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Ekiti approves ₦3bn for new high court office

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FG borrowed ₦11.9tn in 31 months, says Oyedele

Finance

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Finance

Gombe approves ₦148.762m monthly subvention for state university

Finance

Ekiti approves ₦3bn for new high court office complex

Business

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FG unveils revamped Lagos to Kano rail line

The Federal Government has reopened the train route that connects Lagos and Kano after undergoing repairs. This was disclosed by the Minister of Transportation, Saidu Alkali via his official X handle on Thursday. Alkali posted “I am delighted to announce to Nigerians that today, June 6, 2024, the Federal Government led by President Bola Ahmed […]

News

Shareholders of Heritage Bank demand probe of management board

Some members of the minority shareholders community have demanded an investigation of the management and directors of the defunct Heritage Bank. This demand was made in a chat as the Central Bank of Nigeria revoked the license of the bank, according to The Punch. The CBN had announced the revocation of the licence stating “This […]

Business

Johnvents industries receives $23m to expand cocoa processing facility

The agribusiness enterprise Johnvents Industries Limited has received a $23.3 million finance package offer from the International Finance Corporation to improve its cocoa processing activities and boost its export potential to international markets. This was disclosed in a statement on Thursday, according to The Punch. In the statement, it was revealed that the IFC’s $23.3 […]

Aviation

Airline operators reject $300 helicopter landing fee

The Airline Operators of Nigeria, the umbrella body for local airline operators, has rejected the helicopter landing fee stating that aside from lacking a legal framework, the Nigerian Airspace Management Agency does not provide any additional service to helicopter operators to justify the imposition of a landing fee. Following the uproar in the aviation sector, […]

News

Kenyan startup Copia Global lays off over 1,000 employees amid financial struggles

Alex Omenye Two weeks after an internal memo revealed payroll issues, Copia Global, a leading B2C e-commerce platform, has laid off at least 1,060 employees, raising concerns about a potential shutdown or significant downsizing. In a 20-minute staff meeting on Thursday, Copia CEO Tim Steel, along with newly appointed administrators, instructed employees to return company […]

News

Nigerians spent $4.1bn FX in three months

Nigerians spent more dollars or foreign exchange in three months of last year, according to the Central Bank of Nigeria’s most recent Quarterly Statistical Bulletin. This indicates that the total amount of foreign exchange used by the Nigerian economy increased every quarter, according to Businessday. FX utilization increased to USD 4.1 billion in Q4 2023, […]

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FG denies proposing N105, 000 new minimum wage

The Presidency has characterized as fake the story making the rounds that the Minister of Finance and Coordinating Minister for the Economy, Wale Edun, had suggested N105,000 in the new minimum wage design This was disclosed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga via his official X handle on […]

Finance minister presents minimum wage to Tinubu
News

Finance minister presents minimum wage to Tinubu

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun has presented the projected financial implications of implementing a new national minimum wage to President Bola Tinubu. The submission took place at the Presidential Villa on Thursday, meeting the 48-hour deadline set on Tuesday. This move comes in the wake of a nationwide […]

News

Shell invested $42m in developing host communities

Shell Nigeria has said that the firm and its partners invested over $42.2 million in 2023 to improve the host communities. This was disclosed by the company’s Communications, Media, and NGO Relations Manager, Bamidele Odugbesan in a statement, according to The Punch. Odugbesan said that the three Shell firms in Nigeria and their partners spent […]

News

Shell invested $42m in developing host communities

Shell Nigeria has said that the firm and its partners invested over $42.2 million in 2023 to improve the host communities. This was disclosed by the company’s Communications, Media, and NGO Relations Manager, Bamidele Odugbesan in a statement, according to The Punch. Odugbesan said that the three Shell firms in Nigeria and their partners spent […]

NDIC chases Heritage Bank debtors
News

How defunct-Heritage Bank customers can reclaim their funds

The Nigeria Deposit Insurance Corporation has announced the commencement of the liquidation process for Heritage Bank Plc. This move follows the Central Bank of Nigeria’sdecision to revoke the bank’s commercial license with national authorization. In a statement released on Monday, the NDIC, appointed as the liquidator under Section 12(2) of the Banks and Other Financial […]

Amazon cuts jobs in books division amid broader efficiency push
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Amazon to acquire Indian streaming service MX Player

Amazon has reached an agreement to acquire the Indian video streaming service MX Player from Times Internet, marking another strategic move by the e-commerce giant to bolster its presence in smaller cities and towns across India. The definitive agreement, finalized on Wednesday evening, values MX Player at less than $100 million, according to a source […]

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