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Business news…
NNPC Seeks $2bn Oil-Backed Loan To Finance Operations, Gas Projects
The Nigerian National Petroleum Corporation (NNPC) Ltd. is seeking a $2 billion oil-backed loan to finance its operations and gas projects, according to Reuters.
The loan, which is expected to be secured within the next two months, will … Continue Reading
CAC Sets new deadline for pOS agents registration
The Corporate Affairs Commission (CAC) has announced a 60-day extension of the deadline for Point of Sales agents, super agents, and sole agents to register with the commission. The initial deadline of July 7th, 2024, has been pushed back … Continue Reading
We lost billions of naira worth of investment in Nigeria’s textile industry – dangote
Africa’s richest man, Aliko Dangote, has shared a sobering tale about his company’s venture into Nigeria’s textile industry during the 1960s. At the 2024 Manufacturers Association of Nigeria (MAN) summit in Abuja, Dangote recounted how his company invested heavily … Continue Reading
Housemaid reveals last words with konga Ex-CEO Before his death
The sudden demise of Nick Imudia, the former CEO of Nigerian e-commerce giant Konga, has sparked a wave of intrigue and speculation. According to a trusted maid who worked for Imudia, his last conversation with her was unusual and … Continue Reading
FG Licenses 6 companies to distribute power Independently
Nigeria’s Federal Government has issued six licenses to independent electricity distribution firms, a move aimed at improving electricity access and reliability in the country. The Nigerian Electricity Regulatory Commission (NERC) revealed that the licenses were issued to companies that will … Continue Reading
Billionaire Businessman, femi Otedola Ups Stake in First Bank of Nigeria Holdings
Billionaire businessman, Femi Otedola, has further strengthened his grip on First Bank of Nigeria Holdings (FBN) by acquiring additional shares in the company. According to a recent filing with the Nigerian Exchange Limited, Otedola purchased 9,193,339 units of shares … Continue Reading
We have No plans to leave Nigeria – ExxonMobil
In a recent meeting with the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, ExxonMobil’s Managing Director, Shane Harris, has dispelled rumors of the oil major’s departure from Nigeria. Harris assured the minister that ExxonMobil is actively investing … Continue Reading
Nigeria Boosts Economy with $5m Gold Sales, Injects N6bn into Rural Economy
Nigeria has successfully sold raw gold at the London Bullion Market Association, generating $5 million and increasing the country’s foreign reserves.
The sales also resulted in the refining of over 70 kilograms of gold to the London Bullion Market … Continue Reading
Atedo Peterside Exits Banking Business After Over Three Decades
Atedo Peterside, the founder of Stanbic-IBTC Bank, has announced his departure from the banking sector, marking the end of a distinguished 35-year career. Peterside made this announcement via his verified social media page, reflecting on his extensive journey.… Continue Reading
India’s financial intelligence unit fines Binance $2.25m for money laundering
In a major regulatory setback, India’s Financial Intelligence Unit (FIU) has imposed a fine of $2.25 million (approximately 188.2 million rupees) on Binance, the world’s largest cryptocurrency exchange, for operating in the country without registering with the agency, as required … Continue Reading