Dangote, BUA, Lafarge and other cement major manufacturers agreed to reduce the price of cement after a meeting with the federal government. The meeting initiated by the minister of Works, David Umahi…
Category: Business
SEC to issue new anti-money laundering regulations for digital assets operators
The Securities and Exchange Commission (SEC) says it has developed new guidelines for licensing, registration and screening of digital and virtual assets service providers (VASPs). According to the Central Bank of Nigeria…
Dangote Set to Increase Shareholders’ Dividends
Nigeria and Africa’s richest man, Aliko Dangote, is set to receive about N146.5 billion as dividends from Dangote Cement. Africa’s wealthiest man, Aliko Dangote, is set to receive a substantial dividend of…
Access Bank to Begin Sharing N50bn Loan to Nigerians, Gives Condition to Apply
Deputy managing director of Access Bank,Victor Etuokwu, disclosed this at a news conference held recently at the bank’s Lagos headquarters. Etuokwu said MSMEs that would benefit from the initiative would receive training…
Amazon founder Jeff Bezos dethroned Elon Musk to reclaim world’s richest man, new networth
Amazon founder Jeff Bezos on Monday dethroned Elon Musk to reclaim his spot as the world’s richest man. Bezos’ net worth stands at $200billion, according to the tracker, surpassing the Tesla chief’s…
Binance Platform Set To Exit Nigerian Market, Stops Services
Popular cryptocurrency trading platform, Binance has informed its users in Nigeria that any remaining NGN balances will be automatically converted to Tether (USDT) stablecoin after March 8, 2024. This is coming as…
Binance Will Destroy Nigeria’s Economy If Not Stopped – Onanuga
According to the interview on channel tv, Presidential spokesman, Bayo Onanuga, says if not stopped, cryptocurrency trading website Binance will destroy the Nigerian economy by arbitrarily fixing foreign exchange rate.“If we don’t…
Two senior executives at Binance have been detained in Nigeria
FG reportedly detains two Binance executives in Abuja, demands list of Nigerians on its platform. Nuhu Ribadu, the national security adviser has detained two executives of the Binance crypto exchange platform &…
Reason why US multinationals must invest in Lagos — Sanwo-Olu
Governor of Lagos State Babajide Sanwo-Olu has reiterated his administration’s commitment to creating a welcoming environment for investment, particularly emphasizing the potential of multinationals from the United States and Africa. This pledge…
IMF Welcomes CBN’s Removal of FX Restrictions on 43 Items
*Says Tinubu’s reforms need time to yield desired results *I feel your yearnings, World Bank President tells Nigerian entrepreneurs Obinna Chima, Eromosele Abiodun and Nume Ekeghe in Marrakech The International Monetary Fund…
Nigerian Banks With Highest Staff Salaries Payout
Nigerian banks listed on the Nigerian Exchange committed N377.70 billion as personnel expenses to their staff in the first half of 2023. This represents an increase of 10.43% compared to the N342.01…
Governor of Zamfara orders to shoot at sight of those involved in illegal mining
Governor Dauda Lawal of Zamfara State, yesterday, imposed a ban on unlawful mining operations and directed law enforcement authorities to implement rigorous measures, including an order to shoot at sight against those…
Nigerian Cryptocurrency Transactions Increase By 9% To $56bn
Nigeria’s volume of Cryptocurrency transactions experienced a 9% year-over-year growth, surging to a total of $56.7 billion during the period spanning July 2022 to June 2023. According to a report by the…
Banks make N72,723 billion on account maintenance fees.
11 Banks listed on the floor of the Nigerian Exchange generated N72.723 billion from account maintenance charges in the half year of 2023. This is according to data extracted from the half-year…