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Markets

Stanbic IBTC Revises International Spending Limit on Naira Cards Down to $500

Stanbic IBTC Bank a Tier-2 lender has revised downwards how much its customers can spend on its International Naira Mastercard by 50% to $500. In...

Dangote to Commission $2 Billion Fertilizer Plant in February 2021

Dangote Group's fertilizer plant, now under construction in Nigeria’s biggest city of Lagos, will be ready to start production next year, according to Saipem...

Shell CEO: Don’t Expect V-Shaped Oil Demand Recovery

The global economy and oil demand are not likely headed for a V-shaped recovery as the pandemic will have a knock on energy demand...

Total Mozambique LNG Completes $16 Billion Financing

Mozambique liquefied natural gas (LNG) project has completed as much as $16 billion in funding involving a score of banks, despite a slowdown in...

AIICO Insurance CEO Purchases 4.6 Million New Shares

The Managing Director/Chief Executive Officer (CEO) of Aiico Insurance Plc, Babatunde Fajemirokun, has purchased 4.6 million new shares in the Insurance Company. The purchase was...

MTN Nigeria Unveils E-Sim Technology

MTN Nigeria has announced the trial of e-SIM services on their network based on approvals received from the Nigerian Communications Commission (NCC). Electronic or e-SIMs...

Loss Making ETranzact Opens N7 billion Rights Offer to Public

Etranzact International Plc - Proposed Rights Issue of 4,666,666,667 Ordinary Shares of 50 Kobo Each at N1.50 Per Share on the Basis of Ten...

Crude oil Prices Rise after Big US Inventory Drawdown

Oil prices rose on Wednesday after a sharp drop in US crude inventories, with the market waiting for OPEC and its allies to decide...

CBN Orders Seizure of Loan Defaulters Funds in Other Banks as GSI Begins

The Central Bank of Nigeria (CBN) yesterday moved a step ahead of bank loan defaulters with a new GSI guideline that allows seizing of...

Niger Insurance Inefficiencies Mean Underwriting Profit Swallowed by Expenses

Niger Insurance is not generating enough revenue to cover bloated operating expenses as combined ratio is spiraling out of proportion, intensifying concerns about deteriorating...

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