CATEGORY
Markets
Stanbic IBTC Revises International Spending Limit on Naira Cards Down to $500
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Niger Insurance is not generating enough revenue to cover bloated operating expenses as combined ratio is spiraling out of proportion, intensifying concerns about deteriorating...