NNPC Owes Federation N2.852 Trillion – Spokesperson
The company’s spokesperson, Olufemi Soneye, has revealed that the federation owes the Nigerian National Petroleum Company Limited (NNPC Ltd.) a hefty sum of N4.207 trillion while in turn the company was only indebted to the Federation in the sum of N2.852 trillion. Soneye, the Chief Corporate Communications Officer of NNPC, revealed this in a statement […]
‘Crypto King’ Sam Bankman-Fried Guilty Of FTX Fraud
Sam Bankman-Fried, who once ran one of the world’s biggest cryptocurrency exchanges, has been found guilty of fraud and money laundering at the end of a month-long trial in New York. The jury delivered its verdict after less than five hours of deliberations. It concludes a stunning fall from grace for the 31-year-old former billionaire […]
Deadly Explosion Off Nigeria Points To Threat Posed By Aging Oil Ships Around The World
It was the dead of night when the ship caught fire, Patrick Aganyebi remembers, but the flames made it seem as bright as day. The explosion that night woke him and knocked him to the floor. He tucked his phone and his ID card in his pockets, strapped on a life jacket and made his […]
Lagos Govt Puts Stringent Environmental Measures, Reopens Trade Fair Markets, Alaba International
The Lagos State government, led by Governor Babajide Sanwo-Olu, has reopened the Alaba International Market as well as a few other markets at the Trade Fair Complex in Ojo. Due to poor waste disposal, unpaid waste bills, and other environmental infractions, the Lagos State Government had earlier closed the markets. However, Tokunbo Wahab, the Commissioner […]
Otedola Gifts 750 Varsity Students N1 Million Each, Gains The Heart Of Many Netizen
After giving a million naira each to 750 students at Augustine University in Ilara-Epe, Lagos State, Nigerian entrepreneur and billionaire businessman Femi Otedola has gained the heart of many on social media. The billionaire was inaugurated in as the university’s chancellor and he also made the announcement of the donation on Thursday during the fifth […]
Lafarge Launches Electric Vehicle Truck, Pioneers Green Mobility
With the launch of an Electric Vehicle (EV) truck into its supply chain, Lafarge Africa Plc has hailed a significant turning point in its sustainability journey. This first-of-its-kind accomplishment in Africa, made possible by a partnership with Tolaram, highlights Lafarge’s steadfast dedication to environmentally friendly operations and creative solutions. Speaking on Monday at the EV […]
CBN Gov Summoned By House Of Reps Over Decision Of Lifting Ban On 43 Forex Items
The House of Representatives has summoned Yemi Cardoso, the governor of the Central Bank of Nigeria (CBN), to explain the decision to lift the forex ban on forty-three items. Recall that in 2015, access to certain items—like cement and toothpicks, among others—was initially restricted from foreign exchange. As a result, importers of these commodities were […]
Billionaires Should Face A Minimum Tax Rate, Report Says
Billionaires should face a minimum tax rate, according to a report which found some of the world’s mega-wealthy are paying little to no tax. The EU Tax Observatory said most people pay a higher rate than the super-rich, who, it said, are able to use complex business structures for avoidance. It suggested a minimum 2% […]
Dangote Cement Denies Running Sales Promo
The management of Dangote Cement Plc. has denied reports, on some online platforms, that it has embarked on sales promotion and adjusted its prices. There have been reports on some online platforms and social media, that the company has reduced the price of a bag of cement to between N2,400 and N2,700 as part of […]
Oil Prices Rise Following Hamas Attack On Israel
Oil prices have jumped on concerns that the situation in Israel and Gaza could disrupt output from the Middle East. Brent crude, the international benchmark, climbed by $2.25 a barrel to $86.83, while US prices also rose. Israel and Palestinian territories are not oil producers but the Middle Eastern region accounts for almost a third […]
