Category: Business News
-
One of Nigeria’s largest markets, Alaba International shut down over activities of RTEAN members
One of the five largest Nigerian markets, Alaba International, has been shut down by the market traders association following a clash between traders and hoodlums, under the auspices of the Road Transport Employers Association of Nigeria (RTEAN) on Wednesday. The RTEAN members were accused of extorting traders in the market, which sparked a collective condemnation…
-
Nigeria, Cameroon to join Ivory-Ghana cocoa initiative
Nigeria and Cameroon have requested to join the Cote d’Ivoire-Ghana Cocoa Initiative (CIGCI), a joint body spearheading the interests of the two countries in the cocoa trade. This was revealed on Wednesday by the head of the initiative, Alex Assanvo. The initiative was set up after a 2018 declaration by Ivory Coast and Ghana, the…
-
How CBN’s raised 15.5% interest rate ‘ll put Nigerians on harder times
Following the Central Bank of Nigeria (CBN) hiked Monetary Policy Rate (MPR) to 15.5 percent, the highest ever in 20 years, Nigerians stand to face harder times. The increase came yesterday at the end of its Monetary Policy Committee meeting, which started on Monday in Abuja. CBN Governor, Godwin Emefiele, who announced the new rate,…
-
Check out football transfer business across European leagues
Newcastle and West Ham are watching events at United closely, they are both interested in Scotland international Scott McTominay, 25, as they believe he is the most likely midfielder to be pushed aside with the arrival of Casemiro.
-
Emirates Airlines suspends all flight operations in Nigeria
The Emirate Airlines has announced that it would suspend operations in Nigeria starting from September 1, 2022. The decision by Emirates Airlines to stop operations in Nigeria was announced via a statement on Thursday morning in Lagos.
-
Lekki sea port welcomes second ship from Shangai
The Lekki Deep Seaport welcomed its second ship on Friday August 5 days after receiving its first. The ship ZEN-HUA 35 which arrived from China conveyed shipment of two ships to the Lekki Deep Seaport shore. The packages includes, Five Rubber Tyres, and accessories from Shangai in China.
-
MOMO PSB: MTN’s Mobile Money Bank suffers N22B alleged fraud
Barely a month that it commenced operations, the newly licensed Mobile Money Payment Service Bank Limited (MOMO PSB), a banking subsidiary of MTN Communications Limited. has suffered a massive fraud worth over N22 billion on its network. Court processes in a suit instituted by the Mobile Money Bank against 18 Banks revealed that an aggregate…
-
Bitcoin depreciates below $20,000 as crypto selloff quickens
The price of bitcoin fell below $20,000 on Saturday for the first time since late 2020, in a fresh sign that the selloff in cryptocurrencies is deepening. Bitcoin, the most popular cryptocurrency, fell below the psychologically important threshold, dropping by as much as 12% to less than $18,100 by late afternoon on the East Coast,…
-
How JP Morgan argued to win $1.7 billion case against Nigeria
JP Morgan Chase has won a $1.7 billion London High Court battle against Nigeria over its role in a disputed 2011 oilfield deals involving energy majors Shell and Eni. Nigeria had filed a lawsuit against U.S. bank JP Morgan Chase at a London high court in February, claiming more than $1.7 billion as damages. The…
-
Burna Boy explains why he’ll be paid for Odogwu Bitters
Grammy winner, Damini Ogulu, better known as Burna Boy, has explained why socialite Obi Cubana would pay him for his herbal drink, Odogwu Bitters. According to the musician, Obi Cubana used his ‘Odogwu’ title as the name of his herbal drink.