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76% CBN Anchor Borrowers’ loans unpaid – IMF

The International Monetary Fund has confirmed that 76 percent of loans disbursed under the Central Bank of Nigeria’s Anchor Borrowers’ Programme, for farmers have not been returned. This is according to information provided by the International Monetary Fund in its Selected Issues paper on Nigeria. The issue paper was created by the fund’s staff team […]

Stock Market analysis
Business featured

Nigeria’s stock market hits N30trn amid elections

The total market value of Nigerian stocks hit N30 trillion on Monday, amid the uncertainty surrounding the result of Saturday’s general election. BusinessDay reported that Nigerian Exchange Limited All-Share Index and the market capitalisation of equities rised to 55,328.42 points and N30.14 trillion from preceding day’s low of 54,949.21 points and N29.93 trillion respectively. The […]

Tesla grants Elon Musk $29bn in shares
Business

Elon Musk becomes world’s richest man again

Tesla Chief Executive Officer, Elon Musk, has regained his title of the richest man in the world, after losing it for 82 days.   He had lost the title to French billionaire, Bernard Arnault, CEO, of LVMH Moët Hennessy Louis Vuitton, the world’s largest luxury goods company, on December 8, 2022, steming from controversies surrounding […]

First Bank's deputy MD Gbenga Shobo resigns
Banking

First Bank’s deputy MD Gbenga Shobo resigns

The First Bank of Nigeria’s deputy managing director, Mr. Gbenga Shobo,  has resigned from the company’s board of directors with immediate effect. Shobo’s departure came after CBN recently reviewed the term restrictions for bank managing directors, deputy managing directors, executive directors, and other officials, according to a tweet from Proshare. According to the latest CBN circular […]

Tesla Germany produces 4000 cars weekly beyond projection
News

Tesla Germany produces 4000 cars weekly beyond projection

Global manufacturer of automobiles, Tesla, announced on Monday that its German factory in Brandenburg, close to Berlin, is now manufacturing 4,000 cars per week, quadrupling from May when Chief Executive, Elon Musk had equated investment in Tesla’s new factories to “gigantic money furnaces.” The Berlin factory achieved its production goal three weeks earlier than the […]

Google mailing service- Gmail
Business

Gmail service now restored worldwide after hour-long outage

Google’s email service, which crashed for some minutes worldwide, has been restored. It is now back up and running after the short outage. DailyMail reported earlier in the afternoon on Monday that Down Detector, a website’s real-time information provider, showed that the down time began at 2:08 PM. This affected some of its 1.5 billion […]

An energy bill notification on phone
Business

Uk energy regulator reduces power bill price cap

UkThe Office of Gas and Electricity Markets, a UK energy regulator, on Monday reduced its price cap on energy bills for households starting April. According to Reuters, Ofgem lowered the cap to a yearly cost of 3,280 pounds ($3,925.18) from the current 4,279 pounds for a dual-fuel household, which shows a reduction in the wholesale […]

Business

NCCA hails Dana Air over safety standard

The Nigerian Civil Aviation Authority has commended Dana Air for its safety standard as it recently grounded its airplanes for proper maintenance checks. The Director General of NCAA, Captain Musa Nuhu, disclosed this to The Punch in Abuja. According to the aviation Director, the airline stopped all flying operations to carry out maintenance checks on […]

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Business Uncategorized

Nissan raises EV sales target, catches up with Tesla 

Japanese auto manufacturer, Nissan, has on Monday, raised its electric vehicles sales target. According to Reuters, Nissan said it will enhance powertrain production in the United States, as it tries to catch up in the market dominated by new automakers like Tesla. The Chief Operating Officer of Nissan, Ashwani Gupta made this statement on Monday […]

Nokia Rebranding
Business featured

Nokia rebrands first time in 60 years 

Nokia announced plans on Sunday to rebrand, change its logo for the first time in close to 60 years as it drives aggressive growth. According to the CEO, Pekka Lundmark, the new Nokia’s branding reflects its new focus as a business technology company. He said during an interview with Reuters, “There was an association with […]

Crude hits $83 as Nigeria's export passes 1.4mbpd
Oil and Gas

FG discovers new locations for oil production of 681,000 bpd

The Federal Government has discovered new oil fields with a daily production capacity of 1.52 billion standard cubic feet of gas and 681,000 barrels of crude oil, respectively. According to The Punch, it disclosed this in a document put together by the Nigerian Upstream Petroleum Regulatory Commission titled “Nigerian Upstream Petroleum Sector: Value Optimization, Energy […]

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