Category: Business News
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Lagos State Governor Unveils Ecobank Pan African Centre, Lauds Bank’s Smart Building Initiative
Lagos State governor, Babajide Sanwo-Olu has said the new ultra-modern Ecobank Nigeria head office, the Ecobank Pan African Centre (EPAC) has a strong
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CBN confirms disappearance of eNaira App on Google Play Store, gives reasons
he Central Bank of Nigeria (CBN) has explained the reason for the sudden disappearance of the newly launched e-naira speed wallet from Google’s play store.
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FBNHoldings appoints Nnamdi Okonkwo as GMD, renews Adeduntan’s apppointment
The Board of FBN Holdings Plc (FBNHoldings) has appointed the immediate past Managing Director of Fidelity Bank Plc., Mr. Nnamdi Okonkwo as its Group Managing Director. Okonkwo’s appointment takes effect from January 1, 2022. His appointment followed the retirement of Mr. U.K. Eke, who has completed his two-term tenure. Uke, according to the board, tendered…
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No business can survive without generators in Nigeria – AfDB President, Adesina
President of the African Development Bank Group, Akinwumi Adesina, on Tuesday lamented that a paucity of energy was negatively affecting the growth of Nigerian industries.
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Multichoice Africa loses suit over dispute on $342m outstanding tax to FIRS
South African Company, Multichoice Africa Holdings B.V has lost the legal battle with the Nigerian government-owned Federal Inland Revenue Services (FIRS) over the disputed $342 million tax has been struck out. The Tax Appeal Tribunal, on Tuesday, struck out the appeal by the company for want of diligent prosecution and ordered It to pay up…
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Court acquits ex-SEC DG Gwarzo of corruption
The Federal High Court of the Federal Capital Territory (FCT), Apo, Abuja at the weekend upheld the no case submission filed by suspended Director General
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BREAKING: Femi Otedola now majority shareholder of FBN Holdings, owners of First Bank [How it happened]
Report reaching TheNewsGuru(TNG) indicates that billionaire Femi Otedola, has acquired the majority shares in FBN Holdings, owners of First Bank of Nigeria Limited. Otedola reportedly took over the bank with the acquisition of about ₦30 billion worth of shares, making him the single largest shareholder of the bank. Otedola, being the largest shareholder, holds the…
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IMF upgrades Nigeria’s economic growth forecast to 2.7%
The International Monetary Fund, IMF, has upgraded its forecast for Nigeria’s economic growth in 2022 and 2021 to 2.7 per cent and 2.6 per cent respectively, citing recovery in non-oil sectors and the rising price of crude oil. The IMF had earlier in April projected that Nigeria’s economy will grow by 2.3 per cent and…
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Naira falls at official market
Naira fell marginally against the U.S. dollar at the official market on Thursday, after the currency appreciated for three consecutive sessions on a stretch at the market segment. The currency traded with the foreign currency at N415.07 to a dollar, which implies a N1.00 or 0.24 per cent depreciation from the N414.07 rate it exchanged…
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Global oil prices won’t decline until 2023 – World Bank
The stunning recent runup in global oil prices could threaten economic growth and is unlikely to retreat until 2023, the World Bank said Thursday.