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Business - Page 547

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

GTBank Addresses Funding Tinubu’s Presidential Ambition With N500m

Business

GTBank: ‘We Didn’t Give N500m New Naira Notes To Tinubu On Election Eve’

Guaranty Trust Bank (GTBank) has refuted claims that the financial institution financed the Presidential ambition of Bola Tinubu, the eventual winner of the election. It was alleged by a Twitter user, (@)ifygold21, that Segun Agbaje, the former Managing Director of GTBank and

March 1, 2023

Fuel Stations To Increase Petrol Price To Over N700, Oil Marketers Give Reasons

Business·Oil & Gas

Fuel Distribution Suspended In Nigeria Over Election Fears

The Secretary, Independent Petroleum Marketers Association of Nigeria (IPMAN), Abuja-Suleja region, Mohammed Shuaibu, has said the general election is affecting fuel distribution. Shuaibu said oil marketers are not moving Premium Motor Spirit (PMS), also known as fuel, as they use to pre-election,

March 1, 2023

Moghalu, British Gov’t Support Tinubu’s Fuel Subsidy Removal, Forex Reforms

Business·Technology

Tech Expert, Nwoye, Criticises Buhari, INEC Over Tinubu’s Victory

The founder of TechCircle, Oo Nwoye, has criticised how the Presidential election was held in Nigeria, which led to the All Progressives Congress (APC) candidate, Bola Tinubu, emerging as the winner. Nwoye is a popular tech consultant in the African tech space,

March 1, 2023

IMF Asks Nigeria, Others To Charge VAT, Capital Gains Tax On Crypto Assets

Business

Crypto Assets Have Been More Of Disappointment, IMF Says

The International Monetary Fund (IMF) has described cryptocurrencies as a disappointment, as they failed to meet the expectation of their users. In an IMF report authored by Tobias Adrian and Tommaso Mancini-Griffoli, IMF said crypto assets couldn’t revolutionise the global financial system.

February 28, 2023

Bulls Charge Ahead As NGX Shatters Records As Market Cap Surpasses N50trn

Business·Markets

Nigerian Stock Market Closes With N260.30 billion Gain

Nigerian bourse closed with N30.40 trillion market capitalisation on Tuesday, 28 February 2023, up from N30.14 trillion reported the previous day. This shows N260.30 billion growth in the total investment value within the country’s stock market. Also, the All-Share Index appreciated to 55,806.26

February 28, 2023

Business·Technology

Google Opens $100,000 Funding For Startups In Nigeria, Africa

Google has commenced its Black Founders Fund for Africa 2023. The United States technology company is offering $100,000 to selected startups of the programme. The search engine giant created the Black Founders Fund for Africa to expand access to capital for African

February 28, 2023

Business

Lafarge Eyes N32.21bn Dividend Payout, Unclaimed Hit N1.63bn

Lafarge Africa has proposed paying shareholders N32.21 billion as dividends for 2022, the same amount shareholders were paid in 2021. The company broke the dividend down to N2 per share according to a statement contained in its Consolidated and Separate Statements of

February 28, 2023

AMA News·Business

Thales to hire more than 12,000 people worldwide in 2023 to support its growth trajectory

PARIS, France, 28 February 2023 -/African Media Agency(AMA)/-After a record-breaking year for recruitment in 2022, Thales is continuing to hire in 2023 In 2023, Thales plans to hire more than 12,000 new employees to support its strong growth trajectory in its three

February 28, 2023

Data War Analysis: Globacom Loses Data Market Share, Over 300,000 Subscribers Stop Using 9mobile Internet Service

Business

Mobile Network Providers React, As BIVAS Failure Is Blamed On Bad Service

The Mobile Network Operators (MNOs) in Nigeria said the service didn’t affect the presidential election held over the weekend, after failure to upload poll results on INEC Results Viewing Portal (IReV) and Bimodal Voter Accreditation System (BIVAS). Prime Business Africa had reported

February 28, 2023

19 Bank Workers Sacked, As Nigerian Banks Lose N1.17 billion To Fraud

Business·Currency·News

Nigerian Banks Under Liquidity Stress – Moody’s

Moody’s Investors Service has provided an in-depth analysis of how foreign currency shortages mount serious pressure on Nigerian banks. Its report in February reveals that Nigerian banks’ liquidity are under serious pressure as a result of lower domestic oil production, higher prices

February 28, 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 547

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

GTBank: ‘We Didn’t Give N500m New Naira Notes To Tinubu On Election Eve’

Fuel Distribution Suspended In Nigeria Over Election Fears

Tech Expert, Nwoye, Criticises Buhari, INEC Over Tinubu’s Victory

Crypto Assets Have Been More Of Disappointment, IMF Says

Nigerian Stock Market Closes With N260.30 billion Gain

Google Opens $100,000 Funding For Startups In Nigeria, Africa

Lafarge Eyes N32.21bn Dividend Payout, Unclaimed Hit N1.63bn

Thales to hire more than 12,000 people worldwide in 2023 to support its growth trajectory

Mobile Network Providers React, As BIVAS Failure Is Blamed On Bad Service

Nigerian Banks Under Liquidity Stress – Moody’s

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