Business
Get the latest business news in Nigeria, Africa and the world.
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Households, Businesses Can Apply For N50bn COVID-19 Loans – CBN
The Central Bank of Nigeria has said that households and businesses affected by the COVID-19 can now apply for loans under its N50bn Targeted Credit Facility.
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We Sell Cement Cheaper In Nigeria Than In Other Countries – Dangote
Management of Dangote Cement Plc has reacted to claims that the company sells cement at a relatively high price in Nigeria than it
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CBN Reacts As Obaseki Claims N60bn Was Printed For States
The Central Bank of Nigeria and the Federal Ministry of Finance, Budget, and National Planning have said they are not aware of the N50-N60 billion Edo state
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FAAN Urges Passengers To Turn Up At Airport On Time
The Federal Airports Authority of Nigeria, FAAN, has advised passengers and airport users, particularly those at the Nnamdi Azikiwe
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MTN Increases Staff Salary By 17%
Nigeria’s largest mobile operator, MTN, increased the salaries of its staff in 2020 by about N4.5 billion according to findings by Nairametrics Research.
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Minister, Stakeholders Affirm Health Safety Of 5G
The Minister of Communications and Digital Economy, Dr. Isa Ali Ibrahim Pantami, has allayed the fears of Nigerians on the deployment of Fifth Generation (5G) technology in Nigeria,
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Cryptocurrency Has No Place In Our Monetary System – CBN
The Central Bank of Nigeria is maintaining its stand on the ban on Cryptocurrency.
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Elon Musk Says Bitcoin Better Than Cash
Tesla Inc CEO Elon Musk said that bitcoin is a better asset to hold than conventional cash.
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Bitcoin Soars Above $50,000 First Time In History
Bitcoin rose above $50,000 for the first time on Tuesday as Wall Street pushed further into record territory on mounting confidence of Covid-19 recovery.
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Like CBN, SEC Bans Cryptocurrencies
The Securities and Exchange Commission (SEC) has joined the Central Bank of Nigeria (CBN) to ban crypto trading.
Trump Ban Will Remain Forever – Twitter
Former US President Donald Trump’s Twitter ban will remain forever, even if he runs for president again in 2024, a top company official said on Wednesday February 10.
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Foreign Trade Rises 3% To $7.7bn In November — CBN
Nigeria’s foreign trade rose Month-on-Month (M-o-M) by three per cent to $7.76 billion in November 2020 from $7.53 billion in October 2020.
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Naira Weakens As Dollar Scarcity Hits Market
The Naira fell on Monday and bid-ask spreads widened as the local spot currency market struggled with a scarcity of U.S. dollars, traders said.
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Bitcoin Hits Record Near $45,000 After Tesla Investment
Bitcoin hit a record-high near $45,000 on Monday after Elon Musk’s electric carmaker Tesla invested $1.5 billion in the digital currency.
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Bezos To Step Down As Amazon CEO
Jeff Bezos said Tuesday he would give up his role as Chief Executive of Amazon later this year as the tech and e-commerce giant reported a surge in profit and revenue in the holiday quarter. The company said Andy Jassy, who heads Amazon Web Services, would take over as CEO in the third quarter. The announcement came as Amazon reported a blowout holiday quarter with profits more than doubling to $7.2 billion and revenue jumping 44 per cent to $125.6 billion. Bezos, who has become the world’s richest person based on his stake in Amazon, said he will transition to the role of executive chair in the third quarter to hand over the CEO role to Jassy. “Amazon is what it is because of invention,” Bezos said in a statement. “Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.” Jassy joined Amazon as a marketing manager in 1997 and in 2003 founded AWS, the web division of the company which has been one of the most profitable but least-known units of the tech colossus.
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WhatsApp Delays Data Sharing Change After Backlash
WhatsApp on Friday postponed a data-sharing change as users concerned about privacy fled the Facebook-owned messaging service and flocked to rivals Telegram and Signal.
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Jack Dorsey Gives Reason For Twitter Trump Ban
Jack Dorsey, the Chief Executive Officer (CEO) of Twitter has said that he’s not proud of the ban his social media platform placed on US President Donald Trump.
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Elon Musk Overtakes Jeff Bezos, Becomes World’s Richest Man
Tesla CEO, Elon Musk is now the richest person in the world, with a net worth of more than $185 billion.
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Expose Government Officials Making It Difficult To Do Business – Osinbajo
Vice President Yemi Osinbajo has urged the private sector to expose government officials making it difficult for people to do business in Nigeria.
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More Firms To Shut Down In 2021 – Manufacturers Association Of Nigeria (MAN)
The ongoing stifling of foreign exchange (forex) will lead to mass shutdown of firms in the New Year with attendant job losses, the Manufacturers Association of Nigeria (MAN) has warned the Federal Government.
