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Business - Page 544

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank). The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony

December 21, 2025

Business

MTN Nigeria Borrows N125 billion For Operation Amid Musk’s Starlink Threat

MTN Nigeria has lent N125 billion through Commercial paper issuance, which was overbooked by investors in the securities market. In a corporate document dated 6 March 2023, MTN Nigeria informed the company’s shareholders and the investing public of the money borrowed from

March 7, 2023

AMA News·Business

Welcome to the Future: Bybit Partners with Mastercard to Offer Crypto Payments Debit Card

DUBAI, United Arab Emirates, 06 March 2023 -/African Media Agency(AMA)/- Bybit, the world’s third most visited crypto exchange, is proud to announce the launch of Bybit Card, a debit card powered by the Mastercard network, issued by Moorwand. This card will allow users to off-ramp

March 7, 2023

NNPCL Denies Inflating Fuel Subsidy Payments

Business·Oil & Gas

Eroton Loses Oilfield Asset To NNPC, Head Office Locked

Eroton Exploration and Production Limited has been removed as operator of the oil mining lease (OML) 18, which it co-owned with the Nigerian National Petroleum Company (NNPC) Limited. The NNPC, the major stakeholder in the oilfield, replaced Eroton Exploration with NNPC Eighteen

March 7, 2023

NGX: Investors Gain N313bn As ASI Rebound By 0.70%

Business·Markets

Stock Investors Lose N40.42bn, Oando, Japaul Gold Among Losers’ List

About N40.42 billion was lost in the Nigerian stock market on Monday, 6 March 2023, as the equity capitalisation depreciated by -0.13 per cent. This led to the market capitalisation dropping to N30.29 trillion, slightly from N30.33 trillion recorded on Friday, 3 March

March 6, 2023

Aliko Dangote Spent $18.5 billion To Build Refinery, Owes $2.7 billion Debt

Business·Oil & Gas

Dangote Refinery Won’t Save Nigeria From Looming Fuel Scarcity – New Report

The S&P Global commodity Insight has revealed that the oil refinery Aliko Dangote is building will not reach full capacity before the end of 2024. According to S&P, the Dangote refinery is expected to commence operation in the fourth quarter (Q4) of

March 6, 2023

Business

PenCom Hits 25 Firms With N666.03m Fine Over Pension Default

The National Pension Commission (PenCom) penalised 25 employers for defaulting on pension remittance, the commission disclosed in its fourth quarter report for 2022. Prime Business Africa gathered that the defaulting firms paid a penalty of N666.03 million and their principal contribution of

March 6, 2023

Business

CBN Naira Redesign Policy Deteriorates Business Condition – Stanbic IBTC

A new report by Stanbic IBTC has shown that the Naira redesign policy of the Central Bank of Nigeria (CBN) has negatively impacted the Nigerian economy. The report, which covers February and titled “Stanbic IBTC Bank Nigeria PMI (Purchasing Managers’ Index),” said

March 6, 2023

Breaking: CBN Tell Banks To Increase Interest Rate On Loan, Set MPR At 18.5%

Business

IMF Warns CBN, Others Against Financing Government’s Excessive Debt

The central banks have been warned by the International Monetary Fund (IMF) against constantly bailing out governments in their quest to borrow funds outside the bond market. Recall that the N23.7 trillion debt the Nigerian government owes the Central Bank of Nigeria

March 6, 2023

5G Deployment To Create $13.2tn Economic Value, 22.3m Jobs By 2035

Business·FEATURES·Technology

How 5G Technology Transforms Communication, Business Opportunities

The advent of 5G technology constitutes a paradigm shift in the realm of communication, ushering in a new epoch of technological advancement. Fifth-generation cellular technology represents a quantum leap forward in terms of speed and data capacity, enabling faster data transfers

March 6, 2023

Business·News·Technology

Flutterwave Says N2.9 Billion Hack Report Not True

March 6, 2023

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Nigeria Launches N590bn Power Sector Bond to Clear GENCO, Gas Arrears

The Federal Government of Nigeria has issued its debut bond

Dollar Trades Flat In Black Market, Appreciates In Official Window

The dollar traded at N1,487.01/$1 in the parallel market on

Venezuela Condemns Trump’s Threat, Pledges to Defend Sovereignty

The government of Venezuela has condemned what it described as

Bank of Japan Poised to Lift Rates to 30-Year High as Inflation Pressures Persist

The Bank of Japan (BOJ) is set to raise its

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Business - Page 544

Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

MTN Nigeria Borrows N125 billion For Operation Amid Musk’s Starlink Threat

Welcome to the Future: Bybit Partners with Mastercard to Offer Crypto Payments Debit Card

Eroton Loses Oilfield Asset To NNPC, Head Office Locked

Stock Investors Lose N40.42bn, Oando, Japaul Gold Among Losers’ List

Dangote Refinery Won’t Save Nigeria From Looming Fuel Scarcity – New Report

PenCom Hits 25 Firms With N666.03m Fine Over Pension Default

CBN Naira Redesign Policy Deteriorates Business Condition – Stanbic IBTC

IMF Warns CBN, Others Against Financing Government’s Excessive Debt

How 5G Technology Transforms Communication, Business Opportunities

Flutterwave Says N2.9 Billion Hack Report Not True

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Heirs Energies Agrees $750m Afreximbank Financing to Drive Long-Term Growth

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