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FG borrowed ₦11.9tn in 31 months, says Oyedele

Finance

States’ 2026 budgets rise 47.5% to ₦40.14tn

Finance

Gombe approves ₦148.762m monthly subvention for state university

Finance

Ekiti approves ₦3bn for new high court office complex

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Business

Geregu Power, Siemens energy partner to expand power plant capacity

Nigeria’s foremost power generation solutions provider, Geregu Power Plc and Siemens Energy have partnered to expand the capacity of the Geregu 1 power plant in the country. This was disclosed in a notice, the company filed with the Nigerian Exchange Limited on Friday. The collaboration formalized through a Memorandum of Understanding (MoU) signed in Berlin […]

Union Bank exit crashes NGX cap to N132bn
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Union Bank affirms commitment to empowering children

Union Bank of Nigeria has affirmed its commitment to empowering Nigerian children during this year’s Children Day’s celebration. This disclosure was made by the Managing Director/Chief Executive Officer, Yetunde Oni during the bank’s special Barnyard Fiesta, themed ‘For Every Child, Every Right’ at its multiple-purpose Sports complex, held in Lagos, according to The Punch. Kids […]

Crypto

Five things to know about the $DAVIDO meme coin

Alex Omenye Nigeria’s Afrobeat superstar, David Adeleke, popularly known as Davido, announced the launch of his cryptocurrency token, “Timeless Davido” ($DAVIDO), on Wednesday. This memecoin, inspired by the artist himself, joins a growing trend of celebrity-themed tokens in the crypto market. Davido shared the news on his X handle, with the official Solana account acknowledging […]

Crypto

Global cryptocurrency ownership surges to 562 million

Global adoption of cryptocurrencies has risen to 562 million, marking a 34% increase from 2023. The significant growth shows the growing reach of digital assets which are now owned by about 6.8% of the world population., according to Nairametrics. Triple A’s report revealed that there are now 562 million cryptocurrency owners worldwide, providing a detailed […]

ExxonMobil vacates Lagos office, opts for smaller space
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ExxonMobil vacates Lagos office, opts for smaller space

ExxonMobil is vacating its expansive offices in Lagos as its 33-year lease expires on Friday, Reuters reported on Friday. This move is part of the oil giant’s broader strategy to reduce its operations in Nigeria. In a similar trend, oil companies such as Shell, TotalEnergies, and Eni have attempted to exit Nigeria’s oil-rich Niger Delta […]

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Top five banks in Q1 2024 based on pre-tax profit

Banks have continued to record impressive financial results in the first quarter of 2024, after a strong year in 2023. For instance, in the first quarter of 2024, GTCO achieved the highest profit ever recorded in the banking industry. A collective sum of N1.58 trillion in pre-tax profit was announced by eleven banks in their […]

World Bank bans Nigerian companies, CEO over fraudulent practices
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FG secures $500m world bank loan for power distribution

The federal government has secured a $500 million loan from the World Bank aimed at improving power distribution in Nigeria’s electricity sector. This development comes in the wake of last month’s tariff increase for top consumers across the country. The Bureau of Public Enterprise announced on Thursday that the World Bank had approved the loan […]

has presented its 2024 Regulatory Impact Assessment, a comprehensive review aimed at overhauling existing telecom regulations
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NCC targets 50% quality service improvement in 2024

Nigerian Communication Commission stated that it is working towards achieving a 50% improvement in the quality of service in the telecommunications industry by year’s end. In a statement signed by its Director of Public Affairs, Reuben Mouka, the Commission highlighted the telecom regulator’s activities in the first year of President Bola Tinubu’s administration, according to […]

Banking

CIBN, ACAMB plan to boost customer satisfaction

The Chartered Institute of Bankers of Nigeria and the Association of Corporate Affairs Managers of Banks are prepared to enhance customer experience in the banking industry. This was disclosed at the third ACAMB Stakeholders Conference 2024 held in Lagos on Thursday with the theme ‘Building Bridges: Collaborative Solutions for a Trusted Banking and Financial Services […]

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NNPC, ExxonMobil resolve dispute over assets divestment

The Nigerian National Petroleum Company Limited and ExxonMobil have made progress in resolving the dispute over the sale of ExxonMobil’s asset to Seplat Energy, potentially leading to Nigeria increasing its daily crude oil output by 480,000 barrels. The NNPCL officially announced on Thursday that it has reached a settlement agreement with ExxonMobil companies operating in […]

Nigeria, others spent $1.4trn on debt servicing in 2023 - World Bank
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FG receives $500m W’Bank loan for power distribution

The Federal Government has secured a $500m World Bank loan to bolster Nigeria’s electricity distribution sector. This was disclosed by the Bureau of Public Enterprises announced on Thursday, according to The Punch. The power distribution companies in Nigeria have faced significant criticism for being the most vulnerable aspect of the nation’s power value chain, mainly […]

News

Job cuts loom as ExxonMobil scales down Nigeria operations

Exxon Mobil is scaling down its operations in Nigeria as it moves to reduce its office space in Lagos while curtailing activities in Nigeria. Exxon has moved out of its enormous Lagos offices and opted for a more compact location. Similar reductions are expected in other Nigerian cities where the company is active, according to […]

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