Posted in NAIJA BIZ

NNPC was trying to hide the fact that it’s “broke and indebted”

In a surprising development, evidence shows that Nigeria’s state-owned oil company —  the Nigerian National Petroleum Commission (NNPC) —  was broke and indebted earlier this year, even…

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NCC approves new owner for 9mobile

The Nigerian Communications Commission (NCC) has approved the transfer of 9 mobile to new investor, Investment Holding Company, Teleology Holdings Limited. According to Reuters the…

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FALSE: Diamond Bank denies rumoured acquisition talks

Diamond Bank Plc, in a notice, sent to the Nigerian Stock Exchange (NSE) has refuted rumours, the lender is in discussions with Access Bank to acquire…

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Top 7 facts about the new Interswitch Block Chain Service (Supply Chain Financing Module)

The demand for blockchain-based services is on the increase globally, while the technology powering these services is growing at a rapid pace. The potential applications…

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Coca-Cola set to release its own energy drink

Coca-Cola has revealed plans to launch a range of energy drinks for the first time on its own brand name as it intensifies efforts to…

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Air Peace explains delay in its international operation

Leading Nigerian airline company, Air Peace, on Sunday disclosed that the reason why it has not commenced international flight operations is due to the fact that…

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Access Bank denies plans to acquire Diamond Bank

Access Bank Plc has debunked reports in some major daily newspaper on plans to acquire Diamond Bank. In a statement by the bank, it noted that…

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OPEC moves to combat plummeting oil prices

As uncertainty beclouds the future of crude prices, members of the Organisation of Petroleum Exporting Countries (OPEC), met yesterday November 11th, in Abu Dhabi to…

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“I am not a politician”, Fiery Emefiele rebukes critics at CFA Summit

CBN Governor, Godwin Emefiele, fired shots at critics of the apex bank’s policies at the second Nigeria Investment Conference organised by the CFA Nigeria charter. The event which…

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FirstBank Chat Banking, most secured WhatsApp banking channel in Nigeria

Tier 1 lender, First Bank of Nigeria Limited (a subsidiary of FBN Holdings) launched a WhatsApp banking channel, FirstBank Chat Banking for its customers who…

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Vlisco Group to create 700,000 jobs with $200 million cotton investment

Vlisco Group has proposed an investment of $200 million in Nigeria’s cotton industry, which is expected to create over 700,000 jobs. President Muhammadu Buhari has welcomed the company’s plan…

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Failed Banks: NDIC to commence claims payment of depositors

Umaru Ibrahim, the Managing Director of Nigeria Deposit Insurance Corporation (NDIC), has assured that the corporation would soon commence claims payment to depositors of failed microfinance…

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We have not received any offer from investors to inject cash- Diamond Bank

The Board of Diamond Bank Plc (Diamond Bank or the Company) notes the media speculation relating to comments attributed to its former Chairman, Mr Oluseyi…

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NCC’s restriction on VAS is endangering Telcos – ALTON

In an interview, Gbenga Adebayo, Chairman of the Association of Licensed Telecoms Companies of Nigeria  (ALTON) – which comprises Nigeria’s largest GSM operators: Glo, 9Mobile, Airtel, MTN Nigeria,…

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Nigerian-owned shops reopen in Ghana after weeks of forced shut-down

Nigerian small business owners in Ghana have finally reopened their shops after months of alleged Government-backed shut-downs. President of the Nigerian Union of Traders Association Ghana (NUTAG),…

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MTN builds partner ecosystem

MTN Nigeria along with hundreds of Nigerian businesses; large-scale to SMEs, came together for the ICT Company’s maiden Partner Summit, themed ‘MTN Fusion’. The Partner Summit,…

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MTN and CBN may reach settlement soon

MTN  long running battles with the Central Bank of Nigeria (CBN) and office of the Attorney General of the Federation (AGF) may be close to resolution. The…

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Report shows Nigerians now drink more of Coca-Cola

Coca-Cola HBC AG, the parent company for The Coca-Cola Company in sub-Saharan Africa and Europe said its volumes in Nigeria saw some significant growth in…

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Dangote Cement may acquire Kenyan cement company

Reports have it that Dangote Cement has been approached about a potential transaction by advisers to debt-laden Kenyan Cement company, ARM Cement, which went into…

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Apapa gridlock may cost Dangote Group over N15 billion this year

Companies operating under the Dangote Group may lose over N15 billion as profit foregone, to the Apapa gridlock in 2018. The Group disclosed this in…

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