Fakoyejo Olalekan

Nigeria’s Debt Office Defends Rising Debt Under Pres. Buhari

The Director- General of Debt Management Office (DMO), Patience Oniha, has defended Nigerian government’s debt during a presentation at the Executive Course on Budgeting and Fiscal Transparency, in Abuja. Oniha said loans obtained to fund fuel subsidy played a significant role in the

September 28, 2022

Business·Technology

4 Young Nigerians Get $30 million From Foreign Investors

Nigerian young Nigerians and tech founders, Tunde Kara, Olumide Fayankin, Gatumi Aliyu and Wale Oyepeju, have raised $30 million from foreign and African investors to aid their digital business. Their tech startup, Vendease, enables African restaurants buy supplies, access financial services and

September 28, 2022

Business·Insights

How CBN’s New 15.5% Interest Rate, CRR Affects Your Business, Lifestyle

The Central Bank of Nigeria (CBN) increased the Monetary Policy Rate (MPR), which is the benchmark interest rate, to 15.5 percent from 14 percent on Tuesday. Nigeria’s central bank also raise cash reserve ratio (CRR) from 27.5 percent to 32.5 percent. The

September 27, 2022

Company Sues Zuckerberg For Stealing Its Name, Meta

Business

Mark Zuckerberg Loses $76.8 billion In Total Networth, Drops On America’s Richest List

Meta co-founder, Mark Zuckerberg, has lost his spot on the top ten richest people in the United States. The Chief Executive Officer of Meta fell out of the list, ranking as the 11th richest person in America. Zuckerberg has been in the

September 27, 2022

Over N97.57bn Lost To Selloffs In UAC Nigeria, Champion Brew

Business·Markets

Nigerian Stock Market Loses Over N30 billion, As May & Baker, Unilever, Others Fall

Market capitalisation of the Nigerian bourse lost N30 billion on Tuesday, from the N26.54 trillion recorded on Monday, dwindling to N26.51 trillion. The loss was reflected in the All-Share Index that fell to 49,161.45 ASI from 49,218.35 ASI, losing 56.9 basis points. At the end of

September 27, 2022

Business

Mass Resignation At Sheraton’s Capital Hotel, As Indian Owner Takes Over

The board of Capital Hotel Plc resigned from their position after 22 Hospitality Limited acquired a majority stake in the company through private placement. 22 Hospitality Limited acquired 2,090,199,140 Ordinary Shares of 50 kobo each, representing 66.13% of the equity stake in

September 27, 2022

Business·Technology

Confusion, As Twitter’s Parag Agrawal Fails To Appear Before Musk’s Lawyer

On Monday, the Chief Executive Officer of Twitter, Parag Agrawal, was a no show for his deposition, as he cancelled on Elon Musk’s lawyer, Alex Spiro, a partner at Quinn Emanuel Urquhart & Sullivan. Agrawal and Musk were scheduled to be deposed

September 27, 2022

Business

Sterling Bank’s New HoldCo Pits Company Against GTCO, Access Holdings

Sterling Bank has established its HoldCo, Sterling Financial Holdings Company Limited, to compete for market share against Guaranty Trust Holding Company, Access Holdings, and other industry rivals. In a statement released on Monday, and obtained from the Nigerian Exchange Limited (NGX), Sterling

September 26, 2022

Business·Insights

How BUA Cement’s Abdulsamad Rabiu, Brother, Kabiru, Lose N109.28 billion In Investment

The founder and Chairman of BUA Cement, Abdulsamad Rabiu, and his brother, Kabiru Isyaku Rabiu, lost a whopping N109,287 billion within five days of trading last week. Both Abdulsamad and Kabiru lost the sum in investment value after shareholders engaged in sell

September 26, 2022

Bank Investors Earn N248.68 billion Amid Naira Scarcity Caused By CBN’s Policy

Business·FEATURES·Insights

Best Performing Tier-1 Nigerian Banks: Zenith Bank Underperforms, UBA Tops List

At the end of the second quarter of 2022, United Bank for Africa (UBA) was the best performing financial institution amongst the tier-1 banks in Nigeria, with Zenith Bank ranking bottom of the list. In an industry analysis of the tier-1 banks,

September 26, 2022

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Fakoyejo Olalekan

Nigeria’s Debt Office Defends Rising Debt Under Pres. Buhari

4 Young Nigerians Get $30 million From Foreign Investors

How CBN’s New 15.5% Interest Rate, CRR Affects Your Business, Lifestyle

Mark Zuckerberg Loses $76.8 billion In Total Networth, Drops On America’s Richest List

Nigerian Stock Market Loses Over N30 billion, As May & Baker, Unilever, Others Fall

Mass Resignation At Sheraton’s Capital Hotel, As Indian Owner Takes Over

Confusion, As Twitter’s Parag Agrawal Fails To Appear Before Musk’s Lawyer

Sterling Bank’s New HoldCo Pits Company Against GTCO, Access Holdings

How BUA Cement’s Abdulsamad Rabiu, Brother, Kabiru, Lose N109.28 billion In Investment

Best Performing Tier-1 Nigerian Banks: Zenith Bank Underperforms, UBA Tops List

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