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Why Nigerian insurance is one of the lowest globally - CPPE

High levies threaten survival of Nigerian airlines, says

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Why Nigerian insurance is one of the lowest globally - CPPE

High levies threaten survival of Nigerian airlines, says CPPE

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Lagos signs power purchase deals to boost supply by

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Hackers breach North Korean spy group’s computer

Italy okays extradition of Chinese hacker wanted by US

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Dangote urges govt, private sector partnership to eliminate malaria

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Fidelity Bank to take over Union Bank UK
Banking

Fidelity Bank to buy Union Bank UK

Fidelity Bank Plc has revealed its plans to acquire a 100 per cent equity stake in Union Bank Plc in the United Kingdom. The Bank via a corporate filing on the Nigerian Exchange Limited on Tuesday said the Central Bank of Nigeria had issued ‘No Objection’ to its proposed acquisition of the bank which commenced […]

Risevest CEO Eke Urum quits over sexual abuse allegations
News

Risevest CEO Eke Urum quits over sexual abuse allegations

The founder and CEO of Nigeria-based stock investment app, Risevest – Eke Eleanya Urum, has stepped down from his role following “allegations of abuse of power and sexual impropriety.” Risevest made this known in a statement made available to AMBusiness on Tuesday, 30th of August 2022. According to the company, Urum “willingly agreed to step […]

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  • 30th August 2022
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Delta airline halts Lagos to New York flights
Aviation

Delta airline halts Lagos to New York flights

Delta Air Lines has announced the cancellation of its flights between New York-JFK and Lagos, effective October 4, 2022. The airline explained the route cancellation in a statement released this morning, saying that they needed to adjust to “the current demand environment.” It read, “Delta is suspending its non-stop service between New York-JFK and Lagos […]

Flights to South-South most expensive - NBS
Aviation

Jet A1: Airlines slash workforce, Dana considers resumption

As the crisis in Nigeria’s aviation industry persists, domestic airlines have continued to reduce their workforce. According to The PUNCH, It was also learned that plans were in the works to hire back some of the laid-off workers, but that this wouldn’t really happen until more planes from the affected airlines started flying again. Airline […]

IATA welcomes CBN's release of $265m to airlines
Aviation

IATA welcomes CBN’s release of $265m to airlines

The International Air Transport Association hailed the Central Bank of Nigeria for releasing 43% of trapped funds to international airlines. AM Business had reported that CBN last weekend released $265million, being part of the over $464 million belonging to the foreign airlines. Foreign airlines collect Naira for their tickets from customers and exchange the same […]

Dangote to slash sugar import by 40%
News

Dangote to slash sugar import by 40%

The management of Dangote Sugar Refinery Plc has said that the company is planning to cut the amount of sugar that is imported into the country by 40 per cent. This was disclosed by the President, Dangote Group, Aliko Dangote via a statement. He revealed that the company is embarking on Phase II of its […]

Oil Theft: Nigeria loses $150m every two days
News

Why oil theft estimates are unrealistic- Navy

The Chief of Naval Staff, Vice Admiral Awwal Gambo has revealed why figures of stolen crude oil which have been made available to the public are unrealistic. Gambo made the disclosure on Monday during an interview on Channels Television while reacting to recent reports of stolen crude oil ranging from 20,000 to 200,000 barrels per […]

X to offer paid users xAI chatbot - Musk
Oil and Gas

World needs oil, gas to survive – Elon Musk

Tesla CEO and the world’s richest person, Elon Musk, has reiterated the need for continued efforts to raise oil and gas exploration in the world. Musk stated this while speaking at a conference in Norway on Monday, according to Forbes. Reuters reported that Musk argued that civilization will crumble if the world stops the use of oil […]

Trapped forex: Expert pushes for ticket purchase in dollars
Aviation featured

Trapped forex: Expert pushes for ticket purchase in dollars

To resolve airlines’ $464m trapped funds, a former Director-General of the Nigerian Civil Aviation Authority, Dr Harold Demuren, proposed that first-class and business class passengers buy tickets in dollars. According to The Punch, Demuren told the Federal Government adding that the economy class passengers can buy their tickets in naira, which he proposed will help […]

SMEs lament multiple taxes, poor power supply
Banking

Primera MFB boosts SMEs with N5bn

Small and Medium Scale Enterprises have enjoyed N5 billion in financing from Primera Microfinance Bank in 2022. According to The Punch, Primera, a fully licensed and technology-driven finance institution that offers financial solutions to businesses and individuals disclosed this in a statement. The bank in the statement explained that it achieved the feat by strategically […]

100% cashless economy possible in Nigeria - Emefiele
Banking

Trapped forex: CBN releases $265m to airlines

In a move to curtail the crisis parading the aviation sector, the Central Bank of Nigeria released the sum of $265 million to airlines operating in the country to settle outstanding ticket sales. According to BusinessDay, breaking the figures, the apex bank released the sum of $230 million as special FX intervention while another sum […]

Africa's GDP grew  6.9% in 2021
Economy

Nigeria’s GDP rose by 3.54% in Q2 2022 – NBS

The Nigeria Bureau of Statistics revealed that the country’s Gross Domestic Product grew by 3.54 per cent in the second quarter of 2022. According to Nairametrics, this is an improvement compared to the 3.11 per cent growth recorded in the previous quarter. On a year-on-year basis, the Q2 2022 growth rate decreased by 1.47 per […]

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