Business

The rhythm of Nigeria's business world
Wakanda
2 min read
Image Credit: Nick Charlie Munger, the influential figure alongside Warren Buffett in shaping Berkshire Hathaway into a financial powerhouse, has died at a California hospital at the age of 99, just over a month before his 100th birthday. Berkshire Hathaway confirmed Munger's passing and...
Wakanda
1 min read
In a groundbreaking report, various campaign groups reveal that sub-Saharan Africa is, in fact, a net creditor to the rest of the world, with over $41 billion leaving the continent. Despite $161 billion flowing in through loans, remittances, and aid, an alarming $203 billion exits Africa. This...
Wakanda
1 min read
The Central Bank of Nigeria (CBN) has announced its intention to conduct a comprehensive review of its licensing framework for payment services. CBN Governor, Olayemi Cardoso, highlighted concerns about recent developments in the payment services sector, emphasizing the need for a regulatory and...
Wakanda
1 min read
President Bola Tinubu has reappointed Mallam Mele Kolo Kyari as the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL). This decision is part of a broader reshuffle that unveils a new board and management team, effective December 1, 2023. Kyari's unexpected...
Wakanda
1 min read
A recent report from the Nigeria Extractive Industries Transparency Initiative (NEITI) has revealed that the 36 states, Federal Capital Territory (FCT), and 774 local government councils in Nigeria collectively received N8.79 trillion in 2020 and 2021 through Federation Account allocations...
Wakanda
1 min read
Dangote Refinery, led by founder Aliko Dangote, has successfully secured its inaugural cargo deal, totaling 6 million barrels, set for delivery as the much-anticipated project gears up for operations at 350,000 barrels per day starting next month. A significant development in Nigeria's energy...
Wakanda
1 min read
In a groundbreaking decision, Mrs. Justice May of the United Kingdom High Court has granted over 13,000 farmers and fishermen from the Niger Delta communities of Ogale and Bille the permission to proceed with their claims against Shell. The communities allege that chronic pollution of their...
Wakanda
1 min read
Dubai Chamber has extended its global footprint by inaugurating a trade office in Lagos, Nigeria, as part of its expansive foray into Africa. The move aims to tap into the burgeoning business potential in Nigeria and the broader West Africa region. Mohammad Lootah, President and CEO of Dubai...
Wakanda
1 min read
Nigeria's Central Bank Governor, Olayemi Cardoso, disclosed a staggering $1.4 billion revenue drop between 2015 and 2019 due to forex restrictions on 43 key items. The revelation, made during a keynote address at the Chartered Institute of Bankers of Nigeria, highlighted a 51.0% increase in...
Wakanda
1 min read
In a significant address at the 58th Annual Dinner of the Chartered Institute of Bankers of Nigeria, CBN Governor Dr. Olayemi Cardoso revealed plans to direct Deposit Money Banks to bolster their capital base. The move is a response to President Bola Tinubu's ambitious projection of a $1tn...
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