday in its call for the…
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Alleged Market Manipulation: EFCC obtains order to track Nigerians transacting on Binance
The Federal High Court in Abuja, on Monday, ordered Binance Holdings Limited to provide the Economic and Financial Crimes Commission…
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Access Bank launches YouThrive initiative for MSMEs
Access Bank, Nigeria’s most popular bank, has launched the “YouThrive” initiative which targets to empower 700,000 Micro, Small and Medium…
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