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Business - Page 679

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·News

Oil Price Rises, As OPEC Raises Nigeria’s Oil Quota After Russian Oil Ban

Crude oil price rose to $119.7 per barrel on Friday as the Organisation of Petroleum Exporting Countries (OPEC) raised Nigeria’s oil production quota, two years after the April 2020 increase, during the COVID-19 lockdown. OPEC agreed to up Nigeria’s quota to 1.8

June 3, 2022

Business

Nigerians Working For Tesla Risk Losing Jobs, As Elon Musk’s Set To Sack Over 9,000 Workers

Nigerians risk losing their jobs in Tesla, as the electric carmaker suspends hiring across its companies globally. The pause on job hire within Tesla was ordered by its Chief Executive Officer, Elon Musk. The world’s richest man sent the directive to executives

June 3, 2022

Business

Billionaires, Elon Musk, Aliko Dangote Lost Over N6.25 trillion In One Day

The world richest man, Elon Musk, and the wealthiest person in Africa, Aliko Dangote, lost a combined N6.25 trillion ($14.91 billion) on Friday, but the businessmen retained their various positions on the billionaire ranking after trading hours. Musk lost the largest chunk

June 3, 2022

Business

10 Union Bank Top Directors Who Lost Jobs To Titan Trust Acquisition

Titan Trust Bank Limited finally acquired Union Bank of Nigeria on Thursday, after receiving the approval of the Central Bank of Nigeria (CBN). The takeover of UBN led to a massive exit among the board of directors. The subsidiary of TGI Group,

June 3, 2022

CBN Owes Goldman Sachs, JP Morgan $7.5bn, Releases Financials Amid Probe

Business

CBN Releases Guidelines On Bank Neutral Cash Hubs

The Central Bank of Nigeria (CBN) has released guidelines for setting up Bank Neutral Cash Hubs (BNCHs). The CBN, in a statement, noted that the BNCHs are being initiated in furtherance of its mandate to promote a sound financial system in Nigeria,

June 2, 2022

Business·Top Stories

Nigerians Tired Of MTN, Glo, Airtel, Can Now Order For Elon Musk’s Internet Service, Starlink

The internet company, Starlink, owned by billionaire, Elon Musk, can now be booked by Nigerians, as the network provider is now available in 32 countries around the world. Countries are now placed under three categories, “Available”, “Wait list” and “Coming soon”, according

June 2, 2022

Naira Ends Week With N59.71 Gain At Official Market

Business·Currency

Dollar Exchanges For Over N600, As Naira Falls In Official Investors Market

The cost of exchanging naira to dollar increased on Thursday in the black market, as the value of the Naira continues to move in different paths across the peer-to-peer segment and the official foreign exchange market. Earlier today, Nigerians using the parallel

June 2, 2022

Business

Data war: Over 100,000 data users dump 9mobile, as MTN, Airtel, Glo gain big

9mobile was the only loser among the top four telecommunications companies in the industry’s data war, as over 100,000 subscribers left the network provider, despite 1.54% growth in the telco industry’s total subscriber base. According to analysis of the market data for

June 2, 2022

Business

FIRS Moves After States Over Failure To Remit Tax Deductions

The Federal Inland Revenue Service (FIRS) disclosed its readiness to begin process of enforcement and recovery of unremitted tax deductions owed by some states and local governments. The FIRS, in a statement on Wednesday, noted that it would advise the federal government and the

June 1, 2022

Business

CBN Retains 5% Interest Rate For Power Sector, Others

The Central Bank of Nigeria (CBN) has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. Prime Business Africa learnt that the decision followed the resolution of the Monetary Policy Committee

June 1, 2022

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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 679

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

Oil Price Rises, As OPEC Raises Nigeria’s Oil Quota After Russian Oil Ban

Nigerians Working For Tesla Risk Losing Jobs, As Elon Musk’s Set To Sack Over 9,000 Workers

Billionaires, Elon Musk, Aliko Dangote Lost Over N6.25 trillion In One Day

10 Union Bank Top Directors Who Lost Jobs To Titan Trust Acquisition

CBN Releases Guidelines On Bank Neutral Cash Hubs

Nigerians Tired Of MTN, Glo, Airtel, Can Now Order For Elon Musk’s Internet Service, Starlink

Dollar Exchanges For Over N600, As Naira Falls In Official Investors Market

Data war: Over 100,000 data users dump 9mobile, as MTN, Airtel, Glo gain big

FIRS Moves After States Over Failure To Remit Tax Deductions

CBN Retains 5% Interest Rate For Power Sector, Others

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

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

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

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