Dangote Tops Forbes Richest In Africa List, Otedola Ranks 20th
American business magazine, Forbes has positioned Femi Otedola as the 20th wealthiest individual in Africa, amassing a fortune of $1.1 billion. In a publication on Monday, Forbes said Aliko Dangote maintains the lead as Africa’s richest with a wealth of $13.9 billion, securing the top spot for the 13th consecutive year. Forbes noted that the combined […]
Apple Watch: US Upholds Ban On Sale Over Patent Dispute
Apple has once again been banned from selling two smartwatch models in the US, while a legal battle continues over a patent dispute. The tech giant was earlier allowed to sell its Series 9 and Ultra 2 watches while proceedings were ongoing – but a US appeals court has since reversed that decision. Imports of […]
Apple Overtakes Samsung As World’s Biggest Phonemaker
Apple now has the lion’s share of the global smartphone market, knocking Samsung off the top spot for the first time in 12 years. The American phone giant accounted for more than a fifth of phones shipped last year, according to data from the International Data Corporation (IDC). Samsung took 19.4% of the market share […]
Shell Agrees To Sell Nigerian Onshore Oil Business To Renaissance Consortium
Shell has announced a deal to sell its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, a consortium of five firms that includes four Nigerian exploration and production companies and an international energy group. The completion of the transaction is contingent on approvals from the Federal Government of Nigeria […]
Dangote Expresses Gratitude As Refinery Commences Production
The President of the Dangote Group, Aliko Dangote, has thanked President Bola Tinubu and others as the Dangote refinery began the production of diesel and aviation fuel. The facility began production on Friday and Dangote said it was a “big day for Nigeria”. Dangote in a statement he issued on Saturday, acknowledged Tinubu’s support and […]
Investor Worries Mount As NGX Records A Loss Of N638 Billion To Start 2024
The Nigerian Exchange Limited (NGX) faced a challenging start to the year, witnessing a decline in market capitalization, causing concerns among investors. At the close of trading on Wednesday, market capitalization plummeted by approximately N638 billion, settling at N44.885 trillion, just a day after surpassing the N45 trillion mark. Despite the All-Share Index maintaining a […]
Dangote Addresses EFCC’s Visit To His Company’s Office
Aliko Dangote, Nigerian businessman and industrialist, has responded to the recent raid by the Economic and Financial Crimes Commission (EFCC) on the Dangote Group headquarters in Lagos. In a statement on Saturday, the Chairman of the Dangote Group expressed his willingness to cooperate with the anti-graft agency during its investigations. The EFCC is reportedly investigating […]
Sam Bankman-Fried: Convicted ‘Crypto King’ Will Not Face Second Trial
Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges and is facing decades in jail, will not face another trial, US prosecutors say. The 31-year-old was found guilty of fraud and money laundering last month. Prosecutors said the “strong public interest” in a resolution of their case against the former billionaire outweighed benefits of […]
Apple To Appeal Ban On US Sales Of Apple Watch
Apple says it will appeal after sales of its newest smart watches were halted in the US over a patent row. It comes after the White House declined to overturn a ban on sales and imports of the Series 9 and Ultra 2 watches which came into effect this week. The US International Trade Commission […]
Dangote Refinery Receives First Crude Oil Shipment, Expect Another Delivery In Three Weeks
Dangote Refinery has successfully received its initial one million barrels of Agbami crude grade from Shell International Trading and Shipping Company Limited (STASCO), marking a crucial advancement in enhancing Nigeria’s local refining capacity. In a statement released on Friday, Dangote Refinery clarified that the cargo was delivered to the facility’s Single-Point Mooring (SPM) and subsequently […]
