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Ecobank raises $450m from Eurobond

Ecobank raises $450m from Eurobond

Ecobank Transnational Incorporated (ETI) in Lomé, which is the parent company of the Ecobank Group, has successfully raised $450 million in its debut Eurobond which was oversubscribed. The Global Offering is a 5-year unsecured note…

Business
JUST IN: Inflation Rate In Nigeria Drops To 11.25%, Says NBS

JUST IN: Inflation Rate In Nigeria Drops To 11.25%, Says NBS

The National Bureau of Statistics (NBS) said the country’s inflation measured by the Consumer Price Index (CPI) in March was 0.06 percent points lower than the rate recorded in February. The NBS said this in…

Business
ExxonMobil Not Leaving Nigeria, Says Ibe Kachikwu

ExxonMobil Not Leaving Nigeria, Says Ibe Kachikwu

Emerging report indicates that Minister of State for Petroleum, Ibe Kachikwu has stated that ExxonMobil has no plans to exit Nigeria contrary to reports in some section of the media. The News Agency of Nigeria…

Business
Why I Have No House Outside Nigeria – Dangote

Why I Have No House Outside Nigeria – Dangote

Africa’s richest man, Aliko Dangote, has declared that he has no personal house outside Nigeria. The business mogul said this at the 2019 Mo Ibrahim Forum. Dangote hinted that he avoids luxury things “because they…

Business
JUST IN: Jumia Listed On New York Stock Exchange

JUST IN: Jumia Listed On New York Stock Exchange

Jumia Technologies, a pan-African technology company, has listed on the New York Stock Exchange (NYSE), becoming the first-ever technology company from Africa to list on the world’s largest stock exchange. The largest e-commerce operator in…

Business
UBA Moves Against Sahara Energy Over N15bn Loan

UBA Moves Against Sahara Energy Over N15bn Loan

UBA Plc has filed a winding up petition against Sahara Energy Resource Limited (Sahara Energy) at a federal high court in Lagos. The petition was based on a N15 billion loan owed by KEPCO Energy Resources…

Business
We Can’t Wake Up One Day And Remove Subsidy – Finance Minister Tells IMF

We Can’t Wake Up One Day And Remove Subsidy – Finance Minister Tells IMF

Minister of Finance, Zainab Ahmed has stated that the Nigerian government will implement the removal of fuel subsidy gradually. She made the disclosure Thursday while speaking on the sidelines of the ongoing spring meeting of…

Business
JUST IN: NNPC Assures Nigerians Of Adequate Supply Of Petroleum Products During Easter

JUST IN: NNPC Assures Nigerians Of Adequate Supply Of Petroleum Products During Easter

The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians of an adequate supply of petroleum product during the Easter celebration. This was disclosed on Thursday by Group Managing Director of NNPC, Maikanti Baru during the…

Business
BREAKING: IMF ranks Nigeria second worst in the world in use of sovereign wealth fund

BREAKING: IMF ranks Nigeria second worst in the world in use of sovereign wealth fund

The International Monetary Fund has ranked Nigeria as the second worst country in the world in the use of sovereign wealth funds. According to the Fiscal Monitor report released on Wednesday, Qatar was the only…

Business
Feature: Appraising Nigeria’s Business Climate Since 2016

Feature: Appraising Nigeria’s Business Climate Since 2016

The Federal Government in 2016 established the Presidential Enabling Business Environment Council (PEBEC), to boost Nigeria’s Ease of Doing Business (EoDB) reforms To give teeth to EoDB chaired by Vice President Yemi Osinbajo; in 2017, as…